[jeff]

Welcome to the Q2 2016 CPA Exam Study Group for FAR.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

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

[SONA]

Carrying amount.

step 1: PV of $1@market rate(8%) x bond face value =100000*0.68058 = 68058

step 2: PV of ordinary annuity of $1@ market rate(8%) x (face amt. x stated rate) = 3.99271 x (100000 x 5%)=19963.55

Ans: Net bonds payable = 68058+19963.55= 88021.55 or 88022

I think this might help you. If i am not wrong. The only time you use the stated rate is in STEP 2.

[MaLoTu]

@sona, yes, thanks!

[KJ]

@ SONA, Generic, Malotu Thanks!!, It is easy one but small detail can mess it up. I guess we have to add discount amortization in the carrying value to get to the answer.

FAR - August 2016
AUD - September 2016
REG - October 2016
BEC - November 2016

Remember: "Everything should be made as simple as possible, but not simpler." - Albert Einstein

[KJ]

I guess “net” is the keyword here.

FAR - August 2016
AUD - September 2016
REG - October 2016
BEC - November 2016

Remember: "Everything should be made as simple as possible, but not simpler." - Albert Einstein

[Just3Letters]

Thanks everyone!

Dab,

I did thousands. Honestly at least 4000 unique questions I'm sure. It might have been overkill but my progress was tough to gauge because I hadn't taken an exam before so I didn't really know when to “feel good”. I just kept grinding them out and making sure I read and understood the explanations for the answers.

I did two Becker practice tests: The first one I got a 67 but I was totally distracted and didn't really provide myself an exam environment so I could focus. The second test just two days later I got 83. Over all the thousands of MC I did, my average was mid 80s. When I initially started studying a couple months ago, my averages were in the 60s but I studied enough that I brought the averages up to a point where I was feeling confident.

Depending on my score, I'm going to adjust the time spent staring at Becker and Ninja for Reg, BEC, and Audit. I just didn't want to take any chances with my first take. I also could have failed though, who knows.

FAR- 81
REG- 81
BEC- Aug 22, 2016
AUD- TBD

[Just3Letters]

So do scores always come out exactly at the same time? Like I can't expect my score until May 24?

FAR- 81
REG- 81
BEC- Aug 22, 2016
AUD- TBD

[Spartans92]

Just3, Congrats on finishing up! Doesn't it feel great to start a new section?
Sadly, it is Reg.. equally as bad as FAR LOL. Last time for me the site took a while because of the capacity prob but it was within 10 mins of the schedule time. Got mine around 1:10-1:12 AM ish EST. Im sure u did well with that many questions! Good Luck!

BEC- PASS

[Zyx]

MaLoTu, thanks for explaining that. It was helpful for me to understand that.
Just3Letters; I wish you luck, hope you passed at the first try!

As for my earlier confusion about allowance uncollectible. Now I understand after reading my textbook (some topics on my CPA review materials are too grasp and I have to read textbooks to get a solid understanding)
I just wanted to share if someone is struggling like me.

There are 2 methods of allowance uncollectible
1. Income statement approach which we estimate a percentage of bad debt expense based on the history of sales and bad dents.
2. Balance sheet approach which we determine the ending balance of allowance uncollectible accounts then record the amount of bad debt exp that is necessary to adjust the allowance to that desired balance.
AR – allowance for uncollectible accounts = net AR

REG: 77 x2
BEC: 81 x3
FAR: 68 retake 10/1
AUD: 8/27

[JT]

U guys rock!!

@just3… Thanks for the info.

4k unique questions from becker and ninja combined? I'm thinking about buying another test bank for more unique practice questions. I'm considering cpa excel or gliem, or something.

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[MaLoTu]

There is also CPA review for free dot com … However I am not sure they are up to date with the recent FAR changes that took place starting this year.

[MaLoTu]

There is also CPA review for free dot com … However I am not sure they are up to date with the recent FAR changes that took place starting this year.

[pickanicken]

I am in my final review for FAR. I am taking the exam Tuesday. I have got to say, I truly don't know how it will be possible for me to pass this exam. I have studied countless hours but can't seem to retain the information. By the time I go back to review a concept that I thought I had mastered, I find that I have totally forgotten half of the information I learned. I'm convinced that this exam must have the biggest curve by a mile because to be honest I didn't find the other three exams to be that difficult. This is crazy.

REG - 81
BEC - 83
AUD - 86
FAR - 78 (Done!)

[lolo]

@MaLoTu, Do you recommend that I should supplement my Becker study with Ninja MCQs for BEC or Becker is enough? just wonder if anyone knows! or have anyone else tried both and noticed that ninja MCQs can make the difference?

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[Just3Letters]

Sunshine, I haven't taken BEC yet but Ninja MCQ are easily my favorite study material! I love the adaptive learning thing! Too bad it's only on the internet though, sometimes I wait around 30 seconds for the questions to change 🙁

I just saw that the REG group is only on page 15 🙁 We MUST fix this!

FAR- 81
REG- 81
BEC- Aug 22, 2016
AUD- TBD

[SONA]

Patel & pinakinicken

I think we are in the same boat. I started doing becker h.w. again. Redo all h.w. then ninja mcqs.

Good luck to pinakinciken on your exam on tuesday. Take a deep breath when you start the exam. I am also feeling the same way as you are that i am not retaining any info in my brain. Everything is just a blurr blend of all chapters :D.

But you are all at your final stage. Just read the flashcards, notes, do comprehensive tests, mcqs. Take a good night sleep before your exam.

I am talking like i passed all sections. My first FAR is on MAY 28, I will be in the same position as you are :/.

So i will reread my post. LOL

Good luck once again.

[Author]

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