[jeff]

FAR Resources:

Free FAR Notes & Audio – https://www.another71.com/cpa-exam-study-plan

FAR 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

FAR Score Release: https://www.another71.com/cpa-exam-scores-results-release

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[ready2baCPA]

Has anyone used the Online Gleim system with a Mac Operating System? I'm wondering if I will be able to watch the videos and access the test prep software online.

FAR: 78 THANK YOU LORD!
BEC: 75 THANK YOU LORD!
AUD: 69 (August 2013), 70 (October 2013), 75!!! THANK YOU LORD!
REG: 87!!!! AMEN AMEN, and AMEN!
THANK YOU LORD, I'M DONE!

[Anonymous]

Hello everybody! I'm joining the study group! I am planning to take FAR beginning of January. I am VERY intimidated by FAR but am going to give it 200% so I can try and be done before tax season hits. I plan to try to watch about 1.5-2 hrs of lectures a night for November and then in Dec start doing the homework & sims. I have Becker and so far it has worked well for me.

Good luck to everybody taking exams soon!

[Anonymous]

Hello everybody! I'm joining the study group! I am planning to take FAR beginning of January. I am VERY intimidated by FAR but am going to give it 200% so I can try and be done before tax season hits. I plan to try to watch about 1.5-2 hrs of lectures a night for November and then in Dec start doing the homework & sims. I have Becker and so far it has worked well for me.

Good luck to everybody taking exams soon!

[Anonymous]

Hello everybody! I'm joining the study group! I am planning to take FAR beginning of January. I am VERY intimidated by FAR but am going to give it 200% so I can try and be done before tax season hits. I plan to try to watch about 1.5-2 hrs of lectures a night for November and then in Dec start doing the homework & sims. I have Becker and so far it has worked well for me.

Good luck to everybody taking exams soon!

[Anonymous]

Hello everybody! I'm joining the study group! I am planning to take FAR beginning of January. I am VERY intimidated by FAR but am going to give it 200% so I can try and be done before tax season hits. I plan to try to watch about 1.5-2 hrs of lectures a night for November and then in Dec start doing the homework & sims. I have Becker and so far it has worked well for me.

Good luck to everybody taking exams soon!

[kels417]

@ready2baCPA – I have used Gleim on my Mac for simulations and questions. I have never watched any videos, but haven't had any issues with the software for questions.

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[kels417]

@ready2baCPA – I have used Gleim on my Mac for simulations and questions. I have never watched any videos, but haven't had any issues with the software for questions.

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[K]

Hi All! Can someone please help me with this question:

Veronica Corp. uses the revaluation model for intangible assets. On March 1, year 1, Veronica acquired intangible assets with an indefinite life for $200,000. On December 31, year 1, it was determined that the recoverable amount for these intangible assets was $180,000. On December 31, year 2, it was determined that the intangible assets had a recoverable amount of $187,000. How should Veronica recognize the gain or loss in the December 31, year 2 financial statements?

My answer: gain on income statement of $7,000.

Correct answer: gain on OCI of $7,000.

My understanding is that revluation gain should be reported on OCI unless the gain is a reversing a previous loss recognized on the income statement.

What am I missing?

BEC 80
AUD 86
REG 84
FAR 80

DONE!

[K]

Hi All! Can someone please help me with this question:

Veronica Corp. uses the revaluation model for intangible assets. On March 1, year 1, Veronica acquired intangible assets with an indefinite life for $200,000. On December 31, year 1, it was determined that the recoverable amount for these intangible assets was $180,000. On December 31, year 2, it was determined that the intangible assets had a recoverable amount of $187,000. How should Veronica recognize the gain or loss in the December 31, year 2 financial statements?

My answer: gain on income statement of $7,000.

Correct answer: gain on OCI of $7,000.

My understanding is that revluation gain should be reported on OCI unless the gain is a reversing a previous loss recognized on the income statement.

What am I missing?

BEC 80
AUD 86
REG 84
FAR 80

DONE!

[pink48915]

@Susan K

I come up with the same idea as your thinking. It seems like the $7,000 gain on December 31, Yr 2 is a reversal of the loss on December 31, Yr 1.

Besides this, Could anyone explain to me the calculation of consolidated intercompany retained earnings?

What I believe is that consolidated retained earnings should report 100% of the parent retained earnings and eliminate 100% of subsidiary retained earnings.

Is this correct? Or should I use the formula of: Beginning RE + Net Income – Dividend = Ending RE to calculate the consolidated ending RE? Is it Net Income from Parent or Subsidiary? and Dividend from Parent or Subsidiary?

[pink48915]

@Susan K

I come up with the same idea as your thinking. It seems like the $7,000 gain on December 31, Yr 2 is a reversal of the loss on December 31, Yr 1.

Besides this, Could anyone explain to me the calculation of consolidated intercompany retained earnings?

What I believe is that consolidated retained earnings should report 100% of the parent retained earnings and eliminate 100% of subsidiary retained earnings.

Is this correct? Or should I use the formula of: Beginning RE + Net Income – Dividend = Ending RE to calculate the consolidated ending RE? Is it Net Income from Parent or Subsidiary? and Dividend from Parent or Subsidiary?

[kels417]

Hey all,

This is my first time using Wiley, so I'm not sure how to take this, but I've been scoring really high on all of their simulations. They seem extremely easy to me. Anyone else find them to be not that difficult? I'm going to finish all of them in the next couple days and then do the Becker sims again for extra practice. Hope to take a practice exam this weekend to see how I'm doing.

Are the Becker or Wiley practice exams a better representation of the real exam? I tend to do fairly bad on the Becker exams, but have passed the real thing. Wondering if Wiley will be easier or harder than CPA exam.

Thanks!

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[kels417]

Hey all,

This is my first time using Wiley, so I'm not sure how to take this, but I've been scoring really high on all of their simulations. They seem extremely easy to me. Anyone else find them to be not that difficult? I'm going to finish all of them in the next couple days and then do the Becker sims again for extra practice. Hope to take a practice exam this weekend to see how I'm doing.

Are the Becker or Wiley practice exams a better representation of the real exam? I tend to do fairly bad on the Becker exams, but have passed the real thing. Wondering if Wiley will be easier or harder than CPA exam.

Thanks!

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[Anonymous]

@kels417 – I found Becker to be harder for BEC, REG and FAR (can't speak to Wiley for AUD because I didn't use it for that), but I found the tone of the questions on the real exams to be closer to Wiley. For my own personal comfort level I knew I had do both Becker and Wiley for FAR and I think it paid off because it forced me to think about things in different ways.

[Anonymous]

@kels417 – I found Becker to be harder for BEC, REG and FAR (can't speak to Wiley for AUD because I didn't use it for that), but I found the tone of the questions on the real exams to be closer to Wiley. For my own personal comfort level I knew I had do both Becker and Wiley for FAR and I think it paid off because it forced me to think about things in different ways.

[Author]

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