[jeff]

SO I know every test is different but does anyone have any insight on what has been heavily tested recently? I take the exam Monday and I need to narrow my focus….Thanks!

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Gabe]

Ron- capitalized are items AFTER technological feasability…so 24+20+15

In the answer do they break out what is included in that 34? I would assume, for inventory, it is whatever it takes to get the item “up and running”..which is different than everything after technological feasability..

Anyone else?

CPA, CFE
CISA- Experience will be completed by August 2016

[ron10590]

Gabe-

Whoops… I missed one line: Duplication of Computer Software and Training $ 25,000.

The inventory costs include the $25,000 and $9,000 Packing Products, with the explanation: Product costs that are easily associated with Inventory are included as inventory costs.

What I don't understand is, aren't we capitalizing the software costs as part of Inventory? Isn't Inventory the one line item on the Balance Sheet? How can there be two different values? Is the key in the phrase “subject to amortization” for software costs but not inventory?

REG (7/14): 82
FAR (11/14): 81
BEC (1/15): 83
AUD (5/15):

[Gabe]

In short, yes, the key phrase is “subject to amoritzation.” Not all inventory costs are subject to amortization, so they're looking for the two separate amounts. Plus, I think it is poorly worded 🙂 gotta love CPA questions

CPA, CFE
CISA- Experience will be completed by August 2016

[Determined CPA]

Anyone in the adaptive phase who is using ninja?

I need to do another 150 or so questions to be at the 35% – nervous that the questions will get significantly harder.

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Anonymous]

Yes, I'm in the adaptive phase. The questions should get harder since it will zero in on your weaker areas. I will be hitting the MCQ and SIMS hard this week.

[Gabe]

I am also in the adaptive phase…so many BONDS haha

CPA, CFE
CISA- Experience will be completed by August 2016

[Determined CPA]

Gabe – that's my fearrrrrr – bonds, governmental and NFP. So ready to be done with this!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Rocky123]

I think I fear all of it equally! LOl

Actually, what I fear is getting a SIM out of left field that I have NO CLUE on how to answer. Like something on derivatives or hedging. Ugh.

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[mb0363]

Been slowly working through Chapter ten today….. this chapter sure does a good job at loosing my attention.

BEC - PASS
AUDIT - PASS
REG - PASS
FAR - PASS

[Anonymous]

Not necessarily in this order, but these are the areas I will drill until test day (I have a feeling they will be heavily tested):

IFRS

NFP

GOVT

BONDS

Good luck to everyone sitting this month.

[Mehwish]

^ no leases?

[Anonymous]

No. Not going to focus on leases. I'll do a few questions as they come up in the test bank, but not going to stress them. Praying my strategy pays off.

[Anonymous]

Currently studying for FAR and I'm super stressed! I'm sitting on Nov 22 and if I don't pass then I lose AUD! If I pass then I'm done! This is my second time sitting for FAR. I bombed the first go around. I still don't feel prepared and I don't know what to do.

Needed to vent to people who understand as opposed to my husband who is pretty much “over it”

[Gabe]

Pal Corp.'s 20X1 dividend income included only part of the dividend received from its Ima Corp. investment. The balance of the dividend reduced Pal's carrying amount for its Ima investment. This reflects that Pal accounts for its Ima investment by the:

A.

cost method, and only a portion of Ima's 20X1 dividends represent earnings after Pal's acquisition.

B.

cost method, and its carrying amount exceeded the proportionate share of Ima's market value.

C.

equity method, and Ima incurred a loss in 20X1.

D.

equity method, and its carrying amount exceeded the proportionate share of Ima's market value

The answer explains that the Cost method is correct because in the Cost method dividends reduce your investment. I thought that was the Equity method…Anyone? (Answer is A)

CPA, CFE
CISA- Experience will be completed by August 2016

[Gabe]

@ebimbo you'll get it! Just keep pushing forward and think of how AWESOME it is going to feel when you are DONE.

I'm sitting on the 22nd too! You using Becker? CPAexcel? Ninja? Unfortunately, I don't think you'll ever feel prepared for FAR.

CPA, CFE
CISA- Experience will be completed by August 2016

[Author]

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