FAR Study Group October November 2013 - Page 96

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  • October 23, 2013 at 8:14 pm #477436
    Anonymous
    Inactive

    ah ok. thanks

    October 24, 2013 at 4:03 pm #477369
    superstani
    Member

    So I'm retaking FAR section i got 64 last time out. I was wondering what are Ninja notes and will they help enough to pass or do you recommend additional material. Also I'm using Becker's review

    thanks,

    FAR-79
    REG-79
    BEC-81
    AUD-82

    October 24, 2013 at 4:03 pm #477440
    superstani
    Member

    So I'm retaking FAR section i got 64 last time out. I was wondering what are Ninja notes and will they help enough to pass or do you recommend additional material. Also I'm using Becker's review

    thanks,

    FAR-79
    REG-79
    BEC-81
    AUD-82

    October 24, 2013 at 10:11 pm #477371
    JayPagan
    Member

    Got this question from Gleim regarding note disclosures for pension plans. Is this answer correct? i dont want to believe it lol usually the answer is always more disclosure.

    Question

    Note section disclosures in the financial statements of a public entity that sponsors a defined benefit pension plan for its employees are not required to include

    Answer

    The guidance on pension accounting originally required disclosure of a detailed description of the plan, including employee groups covered. However, the currently effective disclosure requirements do not require this disclosure.

    AUD- 77 (11/20/09) Lost credit- Retake TBD
    FAR - 77 (3/8/12) Lost credit Retake 11/26/13
    BEC - 81 (5/4/09) Lost credit, 74 - Retake Feb 2014
    Reg - 69 (5/5/12) Retake Jan 2014

    October 24, 2013 at 10:11 pm #477442
    JayPagan
    Member

    Got this question from Gleim regarding note disclosures for pension plans. Is this answer correct? i dont want to believe it lol usually the answer is always more disclosure.

    Question

    Note section disclosures in the financial statements of a public entity that sponsors a defined benefit pension plan for its employees are not required to include

    Answer

    The guidance on pension accounting originally required disclosure of a detailed description of the plan, including employee groups covered. However, the currently effective disclosure requirements do not require this disclosure.

    AUD- 77 (11/20/09) Lost credit- Retake TBD
    FAR - 77 (3/8/12) Lost credit Retake 11/26/13
    BEC - 81 (5/4/09) Lost credit, 74 - Retake Feb 2014
    Reg - 69 (5/5/12) Retake Jan 2014

    October 25, 2013 at 3:44 am #477373
    Anonymous
    Inactive

    Testing on Saturday … took the day off tomorrow for a last minute review, and ended up having two interviews scheduled in the morning!! However, I will use the rest of the day to study, then go play a friendly game of poker tomorrow night!! Wake up bright and early and take on the FAR exam for the second time. I feel better prepared this time, and decided not to try to cram the night before, so hopefully it works! Still trying to decide if I want to do the “Final Exam” from my Becker course. Last time it just made me depressed, and it's so freaking LONG!!

    Good luck to everyone taking the exam this quarter, and may all your questions be easy, and all your SIMS be two-line journal entries 🙂

    -Brynda

    FAR – Feb 2013 – 71; retake 10/26

    AUD – Apr 2013 – 54; retake 12/05

    BEC – Jan 2014

    REG – Feb 2014

    October 25, 2013 at 3:44 am #477444
    Anonymous
    Inactive

    Testing on Saturday … took the day off tomorrow for a last minute review, and ended up having two interviews scheduled in the morning!! However, I will use the rest of the day to study, then go play a friendly game of poker tomorrow night!! Wake up bright and early and take on the FAR exam for the second time. I feel better prepared this time, and decided not to try to cram the night before, so hopefully it works! Still trying to decide if I want to do the “Final Exam” from my Becker course. Last time it just made me depressed, and it's so freaking LONG!!

