FAR Study Group July August 2017 - Page 50

Viewing 15 replies - 736 through 750 (of 1,059 total)
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  • #1593582
    Hiracpa
    Participant

    @determinedcpaer Thanks for the feedback. I feel like i have forgotten stuff I did a month ago, so thought it would be most beneficial to review again. i have been doing review tests, for the first two chapters, I got a 80, and then the next three got a 74. It seems to be going down. Let's see how F1-4 are. I really am struggling with intracompany, probably the hardest subject for me in this class.

    I just got an email yesterday about how Audit will be released August 17th. Eek! best of luck to everyone waiting on those scores. And then we will not have to wait months to find out FAR. I am praying to any and all higher powers, that I passed these two.. and then i feel i can relax.

    For the accrual to cash basis – I have basically memorized the nemonic's and basically get those questions right. I tried to make sense out of them, like Olinto says, but I kept getting those questions wrong. I did ask the professor for FAR bootcamp through becker, if this would be heavily tested, and they said no. Taking that with a grain of salt.



    @hopingtogetFAR
    thanks for the notes on the inventory, making more sense. But still a little lost. Are you available on some gchat or anything to ask questions? I know everyone is extremely busy, so if you have time, I'd appreciate it.

    Thank you all!

    #1593585
    Hiracpa
    Participant

    Another random question, do we just get an email from NASBA with our scores? is it mailed? or do we have to login into cpacentral to find out?

    #1593725
    hopingtogetFAR
    Participant

    @hiracpa I've never used gchat but I could try.

    #1593728
    Hiracpa
    Participant

    Post edited – please read the forum rules:

    https://www.another71.com/cpa-exam-forum/topic/cpa-exam-forum-faqs-and-help-center/

    We aren’t trying to be sticklers – just consistent.

    – Mod NINJAs

    #1593852
    Accountingbeans
    Participant

    So I finished both mock exams. I felt like the MC was unnecessarily difficult and complicated but I anticpate the actual exam MC will be a little shorter and more straight forward. That was exhausting. Can't wait to just take this thing already

    Newbie
    BEC- August 31

    #1593909
    DeterminedCPAer
    Participant

    I'm starting my first mock exam in like 20 minutes. wish me luck.

    #1593957
    IwannabeaCPA2017
    Participant

    does JE order matter on the actual exam? I should prob know this but not for certain.. Im practice the SIMS on becker and it asked to record some JE, so let say the correct entry is:
    DR:Interest Exp.
    CR: Cash
    CR: Discount on B/P.
    I flipped the cash and discount so I had discount going first and becker marked me wrong even with the right amount. Is this the same for the actual exam? I think its stupid that I get penalized if I had the right entry just wrong order. Just wanna make sure so I am not going to make any dumb mistakes on the day of. Thanks!

    #1593962
    hopingtogetFAR
    Participant

    @iwannabeacpa2017 I've read multiple posting on that question and the answer I've consistently seen is no.

    #1593965
    DeterminedCPAer
    Participant

    I just finished mock 1. Surprised I did better on SIMs than MCQs. Thats worrisome because SIMs on the actual exam are harder and longer. I had an hour left to go cause I made sure to finish MCQs within hour and half. At first, I thought my first SIM was hard but then as I got comfortable, I wasn't as tense and nervous.

    Still worried. Going to keep doing MCQs today, tomorrow and Friday. I plan on taking mock 2 on Saturday morning/afternoon and continue with more MCQs Saturday evening.

    Sunday will be reviewing of stuff I printed online, prior AICPA questions released and going over the book.

    #1593974
    sellers321
    Participant

    Scared to death! I have been studying and cannot get the nerve to take the exam.

    #1593980
    Accountingbeans
    Participant

    @determinedCPAer Jesus I am so discouraged after seeing your mock score. Taking FAR on Friday and got a 67 on my first mock exam and 62 on the second. I feel I'll be ok someway or another though, but your score is awesome

    Newbie
    BEC- August 31

    #1594035
    WillWorkForCake
    Participant

    Hey guys. Anyone know what the sims are actually like? Like are they testing JE? Do we go through resources and plug numbers? And I'm going to be doing a amortization table??

    Like I just don't know what to expect.

    #1594124
    jwalk
    Participant

    Alright friends…I took the exam yesterday. Yikes…I honestly don't know how I feel. I'm really annoyed that some things I spent a ton of time on didn't even show up, or if they did it was the most simplistic question you could ask about the topic. Well, all I can say is get the concept and hope that you get SIMS on topics that you are well versed in. The amount of information is a pain to go through. I mean I understand it is about diligence and awareness also, but in a timed environment with little ability to sort information and organize it in a decent way it makes the sims a little overwhelming. Good thing is I didn't run out of time. Felt pressed, that's for sure. My last sim was a Hail Mary because Lord knows I had no clue how to do it. Good luck everyone!! Get good at sifting through information…
    🙂

    May the odds be ever in your favor lol

    #1594133
    WillWorkForCake
    Participant

    @jwalk was it like pull information and put it into Journal entries?

    #1594190
    Radez
    Participant

    @DeterminedCPAer and @abig, regarding the checks that aren't mailed, if you still have control of the checks then technically, it's as if you haven't cut them, so you'd adjust cash and A/P up for them. Since cash is increasing, it has an impact to operating cash flow, which is captured by the increase in A/P.

    With outstanding checks, that's just a reconciling item between your gl balance and your bank statement. Checks still on hand wouldn't really be considered outstanding, because they haven't been mailed yet. They'd be re-included in your GL as cash proper, and therefore your gl balance and bank balance wouldn't be off at all for those items.

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