[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]

Do you guys think I can pass exam even if I have 36 days left. Thanks

[Just3Letters]

I'm not sure what you mean by that question 2017?

I'm sure we can all pass the exam. Just lots of studying.

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

[marqzho]

Cpa2017

I think you can pass 🙂

REG 90
FAR 95
AUD 98
BEC 84

[ABTX411]

@CPA2017 –

36 days unfortunately means nothing. It all depends on your current level of knowledge, your level of dedication, and your ability to absorb and retain knowledge. I can tell you that I started my CPA adventure on January 9, 2016. I sat for BEC 26 days later (2/4) and got a 90. Then I sat for AUD 25 days after that (2/29) and got a 97. FAR was 50 days after AUD (4/19). I'll have my score back on May 5th, but I'm pretty sure I passed. I sit for REG on 5/14, which only gives me 25 days of study time.

My 50 days for FAR definitely could have been used more wisely, but I'm a single parent, and I work full time, so I wasn't able to make full use of that time. If you have fewer commitments/responsibilities than I do, I'm sure 36 days will be more than enough.

BEC - 90 - 2/04/2016
AUD - 97 - 2/29/2016
FAR - 92 - 4/19/2016
REG - 88 - 5/19/2016

[Spartans92]

ABTX, pretty impressive score. Ever though about getting the EWS? Good luck.

And CPA2017, I agree with others doesn't matter how many days you have. I am a prime example I am studying full time and I can sure say I did not utilize all the time I had wisely for AUD I studied for about 7 weeks for that. It does not matter how many days you have but how you spend those time.

Now that FAR is coming to a close. I honestly don't think the material is too bad LOL it is tough, dont get me wrong. But it is very straight forward unlike AUD where the wording is tricky.. one word can throw your answers off. Repetition is def the key for these exams.

BEC- PASS

[ABTX411]

Spartans92 – Of course I've thought about it… even salivated over the thought of it… but I'll have to average 98 on FAR and REG in order to qualify. It's not tangible enough to stress out over, and I realistically don't have time to do anything different than I've done thus far anyway. The whole working single mom thing really puts a damper on the study time. Plus, I promised my daughter that I'll be done with all of my school (I'm graduating from my master's program on May 13th) and my CPA exams before she finishes kindergarten the first week of June. I'm determined to keep that promise. My study strategy was never to get an outlandishly high score, but rather to make sure that I passed every test the first time.

There is a guy in my Wiley-based review class who is realistically up for the EWS (95 BEC and 99 AUD). I'm really rooting for him to get it.

BEC - 90 - 2/04/2016
AUD - 97 - 2/29/2016
FAR - 92 - 4/19/2016
REG - 88 - 5/19/2016

[marqzho]

ABTX411 impressive score!

any tips on AUD ?

REG 90
FAR 95
AUD 98
BEC 84

[Credit Revenue]

I am a single parent. Those are very admirable scores.

A - 79 expires 4/30/16 need a pass on REG
B - 78
F - 80
R - 83!!! Can live again!

[Spartans92]

Wow that is awesome and I can tell you're a great MOM!

Question: West Corp. leased a building and received the $36,000 annual rental payment on June 15 of the current year. The beginning of the lease was July 1. Rental income is taxable when received. West's tax rates are 30% for the current year and 40% thereafter. West had no other permanent or temporary differences. West determined that no valuation allowance was needed. What amount of deferred tax asset should West report in its balance sheet for the current year ended December 31?

ARRGHH… I figured out after reviewing notes and the book. God, why can't this be an open book exam or something! Not like we can't google anyways if we do need help in the future professional life LOL.

BEC- PASS

[marqzho]

deferred tax always use future enacted rate

REG 90
FAR 95
AUD 98
BEC 84

[mckan514w]

Spartan- The entire 36,000 was taxed when received… however they only recognized 6 months of rent (July-December) so 18,000 leaving a difference between Tax and Income of 18,000 at 40% is a temporary difference of 7,200

And that ends it for me… last question of the night and am going to try and rest my brain.

Good luck tomorrow Spartan! Keep us posted

Good luck everyone else you have this!!!

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

[ABTX411]

Thanks marqzho!

Honestly, I walked out of audit CONVINCED that I failed. I went to work the next day and told the partners that I was going to have to retake the test. There were a pretty significant number of questions regarding a specific area that I felt my study materials really skimmed over and did not adequately prepare me for. I have no clue how I did so well, but I'm assuming this particular subject matter must have been in pilot mode, and I must have killed everything else. Here's what I did:

Study:

I used CPA Excel and answered all of the EQs in “study mode” and made sure that I understood not only why the correct answers were right, but also why the incorrect answers were wrong. By doing this and reading through the explanations given for each answer choice, I eliminated the need to read through the study text and/or watch the lecture videos. I only read the study text if I really felt confused about a particular topic. I never watched any of the videos.

I answered all 1,157 “EQ” (MCQs) in the course section, and I did 975 out of the 1128 available MCQs in the separate Wiley test bank section. I also completed 101 out of the 112 TBS (simulation) questions. In retrospect, I probably wasted time by answering that many TBS questions, and probably should have focused on finishing the remaining test bank questions.

For the exam – see my post above. Basically, don't waste time by pondering over an answer. Take a guess, flag it, and move on. If you have extra time, go back and try again.

GOOD LUCK!!!

BEC - 90 - 2/04/2016
AUD - 97 - 2/29/2016
FAR - 92 - 4/19/2016
REG - 88 - 5/19/2016

[marqzho]

ABTX411

So without watching the lecture and reading the book, you just started answering MCQ on day 1 of your study? Orz

REG 90
FAR 95
AUD 98
BEC 84

[ABTX411]

Right! Super important detail that I left out was the fact that I am in a review class that is based on the Wiley materials. We meet for six hours per week. I'm pretty certain that the lectures in this class are a close substitute for the videos. If I weren't taking the class, I definitely would have watched the video lectures.

Also, although I finished my undergraduate degree back in 2005, I didn't start my masters degree until 2014. The only audit class I ever took was in fall of 2014, so it's still pretty fresh in my brain.

BEC - 90 - 2/04/2016
AUD - 97 - 2/29/2016
FAR - 92 - 4/19/2016
REG - 88 - 5/19/2016

[ABTX411]

Also, in Wiley when you use the software's study mode or the test bank in practice mode, it automatically provides full explanations for why each answer choice is right or wrong as you click through them. That's why this worked for me as a substitute for the full study text. It basically ends up giving you the same information in a format that worked better for my learning style.

BEC - 90 - 2/04/2016
AUD - 97 - 2/29/2016
FAR - 92 - 4/19/2016
REG - 88 - 5/19/2016

[Author]

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