[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

[Xia]

This is a tricky question. Because the cumulative effect is reported in B/S rather than I/S.

[Xia]

The cumulative effect is reported in B/S rather than I/S. This is a tricky question.

[Wannafree]

RE of the earliest period is the place for cumulative effect.

[Anonymous]

Anyone else having an issue with Becker marking questions in SIMS incorrect despite them being correct? I am doing chapter 1 sims and it said I had 30%. I was astonished that I did that poorly (thinking that I would be near 70%). I went back and it marked a lot of questions wrong, despite putting in the correct answer. Before you ask – yes I am sure. At first I thought it was just the number calcs and maybe I put a 0 when they wanted it blank or vice versa. Then I realized it marked drop down questions wrong that are actually right.

Anyone else see this?

[Jen-J]

CPA the third – I had that problem today with a SIM in the AUD module (A3, Sim 2, problem 7 I think it waz, Column B). I changed every answer to be complete and in the correct order per the solution and I still have a yellow column. It's annoying…

[Anonymous]

@Jen – I agree! I feel like I'm spending half my time trying to figure out if it's wrong or if it's right and marked wrong.

[gguzman]

I am so lost with pensions the only way I think I jay be able to get it at this point is re-watching the lecture and re-reading the book, I would rather spend the little time I have going over Stockholders equity, cash flows and Government and NFP. =I at least understand these subjects and it would actually be review instead relearning it.

Not really sure what is going on with pensions the material is not sticking, maybe if I have time and I finished reviewing the rest I could go over it again.

thoughts? My exam is on Tuesday, I have work tomorrow.

[Jen-J]

GGuzman – I reread the pensions section during my review stage, because it was also causing me issues. If you have maybe a half hour to reread it, I would (even if you have to do it during your lunch tomorrow). I made sure I understood SIR AGE for expenses (even wrote all the formulas down again on a clean sheet) and tried to remember how the asset and liability balances change. I found reading the journal entries to be the most helpful, because I can always work backwards from the entries.

Good luck on Tuesday!

[IwannabeaCPA2017]

I'm currently working on some Ninja SIMS and #13 seems a bit weird.. the way how they calculated depreciation. Can someone explain it to me since it is a SIM hard to paste on here

[msquared17]

CPA the third – I had the same issue with an F1 sim. You're not alone.

[gguzman]

@ Jen J, thank you I am going to need it. Very well, I try to look at flash cards during lunch and will put an emphasis on pensions for sure.

Lets see how much more I can do before I pass out.

[Anonymous]

Gguzman, I feel the same way about pensions. I have tried and tried to make it through the Becker lecture, and it just isn't taking. I'm going to go back to my textbook. Good luck!

[IwannabeaCPA2017]

man these sims are being marked wrong for no reason! I agree with the issue not only with becker, ninja is doing that too. The order has to be right in order for them to mark it. I got the wrong order but right numbers and I'm getting 30-40%

[spiritmate]

hi guys, i'm having trouble with deferred inflows vs unearned revenue. in the question below:

Progressive Township Community College received $900,000 multi year research grant available for use on a pro-rata basis over the next three years subject to other enrollment based eligibility requirements. At the end of year 1 of the grant, the college had achieved enrollment levels that satisfied grant eligibility requirements below equal to $500,000. As a result of this transaction, the community college would recognize:
answer is 300 earned rev, 200 deferred inflow, 400 unearned rev.

i thought deferred inflow would be 0 and unearned rev would be 600.

would it be correct to assume, deferred inflows are revenues that will be earned in future FOR SURE while unearned revenues may or may not be earned in future?

thanks for any help

[IwannabeaCPA2017]

Hi guys, can someone confirm whether this is right or not. So ninja is saying to compute diluted EPS we should do NI – Pref. Div for numerator but I thought we don't take the pref. div into account since it is being added back

[Author]

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