FAR Study Group Q1 2016 - Page 25

Viewing 15 replies - 361 through 375 (of 835 total)
  • Author
    Replies
  • #746291
    MaLoTu
    Participant

    My method is not ideal. I think I at least have a shot to pass. I know a lot, but because there is so much information, I don't know a lot also. It is going to boil down to luck, which I am certain of in all test. Studying and preparation just increases the chances that you will be lucky of the test!

    I will definitely let you know how it goes … until then I will be muddling around here, haha.

    #746292
    Anonymous
    Inactive

    *Like 10-12 on previous post…

    I know, luck has to do a lot with these exams. I was a point off last time from passing so I am hoping to get what I need this time around. What you have said is right, there is a lot of information and it is impossible to know everything. Make sure to look at chapter 10!
    REG:77
    BEC:73/74/81
    AUD: 58/76
    FAR: 74

    #746293
    MaLoTu
    Participant

    My plan for today is to go finish F9 questions. I am just about done with that. I am going to go straight to F10 questions. If I need the lecture I will go back, but I think I am going to just take brief notes.

    If you had to suggest what topics are most important in F10, what would you suggest?

    #746294
    Anonymous
    Inactive

    I will take a look at Asset Retirement Obligations(Accretion rate), VIEs, trouble debt restructuring…I know this chapter is a mixed of things but accrued liabilities you kind of cover it on other chapters. Contingencies is familiar to me because I took AUD but you may want to look at that…

    #746295
    Anonymous
    Inactive

    A company using the composite depreciation method for its fleet of trucks, cars, and campers retired one of its trucks and received cash from a salvage company. The net carrying amount of these composite asset accounts would be decreased by the:

    A.
    cash proceeds received and original cost of the truck.

    B.
    cash proceeds received.

    C.
    original cost of the truck less the cash proceeds.

    D.
    original cost of the truck.

    I have not seen that many MCQ about this depreciation method. I thought I would share it

    #746296
    MaLoTu
    Participant

    I didn't see that in Becker … is it D?

    #746297
    marqzho
    Participant

    B

    REG 90
    FAR 95
    AUD 98
    BEC 84

    #746298
    Anonymous
    Inactive

    It is B

    #746299
    MaLoTu
    Participant

    that makes sense … because it is essentially a pool.

    #746300
    Anonymous
    Inactive

    @ MaLoTu, do you have Ninja software? Look at SIM # 8. It has some tricky things about leases

    #746301
    MaLoTu
    Participant

    No, I only have Becker … Are the sims different between the 2? I hear people say that a lot of the MC questions are the same.

    #746302
    Anonymous
    Inactive

    some of the MCQs are but not the SIMS

    #746303
    Anonymous
    Inactive

    Hey guys how is everybody's studying going? Wanted to add that with the composite depreceation method the net carrying amount of the assets are reduced by the cash received bc there is no gain or loss recognition on the transaction. So if you see a mcq asking about the gain or loss on the composite account in a sale (retirement) of an asset know that there is none.

    @MaLoTu good luck on the exam! Saw somewhere that you are taking it soon.

    #746304
    JSM
    Member

    @MaLoTu In response to your post back to me many posts ago, I completely agree!! My REG exams were night and day as well. To answer your question, my exam is this Sunday and I really do not know which way it will go.. it is a toss up.

    I am going to do both of Becker's final exams tomorrow and Friday and see what needs review! To join in on the convo above, definitely study VIE's in Becker chapter 10. It isn't much info, but you would be surprised how many questions I got on it the first time I took far.. It's amazing what they pull out to test you on haha

    Good luck all, I check here when I can!

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

    #746305
    JSM
    Member

    also- does anyone recommend taking an AICPA practice exam? I didn't use that as a resource for the other 3 sections.. but I could use all the help I can get on FAR. does it explain the answers you get wrong?

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

Viewing 15 replies - 361 through 375 (of 835 total)
  • The topic ‘FAR Study Group Q1 2016 - Page 25’ is closed to new replies.