[Matman4593]

Hi guys,

I use Roger CPA and just did a TBS on preparing a Statement of Cash Flows. Though I got the correct adjustment names, amounts, and properly classified them under operating, investing, and financing, the question was marked incorrect because the order I presented the adjustments for Operating Activity did not match the order used in the question bank.

My question is is there a correct order to list these adjustments to Operating income (changes in AR, changes in AP, depreciation, etc) that will dictate my score on a similar TBS on the exam? or is this just a flaw in Roger’s software.

Thanks in advance!

[Recked]

The SIMs are flawed in Roger's system.
Back when I was using that course, if you got one item wrong, it marked the whole SIM wrong.
Not sure if they upgraded the way things are scored, but it was a huge issue for me (and my confidence).
That's one of the reasons I stopped doing Mock exams using Roger's software.

[Matman4593]

I've definitely come to realize that while Roger's lectures and books are great for my learning methods, the TBSs leave a lot to be desired.

In this particular case though, is there a specific way to list non-cash rev/exp, non-operating rev/exp Gain/loss, and changes in Balance Sheet accounts? Like an order?

Or am I reading too much into this and Roger's system is just flawed… I have a few days left before my exam and would obviously spend the time memorizing the order to avoid losing points on a potential SIM.

Also, do you have any recommendations for other Mock Exams to use? If Roger's are as flawed as they seem, I obviously want to use the best and most relevant questions I can find. I did the AICPA practice test, but they don't really include many questions — just seems like a way to familiarize yourself with the software they use.

Thanks in advance

[animalwithin]

From what I understand, Roger's SIMS are not properly formatted with regards to scoring.

[Gator]

I don't know how an Exam TBS would be scored. I'm utilizing Roger and my exam date is next week.
Hope this can be of some help.

The following is the format w/ examples for Operating Activities:

Net Income/Loss

Non-cash items
Depreciation expense
Amortization expense
Depletion expense
Gains or Losses from sale of assets
Losses from accounts receivable

Current Assets
Accounts receivable
Inventory
Prepaid expenses
Receivables from employees and owners

Current Liabilities
Accounts payable
Accrued expenses

Net cash provided (used) by operating activities

GOOD LUCK!

[inviteyou]

I just now realized I should've posted my question here about statement of cash flows. I'm having a hard time grasping the concept of noncash transactions. For example, I have in my head when a company issues stock they receive cash. If they take that cash and retire long term debt or purchase an asset, why wouldn't they still report the cash received from the issuance of stock in the financing portion?

[Author]

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