[MI-CPA]

Hello, i am studying for FAR and seem to be getting stuck on Leases and Bonds. I am using Becker and on Progress test am getting around 66%. Does anyone have any tips or advice how to nail the leases and bonds information? Thanks!

AUD (11) & FAR (10) = 89
BEC (10) & REG (11) = 78
Ethics here I come!
I am a CPA!

[Sam2k]

Do you know where, specifically, you are running into problems? Obviously, present value is a common and very important part of both Leases and Bonds, so if you don't nail that you'll never be able to get the questions.

FAR - 98; AUD - 94; REG - 95; BEC - Waiting;
Becker Scholarship for Success (I got it free :))

[MI-CPA]

Mainly the darn amortization and sales-type, leaseback type of stuff. I am good with PV calc's.

AUD (11) & FAR (10) = 89
BEC (10) & REG (11) = 78
Ethics here I come!
I am a CPA!

[PleasePass]

well with the sale leaseback I think the main thing to realize is whether or not you are deferring any gains or recognizing them immediately. With that said, I know Becker did a pretty good job with explaining whether the leaseback was for a “minor”, “middle”, or “major” portion of the entire lease. With minor portions you do not defer any gains, however with middle you defer the gain up to the value of of the leaseback and with Major,all gains are deferred. Does that make sense? or was it something else regarding leasebacks?

FAR (10/15/10) = 94
AUD (11/24/10) = 89
BEC (5/20/11) = 87
REG (8/23/11) = 78

[FARSUXCPA]

For PV if you pay now you use PV of annuity due factor. If you pay a year from now use PV of annuity factor without the due.

For amort, if you own a house, think of it as fixed mortgage… in the beginning your mortgage payment represents mostly interest and less is applied to principal but then gradually less goes to interest and more is applied to principal.

Hope this helps.

DONE!

[Author]

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