[jeff]

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

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

[norseman88]

@CDN don't feel disappointed. I'm about 2 weeks out and i'm just starting on chapter 6 out of 10 today. After taking REG, I had 25 days to study for this thing. Drives me crazy knowing i'm going into this thing with a failmary attempt, but better to give yourself a shot before the Q2 exam changes and delayed score release. Suffer for two more weeks and be done with this thing!

[kman21]

I was doing my sims, for the most part i had the numbers and title of the accounts right, but the becker software marked it wrong because I did not have them in certain order in their respected accounts, meaning,for the operating expense account I would put blank in box 1 and in box 2, I would put rent expense and i would put another blank in box 3 and put another expense account in box 4, I was doing that the way because that how my brain was processing it as i was thinking and as I clicked on show i had the right accounts in the right box but not in order becker software showed it so it marked it wrong for me. All that was for majority of the income statement My question is the AICPA going to be that technical for the sims ? I try to make my question as clear as possible, i hope you can understand my question, thank you! Another question, I take my cpa exam in april, am I doomed ?

[mckan514w]

@GiniC- thanks for that update- I knew there was something about a separate statement- but couldn't remember and then couldn't find it in my notes… grrrrrr so much damn info.

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

[cdn]

@norseman88 – thanks. I noticed with Becker question, they are very long so I lost track when doing them and made stupid mistakes. So I reviewing them now and like da, “I know it” so practice, practice. This is my last one and if not pass will lose credit for REG so feeling very pressured like most of us

[norseman88]

@CDN Best of luck. I will lose credit in Q3 two days before the Q2 score release, so would have to pass it in Q2 if I fail this one.

[cdn]

I try to understand consolidated part. Usually the questions ask “what will be combine amount for…?” So I wanted to know what accounts will be combine and what accounts will not. I noticed that in most questions we show only parent balance at year end? Correct?

[Sticky Nicky]

assets and liabilities get combined 100% even if you dont own 100%…every question ive seen asks for cash balance just add em up,,,then equity is parent only,,,eliminate subsidiaries part,,,then your investment in the company gets eliminated,,,then intercompany transactions get eliminated as well as AR and AP to each other…if they ask for total stockholders equity section then noncontrolling interest is shown as well…thats the easy part,,,the hard part in consolidations are the eliminating entries and finding goodwill

[aatoural]

Ha! That moment when you have not missed a question in the Governmental Funds MCQs Section of Becker and they give you a bond question. Ay mi madre! These bonds!

LOL – sorry had to share.

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

[cdn]

@thanks sticky Nicky- now it makes sense 🙂

[mtaylo24]

200 more new questions. My head is spinning man! I cleared all the new questions in BEC earlier today.

@stickynicky Good luck in 41 hours brotha

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)

[aatoural]

Sorry to ask @mtaylo, but you work full time and study for both FAR and BEC?

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

[mtaylo24]

@aatoural ^^^Yup, I work 40 hours a week w/ a 5 yr old (stuck w/ the kid a lot, day care runs, dinner etc…) and a RN wife who works all of the time. My job is chill though, nobody cares what I do 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)

[aatoural]

OMG! that is still a lot to take!

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

[mtaylo24]

@aa, I know! I get plenty of breaks with IT, Coso, strategic planning and sometimes ECON, but some of the capital budgeting and cost accounting stuff is out there. There is a lot of overlap with FAR, with some of the working capital and foreign stuff. W/ Audit expiring and the long score release next window, I gotta do what I gotta do 🙂

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)

[aatoural]

@mtay – Indeed. I don't have exams expiring but my NTS for FAR expires March 26. So I am trying my best to pass it with the extreme amount of time so I don't loose my money. Good Luck to us!

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

[Author]

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