FAR Study Group October November 2017 - Page 3

Viewing 15 replies - 31 through 45 (of 970 total)
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  • #1622354
    lampy44
    Member

    Hey everyone! Taking FAR end of October. As strange as it sounds worried I'm taking too much time to prepare. I feel like every week I move on to new material I lose half of what I learned the week prior. Waiting on AUD score but not holding my breath…

    #1622357
    Lentilcounter
    Participant

    @CPACAL it's 0 because the inventory valuation method change is a change in accounting principle reported retrospectively to beginning retained earnings. It is not going to affect the income statement.

    BEC = 72 (6/08/16)
    FAR = ?
    REG = ?
    AUD = ?

    #1622617
    JMG
    Participant

    I'm getting tripped up on the dates when accruing for bond interest (bond is issued between interest dates), anybody have any tips or good rule of thumb?

    Just to throw some examples out there:

    Bond #1
    Issued: 4/1
    Dated: 1/1
    Interest due: 6/30 & 12/31

    Bond #2
    Issued: 4/1
    Dated: 11/1
    Interest due: 11/1 & 5/1

    #1622626
    Anonymous
    Inactive

    did someone have an experience of passing the exam without finishing one TBS?

    #1622638
    Pawn Maker
    Participant

    JMG – I have seen several questions in CPAExcel which have back dated bonds. I haven't seen a forward dated one yet. If it is back dated I make sure to start the interest calculation from the date of the bond, rather the issuance date. In general I just make sure that I read bond questions really carefully as there are lots of ways they can throw in tricks.

    CPACAL – I haven't, but I have seen people post that they passed and they didn't complete one or two Sims. If you didn't complete one hopefully that was the pretest one!

    #1622687
    lampy44
    Member

    Consolidating Finanicals and Intercompany Transactions. I feel like I was just punched in the face. My college didn't offer advanced accounting the year I graduated. This is coming from left field. I feel like in general I understand why we need to change the accounting for subs and the eliminations. Anyone struggling and found something helpful other than Becker? THey really rush through it…

    #1622711
    msquared17
    Participant

    Hello Everyone,

    I'm taking the exam early November. I've been studying off and on since July. Staying focused has been a challenge. I'm on F3 using Becker and I'm ready to kick it into high gear. I'm 20 years out of school and 10 years out of accounting. The CPA is a very personal goal. So here I am.

    I still haven't figured out the perfect study method. I followed the suggested method for F1 and it seemed never ending. So now I review all the lectures, review text and take notes, skills practice and then multiple choice questions. Sundays will be cumulative review, progress test and sims. So far it's ok. Still struggling with taking notes. I'm not sure that is helping or not.

    Looking forward to the support.

    #1623005
    kay
    Participant

    Took REG in August, I'm 99.99% I failed. I was my first attempt in 5 years and I studied all wrong, putting to much focus on MCQ's and not enough on really learning and internalizing information.

    I've been studying FAR using Surgents Review materials for 4 weeks now. Planning on taking the exam early October. Who else is using the Ninja methods of ELL, and watching all video lectures before starting MCQ's?
    I've watched all my videos and read my review book while taking notes, just finished Surgents “Assessment phase” and still only hitting 50% accuracy. My Plan is to spend the next two weeks re reading the book taking notes and working MCQ's section by section, before using two more weeks to do a comprehensive final review. Really hoping to be ready October 9th, so I can get at least 1 if not 2 more tests in during the Q4 testing window.

    #1623007
    kay
    Participant

    Took REG in August, I'm 99.99% I failed. I was my first attempt in 5 years and I studied all wrong, putting too much focus on MCQ's and not enough on really learning and internalizing information.

    I've been studying FAR using Surgents Review materials for 4 weeks now. Planning on taking the exam early October. Who else is using the Ninja methods of ELL, and watching all video lectures before starting MCQ's?
    I've watched all my videos and read my review book while taking notes, just finished Surgents “Assessment phase” and still only hitting 50% accuracy. My Plan is to spend the next two weeks re reading the book taking notes and working MCQ's section by section, before using two more weeks to do a comprehensive final review. Really hoping to be ready October 9th, so I can get at least 1 if not 2 more tests in during the Q4 testing window.

    #1623142
    kdcpa
    Participant

    Someone, please explain why do we add the NCI in the calculation of goodwill in the acquisition method?

    #1623269
    gguzman
    Participant

    I don't understand what is wrong. With REG I felt like I had a fighting chance, but with FAR I feel like I have no idea where to even begin with some stuff. I am only a week into studying for FAR, maybe If I keep trying? most things are going right over my head though. I just graduated from college last year.

    I am trying to weigh the misery of feeling like an idiot all the time with the benefits of passing this thing.

    Just needed to vent some frustration. better get back to Back to it.

    #1623295
    Anonymous
    Inactive

    I'm not sure how they wouldn't have records to support any change, but it seems to me that the principle is the same: any change would be made to the beginning balance of Retained Earnings, and not as a change to income in the current period.

    #1623323
    Lisa17
    Participant

    I've been scoring 50's and 60's on most of the modules. I feel like i understand the content as i go through the chapters but get stumped on the MCQs. I am progressing though…parts of F2 was a challenge for me but just keep at it.

    #1623446
    JMG
    Participant

    @msquared17 I'm right there with you! Been studying since July too and I'm currently finishing up F5, it's been brutal. My method is to try to do lecture-skills-mcqs-notes in one sitting before moving on to the next. It is quite a frustrating jump from lecture to mcqs I have to say.

    I previously worked in construction so I'll use that as an analogy:
    Lecture videos = teach you how to hammer a nail into wood
    MCQs = now build a house

    #1623821
    beautifulben
    Participant

    Good Afternoon,

    I'm hoping to schedule my exam for the second week in October, still waiting on my NTS from Kentucky.

    I've been studying since I received my failing score on August 17. I am using Ninja.

    Good luck to everyone this testing window!

Viewing 15 replies - 31 through 45 (of 970 total)
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