[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

[kels417]

Hey everyone. I just finished redoing all of the Becker questions and retaking the progress tests (3rd time through it all). I am now moving on to Wiley (which is new for me this time).

What would you say the average percentage is for the first time around? I'm scoring between 60-70%. Just wanted to check if that was normal or maybe a bit low?

Thanks!

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[kels417]

Hey everyone. I just finished redoing all of the Becker questions and retaking the progress tests (3rd time through it all). I am now moving on to Wiley (which is new for me this time).

What would you say the average percentage is for the first time around? I'm scoring between 60-70%. Just wanted to check if that was normal or maybe a bit low?

Thanks!

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[mjp44]

Gain recognition for sale-leaseback transactions. I would just like to clarify the different exceptions for recognizing a gain on a sale leaseback

Minor: If the seller-lessee retains a minor part (<10%) of the asset any gain is recognized in full

Mid: If the seller-lessee retains more than a minor part (>10%) but less than substantially all (<90%) of the asset any gain is recognized up to the amount of pv lease payments. Therefore, recognize part of the gain that is in excess of the pv lease payments.

Major: If the seller-lessee retains substantially all of the asset the entire gain is deferred and amortized.

What constitutes a minor, mid or major part? Is it based on the lease life vs the useful life of the asset or the pv of lease payments vs the selling price of the asset? Or do you consider both?

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]

Gain recognition for sale-leaseback transactions. I would just like to clarify the different exceptions for recognizing a gain on a sale leaseback

Minor: If the seller-lessee retains a minor part (<10%) of the asset any gain is recognized in full

Mid: If the seller-lessee retains more than a minor part (>10%) but less than substantially all (<90%) of the asset any gain is recognized up to the amount of pv lease payments. Therefore, recognize part of the gain that is in excess of the pv lease payments.

Major: If the seller-lessee retains substantially all of the asset the entire gain is deferred and amortized.

What constitutes a minor, mid or major part? Is it based on the lease life vs the useful life of the asset or the pv of lease payments vs the selling price of the asset? Or do you consider both?

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.

[Monir]

@mjp44, Its PV of lease payment , thats it ! 1st you would do, sales price X % then compare with pv of lease payment

[Monir]

@mjp44, Its PV of lease payment , thats it ! 1st you would do, sales price X % then compare with pv of lease payment

[Tuthegreat]

So I'm a bit confused with the retail inventory method. Specifically the cost ratio. I'm using the 2012 Becker material. F-4 optional practice question got me confused. One MCQ has it setup as: purchase@retail + markups – markdown. In another has it set up as: purchase@retail + markup only.

I'm looking at Becker2012 F4 optional practice #34 &39. Thanks

[Tuthegreat]

So I'm a bit confused with the retail inventory method. Specifically the cost ratio. I'm using the 2012 Becker material. F-4 optional practice question got me confused. One MCQ has it setup as: purchase@retail + markups – markdown. In another has it set up as: purchase@retail + markup only.

I'm looking at Becker2012 F4 optional practice #34 &39. Thanks

[jeff]

Free pensions Video: https://www.another71.com/ninja-blitz/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[jeff]

Free pensions Video: https://www.another71.com/ninja-blitz/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

Thanks for the video Jeff but now I'm confused…my course said to use expected return not the actual return for computing pension expense. So now I went researching and keep getting more confused and getting different answers. Anyone?

[Anonymous]

Thanks for the video Jeff but now I'm confused…my course said to use expected return not the actual return for computing pension expense. So now I went researching and keep getting more confused and getting different answers. Anyone?

[jeff]

Sorry about the confusion:

You have to account for the difference between actual and expected as a gain or loss, so I have the unexpected +Loss or -Gain to reflect that.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[jeff]

Sorry about the confusion:

You have to account for the difference between actual and expected as a gain or loss, so I have the unexpected +Loss or -Gain to reflect that.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

ah ok. thanks

[Author]

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