Important Inventory Topics for FAR

  • Creator
    Topic
  • #196286
    shanek327
    Participant

    Hi all who have taken FAR,

    How would you prioritize your study in inventory. It’s such a broad topic. What is the MUST know material in inventory?

    FAR - 75
    AUD - 78
    BEC - 82
    REG - 77

    2 Corinthians 5:21

    Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

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  • #687850
    shanek327
    Participant

    bump due to the fact that I'm reviewing this chapter today and I'm testing in 8 days lol

    FAR - 75
    AUD - 78
    BEC - 82
    REG - 77

    2 Corinthians 5:21

    Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

    #687851

    Know how to calculate moving average, perpetual & periodic FIFO, dollar value LIFO. Know the concept behind which method gives a highest.lowest net income, COGS, ending inventory. Also know your Lower of Cost or Market Inventory (both GAAP & IFRS method)

    BEC - 76 (1/24/15)
    REG - 82 (4/13/15)
    AUD - 89 (5/31/15)
    FAR - 78 (8/16/15)

    Starting right now I'll be strong
    I'll play my fight song
    And I don't really care if nobody else believes
    'Cause I've still got a lot of fight left in me

    #687852
    Kls238
    Member

    I know the answer might be “all is fair game, so know it all,” but anyone know how important the index of Ch4 Becker material is? Is it skip-able?

    Passed all sections.

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