- This topic has 356 replies, 110 voices, and was last updated 7 years, 7 months ago by jeff.
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March 9, 2017 at 12:46 pm #1509588jeffKeymaster
Welcome to the Q2 2017 CPA Exam Study Group for REG. 🙂
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April 4, 2017 at 1:55 am #1528063MattParticipant
@thelatebloomer this is jogging my memories from corporate tax.
See it now? I might have missed it too. Lol almost gave bad advice, yea I would guess the bank, they were still owed five grand and the one were looking at was filed untimely.
FAR 74
April 4, 2017 at 9:41 am #1528135thelatebloomerParticipant@cpamatt: I guess because mortgages are filed at inception by nature, it's implied in the problem. Very tricky, considering the amount of mental steps you have to do on this problem to get down to an implied fact while the rest are explicit.
April 4, 2017 at 10:18 am #1528158MattParticipantYup, though I think both of us will get this one if it comes up again.
FAR 74
April 4, 2017 at 1:45 pm #1528384mtaylo24ParticipantAny Gleim people having issues with the research questions in the sim wizard? I can't select anything, had to take an L on my business combo chapter because I couldn't do the research 🙁
AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)April 4, 2017 at 2:35 pm #1528414Shaakira RyderParticipantHello,
I'm scheduled to take my REG exam 5/12. I just purchased the ninja material today. Where should I start with my study material? Should I start with ethics and work my way through that way?April 4, 2017 at 4:39 pm #1528498iandevries1013ParticipantHey!
I just took Reg Today and in regards to the MCQ I did not notice any difference at all. IDK if anyone else got this but I had 3 DRS sims on mine and I was totally blown away by that. Those DRS sims are real time crunchers. Anyone else have 3 drs questions?
April 4, 2017 at 6:21 pm #1528555Chief71ParticipantHi everyone,
I've done some of the REG simulations that Becker has and I have a question about some of the sims. There have been sims where I input the value of an expense as its absolute value (without a minus sign) and I got it wrong because it was missing the minus sign. I then went through other sims including the minus sign for expenses and got those wrong because they weren't supposed to include the minus sign and instead include just the absolute value. Other times I've typed in a zero where an answer isn't applicable and got it wrong because it was supposed to be left blank.
Does anyone have any input on whether or not to include the minus sign in these situations? Or whether to input a zero or leave it blank if it's N/A? Thank you!
April 4, 2017 at 10:18 pm #1528704FloreatParticipant@mtaylo24: I haven't had any trouble with AL in REG on the 2017 platform – yet. I remember it would occasionally freeze up on me with AUD under the 2016 platform, though. I had to eat the points.
@Chief71: I know exactly what you're talking about. My review software (Gleim) specifies whether it should be positive or negative. I don't remember that being the case for FAR & AUD. It usually says if the answer is zero or if the cell should be left blank, input a zero to get credit. I think the actual exam will provide direction – at least I remember it doing so with FAR & AUD.I'm working on Corporate Tax Computations. I was surprised that my review system expects me to memorize the multi-bracket graduated rate system. Do the review systems others are using require the same? I'm just not sure how much more I can fit in my brain!
FAR: 80 (10/28/2016)
AUD: 85 (2/6/2017)
REG: DSIT (Dragon Slayer in Training) (5/2017)
BEC: DSIW (Dragon Slayer in Waiting) (7/2017)April 4, 2017 at 11:30 pm #1528743CPA788ParticipantHey friends –
I wrote this up on a separate thread and thought I would share. RE: Corporate DistributionsPer my Becker book: “If current E&P is negative and accumulated E&P is positive, the two amounts are netted, and distributions are dividends if the net is positive.”
Adding the rest to round it out:
>”If both current and accum are positive, there are no netting issues; distributions are dividends to the extent of the total of current and accumulated E&P.”
