FAR Study Group Q1 2015 - Page 34

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  • January 21, 2015 at 4:15 am #654650
    Future Ninja
    Participant

    @NAT@2014 I had my second stab at FAR and I would say practice doing entries in MCQs even though they are not required. Majority of the SIMS require JE's from my experience. What review course are you using? NINJA FAR BOOK is very good in entries. Thanks to Jeff. It includes explanation and then application of the concept plus necessary entries. Do not take this lightly unless you wanna take it again. ^_^ Best of luck. I'll be cheering on you on score release day.

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

    January 21, 2015 at 4:16 am #654651
    Future Ninja
    Participant

    @Determined CPA I'll be cheering on your score release day.

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

    January 21, 2015 at 11:48 am #654652
    CPA – Hopeful
    Participant

    Is there a way that NINJA MCQ's can change the order of the answers? Just so a person doesn't feel like they have memorized things. If the answers were in a different order it would make a person have to stop and think not just….Oh Yeah that is the right answer. If anyone knows how to do this that would be wonderful!!

    January 21, 2015 at 2:06 pm #654653
    Determined CPA
    Participant

    Future Ninja – that means a lot! thank you so much! And ill be doing the same for you!!

    CPA – Hopeful – Im not sure if that's possible but even if you get an answer correct, read the explanation and that will really ensure you understand your answer.

    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.

    January 22, 2015 at 12:33 am #654654
    rossk
    Member

    Hi, are the bond issue costs included in total proceeds when we are calculating the interest expense for bond amortization?

    question in Becker includes Cash 825500 + 50000 BIC = 875500 * 0.015 = 13367 (interest expense) is this correct? Can someone please explain. We report BIC separately then why are we including it in interest expense calculation?

    January 22, 2015 at 4:08 am #654655
    excel monkey
    Participant

    @rossk

    Could you post the question from Becker, it might help understand/explain where the answer is coming from?

    Under IFRS, BICs are deducted from the cash proceeds/bond liability and then amortized using the effective interest method, no separate asset is recorded. IFRS does not allow the straight line method to amortize BICs.

    GAAP requires a separate asset and amortization, usually straight line, over the life of the related debt.

    FAR - 91
    AUD - 88
    BEC - 86
    REG - 79

    January 22, 2015 at 7:41 am #654656
    imgonnabacpa
    Member

    Hi All,

    Has anyone of you used Becker Flashcards to prepare for FAR? I am moving at snail pace in covering the cards.. Have been able to cover only 60% in the last 2 months. I have my exam next week… Any tips on using the flashcards? Do you study them taking time out or only in our free time ?

    Thanks.

    BEC - 78
    AUD - 69,72,78
    FAR - 73, 77
    REG - 74, 74, April 20(Monday). Not anymore (Fingers Crossed xxxxx)

    January 22, 2015 at 1:47 pm #654657
    shanek327
    Participant

    Hi All,

    this is my first post, I'm new to this grueling study experience. The only reason I say grueling is because of the significant struggles I;m having with FAR material. I'm using Becker self-study. By the end of lectures I feel good about it, then I get killed on the homework.

    Anybody with experience venture to say that the homework for becker is actually more challenging than the exam?

    FAR - 75
    AUD - 78
    BEC - 82
    REG - 77

    2 Corinthians 5:21

    Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

    January 22, 2015 at 2:41 pm #654658
    Anonymous
    Inactive

    @shanek327, It's been my experience that the Becker homework is much more challenging than the exam. If I was to guess I would say at least two thirds of the Becker questions would be considered ‘harder' by AICPA standards. It's always been the SIMS that catch me off guard. I think a lot has to do with the fact that my brain is pretty fried by the time I get to them and they can through a bunch of information at you at one time. Crossing my fingers that I don't have to deal with this animal (FAR) ever again! Good luck!

    January 22, 2015 at 3:44 pm #654659
    Determined CPA
    Participant

    Just pushed my test back a week – now testing Feb 7! MCQ's till I drop from now till then!!

    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.

    January 22, 2015 at 7:31 pm #654660
    s2sylvir
    Member

    Hi guys, FAR is my next section… I was thinking of just doing the Ninja 10 Point Combo…. Is that something that is even possible? Assuming I put in the time and dedication…

    Thank you!

    BEC - PASS (79)
    AUD - PASS (63, 71, 74, 74, 83)
    REG - PASS (88)
    FAR - PASS (58, 89)

    Becker for all + FAR 10 Point Combo

    January 23, 2015 at 3:32 pm #654661
    Anonymous
    Inactive

    @s2sylvir, I have heard of people only using the 10 Point Combo for FAR and passing but I don't have any personal experience with it. I know the MCQ's are just as comprehensive as Becker's.

    January 23, 2015 at 3:40 pm #654662
    s2sylvir
    Member

    @CTM

    Thank you!

    I have actually since bought the 10 point combo — I am reading the book and love it. I don't think I ever got used to Becker's textbook style.

    BEC - PASS (79)
    AUD - PASS (63, 71, 74, 74, 83)
    REG - PASS (88)
    FAR - PASS (58, 89)

    Becker for all + FAR 10 Point Combo

    January 23, 2015 at 3:54 pm #654663
    Anonymous
    Inactive

    That's great! I am working on AUD now, waiting on FAR score, and the Becker material is the most boring stuff I have ever read! I work in audit so I have a slight advantage but these lectures are worse than watching paint dry. Good luck with FAR. I'll be sticking around this board until I see a passing score which, considering past experience, I do not feel good about despite my preparation this go-around.

    January 23, 2015 at 5:59 pm #654664
    s2sylvir
    Member

    @CTM

    Oooh good luck!

    Yeah, Becker is very boring, especially the lectures. That's why I love the fact that ninja's book is so easy to read. Whereas Becker if you don't watch the slides you can't really read through the textbook with ease.

    BEC - PASS (79)
    AUD - PASS (63, 71, 74, 74, 83)
    REG - PASS (88)
    FAR - PASS (58, 89)

    Becker for all + FAR 10 Point Combo

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