[Bear-Bear]

I’m getting absolutely mauled here. Anyone else having a heck of a time? Just got a 68% on some practice MCQs. Reconciling Accrual to Cash, Operating/Investing/Financing Activities. Ugh.

[ohiostategirlcpa]

Learn the T-account method. Only system that works for me.

F91 A95 R90 B94
CMA since 2015
(Gleim books/PDFs, MCQs, SIMS)

[rosecpa]

Just pray that it's not one of your sims on the actual exam!

[acctaks]

Just pray? No, get practicing and nail it down. You're going to work with cash flows in real life so know how to do them. It's very important. If you work in public or private accounting you're going to see Excel based cash flows. I'm not quite sure why everyone is so scared of cash flow. Just question whether cash came in or left the entity and it will help. You're going from accrual to real life numbers

F-Pass
A-Pass
R-Pass
B-Pass

I'm a CPA!

[PleaseDontDeleteThanks]

Agreed…you need to know cash flows. Memorize if needed. If you're in audit, you'll eventually find some material errors at least some point in your career. If you're in industry, you don't want to be the one to make the error.

FAR 72, 89
BEC 80
REG 90
AUD 79

[rosecpa]

True, acctaks, you have to know it in real life. There are many things we are studying now that will be pertinent at some point in a CPAs career, but it would be easier not to do it under pressure. With that said, I do believe in conquering as many areas as possible before the exam day, rather than shoving them under the rug.

[MOAC]

Practice as much as you can. There are very good chances that you will get at least one if now two CFS in your exam. CFS is not hard at all. Concept is very simple. Money coming in vs going out!

FAR May 2012 81 (lost credit, didn't sit for other sections.)
FAR 86 Aug 2015
AUD 85 Nov 2015
BEC 84 Dec 2015
REG 78 Mar 2016

Passed ALL sections in first attempt!!

[Chris]

Keep it simple and try a balance sheet approach. The cash flow statement is going to go in order of your balance sheet and then liquidity (for GAAP). Operating activities are made up of current assets and liabilities. Investing activities are your non-current assets and liabilities. Financing activities are your capital transactions. If you can categorize the items accordingly, you'll generally be ok.

NH CPA
REG: 07/03/2014 - 88
AUD: 08/30/2014 - 73 - Retake 10/16/14 - 86
BEC: 05/31/2015 - 77
FAR: 08/08/2015 - 64 - Retake 11/23/15 - 77

Becker*NINJA Notes/MCQ*

Now I could let these dream killers kill my self-esteem
Or use my arrogance as the steam to power my dreams ~ Kanye West

[str6116]

Once you get used to it, it's really not too bad. I actually was hoping for a SCF sim because even though I highly doubt I'd get it all correct, I'm sure I would've gotten a good amount of partial credit

FAR-82 (7/27/15)
AUD-74 (8/31/15), 92 (1/4/16)
REG-65 (10/28/15), 70 (6/9/16), 80 (7/18/16)
BEC-86 (11/28/15)

DONE

...and that's all the people need to know.

[mystical guy]

Start by focusing only on the Indirect Method, first. It doesn't matter if it takes you a day or two, just focus on understanding what happens when various items either increase or decrease:

e.g. increase in receivables – that's a negative because we're not collecting cash.

Step 2: Understand the difference between Investing, Financing and Operating activities.

Step 3: Be comfortable with P&L and B/S

Final step, study the direct method.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[Author]

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