FAR Study Group Q1 2015

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  • November 20, 2014 at 10:47 pm #654142
    23K
    Participant

    Retaking FAR – JAN 11th

    Any suggestions ? This will be my fourth time.

    AUD--52,68,83, expired. Retake = 74 RETAKE - 7.24.26
    FAR--73,70,68,75
    BEC-- 79
    REG-- 68,62,75

    November 21, 2014 at 4:38 am #654143
    plotikkk85
    Member

    hey! no idea…I got becker, watching lectures, writing flash cards, and etc. Failing homework badly!!!!! makes we wanna quit

    November 21, 2014 at 2:22 pm #654144
    SkilletCPA
    Participant

    I too failed FAR and will be retaking the beast January 17.

    @23K, I noticed your first try was real close and then it seems your scores went the wrong direction on your retakes. What, if anything, did you do different preparing for the retakes?

    I wish you good luck on this next retake!!

    BEC Pass
    AUD Pass
    REG Pass
    FAR Pass

    November 21, 2014 at 3:00 pm #654145
    CPA50
    Participant

    Retake #3 in January. Please, I just want to pass. 75 or above, I'll take it!

    AUD - 80
    BEC - 77
    FAR - 80
    REG - 80
    3 years

    + 16 tests

    + 2 expired sections

    = DONE FOREVER!

    AUD 88 (expired), 80 retake
    FAR 64,69,67,73,67,73,73,73, August 3
    REG 75 (expired) September 7
    BEC 72, 77

    The adventure continues...

    November 21, 2014 at 3:30 pm #654147
    Anonymous
    Inactive

    I am taking FAR on January 18, 2015 and can take all the help I can get. I bought the NINJA MCQ and the NINJA FAR book so I think I have a good chance this time. I would be interested in an online study group also. Good luck and productive studying to all.

    November 21, 2014 at 3:59 pm #654149
    23K
    Participant

    @SkilletCPA

    not much different.

    I think – a little luck has a lot to do with it.

    Also – I really need to focus more on my weak areas

    AUD--52,68,83, expired. Retake = 74 RETAKE - 7.24.26
    FAR--73,70,68,75
    BEC-- 79
    REG-- 68,62,75

    November 21, 2014 at 4:04 pm #654150
    Anonymous
    Inactive

    I will check that out financelady. I am also in EST in the Boston area. I do like the NINJA MCQ test bank, the questions and the tracking are really helpful. Start getting at it tonight with the questions. Have a great weekend.

    November 21, 2014 at 4:09 pm #654151
    LIZZ
    Participant

    @ 23K

    I have had to take audit 2x thus fare and I got a 74 the last attempt. I used Becker to study but I really love NINJA. I have only done mixed MCQ's and I do 5 SIMS a day. I really like the adaptive learning of the NINJA review. When I am really lost on a topic I go back to my notes and do all the MCQ's I can find on the single topic but I limit myself to 1 hour for that type of review.

    I hope that study plan will be the difference between 74 and 75! I take AUD again 11/30.

    good luck!

    FAR - 05/2015
    AUD - 75,11/2014
    REG - 07/2015
    BEC - 09/2015

    November 22, 2014 at 2:41 am #654153
    plotikkk85
    Member

    Hi All! Not sure where to post this one:

    but Fogg Co., a U.S. company, contracted to purchase foreign goods. Payment in foreign currency was due one month after the goods were received at Fogg's warehouse. Between the receipt of goods and the time of payment, the exchange rates changed in Fogg's favor. The resulting gain should be included in Fogg's financial statements as a(an):

    a. Separate component of other comprehensive income.

    b. Component of income from continuing operations.

    c. Extraordinary item.

    d. Deferred credit.

    Becker says that the right answer is A. However, I think A and B can be correct. Any ideas? why A and not B?

    Thank you

    November 25, 2014 at 12:05 am #654154
    Anonymous
    Inactive

    @plotikkk85

    I think that the A. is the right choice because the “foreign currency translation adjustment” is one of the elements of the OCI.

    Why not B? – Because currency trading is not the primary business activity for Fogg and there is no guaranty that the gain in foreign translation is going to continue in the next reporting period.

    Any other ideas?

    plotikkk85, when is your exam? I am taking FAR end of Febr.

    November 25, 2014 at 1:14 am #654155
    fuyuki
    Member

    Taking the exam in Early Jan 2015 ^.^

    November 25, 2014 at 1:21 am #654156
    Shubh06
    Member

    Just got my audit score and passes with 84. Now taking FAR in Feb 2015

    REG 78
    BEC 75
    AUD 84
    FAR 82

    November 25, 2014 at 4:41 am #654157
    plotikkk85
    Member

    @CPAbefore40….thank you.

    Simple and silly.

    I am thinking to take Far in Late Jan, early Feb.

    November 30, 2014 at 10:03 am #654159
    Future Ninja
    Participant

    To those who took FAR recently:

    what is your answer to this question?

    On January 1, 2014, Gearty Company issued 10 year bond with a par value of $1,500,000 and an annual fixed coupon rate of 8% which is consistent with market rates for bonds with similar characteristics. Gearty company uses LIBOR as its observable (benchmark) interest rate. At the inception of the bond, LIBOR is 5%. At the end of the fiscal year the LIBOR decreased to 4.75%.

    The FV of the bond is $1,538,110 with an interest rate of 7.6%. Gearty company assumes a flat yield curve, that all changes in interest's rates result from a parallel shift in the yield curve and that the changes in LIBOR are the only relevant changes in market conditions. The bond's internal rate of return at the start of the period is 8%.

    What is the gain or loss should the company disclose in OCI?

    AUD - 79 (expired) retaking July 28,2016
    FAR - 76 expiring July 31, 2016
    BEC - 85
    REG - 74,74,74,74,59,70,

    November 30, 2014 at 2:51 pm #654160
    Anonymous
    Inactive

    @Future, the answer is ‘pretest.'

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