[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

[Anonymous]

Thanks SONA. I use Roger, i see your point, I will be doing final reviews and do as many comprehensive test i could untill my exam day. I hope i make it…

[SONA]

Yes………. you will.

Good Luck.

[Anonymous]

Hey Everyone,

Quick question about initial direct costs:

I know that initial direct costs under IFRS of the lease paid by the Lessee are added to the
amount recognized as a Finance Lease Asset. BUT how are these initial direct cost treated under GAAP?

[patelhj1]

@cpa1sttry Under US GAAP executory cost (insurance, maintenance, taxes) are excluded from the calculation. If your using BECKER page F5-13

BEC 78 08/2015
REG 71 11/2015, RETAKE 83 01/2016
FAR 75! 5/2016
AUD ? 8/2016

Becker with Nonstop NINJA MCQ
Google most difficult professional exam

[SONA]

@patel1hj

you rock…..

Yes, that's correct

[Anonymous]

Thanks @ patelhj1 and I hope you did well on FAR yesterday!…..I second @Sona

[patelhj1]

I take my test May 25th so i'm still on heavy review phase. Just finished F5 Bonds sections, it's so hard to understand and the Becker questions are very long! I just started reading F6 and can barely concentrate…falling a day behind schedule but if I can finish the pension Becker question ill be in alright…

i just gotta focus but this NBA game on isn't helping 😛

BEC 78 08/2015
REG 71 11/2015, RETAKE 83 01/2016
FAR 75! 5/2016
AUD ? 8/2016

Becker with Nonstop NINJA MCQ
Google most difficult professional exam

[SONA]

stock. On January 1, Year 1, the fair values of Tun's FIFO inventory and land exce eTduend, Itnhce.i'rs c caorrmyimngon aTmuno'su nYtse.a rH 1o we adron itnhgess?e excesses of fair values over carrying amounts affect Park's reported equity in
Inventory excess Land excess
a. Increase Increase
b. Decrease No effect
c. Increase No effect
d. Decrease Decrease
Explanation
iCnvheonicteo r”yb b” yis d ceobritriencgt .I nPvaerskt mweonultd I nrceocmored athned acdrdeidtiiotinnagl tCheO IGnvSe satsmseocnita itne dT uwni'tsh athcec ouunndte. rSvianlcuee dt hbeeginning vdaiflfueere wncoeu lbd ehtawveee nn ob eofofke cvta olune e aqnudit yfa iinr emaarrnkinegt sv.alue on land is not amortized, the difference in the land

[patelhj1]

@SONA I'd help but the problems all scrambled.

BEC 78 08/2015
REG 71 11/2015, RETAKE 83 01/2016
FAR 75! 5/2016
AUD ? 8/2016

Becker with Nonstop NINJA MCQ
Google most difficult professional exam

[SONA]

@Patel1hj……….

I know 🙁 i am copy pasting it but just copying like this. It's becker equity h. w question.

I explanation for the answer is not enough to understand.

[msteezzz]

I'm having such a hard time answering codification questions correctly. What's the word of advice? How can I improve on it or understand it better? 🙁

First time taking CPA exam.

[MaLoTu]

I am in government accounting right now and I am bothered by this Becker pass key.

Grants and special revenue funds:

“The rule of thumb for the correct account is:
monitoring = special revenue
non-monitoring = agency trust “

What does monitoring and non-monitoring mean? I have read the whole page an there is no mention of either of those terms.

[MaLoTu]

msteezzz – are you referring to the research simulations?

[msteezzz]

@MaLoTu….. YESSSSS 🙁 all the ones from SIMS…. I couldn't answer any of them correctly :'((

[MaLoTu]

It just takes practice. The most important thing is figuring out what key words will get you to the area you are trying to find. They can be tricky, even on the actual exam.

[Author]

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