[jeff]

Welcome to the Q4 2017 CPA Exam Study Group for FAR. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your FAR exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

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

[Wannafree]

@ReckedRacing , are you following the Blueprint Analysis topics for SIM prep? If not have a look.

[Recked]

I have the blueprints printed out with all the analysis topics highlighted.
I have also reviewed the Blueprint thread numerous times.
Unfortunately I don't have Becker. I have Roger and Gleim test bank.
I am currently practicing some SIMS in Gleim.

The Roger sims were pretty heavy on the multiple tabs and massive amounts of information, but the tasks seem a little too easy perhaps.
I am working on Gleim SIMS now, but they are a little lacking on the multiple tabs and loads of information approach, but it is helpful to see the tasks from a different angle.
Some of the Gleim SIMS are almost fun, like figuring out a puzzle similar to sudoku. I feel that most of these SIMS will not be representative of the SIMS on the “new” CPA exam.
We shall see soon.

[kara]

@wannafree

I know its not in the blueprints that why I didnt study it but there was a whole sim on it…. lol

[Wannafree]

@Kara , I am not surprised ,in past ( 3 attempts ) I have always got 2 SIMs which I don't see in Blue Print.But hey even 6 SIMs is not bad for me as earlier every SIM was like flip of coin ,now it's just 2.God bless Lentil and Ana.Even that 2 SIMs which test our nerve I can make my own list and who knows one may fall on my lap .In previous post I have given a hypothetical scenario of Elan Musk Rocket co ,that sounds weird but luck is not my side for three attempts hence I am not expecting all easy SIMs. I know very well where they love to hit us which nobody study .e.g Disclosures,JE ,CHapter 6 of Becker's and IFRS.LOL.I am asking the question to myself okay which topic or SIM they can give and must be rolling on floor to see my reaction from camera of Prometric ? And this putting myself on their shoes gives me lot of weird SIMs.LOL

[gguzman]

@lentilcounter Thank you for your concern. Wannafree cleared it up really well. By the way I favorited that blueprint, I have 3 weeks and will fit in those sims for practice. Thanks!

@ wannafree, Thanks for clearing that up looks like I was overthinking it and trying to figure out something I don't even have to figure out.

Just to make sure I completely follow, I was hung up on the wording? total estimated costs were given in 00689, whereas in 00683 we had to calculate total estimated costs ourselves?. Keyword for 00689 is total estimated costs…. over the period of construction vs. 00683 table given to calculate?

[Wannafree]

@gguzman , you got it.Most likely “total cost” will be given in the beginning before the “cost till date ” (90% chance) ,pay attention to language .It may say “remaining ” “to complete the cost ” etc.Idea is to get the total cost.Just observe some questions and you will figure out .There will be enough indication whether estimated cost is remaining cost to complete or it is total estimated cost.
Let me know if you have any confusion on percent completion.You rightly said so you are over thinking this key word.

[Lauren G]

Hello everyone,

I am taking FAR on Friday November 17th. This is my first test I will be taking. I am wondering has anyone taken the November far section and what I should be reviewing and really focusing my attention on. I have made it through all my material I am now reviewing all of my lecture notes to remember certain formulas and tricks. I am using Surgent review course.

Thank you,

[gguzman]

@ Lauren G, After failing REG I learned that these final few weeks are essential. For my final 3 weeks of review I am doing progress tests that consist of 5 questions per module topic, sometimes 10; I try to make it at least 40 MCQ's. I am then looking at how well I did in each module, If I get les than a 75% I am doing every single multiple choice for that module and taking notes on why I got the answer wrong. I am also trying to get in at least 1 or 2 tbs's per night. I am doing this while also doing the Becker Final Review, which also has TBS's included in the lecture.

Keep in mind I have never passed and probably have no idea what I am talking about, but I feel like I ma learning and progressing everyday so far.

Good Luck!

[Ana]

@guzman that's a really good plan! Keep at it.

[Anonymous]

Anyone have any tips for remembering what makes a Deferred Tax Asset vs a DTL? I tried to use:
Book Income > Tax Income = DTA
Book Income < Tax Income = DTL

This did not consistently work on MCQs…if you disagree with this assessment, let me know and I will review!

[Ana]

@cpa3rd that should work (I found that in Becker as well) however I had application issues too. Though it was an user issue once I would read the reason for the correct answer. It's so weird that I had no problems with it in the past but couldn't grasp it this last time. My husband told me to think about it this way: if you're paying more taxes now, then you'll have an asset for it to use later. and vice versa. Maybe that helps a bit. Did the indirect cash flow method work out for you?

[Sturg]

ReckedRacing, you're in great shape getting 81% on 66 MC in that time period. I can't seem to to break 80%, and it's usually the dumb theory questions that throw me off (my exam is 11/15). I know it's never that smooth when you go live, but keep that confidence going into your exam tomorrow and you'll slay it. Goodluck

[Wannafree]

All the best @ReckedRacing ,I hope you do well and pass your first exam.

[Wannafree]

@GGuzman ,for REG ,get your concepts cleared for basis.Any thing you do ( except for Individual ) think what would be Basis ? If you have understood basis calculations you would pass REG without any issue.If you want 2 mcq marks as bonus , go through AMT .It is considered difficult to memorize the list but still try to solve 4-5 AMT questions , you will surely solve MCQ on AMT.
Legal side ,If you have Ninja MCQ ,it's good enough.Keep in mind basis for REG.

[Tncincy]

So,I'm catching up on the group conversation, yes I should be studying but hey, so what's the point of the blue prints and where can I get them. Will it make a difference in studying. Is the idea to still study everything or perhaps target topic study?

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Author]

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