[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

[TripleNetAcct]

Wiley Test Bank has got me confused. Does Rule 504 under Regulation D permit the use of general solicitation? One answer said it does and 10 questions later is doesn't. :/

AUD 73 (Aug 12) 77
BEC 66 71 (Nov 12) 80
REG 54 81 (May 13) 81
FAR 63 (Dec 13) 75 TEXAS

[wendywhite]

what question says it doesn't?

“Under rule D – general solicitation is generally prohibited.” It is intended for private offerings.

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

[TripleNetAcct]

“Regulation D establishes three important exemptions in Rules 504, 505, and 506 under the 1933 Act

(1) Rule 504 exempts an issuance of securities up to $1,000,000 sold in twelve-month period to any number of investors (this is also known as seed capital exemption)

(a) General offering and solicitations are permitted under Rule 504

(b) Issuer need not restrict purchasers’ right to resell securities

(c) No specific disclosure is required

(d) Must send notice of offering to SEC within fifteen days of first sale of securities”

I hope I do not get in trouble for copying that but it was merely to show you that I am not crazy.

AUD 73 (Aug 12) 77
BEC 66 71 (Nov 12) 80
REG 54 81 (May 13) 81
FAR 63 (Dec 13) 75 TEXAS

[MCLKT]

TripleNet, thank you! I got so frustrated with that, and the explanations on the two questions is just mind boggling. But I figured in the grand scheme of the exam, it wasn't important enough to worry about.

The text says General Offering and Solicitation is not permitted in Regulation D Rule 505 within 12 month period.

But is permitted rule 504, if for accredited investors.

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

[TripleNetAcct]

@MCLKT – Thank you for posting your response. I thought that maybe I had done so many MCQs that I was squeezing words together or going crazy, one of the two. And also, thanks for posting your little basis table.

Best of luck with your studies everyone…I am sure I will have more questions between now and Saturday at Noon. Taking the day off from work tomorrow to cram and get some MCQs logged. Starting to feel the rythm!

Hiya!

AUD 73 (Aug 12) 77
BEC 66 71 (Nov 12) 80
REG 54 81 (May 13) 81
FAR 63 (Dec 13) 75 TEXAS

[Myeble]

JUST AS AN FYI for those that are taking REG after July 2013:

• Reg D Rule 506: NOW permitted for solicitation and advertising!!!!

BE CAREFULL…

[SeattleAccountant]

It is not a Power weekend, yet but right now 3 am in the morning mind you and I'm still working on tax stuff getting around 80% but remaining 20% that were missed are so gross that i'm completely disgusted with myself for making them.

🙁 Sitting here, starring at another simulation and thinking that when is it going to end, I will be much very much more happier person than now 🙁

So hopping to pass this exam and move on to BEC and finally, to move on with my life!

14 more days left till REG.

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[Mike1987]

Im taking my test on the same day Seattle. I pray I can pass and move on, however for me it will be FAR :(. I think it will really come down to my luck on the Sims, just hoping I do not get something like a 4797 to fill out. Btw, do you think 6/1 to 8/31 is enough time for FAR?

[MCLKT]

Mike, I think your dates are enough time for FAR if anything, too much time. There is so much info, if you spread it out too long you will start to forget stuff from the beginning. I think 10 maybe 12 weeks max. IF you spend the last 2 weeks working MCQ and SIMS like there is no tomorrow.

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

[MCLKT]

Seattle!!! It will all be over soon enough. We will be singing the praises of BEC and then celebrating our CPA this summer 🙂

Good looking out Myeble – I think there was an additional restriction for the rule 506 though, isn't there? Like only a certain type of investor or something?

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

[wendywhite]

did a phone interview this morning for the controller position that opened in our company – it went very well and I have another interview monday.

good luck to all still studying for reg.

the corp controller I interviewed with said she had to take reg 3 times.

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

[Mike1987]

You are probably right MCLKT, so it should work out as I will be traveling a lot for work. For REG I've been studying for almost 3 months and it is starting to feel like I need to take it or I will forget it. I can't wait to do a memory dump on the test…I am currently going through all the Becker HW for the 4th time. So I will probably still have to do it 1 more time after this.

[mrspanda11]

Hi everyone. I'm taking the exam at the end of May. Do you think the test will be based on the amounts for 2013 or do you think the test will cover amounts from 2012? For example, gift tax exclusion of $14,000 (2013) vs $13,000 (2012). How about unified credit – should I even bother? If so, amounts from which year should I remember?

Section 179 – the questions I've done do not cover the bonus depreciation for 2013.

Thanks!

[KellyP]

@MCLKT @wendywhite Thank you all for your responses! Reg is such a beast, for me the memorization in Reg is worse than BEC and with less than 2 weeks to go I'm starting to freak out a little, but at least the videos are done 🙂

AUD - 80
BEC - 83
FAR - 87
REG - 65, 77 5/28/13

*Good-bye Social Life. . .Hello CPA*

[SeattleAccountant]

@Mike & MCKLT, thank you guys, can't wait for this to be over!

I like tax but feel stressed imagining of how REG sims could be easily beastly and the exam is only 3 hours and that keeps me awake lately.

@Mike, sounds like a solid plan for FAR provided that you complete all including sims on the first round and come back and rework MCQ + messed up sims on the second round during those last two weeks.

About FAR sims. On my actual exam I found them to be very decent unlike MCQ that kept asking most random “unimportant” nonissues and deprived me of opportunity to prove myself with calculation ones! Seriously, I felt both over prepared with complex stuff/JEs and underprepared with things that were never much emphasized in the review or accounting courses or day-day corporate accounting. Do expect twist & turns though on the sims that can be dealt with by careful reviewing of what exactly question asks. Read sim question/s first and only then read the given info. It speeds up cognitive process and helps to extract info that is needed to answer that question. Review sims by quickly working out JEs on the board by hand to verify that dr and cr do make sense.

Good luck to you & all of us here!

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[Author]

Replies