FAR Study Group Q1 2016 - Page 32

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  • January 20, 2016 at 8:28 pm #746396
    pyacpa49
    Participant

    It was an educated guess for me. don't remember seeing this question before in my studies.

    January 20, 2016 at 8:42 pm #746397
    Anonymous
    Inactive

    @pyacpa49, when are you taking the exam?
    REG:77
    BEC:73/74/81
    AUD:58/76
    FAR:74/ Feb 2nd

    January 20, 2016 at 9:38 pm #746398
    pyacpa49
    Participant

    I take it tomorrow!

    January 20, 2016 at 10:22 pm #746399
    bigbuk
    Member

    @pyacpa49 fill us in after! good luck

    January 20, 2016 at 10:47 pm #746400
    pyacpa49
    Participant

    @bigbuk, will do. Thank you. Definitely going out for a drink after, so might not be on later tomorrow..

    January 20, 2016 at 10:56 pm #746401
    Anonymous
    Inactive

    @pyacpa49, good luck!!!!

    January 21, 2016 at 1:09 am #746402
    Me!
    Participant

    I took FAR yesterday and had at least one question that was the same as a Ninja question, and a few that were close to Ninja.

    January 21, 2016 at 2:40 am #746403
    pyacpa49
    Participant

    @Aguspesci78, thank you. Hoping for the best!

    January 21, 2016 at 7:45 pm #746404
    qfolmar
    Participant

    I took my retake for FAR today and this exam was much more bearable than the last one. I received two sims that were left field, two for journal entries…but all in all, I completed the exam and I'm hopeful and prayerful that I did enough.

    Ensure you know Not-For-Profit, Governmental, IFRS, and Leases.

    How did you fare with FAR today, @pyacpa49?

    FAR-79
    REG-82
    AUD-83
    BEC- August 31st

    January 22, 2016 at 12:12 am #746405
    pyacpa49
    Participant

    @qfolmar, hope you did well, praying for us both to pass. This was my first ever try for any, so i had some nerves.Overall it wasn't as bad as I built it up to be, but there were definitely a few things I had no clue for.

    Had one sim asking for journal entries, but the question did not really do a good job telling exactly what I needed to make the entry for, just hoping I stole a few points there.

    For sure know gov't, NFP, IFRS. I only had maybe 2 lease questions, both M.C. but a friend I took it with had quite a few. I really underestimated the number of Gov't and NFP questions. Had 2 sims for those which I did not want to see.

    Now just wait and see I guess..

    January 22, 2016 at 12:26 am #746406
    Anonymous
    Inactive

    @pyacpa49, I hope you pass. I am extremely nervous already because I must and have to pass or I will lose REG!!! I was strong on Non For profit last time and weak on governmental acct! I am going over chapter 8-9 right now! Praying for all of us!!
    REG:77
    BEC:73/74/81
    AUD:58/76
    FAR:74/ Feb 2nd

    January 22, 2016 at 1:21 am #746407
    pyacpa49
    Participant

    @Aguspesci78 I bet you'll kill it. Most of my questions had to do with the different funds for governmental, like what transactions affect what funds. That's just a matter of memorization really. I think I convinced myself I knew it, but I really just remembered the answers in my studying. I'll be rooting for you!

    January 22, 2016 at 5:07 pm #746408
    bigbuk
    Member

    guys that just took it, i take it in a week. Much NCI questions? Also they did away with Extraordinary gains/losses?

    January 22, 2016 at 5:39 pm #746409
    Anonymous
    Inactive

    @bigbuk, extraordinary gains/ losses do no exist anymore under GAAP

    January 22, 2016 at 6:31 pm #746410
    bigbuk
    Member

    thanks, how do they account for unusual / infrequent transactions? Continuing Ops?

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