[rbcpa]

I took FAR on Dec 5th and got a 65. My BEC score expires on FEB 20th and I am taking FAR on the 12th of FEB. I am still not feeling comfortable with journal entries and the material how do I learn the material well? I wont be working so any tips are appreciated. 🙂

BEC - PASSED
AUD - PASSED
REG - PASSED
FAR - PASSED

[jeff]

Curious why you paused the capitalization for “at” … is this a secret code? 🙂

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

[MintsRGood]

WHY ARE WE YELLING AGAIN? MY EARS HURT.

REG: 75 DONE 🙂
AUD: 61, 71, 68, 92 DONE 🙂
BEC: 76 DONE 🙂
FAR: 72, 74, 79 DONE 🙂
Licensed Michigan CPA 🙂
-Some people dream of success...others wake up and work hard for it!!!
-The cowards never start and the weak die along the way!
-You better work, b***h!
-Only those who dare to fail greatly can ever achieve greatly.-JFK

[MintsRGood]

WHY ARE WE YELLING AGAIN? MY EARS HURT.

REG: 75 DONE 🙂
AUD: 61, 71, 68, 92 DONE 🙂
BEC: 76 DONE 🙂
FAR: 72, 74, 79 DONE 🙂
Licensed Michigan CPA 🙂
-Some people dream of success...others wake up and work hard for it!!!
-The cowards never start and the weak die along the way!
-You better work, b***h!
-Only those who dare to fail greatly can ever achieve greatly.-JFK

[rbcpa]

@Jeff – I didnt even realize I wrote it in all caps until now. lol whoops!!

Anyways, thank you all for your suggestion. I will work on understanding the journal entries and simulations. Hopefully I can slay this beast and be done with all four exams within my 18 month window.

BEC - PASSED
AUD - PASSED
REG - PASSED
FAR - PASSED

[rbcpa]

@Jeff – I didnt even realize I wrote it in all caps until now. lol whoops!!

Anyways, thank you all for your suggestion. I will work on understanding the journal entries and simulations. Hopefully I can slay this beast and be done with all four exams within my 18 month window.

BEC - PASSED
AUD - PASSED
REG - PASSED
FAR - PASSED

[fiona87]

I use the mnemonic “Die In A fire, DIE” (Debits Increase Assets, Debits Increase Expenses) to remember which way things go. If I can keep those two straight, the rest falls in to place. 😛

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[fiona87]

I use the mnemonic “Die In A fire, DIE” (Debits Increase Assets, Debits Increase Expenses) to remember which way things go. If I can keep those two straight, the rest falls in to place. 😛

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[Study Monk]

What happened to the A=L + E equation for figuring out journal entries? Increases to assets are debits and increases to liabilities and equity accounts are credits.

That being said I just came up with this one:)

LEGO or

LE=GO

Losses and Expenses(debits)= Gains and Oh yah!Revenue!(Credits) 😛

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

What happened to the A=L + E equation for figuring out journal entries? Increases to assets are debits and increases to liabilities and equity accounts are credits.

That being said I just came up with this one:)

LEGO or

LE=GO

Losses and Expenses(debits)= Gains and Oh yah!Revenue!(Credits) 😛

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[stoleway]

I use DEALOR

DEA=LOR

Debit

Depreciation

Expense

Assets

Credit

Liability

Owners Equity

Revenue

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

I use DEALOR

DEA=LOR

Debit

Depreciation

Expense

Assets

Credit

Liability

Owners Equity

Revenue

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[seattleacct]

Seriously, t-accounts.

The actual JEs are easy if you know how to post to t-accounts.

If you can remember that Expenses are debits, then the rest is easy using deduction. Why? Well because if you have an expense (DR), then the other entry is probably to cash or A/P, which must be a credit. So this tells you that A/P and other liabilities usually hold credit balances until they're paid.

This means that if Cash comes in, instead of going out, it is a Debit, which probably means that you will be crediting income or the A/R account (which means A/R was already holding a debit balance). If income has a credit balance (opposite of expense), then A/R holds a debit balance.

Post the DR's and CR's to the t-accounts for a visual, then just take those items and make a JE.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

Seriously, t-accounts.

The actual JEs are easy if you know how to post to t-accounts.

If you can remember that Expenses are debits, then the rest is easy using deduction. Why? Well because if you have an expense (DR), then the other entry is probably to cash or A/P, which must be a credit. So this tells you that A/P and other liabilities usually hold credit balances until they're paid.

This means that if Cash comes in, instead of going out, it is a Debit, which probably means that you will be crediting income or the A/R account (which means A/R was already holding a debit balance). If income has a credit balance (opposite of expense), then A/R holds a debit balance.

Post the DR's and CR's to the t-accounts for a visual, then just take those items and make a JE.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Author]

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