FAR Study Group October November 2013 - Page 60

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  • October 2, 2013 at 4:36 pm #476877
    ZSRizvi
    Member

    I'm taking my REG material with me to India, LOL.

    Not that I'll be getting any studying done since I'm going for a wedding but at least I'll make an effort.

    I have specifically quarantined myself from the dating scene. Well, not that it makes a difference ahahaha.

    BEC (July 2013)
    FAR (OCT 2013)
    REG (NOV 2013)
    AUD (JAN 2014)

    The CPA Exam is an opponent that not even the Fellowship of the Ring would want to come across.

    I have a long...long...journey ahead of me.

    October 2, 2013 at 4:41 pm #476813
    Anonymous
    Inactive

    I got the brilliant idea last August to become a CPA. With a master's degree in finance it should be *easy* — right? Well it turns out ONLY ONE of the courses I ever took counted as actual accounting so after taking the additional 27 credit hours needed (9 of which came through the Becker review classes that I took through Keller to get the credits) and studying for one exam or another NONSTOP since April I'm pretty sure my boyfriend doesn't even have a clear image of what I look like any more, other than a head bent over a book or staring into the screen of a laptop! And the worst part is, I was just BORED and thought this would be INTERESTING. Being a CPA doesn't even matter to my actual career (although I am in the financial industry), and my boss thinks I'm crazy for putting myself through this.

    Next time I get bored I'm going to take salsa dancing or Spanish classes!!!

    October 2, 2013 at 4:41 pm #476879
    Anonymous
    Inactive

    I got the brilliant idea last August to become a CPA. With a master's degree in finance it should be *easy* — right? Well it turns out ONLY ONE of the courses I ever took counted as actual accounting so after taking the additional 27 credit hours needed (9 of which came through the Becker review classes that I took through Keller to get the credits) and studying for one exam or another NONSTOP since April I'm pretty sure my boyfriend doesn't even have a clear image of what I look like any more, other than a head bent over a book or staring into the screen of a laptop! And the worst part is, I was just BORED and thought this would be INTERESTING. Being a CPA doesn't even matter to my actual career (although I am in the financial industry), and my boss thinks I'm crazy for putting myself through this.

    Next time I get bored I'm going to take salsa dancing or Spanish classes!!!

    October 2, 2013 at 5:01 pm #476815
    ZSRizvi
    Member

    @DJN

    I don't know why you would put yourself through this torture. I would sure as hell not take this exam if my career didn't depend on it.

    I initially wanted to be an architect, while doing creative writing part-time. Perhaps once I've settled into my career, I can still pursue the latter.

    Also I was wondering if you remember from F7 (stockholders' equity) a question pertaining to a liquidating dividend. There are two questions that both ask about how a liquidating dividend affects APIC and R/E. One answer they give is that APIC isn't affect while R/E decreases. The other answer says both decrease. Which one is right?

    BEC (July 2013)
    FAR (OCT 2013)
    REG (NOV 2013)
    AUD (JAN 2014)

    The CPA Exam is an opponent that not even the Fellowship of the Ring would want to come across.

    I have a long...long...journey ahead of me.

    October 2, 2013 at 5:01 pm #476881
    ZSRizvi
    Member

    @DJN

    I don't know why you would put yourself through this torture. I would sure as hell not take this exam if my career didn't depend on it.

    I initially wanted to be an architect, while doing creative writing part-time. Perhaps once I've settled into my career, I can still pursue the latter.

    Also I was wondering if you remember from F7 (stockholders' equity) a question pertaining to a liquidating dividend. There are two questions that both ask about how a liquidating dividend affects APIC and R/E. One answer they give is that APIC isn't affect while R/E decreases. The other answer says both decrease. Which one is right?

    BEC (July 2013)
    FAR (OCT 2013)
    REG (NOV 2013)
    AUD (JAN 2014)

    The CPA Exam is an opponent that not even the Fellowship of the Ring would want to come across.

    I have a long...long...journey ahead of me.

    October 2, 2013 at 5:08 pm #476817
    NYCaccountant
    Participant

    ZSR Liquidating Dividend is a return of capital. If the entire dividend is liquidating than only APIC decreases. If a portion of it is from earnings and the other portion is liquidating than they both decrease.