>”If current E&P is positive and accumulated E&P is negative, distributions are dividends to the extent of current E&P only.”***
Visually b/c this is literally helping me re-learn at this point:+Acc E&P
+ Current E&P
= Dividends are combination of both acc and current E&P(Acc E&P)
+ Current E&P
= Dividends are limited to Current E&P only+Acc E&P
(current E&P)
= Net accumulated with current. Dividends are limited to this amount.BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16CA Candidate
April 4, 2017 at 11:41 pm #1528750thelatebloomerParticipant@Chief71: As mentioned earlier in the thread, some of us have seen the same issue with CPAExcel sims. And the consensus seems to be that the actual exam will be a lot more explicit about +/-
April 5, 2017 at 3:20 pm #1529043Chief71Participant@Floreat I really hope the exam provides some more direction on +/- on simulations. It would be heartbreaking to be a point or two short of passing because of an issue like that where the exam doesn't provide enough clarity.
April 5, 2017 at 3:21 pm #1529044famh110Participant@CPA788…I like the visual you shared with us. I covered this in the becker book yesterday so its just in time 🙂 thanks.
April 5, 2017 at 8:25 pm #1529268PapiCPAParticipantHello All
4/22 Test Day for me. 1st attempt at REG. Hoping this Enrolled Agent Cert I got over the summer kicks in. I see alot of overlap.
April 6, 2017 at 6:22 pm #1529811thelatebloomerParticipantI just took the exam today. I feel very confident about the MCQ testlets. The first testlet was really easy. I feel even more confident on that one than I did the first testlet I had when I passed BEC with an 88. The second testlet was moderately more difficult, so it does seem that the medium-hard thing is still happening. The 3rd testlet sims are where it got very interesting. They were actually pretty challenging, but I think I was overthinking it in the beginning. I blew some time searching in the AL after forgetting to click the “tax” tab because it defaulted to “audit” every single time. In the first 2 sims they hit me on topics that I knew, but did not have a thorough understanding on. The DRS questions were actually surprisingly very manageable. I feel as confident on those as any of them. As Jeff has mentioned before, don't spend too much time studying sims. I would focus on getting good at going through the authoritative literature to find what you want. There were numerous concepts that I just straight went to the AL for a refresher before tackling the problem, and my familiarity with the structure of the IRC helped a ton. Also, having a good feel for DRS and research questions will give you an advantage. With that said, if you simply do more questions and get the concepts down, you won't need to “refresh” your knowledge with AL, and it will save you a lot of time the more confident you are. Think of being good with the AL as a nice insurance policy in case you whiff some details. Also, in the 30 minutes waiting at the exam center I scanned through Ninja Notes, and I can say I nailed a couple questions because of that last bit of review.
In summary, I did about 2000 MCQs (1600 for Ninja and 400 for CPAExcel), did about 40-45 sims from CPAExcel, listened to Ninja Audio regularly, and scanned through Ninja Notes periodically and right before the exam. Next time I will go through the CPAExcel lectures and do questions immediately after each lesson. After that I will do the rest of the questions in the testbank and then get through as many questions in Ninja as I can. I did lectures only for a large chunk before starting Ninja MCQ, and I don't think it helped to wait so long to do questions. Keep in mind that I didn't take notes on all of the lectures, as I don't generally get as much value from that process. I feel really good about the MCQs but the sims were definitely challenging. With that said, I think I did enough for a 75, but you never know. I understood most of the overall concepts on the sims, but if I fail it's from missing too many little details.
Good luck to everyone. I will be moving on to FAR now.
April 6, 2017 at 6:37 pm #1529815greenoliveParticipant@thelatebloomer, thanks for all the information! Do you think Ninja MCQ are up to date for the new REG format? I used Roger and Ninja MCQ to pass FAR with a 90 and so I really love the Ninja MCQ but when I log in to start studying for REG, I feel like there are a lot of questions that might not be applicable to the new exam. I am not sure but I do not want to waste time studying things that don't apply so I am confused if it is up to date and if that will be enough to just use Roger and Ninja MCQ or I should also purchase something like Wiley. My test is on May 17th since that is when my NTS expires.
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