[Anonymous]

The rules for exchanges lacking commercial substance are driving me crazy. How do u guys memorize the rules. They are so confusing. I always mix up which rule to use when.

Can anyone please suggest a way to learn the rules.

Thanks in advance!!

[Forte Freeze]

Well your not alone that's for sure.

Did the usual perusal on internet to see if I could help my self to a concise explanation.

Ended up at FASB website reading Fasb 153-9 A9 where it states, a number of respondents found it difficult to apply guidance for evaluating commercial substance..

I've got nothing more as I continue to prepare for FAR on 10/4/14.

4/13/14 BEC - 76!
11/29/14 AUD - (74) 79!
11/28/15 REG - 8/30/15 (72)4/1/15(68)
7/1/15 FAR - (70)(71) 77!

Persistence
Determination
Forte

[Author]

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