    FAR - 93
    REG - 87
    BEC - 84!!!!
    AUD - 99!!!!!! CPA exam complete.

    October 2, 2013 at 5:08 pm #476883
    NYCaccountant
    Participant

    ZSR Liquidating Dividend is a return of capital. If the entire dividend is liquidating than only APIC decreases. If a portion of it is from earnings and the other portion is liquidating than they both decrease.

    FAR - 93
    REG - 87
    BEC - 84!!!!
    AUD - 99!!!!!! CPA exam complete.

    October 2, 2013 at 5:09 pm #476819
    Anonymous
    Inactive

    ZSRizvi, do you happen to know the module and numbers of the MCQs? I'll go look them up. If you don't have the info on them I can look through my notes and see if they might be ones that I printed (because god knows I've printed SO MUCH STUFF in this process there is a very good chance I could have it in hard copy).

    Edit: I just went through my pages. Since a div comes out of RE, reduce that until it is gone and then dip into APIC. Does that help?

    And honestly, I really didn't know what I was getting into with this. I was in Kansas City temporarily and bored OUT OF MY MIND. My two best options (so I thought at the time) were to either finish law school (which I left after three miserable semesters) or do this. What can I say… here I am.

    October 2, 2013 at 5:09 pm #476885
    Anonymous
    Inactive

    ZSRizvi, do you happen to know the module and numbers of the MCQs? I'll go look them up. If you don't have the info on them I can look through my notes and see if they might be ones that I printed (because god knows I've printed SO MUCH STUFF in this process there is a very good chance I could have it in hard copy).

    Edit: I just went through my pages. Since a div comes out of RE, reduce that until it is gone and then dip into APIC. Does that help?

    And honestly, I really didn't know what I was getting into with this. I was in Kansas City temporarily and bored OUT OF MY MIND. My two best options (so I thought at the time) were to either finish law school (which I left after three miserable semesters) or do this. What can I say… here I am.

    October 2, 2013 at 5:09 pm #476821
    Anonymous
    Inactive

    Hey @NYCaccountant you and I on the same schedule but I am taking FAR later 17 days to be exact. Then REG sometime in Nov hopefully before turkey day because I want to rest that week.

    I so cant wait to be done with this CPA thing (well now FAR at least)

    October 2, 2013 at 5:09 pm #476887
    Anonymous
    Inactive

    Hey @NYCaccountant you and I on the same schedule but I am taking FAR later 17 days to be exact. Then REG sometime in Nov hopefully before turkey day because I want to rest that week.

    I so cant wait to be done with this CPA thing (well now FAR at least)

    October 2, 2013 at 5:10 pm #476823
    NYCaccountant
    Participant

    @ DJN I can say studying for FAR has been so mentally draining lol. I was the kid who sat in the back of class and read the news. I would study the day before each test and get a 100. I cannot do this for this test though, so it's been a reality check! lol

    FAR - 93
    REG - 87
    BEC - 84!!!!
    AUD - 99!!!!!! CPA exam complete.

    October 2, 2013 at 5:10 pm #476889
    NYCaccountant
    Participant

    @ DJN I can say studying for FAR has been so mentally draining lol. I was the kid who sat in the back of class and read the news. I would study the day before each test and get a 100. I cannot do this for this test though, so it's been a reality check! lol

    FAR - 93
    REG - 87
    BEC - 84!!!!
    AUD - 99!!!!!! CPA exam complete.

    October 2, 2013 at 5:14 pm #476825
    Anonymous
    Inactive

    NYC, even though I will (hopefully!) be long gone from this forum before you get results from your other three tests (we will get FAR together on Nov 1) I want you to email me when you walk away with the ESW award because if you do the others like you're doing this one you're getting 99s across the board!

    And in the thread where someone asked people to sum up the CPA experience in one word, mine was “humbling.” I know exactly where you're coming from.

    October 2, 2013 at 5:14 pm #476891
    Anonymous
    Inactive

    NYC, even though I will (hopefully!) be long gone from this forum before you get results from your other three tests (we will get FAR together on Nov 1) I want you to email me when you walk away with the ESW award because if you do the others like you're doing this one you're getting 99s across the board!

    And in the thread where someone asked people to sum up the CPA experience in one word, mine was “humbling.” I know exactly where you're coming from.

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