[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for FAR. 🙂

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

[mckan514w]

GOOD LUCK BOE!!!!

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[Kala]

This will be my 4th time to take FAR and I feel like I can't remember anything! I have done over 600 Ninja MCQ's and my trending score is 53.6% and my average score is 51% while listening to the Ninja notes on repeat. I have done pretty well on the other times I have taken FAR (52, 72, and 68) but I am not feeling very good about this time at all! I am not sure what is going on with me but I seem to pick the incorrect answer and then while waiting for the correct answer to show, I pick out the correct answer. Any tips/ideas on how to stay motivated? My test is this Friday, 03/03. Just feeling like I'm losing steam and confidence…

[GiniC]

@Kala –

We're all having problems like that – we have been discussing the post-it notes we have stuck to our computer monitors reminding us to SLOW DOWN and READ THE QUESTION CAREFULLY and (my favorite) READ READ READ THE QUESTION TWICE. Lots of us have notes about watching the dates in questions, too.

Multiple tries at the same exam ARE daunting. Just remember how much it will be worthwhile when you see that passing score! You did it with REG, you can make it through FAR!

[norseman88]

Starting chapter 9 in Becker, gov't part B. This stuff is awful! Test in a week, I sure hope this cramming over the next 7 days comes together. Ugh!

[mckan514w]

No words of wisdom for you Kala- sorry- right there in the same boat with you- all I can say is keep plugging away… Good Luck!

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[GiniC]

OK, I had a question on long term contracts – asks which of four statements are INcorrect (of course I read it wrong and tried to answer which were CORRect).

However, apparently this statement is correct and I don't see why:

“The construction-in-progress account generally has a higher balance when the percentage of completion method is used.”

Doesn't the construction-in-progress account hold the cost of labor and materials used, and wouldn't that be the same for both methods?

[Sticky Nicky]

gini,,,CIP is where you records costs AND profits,,,if you use completed contract no profit is recorded until the end

[FalconsDawgs33]

Hey guys, I'm new around here, but finding myself studying FAR and suddenly I'm pretty behind schedule. I was wondering if anyone here could give me some advice on what to focus on as I head down the stretch. Maybe like a breakdown of how heavily each section (F1-F10) is tested on the exam? Exam is on the 7th of March and I still have F8, F9, and F10 left haha. Thank you in advance

[aatoural]

Under IFRS Finance Lease is always amortized using S/L method and Capital Lease under GAAP using effective interest rate method?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

Okay I'm back from the beast. I felt like the TBS (even the DRS) were decent. The MCQs were something else. Whole lotta wth moments. We'll find out on the 8th!

[GiniC]

@boe pulling for you!

[GiniC]

@Sticky Nicky – Thanks! When I calmed down and read more of my Intermediate text, I figured that out. I gotta stop getting so tensed up! It always happens this time of night, I guess my brain is worn out. That's why I schedule morning exam sessions!

[cdn]

What percentage we use use for large vs small stock dividend?

[cdn]

Ok found it >25% large – everyday get something new …. one more week

[rossch201]

Anyone take the exam today and feel they had EXTREMELY easy simulations? Like oddly easy and simple? I had such a weird test.

[Author]

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