[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

[nbad311]

I'm currently going between phases of FREAKING OUT and being boisterously confident…. sometimes in the same day!!

I am re-taking my exam Sunday. I got a 70 with pretty minimal studying last time (but with a previous base of FAR knowledge from 2 attempts in 2008 and 2009 – whatever that is worth), so I'm thinking since I have been studying a LOT and feel as if I'm retaining and learning SO MUCH more this time, I am definitely going to get those 5 extra points. But we all know it's really *75* points I need to get.

Pass and I'm done forever. Don't pass and I'm into my last testing quarter to pass before I lose REG (and sorrowful holiday season). I don't want to get to that point. Despite my sometimes waivering confidence, this has been one of my only tests I haven't wanted to or even thought about rescheduling to a later date. From the day I got my 70, I committed to take it on time for the 11/1 or 11/4 release date and have been studying as if this were my very last shot. This concludes nbad's inner thoughts for the day.

@DJN, are you taking your exam tomorrow?? Good luck!!!!

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

[NYCaccountant]

Good luck to everyone sitting for the exam this weekend (special shoutout to DJN, who I think sits tomorrow?). I'm going to begin studying for REG this weekend, and hopefully wom't have to face FAR again.

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

[NYCaccountant]

Good luck to everyone sitting for the exam this weekend (special shoutout to DJN, who I think sits tomorrow?). I'm going to begin studying for REG this weekend, and hopefully wom't have to face FAR again.

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

[Anonymous]

NYC – I was just thinking of you and wondering if you were headed down the REG path yet! And I am SURE you passed and will never have to think about FAR again. BTW, REG was kind of “blech” for me, but if you need any help with AUD let me know. I actually kind of enjoyed AUD, as weird as that sounds. And I think BEC will be easy for you; it's a lot of economics.

nbad311 – if you got a 70 the last time around you will surely do great on Sunday! Come back and let us know how you feel when you get out. And LOL on rescheduling — I was actually supposed to take this on 8/31, pushed it to 10/1, and now tomorrow (and there may have been another date in between, I can't remember now). My NTS expires on Saturday so that kind of sealed it for me!

And yes, 26 hours from now I'll be tacking FAR (but who's counting… ) I simply have NO IDEA how this is going to turn out. My knowledge is SO topic specific on this one for some reason. There are things I “get” and things I don't, so my outcome will largely depend on the test.

OK, off to look over my weak points one more time…

[Anonymous]

NYC – I was just thinking of you and wondering if you were headed down the REG path yet! And I am SURE you passed and will never have to think about FAR again. BTW, REG was kind of “blech” for me, but if you need any help with AUD let me know. I actually kind of enjoyed AUD, as weird as that sounds. And I think BEC will be easy for you; it's a lot of economics.

nbad311 – if you got a 70 the last time around you will surely do great on Sunday! Come back and let us know how you feel when you get out. And LOL on rescheduling — I was actually supposed to take this on 8/31, pushed it to 10/1, and now tomorrow (and there may have been another date in between, I can't remember now). My NTS expires on Saturday so that kind of sealed it for me!

And yes, 26 hours from now I'll be tacking FAR (but who's counting… ) I simply have NO IDEA how this is going to turn out. My knowledge is SO topic specific on this one for some reason. There are things I “get” and things I don't, so my outcome will largely depend on the test.

OK, off to look over my weak points one more time…

[W_HAMILTON]

Ugh, I think I've completely burned out. I tried to take the Becker Far Final Exam #1, and just lost all motivation when I saw a question that had a bunch of numbers in it. My test is this Saturday; I've gone through all the lectures and read the material, but have slacked off when it comes to MCQs and simulations. I'm still debating whether or not to push it back. If you fail a test in one testing window, you can't retake it again in that same window, correct? That's the thing that's keeping me from rescheduling — I really don't wanna have to wait till January to take FAR again if I fail on Saturday, but I really want to pass this thing and get my score in early November, arrrrgh.

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

[W_HAMILTON]

Ugh, I think I've completely burned out. I tried to take the Becker Far Final Exam #1, and just lost all motivation when I saw a question that had a bunch of numbers in it. My test is this Saturday; I've gone through all the lectures and read the material, but have slacked off when it comes to MCQs and simulations. I'm still debating whether or not to push it back. If you fail a test in one testing window, you can't retake it again in that same window, correct? That's the thing that's keeping me from rescheduling — I really don't wanna have to wait till January to take FAR again if I fail on Saturday, but I really want to pass this thing and get my score in early November, arrrrgh.

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

[nbad311]

@DJN , I'll be thinking about ya! and about leases and DTAs and DTLs and %-of-completion all at the same time. 🙂

@W_HAMILTON , correct, only one shot per testing window. You have really great scores – I bet you're ready. If the final practice exam is going to throw you over the edge, don't do it. Stick with whatever final review things you can do that'll keep things fresh but not stressed!

My boss just gave me the day off of work tomorrow. I was going to come in for a half day and leave @ noon (as per my normal Friday-before-weekend-exam routine) but she said to take the whole day off, stay home, chill out, and study. I have so much exam paraphenalia/shrapnel in my cubical right now – sticky notes that I can currently see: Gov't journal entry to record budget, CAFR components, mini bond amort schedule; My white board is counting down my exam days (2); each of my 3 score notices are printed out and pinned on my walls, along with my prometric confirmation for Sunday; an arsenal of highlighters that have doubled for both studying and real work purposes. There's a really good chance I won't ever be studying here at work again, never secretly doing a Gleim quiz in the backround on the internet, no more slyly reviewing Ninja notes by stuffing them in a binder and pretending to look through real work. When I come back on Monday, I'll be playing the waiting game like everyone else in this testing block and instead of studying, will be spending my free time here researching how to make a large PVC pipe Halloween spider for my front yard. It's so crazy.

