[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

[Jigar]

Hi Keri641, i think so it should be =PV(0.04,10,0,-100000,0). this should work.

Good luck for your exam

[Jigar]

Hi Keri641, i think so it should be =PV(0.04,10,0,-100000,0). this should work.

Good luck for your exam

[kmm1216]

I have a quick question regarding the research TBS questions when doing them for practice. I may have overlooked something, but where can I find the actual function to search this stuff? I'm using Roger (with Wiley TB's & Software). I tried looking in the Wiley software but couldn't find anywhere to just search stuff for practice research questions.

BEC: 88 (8/27/13)
FAR: 93 (12/3/13)
REG: 92 (2/27/14)
AUD: 95 (4/22/14)

Roger CPA, Wiley Test Banks, NINJA Notes & Audio

[kmm1216]

I have a quick question regarding the research TBS questions when doing them for practice. I may have overlooked something, but where can I find the actual function to search this stuff? I'm using Roger (with Wiley TB's & Software). I tried looking in the Wiley software but couldn't find anywhere to just search stuff for practice research questions.

BEC: 88 (8/27/13)
FAR: 93 (12/3/13)
REG: 92 (2/27/14)
AUD: 95 (4/22/14)

Roger CPA, Wiley Test Banks, NINJA Notes & Audio

[Anonymous]

@kmm1216, just breath. I found the best way to practice sims research was using the AICPA library because you can search within your results. Then you can compare your answer to your WTB or book.

Good luck. Its not over until the examiners sing.

[Anonymous]

@kmm1216, just breath. I found the best way to practice sims research was using the AICPA library because you can search within your results. Then you can compare your answer to your WTB or book.

Good luck. Its not over until the examiners sing.

[mjp44]

Do we really have to know the PV function for the sims? I have taken the exam 3 times now and I havent had to use it. I figured if we need to find pv/fv of a dollar amount they would just give us the tables in the resources.

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[mjp44]

Do we really have to know the PV function for the sims? I have taken the exam 3 times now and I havent had to use it. I figured if we need to find pv/fv of a dollar amount they would just give us the tables in the resources.

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[robomarcus]

@W_HAMILTON

I experienced the same thing while going through the lecture videos of FAR. Around video 6 or 7 it all just started blurring together.

I was scheduled to take the exam October 31st, but going through this material I know I just won't be ready by then. Bonds are killing me. I'm better at them after spending two nights trying to dial down on them, but they still give me trouble, especially the simulations. There's one practice simulation where I'm sure there is some missing information because it asks you to calculate the price of the bond, but it doesn't give you any present value information, or tell you what the bonds are selling for. Needless to say I'm a little frustrated with Becker when it comes to FAR. And their solutions don't really go into too much detail explaining the practice simulations. But I've moved my exam to November 25th. I still need to go through F6-F10 again, and then I'm just going to try and get my averages up through the practice questions and the simulations. Hopefully I'll be ready by then and I can get the CPA Exam out of my life for good.

REG - 76 (Exp 1/27/14); 3 attempts to pass
BEC - 83; 2 attempts to pass
AUD - 80; 3 attempts to pass
FAR - Nov 25th; 2nd attempt

[robomarcus]

@W_HAMILTON

I experienced the same thing while going through the lecture videos of FAR. Around video 6 or 7 it all just started blurring together.

I was scheduled to take the exam October 31st, but going through this material I know I just won't be ready by then. Bonds are killing me. I'm better at them after spending two nights trying to dial down on them, but they still give me trouble, especially the simulations. There's one practice simulation where I'm sure there is some missing information because it asks you to calculate the price of the bond, but it doesn't give you any present value information, or tell you what the bonds are selling for. Needless to say I'm a little frustrated with Becker when it comes to FAR. And their solutions don't really go into too much detail explaining the practice simulations. But I've moved my exam to November 25th. I still need to go through F6-F10 again, and then I'm just going to try and get my averages up through the practice questions and the simulations. Hopefully I'll be ready by then and I can get the CPA Exam out of my life for good.

REG - 76 (Exp 1/27/14); 3 attempts to pass
BEC - 83; 2 attempts to pass
AUD - 80; 3 attempts to pass
FAR - Nov 25th; 2nd attempt

[Anonymous]

Manhof Co. prepares supplementary reports on income from continuing operations on a current cost basis in accordance with FASB Statement No. 89, Financial Reporting and Changing Prices. How should Manhof compute cost of goods sold on a current cost basis?

A) Number of units sold times average current cost of units during the year

B) Number of units sold times current cost of units at year end

C) Number of units sold times current cost of units at the beginning of the year

D) Beginning inventory at current cost plus cost of goods purchased less ending inventory at current cost

Answer is A. Why? I read that current cost accounting means you are taking the replacement cost today as the basis for valuation…why is it using average cost?

[Anonymous]

Manhof Co. prepares supplementary reports on income from continuing operations on a current cost basis in accordance with FASB Statement No. 89, Financial Reporting and Changing Prices. How should Manhof compute cost of goods sold on a current cost basis?

A) Number of units sold times average current cost of units during the year

B) Number of units sold times current cost of units at year end

C) Number of units sold times current cost of units at the beginning of the year

D) Beginning inventory at current cost plus cost of goods purchased less ending inventory at current cost

Answer is A. Why? I read that current cost accounting means you are taking the replacement cost today as the basis for valuation…why is it using average cost?

[Anonymous]

New to the board. I've been studying far which is my first test for a good 2 months and am scheduled for Oct 31. I'm using roger and Wiley test bank and generally score 65-70 on the mc when I take a practice test. I still really need to go over a few topics more in depth but I was wondering how much trouble am I in? Should I push it back instead of potentially failing? Just wondering cuz I have no experience in this situation or really any one to ask at work or school.

[Anonymous]

New to the board. I've been studying far which is my first test for a good 2 months and am scheduled for Oct 31. I'm using roger and Wiley test bank and generally score 65-70 on the mc when I take a practice test. I still really need to go over a few topics more in depth but I was wondering how much trouble am I in? Should I push it back instead of potentially failing? Just wondering cuz I have no experience in this situation or really any one to ask at work or school.

[AGI]

@dante042104

When you are dealing with cost of good sold, always assume it's a “through-out” year deal. It's true that t current cost BASICALLY means taking the replacement cost today as the basis for valuation. BUT THAT'S NOT REALLY TRUE. If you are dealing with anything that is related to operation (ex. COGS, NI, Sales…) current cost = “Assume your company worked out whole year and that sales is eventually distributed through-out the year” current cost will be averaged year cost. HOWEVER, if you are talking about current cost of equipment, then current cost will be year-end cost.

Suggestion: Get a “current year cost” table and just memorize it!

---

At least the above is my assumption on “current cost”, from my accounting class back in school.

New York - NYC
Passed CPA Exam (11/2014)
In search for a position in NYC that will fulfills the license requirement.

[Author]

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