[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

[Zyx]

Dab, I see what you are saying. I'm not sure but I think for question 2, you just have to pick the best choice. A,B and C are obviously correct. I think D. is wrong because of the word “details description of the plan”. That would be too much info whether or not including employee groups covered.

Btw, I see you passed reg already. Do you get confused something on taxes topic? I keep thinking like taxes in reg when doing mcq like referring to basis, built-in gain so I get mcq wrong a lot.

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

[JT]

@zyx11

Thanks for your response to my question.

Also, I get tripped up a lot on the non-monetary exchange questions which is similar to like-kind exchanges in reg, but there are different rules.

I understand the deferred tax asset/liability kind of good because of reg though.

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

[Zyx]

Yeah same here. I get tripped up on the non-monetary exchange too. I think studying reg and bec first helps me study quickly on some topic and spend time on something new. It is still a beast anyway, too much details to remember.

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

[So FAR So Good]

Hey everyone,

Love this thread – lots of help in here on topics where I've had some trouble!

I'm very behind on my studying at the moment and getting a little nervous. I'm just about done with the first 7 chapters of Becker and intend on using Ninja for my review week after plowing through Government and NFP this weekend (exam on 6/5). Everything seems to be clicking so far, but I'm running out of time.

If there is a major time crunch, I was thinking of skipping Chapter 10 (Fair Value, Partnerships, VIEs, AROs, Contingencies, Sub Events, Etc.) and Ratio Analysis in favor of doing more of a thorough sampling of MCQs with Ninja. Is this a bad idea? I have no idea how heavily tested these items are, but I'm afraid of running out of time to do a full review in favor of getting through those sections.

Who knew this exam was so stressful? 🙂

F - 91 (6/5/2016)
A - 7/30/2016
R - 10/8/2016
B - 12/10/2016

[SONA]

Hey i have not given any section yet. Now i am in my review week, the only thing i regret is why did'nt i do any progress test for the chapters i finished.

I think that's my mistake i realized in my review week. If i would have done the progress test every week i finish my chapter then i would'nt be feeling that i never read the chapter.

So, i would advise to take the progress tests at least 30-60 questions once a week, as you finish you chapters.

Hope this would relieve you in review week.

Good luck

[SONA]

[patelhj1]

@SONA Same mistake I feel like I made.. BEC and REG I didn't do any optional questions, nor any progressive test.. FAR is just a different BEAST!

Just remember that they can't test you on everything and honesty from BEC and REG experience the actual test questions are typically 1 or 2 lines… never anything like Becker with 4+ lines… Just gotta get a basic understanding of the concept…

Are you using the Lecture Outlines for each chapter. Its a great summary of key concepts you need to know

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

[So FAR So Good]

@patelhj1 Thank goodness! These Becker questions absolutely kill me sometimes … I feel like I spend my whole 1:30/question time allotment just reading the darn things!

The lecture outlines suggestion is very helpful – thank you! I just took a look at them for the first time and I think I may just read those for Chapter 10 and then jump right into MCQs rather than taking the time to read through and view the entire lecture.

F - 91 (6/5/2016)
A - 7/30/2016
R - 10/8/2016
B - 12/10/2016

[SONA]

@Patelhj1….. Yep the outlines are helpful they are helpful.

They actually give overall idea about what will be in the h.w.

I just want to finish all h.w. on Sunday. Your exam is on Tuesday right?

Good luck… Study hard.

[patelhj1]

Wednesday May 25th I live in Baltimore MD.

I'm planing on doing the same finish all Hwk by Sunday. Do all SIMS Monday and Tuesday take Final Exam practice test.

Should be completing F6 tonite and starting F7

I would also like to know from anyone thats taken the test, how important F10 is. Time is limited and would like to skip the HWK and SIMs for that chapter

I'll come back and leave a review on the test was for anyone taking it after me!

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

[So FAR So Good]

Finish strong, @patelhj1! F6 was a beast… couldn't wrap my head around deferred taxes. Thankfully F7 turned things around a bit.

F - 91 (6/5/2016)
A - 7/30/2016
R - 10/8/2016
B - 12/10/2016

[KJ]

Well, I am on the same boat as you guys. Doing my review feels like don't remember anything. I am just going over notes/flashcards I wrote and doing MCQ's. If I get a question wrong, I am just going back to read that topic from the chapter. Sorry I do not use Becker so not sure about sections. I am trying to finish the review by Sunday or Monday and then Tuesday/Wednesday MCQ/SIMS/Practice exam, Pound only MCQ and SIMS on Thursday and Friday practice exam.

FAR is BEASTEST OF BEAST I feel. Even though I have not taken other exams but from the reviews I have read FAR is definitely the BEAST to conquer. Loving CPA!!!

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]

Pinkerton Corp. uses the cost model for intangible
assets. On April 10, year 3, Pinkerton acquired assets for
$100,000. On December 31, year 3, it was determined that the
recoverable amount for these intangible assets was $80,000.
On December 31, year 4, it was determined that the intangible
assets had a recoverable amount of $84,000. What is the
impairment gain or loss recognized in year 3 and year 4 on the
income statement?
Year 3 Year 4
a. $20,000 loss $16,000 loss
b. $20,000 loss $0
c. $20,000 loss $4,000 gain
d. $0 $0

Like SONA said earlier, read the question CAREFULLY!!!!

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

[MaLoTu]

Is it d? I am just thinking that if it is a cost model than it would be cost less amortization … otherwise it could be b because once it was written down in year 3 it would not be subsequently increased to the 84k … I am really not sure!

[MaLoTu]

So FAR – I would at least try to take a look at F10, like read through it. They have been testing the material pretty evenly and I think some of the F10 material is prime for simulations. But, you can probably skip IFRS because you should have been exposed to that throughout the book. I wish I could say in good conscious that it is fine to skip, but skipping anything is a risk.

[Author]

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