[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

[RashmiRaghu]

@MaLoTu, Thank you. Becker did not mention about whether they have to offer 2 or more than 2, although I knew why they don't sum up the discounts but apply it one after the other. It was more for just my understanding. Sure will not sweat much on it. Thanks again 🙂

From exam point of view would you like to give me a few topics which needs focus mostly? that I need to master? Have resumed studies after 10 long years and really need some help in putting together a strategy.

[Anonymous]

@Aguspesci78 do you have a study plan for your FAR retake? I do not…

I have reset my Ninja MCQs and started going back through the Blitz vids while they are still open for all. I think you have Beckers – cover the progress tests again? I definitely plan to retake the Practice Exams.

[Kemi22]

Track55: How is it even possible to go from 74 to 99? lol !

2010:
BEC: 74, 71, 74, 75
AUD: 71, 74, 83
REG: 71, 76
FAR: (I quit) 34, 45

2015:
BEC: 79
AUD: 78
REG: 67, 76
FAR: 56 (trial run), 74, 74, 74, 80!
Thank God. Your prayers are always answered! Do not give up. Thank you St. Joseph Cupertino.

[Anonymous]

@Agus from what I understand under modified accrual revenues are recorded net of uncollectible. Instead of debit bad debt expense and credit the allowance we would credit both the allowance and the net revenue. That is why I am confused with the MCQ :(. And the begginig allowance was deducted.

And regarding the other question I was born, raised and I am currently living in Puerto Rico. @Makiu recently posted here and he was born and raised here too, but now he is living on the states. It is curious bc he lived and was raised from about 20minutes from were I live.

@MaLoTu you are right, se puede leer como Malo Tu! lol!

[Anonymous]

And btw sorry for the 74! I am sure you will pass next time, you are going to be a CPA 🙂

[RashmiRaghu]

@cortes123, My FAR exam is on 4th Jan too. where are you taking the exam? how do u feel about your preparation so far?

[Anonymous]

@ Cortes, you are right about Governmental Fund Revenues. I think what is happening with $60,000 of Deferred Revenue is that they were recorded as a liability on the previous year (maybe), because there were expected to be collected later than a specified period- not to exceed 60 days after year end), and then we will have to recognize the $60,000 when they become available?
REG:77
BEC:73/74/81
AUD:58/76
FAR: 74, retake Jan 2016

[Anonymous]

I am taking it on Puerto Rico and so far I have read once the Ninja Book and have taken plenty of notes. I feel kind of ok, but sometimes Infeel overwhelmed by the amount of material. I have done 900 MCQ and so far I am averaging 71% and trending 80%. I plan to keep listening NINJA AUDIO and to keep pounding MCQs but reviewing all the major topics and all that the MCQ that I get wrong (I have them on google docs and I review them while at work). And on the last two weeks I will do SIMS. This is what I have done for the other two tests and it has work for me so far. So we will see!!!

[MaLoTu]

@cortes – the amount of material is definitely harder than the material itself, in most cases. However, it is very hard to go into FAR feeling confident.

[Anonymous]

@ AccidentalAccountant, I am using Becker but supplementing with NINJA MCQs, Audio and Blitz (since they are available). I know I was strong on MCQ, I did not find them difficult at all. I know I need to focus on J/E and do a lot of SIMS. The sims on Becker are a joke compare to the ones on the exam. I thought that since I did all the SIMS in Becker I was going to do just fine but one the second final exam on Becker I got 100s on all the SIMS expect for one that I got 85 but the ones on my FAR exam were nothing compared to Becker!

My study plan is to read all the chapters again, do all MCQs again and do as many SIMS as possible. Time management in this exam is the key. I was doing good on the MCQs and had time left, but checked a few MCQs and left only an hour and a half for the sims and it is not enough. In order not to rush thru the SIMS you need at least an hour and 45 mints to 2 hours in my opinion. Again, everybody is different but you have to read the instruction, understand what they are asking for and the work on them!

I thought about appealing my grade but I do not know if it will be worth doing it. I know the chances of them changing the scores is just 1% but then I thought that I do not have anything to loose

REG:77
BEC:73/74/81
AUD:58/76
FAR:74

[Anonymous]

@Aguspesci78 I forget this is your last section so you don't have to try and fit another exam into the next testing window.

I didn't practice any SIMs going in so I plan to do that even if they are easier…I forgot JEs which was not good! Audio is available too or just blitz?

[Anonymous]

@ AccidentalAccountant, just the BLITZ but I purchased the audio to listen all the time!

[Anonymous]

Hello All!
This is my first post on this site, trying to give it my all in this last part. And oh yes, I'm taking the beast! I missed it this past November by 6 points and I think I have a feeling what went wrong.

I'm using Becker and the one of areas which I think I need to apply more studying and/or more help is the journal entries. In specifically, the adjusting journal entries. Does anyone have any tips as to how to learn it, apply to memory and/or master it??

All the help is greatly appreciate it!!
Thanks!!

[Anonymous]

@Agus what I am thinking is that maybe the prior year uncolkectible was recognized the current year bc they represented current year revenues, and that the invlcrease in current uncolectible represent next year revenue that is going to be available next year. So maybe that is why we are not supposed to substract the increase in uncollectible. Not sure how we are suppose to know that.

[Larry]

@Agus…NOO!!!!! damn it. I cannot believe it was a 74. Trust me. You're going to be more determined than ever to pass FAR. I'm rooting for you.

@ CPAMADMAN, my best advice is to use T-accounts when doing journal entries. I would practice journal entries with each MCQ. It is a bit of an overkill but it helps you understand the concept and where the transaction should be posting. It helped me with 2 of my sims which I knew I did very well on. Work on your weak areas but continue to ensure that you know the whole material.

Like Peter Olinto says, who's better than us? NOBODY! Keep on trucking.

REG - 82
FAR - 78
BEC - 76
AUD - 8/27/16

[Author]

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