[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

[Spartans92]

Wait, Just3 I thought DTA and DTL is dependent on what gave rise…(as Tim says it follows its Mama LOL). I know under IFRS they are all Non-current. May be wrong. Need to check the book.

BEC- PASS

[KJ]

Did anyone checked AICPA new release ‘difficult' questions for FAR?

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]

Hmmm…. yeah I do remember him saying that.

I guess what I wrote is just how I think about it. Where the deduction happens (now or in the future)

But yeah completely ignore everything I said if I'm wrong lol

Under IFRS all DTA and DTL are non-current. You're right there

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

[Just3Letters]

Kanwal,

are they on Becker? I saw they are on Ninja MCQ but I don't have that :/

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

[Claudia408]

I agree DTA and DTL is dependent on what gave rise… so in determining if it's current or noncurrent is where I get tripped up. I remember seeing a problem where it said depreciation is non current… but i couldn't make the connection??

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

[Claudia408]

Just found this: DTA and DTL is classified as current or noncurrent based on the classification of the asset or liability that the temporary difference relates to regardless of the period in which it will reverse.

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

[marqzho]

Depreciation -> related to PPE -> PPE is Non-current. So DT because of Depreciation should be classified as non-current.

REG 90
FAR 95
AUD 98
BEC 84

[KJ]

Just3letters

They are on Ninja..actually not too bad, I got 3 wrong out of 12. Give me some more motivation. I need to work more on % of completion/CC and DTA/DTL.

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]

Kanwal:

Your motivational quote for the day:

Studying doesn't suck as much as failing but passing is much more enjoyable than procrastinating 🙂

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

[Spartans92]

Haha nice Quote, mate! I need to work on the completed contracts too. Just got back from my Tax exam! Boy those AMT Tripped me up.

BEC- PASS

[Just3Letters]

Yuck. Tax was a very confusing class for me. For one, it was confusing just because of the difficulty of all those tax rules (plus the changes for 179 and other deductions making my textbook pretty much entirely incorrect)

But also, it was confusing because I actually really enjoy tax work but I despise the college classes lol

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

[Spartans92]

LOL I know. The classes always make it so much more difficult.. we get something called tax software lol. I was lost and made a lot of educated guesses. Glad got it over with. Ugh, gotta hit FAR now.

BEC- PASS

[KJ]

When I took tax class, our professor was an ex-IRS employee…He talked more about his career than teaching…boy was he something, did not enjoy the class at all…

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]

..just3letter..thanks for the quote!!

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]

haha anytime Far friends,

I have to say… I've heard the whole “ignore the SIMS and just do MCQ until you die” so many times

I still do SIMS for any concepts that I am struggling with because they are much better imo at helping you learn the concepts than MCQ. MCQ help me a lot but if you are still struggling I would recommend trying some sims and then reading becker/roger's explanations for the areas you get wrong

It helped me! just a thought

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

[Author]

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