[jeff]

Welcome to the Q1 2016 CPA Exam Study Group for FAR.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

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

[Anonymous]

@MaLoTu, when are you taking the exam?

[Anonymous]

Hey @Agus, I really do not know. I searched on that chapter before bc I read somewhere that there was an update in that area but could not found it.

[Anonymous]

@ Cortes, I found it. I search for going concern and it is Chapter VII of the Section 3 but have no clue what have changed on Governmental Accounting so I will read that chapter again

[Anonymous]

I got to study for going concern before the exam bc there was the new chapter in Ninja but could never found the new stuff on government.

Had to edit 🙂

[nib]

hello,

which topic covers “going concern” in updated 2016 ninja audio …
Also has ninja govt audio updated ??

[Anonymous]

@ Cortes the new Chapter on going concern sounds a lot like what we studied for AUD. Did the sims have a lot of J/E? I am trying to find more info on asset retirement and accretion rate
REG:77
BEC:73/74/81
AUD:58/76
FAR:74/Feb 2nd

[Anonymous]

@Agus I thought the same thing when I read the new chapter. Main things for going concern I think are the disclosures when there is substantial dout and knowing that substantial doubt is not the same thing as liquidation. When there is substantial doubt sometimes management has a plan and sometimes they do not and for FAR we need to only know the disclousures and what kind of things can aliviate the substantial doubt. As for J/E is good to practice them I think when your are doing MCQs bc you can expect anything from Sims. I had a lot of them.

@bin really do not know if Jeff discusses going concern on the audio. By the time the updates got out I had stoped listening to it.

[JSM]

@bin Thank you very much! That was helpful

Has anyone ever had bonds heavily tested on their FAR exams? That is by far my weakest topic, and I am not sure how much time I should spent on it when I only have a week left!

FAR - 1/17 [67]
AUD - 76 (Feb, 2015)
REG - 78 [70, 74] (July, 2015)
BEC - 80 (May, 2015)

[MaLoTu]

@Agus – I am taking the exam on 1/15 … I am fully cramming at this point! I have an 8 year old and a 10 year old (both boys) and with them out of school for the holiday I was barely able to do any studying. Admittedly, I was happy being distracted.

I am on my 4th day of doing a chapter of the Becker book per day. I will have the 14th to review and the morning on the 15th if I stay on track. It is literally the best I can do with the time I have, my NTS expires after 1/15.

[KJ]

@ cortes I am starting to study for FAR, I have 2015 CPAexcel exam review study guide and will use Ninja notes/mcq/audio. Do you think this will be sufficient? Plan to take the exam in May.

FAR - August 2016
AUD - September 2016
REG - October 2016
BEC - November 2016

Remember: "Everything should be made as simple as possible, but not simpler." - Albert Einstein

[Anonymous]

@kanwal78 I think CPAexcel (Wiley) is enough in fact I switched to NINJA bc I felt it was too much and felt overwhelmed by the amount of material they had. But if you like their lectures then you should be fine. The ninja products are great specially the mcqs so make sure to hit them hard and hit the review phase at the end before the exam.

I stuied for 2 months and forgot stuff in the process so four months of study is a bit much for me as I know I would start forgetting stuff with the amount of material there is in FAR but if you have a good game plan in place so that you would not forget stuff after then you are good to go. FAR does not have an extreme complicated topic it just have a great amount of material so a good sharp memory is a must in this test.

[Anonymous]

Hello there.

I am a long time reader and the first time poster. Hopefully I posted the question in the right forum. Reviewing material for FAR ( exam in a week) and have a silly question on Segment reporting:
Are segments disclosed in the notes only and not directly on financial statements? Because from what I read, intergsegment transactions don't get eliminated when doing segment reporting.
And how does it work with consolidated statements? Do we report segments in the notes only and then produce official consolidated statements with elimination of intersegment balances and all of that good stuff?

Thank you

[pyacpa49]

Hey all, I went to the AICPA website and took the practice test on there for a little more review. In the simulations they had one of the new document review questions that they will start putting on the tests sometime in mid-2016 according to the website. Has anyone seen these and, if so, what were your impressions? I have two weeks until my test, so I doubt these will be tested already, but in case they are I wanted to get some experience with answering them. Seemed to me to be a lot of time consuming work which for a test like this isn't a good thing. Thoughts?

[marqzho]

pyacpa49

From what I understand, document review questions won't be released until July 2016. In case you see one in your exam two weeks later, I bet this will be a pretest question. For a question like this, you probably need to spend more time on reading the content given and pay more attention to the detail in it. Let say instead of telling you directly what is the profit sharing ratio in a partnership, they may give you a simple partnership agreement. They may give you a letter, memo from CFO or whoever asking you to prepare J/E for the transaction. It can be a bank statement or any documents you'll see in a “real” CPA daily life. And you could expect there are whole bunch of non-sense / irrelevant stuffs in the document trying to distract you and make you come back again next exam window LOL.

REG 90
FAR 95
AUD 98
BEC 84

[MaLoTu]

I am really struggling with bonds and leases … can i pass without mastering them?

[Author]

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