[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

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

[xwingdingx]

Just took the test. I found it reasonable with a few out of nowhere questions. I know I definitely got a few wrong where I just guessed the answers. Some I was able to narrow down to 2 choices and go from there. Luckily no AMT questions 🙂 A lot of itemized deductions, CPA responsibilities, partnership taxation and secured transactions questions. I am hoping I got enough to get a 75!!

AUD 6/24/11- 76
BEC 11/23/11 - 79
FAR 11/26/12 - 76
REG 1/14/12 - 82

[Anonymous]

best of luck to ya! sounds like you passed! how were the simulations? I take my exam on wednesday…I've been doing nothing but the Becker homework questions over and over…

[Anonymous]

I have quick question.

Took Reg last week. In research question I found the right code in last 10 sec. I put right code in fist 2 box and the subsection i got wrong. instead of putting D i end up putting A. But my fist two box are 100% right. Do i still gat some point for this question? And how much is this question worth? SOme people say 1point some people say 6 point and some people say 8 Point. Please some tell me the correct answer for this questions. My exam went ok since it was some what accepted and sim are crazy but doable.

[momof4]

I know there are a few of us here holding our breath for the score release. I really wish they had not changed the score mix to 60/40. That 10 extra percent on the great unknown of simulations is painful.

BEC 84
FAR 80
AUD 85
REG 78

[Phoenixface]

How has others kept track of the tax rules? Especially, when to recognize gain for things and what goes into basis for corps, SH, gift tax etc..

[xwingdingx]

@phoenixface you just have to keep doing the hw. I read the chapter, watched the video and then did the hw to ensure i mastered the concepts. It's frequently tested on the exam. The pass keys and examples in becker are pretty helpful

AUD 6/24/11- 76
BEC 11/23/11 - 79
FAR 11/26/12 - 76
REG 1/14/12 - 82

[jdj017400]

Can anyone please help with clarification of a Becker R6 topic/question relating to Rights of Default for Secured Transactions:

On Becker (2011) page R6-46, it states (in the ancillary material) the “Compulsory Disposition of Consumer Goods 60% Rule”, where in a consumer goods case where the debtor has paid at least 60% of the “LOAN”, the secured party must sell the collateral within 90 days.

I bring attention to Becker's use of the word “loan” above. Because in some of the passmaster questions they state something like “Drew paid $2,000 in cash and signed a security agreement for the balance” …and then test on this 60% rule, whereby the answer explanations state “Where a debtor has paid more than 60% of the “PRICE”….”.

There is a big difference between “more than 60%” of the loan vs. the price.

Can anyone comment on this (sorry for such a long post)?

BEC - 80 (11/30/2010), Lost Credit - Retake 11/30/2012, 80 (FINISHED!)
AUD - 71 (05/31/2011), 79 (08/28/2011)
REG - 70 (11/30/2011), 87 (02/09/2012)
FAR - 61 (5/31/2012), 80 (08/31/2012)

[yankeeaccountant]

I am on R2 and moving along. My thought is to nail all the tax info and hope that the B-law just seeps in somehow!!!

@jdj017400

That is a good question. I haven't gotten that far yet, but I would think that the issue would relate to the price. Let us know what you come up with!

[Veronica75]

yankee – when is REG for you?

I just finished chapter 3. I agree with you – I'm focusing on the tax chapters first, mainly because I'm attending a final review course this weekend. I don't know if you've studied for REG before, but don't underestimate the business law. I recall from my studies a few months ago that it wasn't a walk in the park.

Funny. When I first started studying, the business entities (LLP, LLC, etc) were tested in BEC. You know what that tells me? I've been studying too damn long!!!! I have topics following me from one exam to another! haha!

FAR - 79 (2x)
AUD - 81 (expired), 77!
REG - 74! omg (3x) 87!!!!!!! I'm done! OMG!
BEC - 81 (4x)

[yankeeaccountant]

Veronica

Good idea to do the final review. I heard those are great. I am pretty much in your shoes, I started this in August of 2010, so I remember the BEC exam from way back when 🙂

I have taken REG before, so I won't discount B-law, I just want to really focus on tax since all the sims relate to it. At least, that has been my experience. So far so good. I just have to get thru R3. I will move onto Wiley when I finish the Becker q's. What is the rest of your game plan?

I sit on 2/14.

[Veronica75]

I decided to skip the videos this time around and read each chapter and take notes. Then I do all the Becker homework before going on to the next chapter. I just finished chapter 3. Ideally, I would have liked to have finished all the homework before class this weekend, but it just didn't happen. I'm hoping a lot of it comes back to me at class on Sunday and when I get back to Austin, I'll continue in the becker book where I left off. I also like the final review book they give us at class…

I also bought the Wiley test bank which I've never used before. I feel that I start memorizing the Becker questions and needed another bank of MCQ to practice in the last couple weeks of Feb. I sit on the 27th.

Are you using Becker 2011? There are so many updates to the material! Ugh! I know they said we should be safe with 2011 material, but it's still making me uneasy.

FAR - 79 (2x)
AUD - 81 (expired), 77!
REG - 74! omg (3x) 87!!!!!!! I'm done! OMG!
BEC - 81 (4x)

[yankeeaccountant]

@veronica

I haven't even looked at the updates for Becker. Thanks for mentioning it. I just took it for granted that there wasn't anything material..especially after reading Jeff's post.

How was the live Final Review?

I am almost done with R4, should be able to finish it tomorrow and maybe knock out R5 too. Once I am done with Becker I will move to Wiley. I haven't listened to the lectures this time either. I am trying to review my notes each day, gosh I just want to pass!!!

Have a great week!

[Veronica75]

@yankee – final review was good! I felt the tax portion was more helpful than the business law. The law part just makes me want to fall asleep. I need to finish re-reading my chapters, work all the questions, then I'm going to review from the final review material only. It's nice because it summarizes everything even more.

I don't know how important all the updates are, but in some cases, there is “new” material added. I plan to print the updates out and at least read the additional material once. There is so much in REG, kind of like FAR… I feel it's impossible to know it all in great detail.

FAR - 79 (2x)
AUD - 81 (expired), 77!
REG - 74! omg (3x) 87!!!!!!! I'm done! OMG!
BEC - 81 (4x)

[Anonymous]

question for you guys on reg (2011 vs 2010):

So I am using the Becker 2011 book for my Reg studying. In the individual taxation chapters it says that dividends were taxed at a lower rate, 15%, during 2010, however starting in 2011 they are going to be taxed at your normal rate. Fast forward to Corporate taxation under the accumulated earnings tax method – it says that earnings that should have been paid out by the Corporation that weren't are taxed an additional 15%. The way this was explained in the lecture was: basically had the Corporation issued their excess earnings as dividends, the individual taxpayers would have been paying that 15% of tax,but since they did not, the gov't is still going to collect that 15%, but from the Corporation instead.

my question is: is this 15% tax rate on the corporation still correct for 2011?

thanks for your help!

[jamesblunt69]

Yes, 15% is still correct.

[Author]

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