[jeff]

Resources:

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Exam Experience: https://www.another71.com/cpa-exam-forum/topic/reg-exam-experience-official-thread

[Anonymous]

Hi Everyone,

So excited that I passed BEC that I can now focus on REG. I was a bit worried that I didn't pass so I haven't been focusing a lot on REG although I plan to sit in 22 days.

My concern is this. I have completed R5 – R7; lectures only and a few MCQs. I plan to finish R8 and do lots of MCQs and SIMs for R5 – R8 this weekend. After that I will move to the tax section which will be completely new since I didn't even do my undergraduate in the US.

Do you think it is doable to sit May 25 or should I push it? I don't think I can study more than 18 hours per week.

[Anonymous]

Smp73, at least the CIA will be alright and you dont have to wait more than minute of leaving the test room to get your preliminary results. You know while you there that you have made it or not. Remember clean sheet of paper = pass and sheet full of analysis means fail.

I enjoyed the CIA somehow, CPA is never-ending stress.

Congrats on CPA and good luck on CIA. Before you know it you will be going for something else this road is addictive even though we hate it.

Eli

[Anonymous]

I'm doing some Wiley sims, and it's saying that business property must be held for 12 months to qualify for 1231 loss treatment, and that otherwise it is an ordinary loss. That's not making sense to me, because don't you prefer your losses to be ordinary?

[Anonymous]

My test is tomorrow too btw, so it's a little late for me to be figuring this out!

[TAJCPA]

Congrats to all who passed. I am planning to be in your shoes in the next few weeks.

Good Luck to everyone else on your upcoming exam!

REG 5/13/2013

[smp73]

Thanks Eli! My job is strongly encouraging the CISA after the CIA but personally I want to do the CFE so we will see! The CPA will ge me a promotion!

Again good luck to everyone studying. The NINJA Audio and notes are what got me through this time. If you have the audio listen to them every chance you get. I helps tremendously.

NYS CPA License # 113563
CIA: Done as of 2/15/14

Training for a half marathon post studying!

[wendywhite]

i need clarification on a secured party question.

is filing the financing statement considered giving notice to creditors or does notice actually have to be sent to the creditors.

I'm talking about specifically requirements to perfect a PMSI for inventory.

Part of the text refers to filing with the state as effectively giving notice – but that is earlier and not specifically talking about the PMSIs for inventory…

FAR 11/2012: 80
AUD 2/19/2013: 90
REG 5/14/2013: 76
BEC 11/2013: 85
Ethics: 100
Waiting on the packet....

[Anonymous]

Hi Wendy. The PMSI in inventory requires separate notice other than filing. What confused me a bit is whether this notice was to non-PMSI or other PMSI in the same inventory (if this is possible?) Either way it seems like from the only Becker simulation on this subject matter that without the notice the PMSI is just a general non-PMSI that has perfected. So that is how I understand it now.

[ksettles]

@ChefBlake…no a corporation does not want its losses to be ordinary (Capital losses) because they are not deductible (an individual can deduct up to $3,000 a year). However, for the section 1231, it has 2 benefits. (1) If they are gains, it is only treated as ordinary gain to an extent (depending on if it's 1245 or 1250 property…for 1245 property the ordinary gain is the accumulated depreciation and the rest is capital gains.) Corporations do not generally have a lower tax rate (as individuals do) for capital gains, but in this case, the 1231 gain is 15% or 0% depending on circumstances.

Also, the 1231 losses can be deductible AGAINST ordinary income (which is not the case for other capital losses of a corporation).

Thus, those are the two benefits of section 1231 treatment…hope that helps.

FAR - 4/11/13 -- 85!!!! Thank you God!!
AUD - 4/24/13 -- 98 Wow! Praise God!
REG - 5/10/13 -- 89...yay!!!
BEC - 5/25/13 -- 87!!! Done! On to the ethics exam!

[Anonymous]

Has anyone heard from ChefBlake? I'm wondering how it went.

I started by reviewing my notes and re-doing the missed/marked questions from chapter 8. I slept 15 hours last night, but seem to be struggling with energy issues today. I asked hubby to bring back a 5 hour energy, hopefully that will get me going again.

I'm thinking of reviewing all business law first, hopefully this weekend, and then concentrating on tax stuff over the next week or so. Tax is my weakness, so I'll really need to hit that hard.

I'm going to make sure to get plenty of sleep again tonight. The last two days of this work week were absolute torture due to exhaustion. Hopefully I can get my sleep all caught up before Monday and get business law reviewed, too.

[MCLKT]

It is so great to see all of the passing scores!!!! Congrats Regulators.

LSNYC – Congratulations on getting the exam behind you. I can't wait until we are celebrating your passing score too 🙂

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[jeff]

https://www.youtube.com/watch?v=1plPyJdXKIY

[Anonymous]

Hi everyone. Quick question regarding section 12 and 17 of the 1933 Act and Section 18 of the 1934 Act; is it possible to sue for punitive damages? I know that for 10b-5 it is not possible. Thanks!

[Anonymous]

CPAexam2013, I'm not sure, but I think no. I see section 17 of the '33 law provides for criminal penalties. I would think there would be punitive damages with that, but I don't see them mentioned either there or with any of those that you mentioned. Since I'm not sure, I'm going to defer to others for a more firm answer.

I'm up and at 'em, planning on hitting it hard today. I've slept a ton and have my 5 hour energy at hand. Hoping to review all of the business law chapters today.

Go team!

[Stay_Positive]

Does anyone else start to feel nauseous after watching so many hours of video? I'm almost through 3 hours, and I can barely stand it. I want to get through 3 more hours today, but we'll see.

BEC - 69, 66, 78 (exp), 82
FAR - 69, 72, 66, 76
REG - 64, 66, 72, 80
AUD - 77
Ethics - 95
Waiting on License to be issued!!!

[Author]

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