FAR Study Group Q4 2016 - Page 2

  • Creator
    Topic
  • #836137
    jeff
    Keymaster

    Welcome to the Q4 2016 CPA Exam Study Group for FAR.

    If this is your first post in the study group – please post your target exam date (just the time frame to preserve your anonymity), and your past history with this exam (optional, of course).

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

Viewing 15 replies - 16 through 30 (of 799 total)
  • Author
    Replies
  • #838405
    Determined One
    Participant

    FAR exam in late November. Using Roger CPA Review.

    Shocked by the number of concepts in this section. Looks like life as I know it is ending and the nightmare begins.

    Anyone else using Roger?

    #838414
    Anonymous
    Inactive

    Hi All.

    Sitting for FAR, first time, mid-late October. Really struggling to get through all the material. I also made it through college without ever really grasping debits/credits.

    Any suggestions for really drilling home and comprehending the journal entries and reasoning behind them?

    #838549
    alacct2010
    Participant

    Hi everyone,
    Very discouraged at this point. Exam in 12 days and I can't bump my Becker score. Currently staying in mid 40.
    Working full time and family. Very little time to study during week. However out 12 hours each Saturday and Sunday. Any ideas on how to increase score in less than 2 weeks?
    For the first timers, what are your scores on Becker?
    Thanks

    #838654
    FabCPA
    Participant

    Hi all!

    This is my first attempt at FAR; however, I've passed the other 3 exams so far – BEC took me 3 tries!!! Scheduled my exam for Nov 1st so I can nail it on the first try – otherwise I'm gonna have to retake FAR and REG as it expires in Nov too. We got this!!!!

    #838897
    happygal
    Participant

    the education unlocked youtube videos really helped me understand debits/credits and journal entries better.

    #839281
    khuemm11
    Participant

    Don't get discouraged with 12 days left still – that's so much!

    My biggest study days for Becker were the 2 weeks of review. If you have time during the last two weeks – weekends are crucial – I skim though each chapter individually and use the comprehensive progress test but only select the 1 chapter I just skimmed. Then I get a good mix of questions throughout the chapter. Once I got through all the chapters with this method I'd do all chapter comprehensive progress tests and then work on areas that I still struggled on.

    After that I'd take the practice exams.

    My biggest piece of advice is try to skim through each chapter a second time with Becker. Things always make more sense and things start to click. If you only went through the chapter once during the lectures this is not enough! And don't get discouraged about time – these skim throughs don't take as long as actually completing a chapter.

    Hope this helps!

    #841206
    Muhammad
    Participant

    Ninja MCQ very difficult compared with Wiley MCQ

    #841644
    emichelle2321
    Participant

    I just started F2 this week, figuring this would be one of the chapters that would be easier to “click” for me. Started working on the MCQ and what the hell!? these are so much more in depth and different about examples from the lecture and book (I am using Becker). Is anyone else experiencing this and is this something I should freak out about??? Help!

    Also – is it a waste of time if I have Becker to look at MCQ outside of Becker? This is my first section and I am feeling so overwhelmed.

    Thanks!

    #841806
    moniquedarice
    Participant

    Hi Jem242

    I am currently using Becker and Ninja Notes. What are your thoughts on the Becker program?
    Monique

    #842355
    thebigguy1992
    Participant

    i am a little confused about one equity method journal entry. so say Rea paid 150,000 in dividends, and well owns 10% of Rea's shares but is a majority on their board so the equity method is used. that means the J/E is:

    Cash 15,000
    investment in sub 15,000

    why is the credit called a “return of capital”? isn't that a reduction of capital since its a credit?

    #842358
    thebigguy1992
    Participant

    or does it mean literally returning your capital so it is reducing it. i think the wording may be tripping me up?

    #842622
    Kemi22
    Participant

    Spartans92, thanks for your response. We will capitalize it as an intangible asset (no amortization) unless our auditors think otherwise. It is an ancillary domain name (meaning when you click on it you will get redirected to our main website) so it's not really for generating sales or business use.

    Good luck with FAR! I took it many times before passing finally and all I can say is practice, practice, practice. But you know that already. 🙂

    2010:
    BEC: 74, 71, 74, 75
    AUD: 71, 74, 83
    REG: 71, 76
    FAR: (I quit) 34, 45

    2015:
    BEC: 79
    AUD: 78
    REG: 67, 76
    FAR: 56 (trial run), 74, 74, 74, 80!
    Thank God. Your prayers are always answered! Do not give up. Thank you St. Joseph Cupertino.

    #842661
    Claudia408
    Participant

    Operation – did you get answer about the gain for commercial substance?

    I think you are right about recognizing gain when boot is RECEIVED, but not sure about PAID.

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

    #842958
    jem242
    Participant

    @moniquedarice I use becker, but I like the Ninja notes and MCQs better. I use Becker to Nail the concepts. Then I use the notes and MCQs for review. I will go back to Becker's MCQs, but I just found the Ninja MCQs to be better for me right now. I have not taken a test yet, so maybe my views will change.

    #843153
    emichelle2321
    Participant

    Does anyone else here find it helpful to review the book and make your own (written by hand) notes on the key points in each chapter? It takes a ton of time but I find it to be helpful for remembering. Am I wasting my time??? Some of these lectures are basically just reading the page and I realized I wasn't comprehending some of this by sitting and highlighting random crap they tell me to highlight.

Viewing 15 replies - 16 through 30 (of 799 total)
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