[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

[Monir]

@ZSR, I think when you purchase goods title is a important factor. Oct 1 the contract was initied but the title has not passed to buyer. In this case, title passes on Dec 15 and that's the date should be used to record your J/E. It's just like FOB shipping point and destination

[Monir]

@DJN, in step 2, you compare with FV or PV

FV or PV

minus Net CV

= Impairment

If it's for disposal, you gotta add disposal cost to get impairment

Thx

[Monir]

@DJN, in step 2, you compare with FV or PV

FV or PV

minus Net CV

= Impairment

If it's for disposal, you gotta add disposal cost to get impairment

Thx

[Ib]

I am preparing for FAR, started a week ago. With a full time job and family it seems like a pretty tough goal. I assume there are many in the same situation. How many hours or chapters you guys study every week? What should be the normal progression? I am using Yaeger, Ninja Audio/notes, Wiley text book and online MCQS/SIMS. Some users here say that Wiley SIMS underprepare you for the final exam. Which software will you recommend for FAR-SIMS?

Thank you for your help!

FAR 79
AUD 87
BEC 78
REG 08/31/2016

[Ib]

I am preparing for FAR, started a week ago. With a full time job and family it seems like a pretty tough goal. I assume there are many in the same situation. How many hours or chapters you guys study every week? What should be the normal progression? I am using Yaeger, Ninja Audio/notes, Wiley text book and online MCQS/SIMS. Some users here say that Wiley SIMS underprepare you for the final exam. Which software will you recommend for FAR-SIMS?

Thank you for your help!

FAR 79
AUD 87
BEC 78
REG 08/31/2016

[Anonymous]

@Monir – so in step 1 you compare NCV to FV and if FV is lower you then compare it to PV as Step 2? Can you give me an example with very simple numbers? (Sorry to be such a PITA — for some reason this concept excapes me, and I really appreciate the help!)

Also, in all cases (GAAP infinite lived and finite lived and IFRS) you always take disposal costs into account?

[Anonymous]

@Monir – so in step 1 you compare NCV to FV and if FV is lower you then compare it to PV as Step 2? Can you give me an example with very simple numbers? (Sorry to be such a PITA — for some reason this concept excapes me, and I really appreciate the help!)

Also, in all cases (GAAP infinite lived and finite lived and IFRS) you always take disposal costs into account?

[Monir]

@DJN, In step one would be Undiscounted cash flow minus – NCV

For example , Undiscounted cash flow 25k, NCV 30k so you have have 5K impairment,

now you are gonna take the FV ( if no FV given take the PV) minus NCV

Example, FV 22k minus 30k NCV = Impairment of 8k

Hope it helps

[Monir]

@DJN, In step one would be Undiscounted cash flow minus – NCV

For example , Undiscounted cash flow 25k, NCV 30k so you have have 5K impairment,

now you are gonna take the FV ( if no FV given take the PV) minus NCV

Example, FV 22k minus 30k NCV = Impairment of 8k

Hope it helps

[Monir]

you would write down 8k and I believe your new CV and FV would be 22k ( sorry not good at explanation )

[Monir]

you would write down 8k and I believe your new CV and FV would be 22k ( sorry not good at explanation )

[Anonymous]

@Monir – thank you so much!

[Anonymous]

@Monir – thank you so much!

[Monir]

I hope you got the concepts. I had hard time to understand but after reviewing few times I got comfortable. Wait till you get F5, bonds calucation are nuts ( convertible bonds, detachable bonds)

[Monir]

I hope you got the concepts. I had hard time to understand but after reviewing few times I got comfortable. Wait till you get F5, bonds calucation are nuts ( convertible bonds, detachable bonds)

[Author]

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