FAR Study Group Q1 2017 - Page 162

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  • March 9, 2017 at 3:34 pm #1509789
    mtaylo24
    Participant

    @mckan hang in there! We tend to only focus on what we know we answered wrong.

    I'm only averaging 52, trending 64 right now. The big financial section and government refuse to budge. Anyways, like last week this should be an all-nighter, since I have to be at the test center at 7:30 and I don't trust myself to wake up on time. Time to go stock up on some 5 hour energies and candy!

    AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
    REG - 55 (2/16) 69 (5/16) Retake(8/16)
    BEC - 71(5/16) Retake (9/16)
    FAR - (8/16)

    March 9, 2017 at 3:47 pm #1509801
    mckan514w
    Participant

    OMG if anyone could / should pass it would be you Mtaylo!!!!!! Cough cough cough go back through stuff that isn't related to FASB cough cough cough 3 of my 7 sims)

    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

    March 9, 2017 at 4:38 pm #1509847
    NYaccountingstudent
    Participant

    @cruzer im averaging 68% and trending 74 with 2175 questions completed

    im going to try and do 200 mcq today and read the ninja notes

    i can stay up late tonight because my test isnt until 330 tomorrow

    March 9, 2017 at 4:42 pm #1509855
    NYaccountingstudent
    Participant

    I just did the math, i easily did 5,000 MCQ while studying for FAR between Becker and Ninja

    I did my math assuming each becker chapter had 200 questions

    March 9, 2017 at 4:52 pm #1509864
    mtaylo24
    Participant

    I just checked. I did 9,756 in Gleim 597 hours (probably inflated from staying logged in) and 3,305 in Ninja 93 hours and I will still probably fail LOL.

    AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
    REG - 55 (2/16) 69 (5/16) Retake(8/16)
    BEC - 71(5/16) Retake (9/16)
    FAR - (8/16)

    March 9, 2017 at 5:08 pm #1509870
    Holly
    Participant

    My father in law asked if we were able to bring notes in with us to test. I explained we have to lift our sleeves, pants legs, etc and he was shocked.

    BEC - 79
    REG - 85
    AUD - 5/27/16

    March 9, 2017 at 5:19 pm #1509882
    Cruzer
    Participant

    Thanks @Mtaylo24 and @Namstut for the JE's and mnemonics. Going to look those over today. My trending score isn't where it should be but I am not too concerned since I feel confident on areas (Most of my score is from all first time seen questions) and only 400 missed from last time). I sure hope to hell that I get a statement of CF sim or IRFS business acquisition SIM because I know those inside out. Govt is my only weaker area but I am praying I can smooth some things out. I am actually reviewing my State Board of Accountancy's financial statements as an example of Govt financials lol

    March 9, 2017 at 5:23 pm #1509889
    GiniC
    Participant

    Hey everyone. Spent some long overdue time with my mom after finishing the test. I feel not great, not awful about it. My software glitched and changed my list of choices in a sim, and even the reset couldn't fix it. It was reported by Prometric, and fortunately I didn't desperately need those eight minutes!

    It was about like everyone has been saying – lots of Gov't/NFP, quite a few IFRS, and a thorough distribution of everything else. I'm thinking I'll keep working through Becker sims I didn't finish before until score release, just to keep everything rotating in my head…

    March 9, 2017 at 5:24 pm #1509892
    NYaccountingstudent
    Participant

    @cruzer is the only difference between IFRS and GAAP business acquisitions the partial VS full good will method?

    or are there other difference i dont know about

    March 9, 2017 at 5:26 pm #1509900
    Mscfisher
    Participant

    @ginic I had a software glitcg a good ones and I said if I didn't pass I was definitely going to appeal my score. Sounds like a okay experience now what else will we do for the next 10 days.

    March 9, 2017 at 5:26 pm #1509901
    Cruzer
    Participant

    @GiniC I am sure you passed. You seemed to have put in diligent work based on your comments on the thread. We will all be in the March 21st score release thread as it gets closer. Crossing my fingers for my FAR attempt tomorrow to be one and done on the beast!

    March 9, 2017 at 5:27 pm #1509904
    Holly
    Participant

    @ginic the glitch!!!

    BEC - 79
    REG - 85
    AUD - 5/27/16

    March 9, 2017 at 5:29 pm #1509906
    GiniC
    Participant

    Thanks! Good luck to all of you testing tomorrow! I'm going to get reacquainted with my life for a few hours!

    March 9, 2017 at 5:32 pm #1509912
    Cruzer
    Participant

    @Nyaccountingstudent From the SIM I worked to death, here were the differences when transitions GAAP to IFRS when accounting for goodwill:

    Consideration Given: Fair value of consideration (Purchase price) – FV of net assets (In this case it would be the reimbursement amount to the former shareholders for legal fees incurred to complete the acquisition)

    Fair value of net assets: Total assets, excluding goodwill less total liabilites

    March 9, 2017 at 6:13 pm #1509937
    aatoural
    Participant

    What up with the glitches lately. That can really catch you of guard.



    @hrsexton     – the way Ive explained prometric to family is “worst than airport security”

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

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