[Rocky123]

What are your weaknesses in FAR? How are you combating this?

My weakness is BY FAR bonds. I can’t seem to get past them. Right now I’m focusing on other areas and will get back to bonds evenutally. But it would be a great self esteem booster if I could master them.

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[Determined CPA]

Do little progress tests and just include that chapter and any other chapters you are finding difficult and within a few days you will feel more confident!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[MattCPA18]

Bonds were giving me a lot of trouble too….I posted a few weeks ago about that and a lot of people told me to keep practicing making up the amortization schedules…..So I did that and it helped a lot. If you know how to make up the amortization schedule you will understand bonds a whole lot more. I take FAR in two days so I'm grinding it out

AUD – 83

REG – 84

BEC – 82

FAR – 10/10/14

[Rocky123]

@Matt

Good luck to you on Friday!!

I'll bite the bullet and attack bonds on Saturday when I can set aside specifc time for it. I will need to devote my full attention to it. I hope the questions about bonds on the exam aren't as tricky as the Becker material.

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[MattCPA18]

@Rocky123

My biggest tip for bonds is knowing the difference between the straight line method and effective interest method.

For the effective interest method:

carrying amount x effective interest rate = interest expense

Face amount of bond x stated coupon rate = the amount of interest paid

the difference between the two is the amortization of the premium or discount

Knowing the amortization inside and out will help you with this

and of course memorize the journal entrees!!

..me just typing that out is good review for me lol

[Juliemiddle]

Another Bond Tip…

->Bond Interest PAYMENT is always the same

->Bond Interest EXPENSE always changes

->The difference between Pmt. and Expense = amortization amount of Premium or Discount for the period.

If you figure out the PV of Future cash flows at the very beginning and remember pmt. vs. expense…that's most of the battle!

As for me, I'm battling pensions.

AUD: 84 - Oct. 2013
BEC: 83 - Feb. 2014
REG: 91 - May, 2014
FAR: 68, 96 - Oct. 2014...DONE

CPAExcel, Ninja Audio (all sections)

[Rocky123]

@Julie

That's ironic. I had no problem with pensions. Goes to show that we all have different strengths and weaknesses.

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[nicole2035]

i know everyone hates sims, but do a simulation on them. i swear it'll help.

contract method, and DEPS and EPS used to make me sweat. not anymore after doing 2 sims on them.

the key to the sims is just to do what you know or feel right, submit, then get the right answers and learn what you did wrong. I think even just looking at the solution for Sims helps because it shows everything from the calculation to the journal entry, usually

[Rocky123]

@Nicole

Thanks. SIMS are definitely in the study plan.

Shareholder's Equity…ugh…my next weakest area. Not impossible though. Just need to spend more time on it. It's coming together with repetition.

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[Author]

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