@Path to CPA, Lady in Red, to_be_a_CPA, bjo………………up to page 34 of FAR ninja notes and already discouraged and have no clue how im going to get through this info, and master it before 11/30… let the stress begin
@bamer I mostly just watch videos and do infinite multiple choice (not so much sims), and I generally score around 70% on wiley test bank.
On REG (The one I've passed) I was getting closer to 75-80%.
I think you may be fine. I often feel like “what else can I possibly do?” I know it sounds bad, but there's no way I'd watch every video again. I tend to stick to areas I struggle in. Trying to do that more this time around and nail down Govt/Non Profit as I was only 1 point short before.
Quick Question! I have my exam tomorrow and I cant figure out if Bond Issue Costs come into play when figuring out the interest expense if the bond uses the effective interest rate. Does the carrying value include the reduction of Bond Issue Costs or is that ignored and ammortized on its own?
My gut tells me that when doing the Eff Int the bond issue costs should be ignored and ammortized straight line but I also know that when doing straight like ammortization the bond issue costs are a factor is determining the Gain or Loss on the extinguishment of bonds…. this is where my confusion stems. Any quick Thoughts?
@goods4188 Carrying value is the face amount of the bond net of discount or premium. So when a question asks what it's “reported at” it's the face net of disc/prem.
@ Splinter, Yea, i just got done doing two full practice exams and am feeling really good right now. I got my exam tomorrow.
Thanks for confirming Jsmi77y.
I got a 80-85% on the two exams but when i went over the sims i actually got stuff correct that they said was wrong because i didnt put the journal entries in the same order as them. Like instead of putting cash then accumulated depre (both debits because it was a non mnetary exchange lacking commercial substance) I put accum then cash. I mean that is correct but just in a different order, i hope the exam doesnt grade like that.
@Goods4188 good luck! Jsmi77y was correct in answering. The BIC only come into play when determining the Net Proceeds. The J/E is DR to Deferred Expense – Bond issue costs and CR Cash (net against cash received for Bond).
A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*
I just got my NTS for FAR, I was hoping you all could help me in determining when to schedule. I will start studying on December 10, I was thinking Feb 2. I have year-end the first 2 weeks of January and doubt I will get a lot of quality study time in. Do you think 8 weeks is good? Or over kill?
Thanks!
A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!
Finally done!
This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!
I just did the practice final exam with the Becker Review Material. Wow I did not do too well. I am going back to see and review what I did wrong. Oh my, I will still take my exam tomorrow and hope that I can correct my mistakes. I have been reviewing all week(took a weeks vacation from work) and doing okay on my quizzes, but I need a 75 to pass and I did not get it on the practice exam so…… I may be taking this puppy again. =(. I will give it my best shot tomorrow.
The mistakes I made on the practice exam are not as bad as I thought. I need to watch my dates and understand what the question is asking me. My calculations where there. I know I would still get these questions wrong on the real exam but at least I can work on that. If I totally missed the mark by having to learn a new concept, I know I could not do that by tomorrow.
I review the SIMs as well and the program counted some JEs wrong that were not wrong (not in the same order they have). It did not make a huge difference but it was not wrong. I reviewed and reminded myself of a few concepts and now I am going to continue taking progress tests. I also want to review a practice SIM I have for NFP. I hear we need to be ready for more governmental and NFP questions. This section has so much information! Whew!
@stokey: I'm taking the exam tomorrow too! Good luck with yours. Unfortunately, my mistakes are mostly conceptual (still have quite a few weak areas), so I'm hoping that the combination of questions I'll get tomorrow play to my strengths and not my weaknesses. I'm already planning a retake for Jan/Feb, lol
OMG study EVERYTHING. Seriously. Hopefully I find out that I BARELY passed this exam while on my honeymoon. Otherwise, I may have to drown my FAR sorrows with some belizean beers! Waking up at 3:00 AM tomorrow for my flight to Belize. See you all on the other side!
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