[jeff]

Post by Another71.

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Gian]

@salring thank you. how's your review so far? I'm re-writing my notes, putting them together, ninja audio and notes every now and then. hopefully by tomorrow, i start non stop ninja mcq and simulation. this is my second stab to FAR.

AUD - 69, 80
FAR - 71, rematch 01/19/2015
BEC - 01/12/15
REG - 02/23/15

If life knocks you down, try to land on your back, cause if you can look up, You can get up! No matter how bad it is or how bad it gets, I'M GOING TO MAKE IT.

[salring]

This is my second stab at FAR too, I got 74 last month. I am hitting MCQ's using GLEIM, I intend to buy Ninja for SIMS since most of the stuff I studied is still Fresh. Still struggling with Common stock and IFRS. I intend to take the exam in early Feb since am taking Audit on 01/05/15. There's too much stuff to re-read but am doing more targeted reading on areas I didn't spend as much time on. I don't normally take notes am just not good at that. Good luck to us.

[Future Ninja]

@salring – goodluck to us! for IFRS, try the ninja book. it has separate chapter dedicated for ifrs only with applications plus it's 20 pages only.

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

[salring]

Thanks @Future Ninja, I will get the book. That will be helpful and good luck!! How are your studies?

[Future Ninja]

5am, rise and grind. we have FAR to kill and bury next month. ^_^

@salring – im done re-writing my notes. scheduled to knock out some ninja mcq starting tomorrow. 8 hours for BEC – operations management today.

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

[Anonymous]

I am thinking on buying FAR Ninja MCQS, what you guys think? I had it for BEC but I dint had time to use it.

[Pumpkins]

Hi Salring. I'm using Gleim too. How were you scoring before you took the first exam and how much of the material did you cover?

It's taking me a long time to get through the questions.

AUD- 93
BEC- 81
FAR- 1/26/2015
REG- TBD

CIA Exams Passed in March, 2014

[SkilletCPA]

Lyle, Inc., is preparing its financial statements for the year ending December 31, 20X1. Accounts payable amounted to $360,000 before any necessary year-end adjustment related to the following:

On December 31, 20X1, Lyle has a $50,000 debit balance in its accounts payable to Ross, a supplier, resulting from a $50,000 advance payment for goods to be manufactured to Lyle's specifications.

Checks in the amount of $100,000 were written to vendors and recorded on December 29, 20X1. The checks were mailed on January 5, 20X2.

What amount should Lyle report as accounts payable in its December 31, 20X1, balance sheet?

A.$510,000

B.$410,000

C.$310,000

D.$210,000

BEC Pass
AUD Pass
REG Pass
FAR Pass

[salring]

@Pumpkins I was scoring in the 60's for almost all of the tests. There are modules that I didn't bother to study even though they are critical. I left out Common stock, IFRS and business combinations which clearly cost me points. Gleim is fantastic I think if you cover everything you will feel over prepared for the exam since most of the questions are harder than the real exam. I would say keep with it especially the MCQ's I didn't use the Simulation module and plan to get Ninja for sims coz it's cheaper than the Gleim Sims module.

[Anonymous]

@Skillet. Answer is A. 510,000.

360,000+50,000+100,000.

Add the 50k that should be reported as a prepaid, not a debit to AP. Also, Add, the 100k to reverse the decrease in AP that resulted from recording the checks incorrectly recorded in AP that were mailed the following year. That make sense?

[SkilletCPA]

@CTM

Yes that does make sense, thank you! My confusion with this question are the checks written in December year 1 and mailed in year 2. Should i assume that once the checks are sent that is when AP is affected (not when written)?

BEC Pass
AUD Pass
REG Pass
FAR Pass

[Anonymous]

Skillet, that is correct.

[Determined CPA]

Today starts my studying for my retake!! VOMIT!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[lasdlnx]

@determined CPA,

Sorry to here that! You are almost there.

This will make you feel better, I studied 200 hour for FAR. Just got my score back today,,59! I sucked at everything except Not-for-Profit.

I need restudy far as if I never heard it before.

JR

FAR-59 🙁 retake late January '14

[Determined CPA]

That is awful! Let's all work together and destroy this beast in q1!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Author]

Replies