Ugh…. I haven't looked at any sims either, just been hammering through MCQ's. If I spend anytime on sims, it's going to be breezing through them really quick, end of the day its the luck of the draw for sims come exam day.
I have a day left and It will likely be spent on MCQ and reviewing my notes.
Does anybody have any good suggestions for what you should write on your board right away when you get in the exam? I usually take that initial 10 min to write everything I can possibly remember on the laminate board.
GRaSSP SE PAPI
SIR AGE
PUFER
CAR IN BIG
OWNS
Investment method: Cost under 20-25% vs Equity over 20 – 25% or significant influence
Impairments Gaap vs IFRS
SOCF direct vs indirect
Large stock dividend > 25% vs small stock dividend < 25%
Treasury stock cost vs par method
Nonmonetary transaction – Lack commerical substance boot received < 25% vs boot received > 25%
Nonmonetary transaction – with commercial substance = gain = carrying < FV acquired asset
Reporetable segments – 10% Revenue, 10% Asset, 10% profit all profit segments, 10% loss all loss segments, greater of 10% P/L for absolute amount
Acquisition mehtod formula (FV of acquisition [purchase price / %ownership] – BV acquired – BS FV adjust – Identifiable Intangible Assets FV = Goodwill)
Inventory Lower of cost or market vs lower of cost or NRV
Major Fund Reporting = 10% Asset, Liabil, Rev, expend, corresponding fund and 5% of gov't fund + enterprise fund.
What else??? Man, there is just so much! I'm weak on Diluted EPS and Dollar Value LIFO, wondering if I should spend time tomorrow trying to lock that down or just review MCQ galore!
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