[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

[Claudia408]

it's like the stupid AICPA is running out of questions about relevant sh*t like bonds, leases and shareholders equity, they gotta throw useless and worthless questions at us like govt and NFP that's over 1/3 of the exam.

no offense to anyone working in govt and NFP… just a rant.

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Spartans92]

Claudia, most of the JE just clicked for some that don't make sense I just kinda memorized them and hope for the best. Are you talking about the (budgets, Appropriations, and Encumbrance)?

BEC- PASS

[Claudia408]

Spartans – yes… Fund Balance, Appropriations, Reserve for Encumbrance etc. I don't understand really, but I guess I could memorize them… it's just that I know that bc I don't know how they work, I will get it mostly wrong.

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Just3Letters]

Claudia,

If you do my pensions/leases on the CPA i'll do your governmental/nfp

deal?

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

[mckan514w]

ha ha ha… I hear ya Just3letters! Pensions WILL be the death of me… Govt. is just annoying- and I agree with Claudia- its like they are running out of questions testing so much on something so many of us will never use…. and don't get me started on IFRS…

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

[Spartans92]

Not sure if you're using Becker but for Budgets you generally would DR: Estimated Revenue and CR: appropriations and DR or CR your budgetary control depending if its a deficit or surplus. Then you reverse those entries when it closes. Do you have any specific problems you need help with? I know it is hard to explain etc through the internet

BEC- PASS

[hasy]

I think you should really make an effort to understand gov't and NFP. It was littered over the exam. Keep practicing journal entries.

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved - Helen Keller

-

BEC 80 (10/23/15)
FAR 72 (4/2/15); 83 (7/11/16)
REG 52 (4/28/15)
AUD (9/9/16)

Roger + NINJA MCQ + WTB

[Claudia408]

Just3- I'm still scoring in the 50s, maybe 60 if the stars line up right. I am just more comfortable with bonds than Govt though… never saw Govt accounting until now. Bonds I had to shove down my throat for BEC. lol

Spartans – I don't have a specific question about Govt JEs yet, but I saw these Gov't monster SIMs and was like uuuhhhhh… where to start!? I'll post one in the coming days I'm sure…

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Just3Letters]

Did you guys read about the CPA changes for next year? They just got published yesterday. I REALLY need to finish this year now haha

There are some changes happening starting this July. We are going to have to do something called a “Document Review Simulation” which I guess is supposed to be like “real auditing” or something but I believe it's on all the exams. Hopefully I learned enough in my internship to handle that haha

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

[Claudia408]

Just3 – i think those changes are pre test and won't be counted towards your score. the one that would affect your score won't be until April 2017.

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Spartans92]

Claudia, I just looked over the SIMS. I agree they are a MONSTER!

BEC- PASS

[srv101284]

Man, everyone talking about regressing as they go is scaring me, because I'm starting to see it myself. I've gone back to practice some new MCQ's from prior sections and it's crazy how much I've forgotten. Just keep plugging, I guess…

By the way, can anyone with real exam experience say how close to Becker the Sims are? I'm going through F2 sims right now (put them off for a bit to focus more on lectures and MCQs) and the length of some of these are frightening! One SIM alone has three years worth of journal entries to book across the three different methods used for construction contracts (a total of 27 separate questions). This is nuts, and I can't fathom completing a question like this in less than 20-30 minutes, let alone 7 of them!

I also had a minor freak out after doing F1 sims, because I thought all 7 sims in F1 were “one” Simulation. I panicked thinking I had just spent over an hour on one Sim until I realized how silly I was. 🙂

[Just3Letters]

Claudia, I don't think we can be sure which are pretest but I hope so!

Also, this question is really freaking long so I can't type it out but anybody who has becker want to search for this question and answer someting for me? It's CPA-05456 in F5.

I get the gist of the question and how to answer it but doing all the required calculations takes me well over 90 seconds. Anybody have a better way of doing this or am I a slow calculator pusher??? 🙁

This 90 second thing is killing me. I probably answer only about half of the MCQ in 90 seconds…

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

[Claudia408]

Just3 – no you don't know which is a pretest but if i had to guess, that would be it…they provide documents to look at and they ask you questions on it. i would do those last and try to get others out of the way first.

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Spartans92]

How many weeks do you guys think REG should take? Currently taking a Tax class. Was thinking if I should reschedule to take REG after the class is over.. appreciate the suggestions. Class ends 6/14 exam is 6/10

BEC- PASS

[Author]

Replies