    Good luck to everyone taking the exam this quarter, and may all your questions be easy, and all your SIMS be two-line journal entries 🙂

    -Brynda

    FAR – Feb 2013 – 71; retake 10/26

    AUD – Apr 2013 – 54; retake 12/05

    BEC – Jan 2014

    REG – Feb 2014

    October 25, 2013 at 3:37 pm #477375
    kels417
    Member

    Soooo….nobody's using Wiley test bank? Just looking for some guidance on a “normal” practice session score for the first time through. I've been getting between 60-70%. Trying to learn from the answers and not focus as much on the percentages, but I would like something to compare it to. 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

    October 25, 2013 at 3:37 pm #477446
    kels417
    Member

    Soooo….nobody's using Wiley test bank? Just looking for some guidance on a “normal” practice session score for the first time through. I've been getting between 60-70%. Trying to learn from the answers and not focus as much on the percentages, but I would like something to compare it to. 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

    October 25, 2013 at 5:55 pm #477378
    mjp44
    Member

    Hi guys. Check out this question from WTB. Im pretty sure the answer to this question is wrong. I dont think this has been posted yet.

    Dee’s inventory and accounts payable balances at December 31, year 2, increased over their December 31, year 1, balances. Should these increases be added to or deducted from cash payments to suppliers to arrive at year 2 cost of goods sold?

    Increase in inventory Increase in accounts payable

    A. Added to Deducted from

    B. Added to Added to

    C. Deducted from Deducted from

    D. Deducted from Added to

    I chose A ,WTB says D.

    Unless i read the question wrong…if A/P increases; you deduct that increase from COGS due to non cash event. Likewise, if inventory increases, COGS decreases so you add that noncash decrease back to COGS.

    Am I missing something here?

    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.

    October 25, 2013 at 5:55 pm #477448
    mjp44
    Member

    Hi guys. Check out this question from WTB. Im pretty sure the answer to this question is wrong. I dont think this has been posted yet.

    Dee’s inventory and accounts payable balances at December 31, year 2, increased over their December 31, year 1, balances. Should these increases be added to or deducted from cash payments to suppliers to arrive at year 2 cost of goods sold?

    Increase in inventory Increase in accounts payable

    A. Added to Deducted from

    B. Added to Added to

    C. Deducted from Deducted from

    D. Deducted from Added to

    I chose A ,WTB says D.

    Unless i read the question wrong…if A/P increases; you deduct that increase from COGS due to non cash event. Likewise, if inventory increases, COGS decreases so you add that noncash decrease back to COGS.

    Am I missing something here?

    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.

    October 25, 2013 at 6:07 pm #477380
    mjp44
    Member

    Whooops! I DID read the question wrong. Its asking to covnvert cash to accrual here. I totally understand now!

    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.

    October 25, 2013 at 6:07 pm #477450
    mjp44
    Member

    Whooops! I DID read the question wrong. Its asking to covnvert cash to accrual here. I totally understand now!

    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.

    October 25, 2013 at 9:47 pm #477382
    gingercpa
    Member

    @kels417 — I would pull at least 30 mc per session from all topics still in the study mode and try to finish it in 40 minutes and see if you can score at least 75%.

    Why I am picking study mode is if you get one wrong you can see right away why you got it wrong. Read the explanation and master it. For correct ones if you know the reason behind it then I wouldn’t worry much about it and just move on.

    And also since Govt and NP are heavily tested I would pull those two together as a separate session from other topics.

    AUD:78-5/13
    FAR:84-10/20
    REG:79- 12/5
    BEC:Feb
    CAL Candidate

    October 25, 2013 at 9:47 pm #477452
    gingercpa
    Member

    @kels417 — I would pull at least 30 mc per session from all topics still in the study mode and try to finish it in 40 minutes and see if you can score at least 75%.

    Why I am picking study mode is if you get one wrong you can see right away why you got it wrong. Read the explanation and master it. For correct ones if you know the reason behind it then I wouldn’t worry much about it and just move on.

    And also since Govt and NP are heavily tested I would pull those two together as a separate session from other topics.

    AUD:78-5/13
    FAR:84-10/20
    REG:79- 12/5
    BEC:Feb
    CAL Candidate

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