FAR Study Group Q1 2017 - Page 20

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  • January 9, 2017 at 1:48 pm #1427882
    mtaylo24
    Participant

    @McKan, Just checked (always thought you needed an NTS to check). Only 4 open dates in the extended window at my local prometric and no weekends available for the entire window! Feb looked decent though. I'm scared to drive again, as I've bombed all 3 times that I've traveled.

    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)

    January 9, 2017 at 2:14 pm #1427909
    Stilgoin
    Participant

    @bondvillain – for the research, my experience has been that it is based on key words. Sometimes they do not give you the key words, but if you know the topic, then you know what to search. Did you do the online AICPA practice FAR exam? It helps. I have never used the AL for help on anything besides research except on AUD, but I have heard others say they found examples, so just knowing the outline might help you.



    @mckan514w     @mtaylo24 Did I mention when I pushed my exam 8 days, I now have to wait 32 days (Feb 28) for my score? 😑 Jeez- will this torture never end…..

    B | 62, 78
    A | 73, 67, 79
    R | 82
    F | 59, 59, Waiting

    Ethics | 93

    "Success is not final, failure is not fatal: it is the courage to continue that counts."
    ~Winston Churchill

    β€œIn a world full of critics, be an encourager."

    January 9, 2017 at 2:23 pm #1427925
    cdn
    Participant

    I got ninja plus and love them but you need internet access. Ninja audio – you also need internet access, right?

    January 9, 2017 at 2:36 pm #1427936
    Tarheel83
    Participant

    I have used it on my iPhone's data connection. I have google drive, I upload the information on there, then I have an app (CloudBeats), that plays back audio from Google drive.

    Also, you can get the google drive app and set the ninja notes to be stored on your device so that you do not need an Internet connection to view them.

    This setup has works well for me, but I'm still grandfathered into the unlimited data on AT&T. I just log into CloudBeats, have it connected to my google drive and play the audio through my cars speakers.

    If you have storage space on a smart phone or an iPod you could add the audio notes to your iTunes and then upload them to your device and play them without the internet, but it's more work on the front end.

    January 9, 2017 at 2:45 pm #1427942
    Stilgoin
    Participant

    No on the internet access for NINJA audio- load it into your music through itunes. I also took my NINJA notes and recorded them as a voice memo on my phone so I can listen to them. You could do the same with questions or flash cards. Read them into voice memo on your phone so you can listen to them on your commute.

    B | 62, 78
    A | 73, 67, 79
    R | 82
    F | 59, 59, Waiting

    Ethics | 93

    "Success is not final, failure is not fatal: it is the courage to continue that counts."
    ~Winston Churchill

    β€œIn a world full of critics, be an encourager."

    January 9, 2017 at 3:04 pm #1427954
    cdn
    Participant

    @stilgoin – that is great idea through itunes πŸ™‚ thanks

    January 9, 2017 at 3:06 pm #1427955
    Anonymous
    Inactive

    Thanks stilgoin. Also, what is everyone's experience using Ninja for the research simulations? I love Ninja but the software for the research sims sucks. You can't drill down on topics and the search function is very wonky. I have been using the FASB website to do the research to answer the Ninja research sims but I'm not sure that is the right way to do it. The ASC via FASB lists the names of all the topics instead of just the number code as Ninja does.

    January 9, 2017 at 4:06 pm #1428077
    mtaylo24
    Participant

    Is Ninja Plus still available for $67 or do you have to buy the whole ten point combo? Couldn't find it anywhere…

    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)

    January 9, 2017 at 4:15 pm #1428107
    Stilgoin
    Participant

    You can purchase Ninja plus if you are an MCQ customer. It is on the front page of the MCQs.

    B | 62, 78
    A | 73, 67, 79
    R | 82
    F | 59, 59, Waiting

    Ethics | 93

    "Success is not final, failure is not fatal: it is the courage to continue that counts."
    ~Winston Churchill

    β€œIn a world full of critics, be an encourager."

    January 9, 2017 at 4:36 pm #1428183
    mtaylo24
    Participant

    Thanks! Is Plus worth it? I was saving the MCQs for later this month, but I guess I should go ahead and get both now since they are available for 3 months…

    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)

    January 9, 2017 at 4:44 pm #1428212
    Stilgoin
    Participant

    Really, I think Plus is totally worth it. Bob has great shortcuts and a different perspective always helps. jmo

    B | 62, 78
    A | 73, 67, 79
    R | 82
    F | 59, 59, Waiting

    Ethics | 93

    "Success is not final, failure is not fatal: it is the courage to continue that counts."
    ~Winston Churchill

    β€œIn a world full of critics, be an encourager."

    January 9, 2017 at 4:48 pm #1428216
    mtaylo24
    Participant

    Last OT question for the videos. How long does it take LOL? How many videos and are they bite size or long?

    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)

    January 9, 2017 at 5:00 pm #1428236
    Anonymous
    Inactive

    I've been using the Plus videos to prepare and they are excellent and manageable to watch over multiple sittings. There are some limitation though as some of the material is out of date and the videos do not cover every topic and some of the minute rules. At $67 it's worth it.

    The videos are generally about 15-20 minutes each so they are very easy to sit through.

    January 9, 2017 at 5:27 pm #1428303
    mtaylo24
    Participant

    Thanks dude

    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)

    January 9, 2017 at 5:38 pm #1428357
    NYaccountingstudent
    Participant

    AmeriGene Inc. reported net periodic pension cost of $400,000 in the current year, calculated as follows:

    Service cost $ 300,000
    Interest cost 175,000
    Expected return on plan assets (100,000)
    Amortization of prior service cost 40,000
    Amortization of net gain (15,000)
    Net periodic pension cost $ 400,000

    AmeriGene has an overfunded pension plan. The company's effective tax rate is 30%. How will the service cost component of the current year net periodic pension cost affect the current year balance sheet?

    a. $300,000 increase in noncurrent pension benefit asset.
    b. $90,000 increase in deferred tax asset.
    c. $300,000 decrease in retained earnings.
    d. $90,000 increase in accumulated other comprehensive income.

    Why is the answer B $90,000 increase in deferred tax asset and not $120,000???? Wouldnt 30% of the $400,000 net periodic pension cost be $120,000?

    I just started F6 today so maybe im missing something that is very easy

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