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

[nbad311]

@DJN , I'll be thinking about ya! and about leases and DTAs and DTLs and %-of-completion all at the same time. 🙂

@W_HAMILTON , correct, only one shot per testing window. You have really great scores – I bet you're ready. If the final practice exam is going to throw you over the edge, don't do it. Stick with whatever final review things you can do that'll keep things fresh but not stressed!

My boss just gave me the day off of work tomorrow. I was going to come in for a half day and leave @ noon (as per my normal Friday-before-weekend-exam routine) but she said to take the whole day off, stay home, chill out, and study. I have so much exam paraphenalia/shrapnel in my cubical right now – sticky notes that I can currently see: Gov't journal entry to record budget, CAFR components, mini bond amort schedule; My white board is counting down my exam days (2); each of my 3 score notices are printed out and pinned on my walls, along with my prometric confirmation for Sunday; an arsenal of highlighters that have doubled for both studying and real work purposes. There's a really good chance I won't ever be studying here at work again, never secretly doing a Gleim quiz in the backround on the internet, no more slyly reviewing Ninja notes by stuffing them in a binder and pretending to look through real work. When I come back on Monday, I'll be playing the waiting game like everyone else in this testing block and instead of studying, will be spending my free time here researching how to make a large PVC pipe Halloween spider for my front yard. It's so crazy.

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

[W_HAMILTON]

Aww, thanks for the words of encouragement, nbad311 🙂 Is your test on Saturday or Sunday? And, yes, it will be a nice relief to at least be finished with studying, at least until we get our scores in the next few weeks 🙂 But what about the ethics test! 😀 I have to take the ethics course on the AICPA site, so I ordered it a day or so ago, figuring I'd get it sometime next week — but I got the damn lil CD today! That means I have something else waiting to be studied, lol. Will it ever end?! 😛

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

[W_HAMILTON]

Aww, thanks for the words of encouragement, nbad311 🙂 Is your test on Saturday or Sunday? And, yes, it will be a nice relief to at least be finished with studying, at least until we get our scores in the next few weeks 🙂 But what about the ethics test! 😀 I have to take the ethics course on the AICPA site, so I ordered it a day or so ago, figuring I'd get it sometime next week — but I got the damn lil CD today! That means I have something else waiting to be studied, lol. Will it ever end?! 😛

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

[Anonymous]

@W_HAMILTON – I missed in your last posted that your test is on Saturday!

I agree with nbad, don't take the Becker test.s I did both of them yesterday and now I wish I hadn't because I'm freaked out all over again. And LOL on the ethics exam. I thought about ordering mine but never got around to it so it looks like I'm off the hook for the weekend. ;-0

Good luck, but you are seriously going to do GREAT!

[Anonymous]

@W_HAMILTON – I missed in your last posted that your test is on Saturday!

I agree with nbad, don't take the Becker test.s I did both of them yesterday and now I wish I hadn't because I'm freaked out all over again. And LOL on the ethics exam. I thought about ordering mine but never got around to it so it looks like I'm off the hook for the weekend. ;-0

Good luck, but you are seriously going to do GREAT!

[Anonymous]

can someone explain the answer to this

Tag Question

Excel City has $1,000,000 of 8%, 10 year general obligation bonds outstanding. The bonds were issue on October 1, 20×8 to finance construction of city park improvements. Interest is payable semiannually on October 1 and April 1. The bonds also require an annual principal payment of $100,000 each April 1. What amount of debt service expenditures should the government report in its Debt Service Fund for the year ended December 31, 20×9?

A.

$76,000

B.

$80,000

C.

$174,000

D.

$176,000

Correct!

Both Interest Expenditures and Principal Expenditures are recognized in the Debt Service Fund. Debt Service Expenditures are usually not accrued at year-end but are recorded as Expenditures when due and payable. In 20×9 the Debt Service Fund paid a total of $176,000-$ $40,000 interest and $100,000 principal on April 1 (both Expenditures of the fund) and $36,000 interest on October 1.

i dont understand why the interest paid on october 1 is 36,000 instead of 40,000?

shouldnt be the october 1 interest payment be for the period from april 1 to october 1 (6 months/12 x 80,000)?

[Anonymous]

can someone explain the answer to this

Tag Question

Excel City has $1,000,000 of 8%, 10 year general obligation bonds outstanding. The bonds were issue on October 1, 20×8 to finance construction of city park improvements. Interest is payable semiannually on October 1 and April 1. The bonds also require an annual principal payment of $100,000 each April 1. What amount of debt service expenditures should the government report in its Debt Service Fund for the year ended December 31, 20×9?

A.

$76,000

B.

$80,000

C.

$174,000

D.

$176,000

Correct!

Both Interest Expenditures and Principal Expenditures are recognized in the Debt Service Fund. Debt Service Expenditures are usually not accrued at year-end but are recorded as Expenditures when due and payable. In 20×9 the Debt Service Fund paid a total of $176,000-$ $40,000 interest and $100,000 principal on April 1 (both Expenditures of the fund) and $36,000 interest on October 1.

i dont understand why the interest paid on october 1 is 36,000 instead of 40,000?

shouldnt be the october 1 interest payment be for the period from april 1 to october 1 (6 months/12 x 80,000)?

[Author]

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