FAR Study Group October November 2013 - Page 64

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  • October 3, 2013 at 1:48 am #476938
    Anonymous
    Inactive

    ZSRizvi – tomorrow is IT for you! After that you will never have to think about FAR again!!!

    But please come back because I still need your help… 😉

    Edited, thank you for answering my last question on CAFR.

    October 3, 2013 at 1:51 am #476872
    Anonymous
    Inactive

    Gov't question… For the gov't wide changes in net position, why do you include principal payments on debt in the calculation but not interest payments on debt during the period? And why would you include interest payable as an expense if you're not including the interest you paid earlier?

    Anyone doing Becker, this is MCQ 50 of 70 in the first module of Chapter 9.

    October 3, 2013 at 1:51 am #476940
    Anonymous
    Inactive

    Gov't question… For the gov't wide changes in net position, why do you include principal payments on debt in the calculation but not interest payments on debt during the period? And why would you include interest payable as an expense if you're not including the interest you paid earlier?

    Anyone doing Becker, this is MCQ 50 of 70 in the first module of Chapter 9.

    October 3, 2013 at 2:08 am #476874
    ZSRizvi
    Member

    Thanks you guys!

    Hoping the studying is enough to let me pass. At this point, I don't care if I score in the high 90s or whatever. I just need that 75.

    Also, DJN, I had tried researching that info earlier and didn't come across anything. Becker needs to give better explanations as to why interest on debt isn't included in the reconciliation.

    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 3, 2013 at 2:08 am #476942
    ZSRizvi
    Member

    Thanks you guys!

    Hoping the studying is enough to let me pass. At this point, I don't care if I score in the high 90s or whatever. I just need that 75.

    Also, DJN, I had tried researching that info earlier and didn't come across anything. Becker needs to give better explanations as to why interest on debt isn't included in the reconciliation.

    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 3, 2013 at 2:16 am #476876
    Anonymous
    Inactive

    Seriously ZSRizvi, sometimes Becker totally snipers me with these random things and then no explanation!!!

    October 3, 2013 at 2:16 am #476944
    Anonymous
    Inactive

    Seriously ZSRizvi, sometimes Becker totally snipers me with these random things and then no explanation!!!

    October 3, 2013 at 2:18 am #476878
    nbad311
    Member

    I want like, 20 questions on cash / cash equivalents on my exam. Easiest questions ever. I was doing my bonds chapter and I had to stop because I was starting to rage and it was getting unproductive. Back to the cash questions. my comfort area!

    REG - 65, 70, 80!
    BEC - 35, 62, 79!
    AUD - 73, 75!
    FAR - 65, 73, 70, 75! DONE.

    October 3, 2013 at 2:18 am #476946
    nbad311
    Member

    I want like, 20 questions on cash / cash equivalents on my exam. Easiest questions ever. I was doing my bonds chapter and I had to stop because I was starting to rage and it was getting unproductive. Back to the cash questions. my comfort area!

    REG - 65, 70, 80!
    BEC - 35, 62, 79!
    AUD - 73, 75!
    FAR - 65, 73, 70, 75! DONE.

    October 3, 2013 at 2:29 am #476880
    Anonymous
    Inactive

    Here's a link with detailed info about the net position and change in net position calculation. The second chart talks about including interest payable at the end of the period but only says to include principal payments during the period in the calculation. Very odd… I mean, I'll do whatever they want me to do, but I wish I understood the logic behind it, LOL.

    https://www.sao.wa.gov/EN/ClientSupport/FinancialReporting/LGS/BarsManuals/Documents/BarsManuals/GAAP_p4ch4.pdf

    And yes, nbad311, I'll take a slew of those questions too please!

    October 3, 2013 at 2:29 am #476948
    Anonymous
    Inactive

    Here's a link with detailed info about the net position and change in net position calculation. The second chart talks about including interest payable at the end of the period but only says to include principal payments during the period in the calculation. Very odd… I mean, I'll do whatever they want me to do, but I wish I understood the logic behind it, LOL.

    https://www.sao.wa.gov/EN/ClientSupport/FinancialReporting/LGS/BarsManuals/Documents/BarsManuals/GAAP_p4ch4.pdf

    And yes, nbad311, I'll take a slew of those questions too please!

    October 3, 2013 at 2:37 am #476882
    NYCaccountant
    Participant

    Wiley mentions none of this! lol again i'm in the cold! It might be because the payable is a recorded liability and the interest is not. When I want to the know the net change in my assets, I just look at the balance sheet. IDK bed time lol.

    Hey NBA can you send me some Bond questions? I don't understand what the big fuss is with them, I think Wiley is tricking me with easy Bond questions.

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

    October 3, 2013 at 2:37 am #476950
    NYCaccountant
    Participant

    Wiley mentions none of this! lol again i'm in the cold! It might be because the payable is a recorded liability and the interest is not. When I want to the know the net change in my assets, I just look at the balance sheet. IDK bed time lol.

    Hey NBA can you send me some Bond questions? I don't understand what the big fuss is with them, I think Wiley is tricking me with easy Bond questions.

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

    October 3, 2013 at 2:46 am #476884
    nbad311
    Member

    Whoa, that list of reconciling items,… no thanks. I can't imagine you'd get more than 1 super in-depth question on that kind of stuff. I'm sure if you looked at it long enough, you'd see a pattern just like any list of reconciling items (like on Cash flow stuff)

    I think the last page of that link is the meat & potatoes of GWFS and the reconciliation process. Gleim's MCQs hit on those main points a lot. Not so much the specific pluses/minus of each item

    REG - 65, 70, 80!
    BEC - 35, 62, 79!
    AUD - 73, 75!
    FAR - 65, 73, 70, 75! DONE.

    October 3, 2013 at 2:46 am #476952
    nbad311
    Member

    Whoa, that list of reconciling items,… no thanks. I can't imagine you'd get more than 1 super in-depth question on that kind of stuff. I'm sure if you looked at it long enough, you'd see a pattern just like any list of reconciling items (like on Cash flow stuff)

    I think the last page of that link is the meat & potatoes of GWFS and the reconciliation process. Gleim's MCQs hit on those main points a lot. Not so much the specific pluses/minus of each item

    REG - 65, 70, 80!
    BEC - 35, 62, 79!
    AUD - 73, 75!
    FAR - 65, 73, 70, 75! DONE.

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