[jeff]

REG Resources:

Free REG Notes & Audio – https://www.another71.com/cpa-exam-study-plan

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

REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

[Anonymous]

LOOKING FORWARD FOR REG ON 8/24/2013.. WORKING ON CHAP 3.

GOOD LUCK!

[Anonymous]

LOOKING FORWARD FOR REG ON 8/24/2013.. WORKING ON CHAP 3.

GOOD LUCK!

[JAltNJCPA]

Well, that sucked. Took my exam today and, well, I'm drinking tonight to say the least. Stokey45, I'm with you. Isee a rematch in October with this *#^]%#+%]}|~€ test…

FAR: 84 (expires May '14)
AUD: 82
BEC: 91
REG: 78

done, Done, DONE!!!

Roger CPA Review, Wiley Test Bank, NINJA Audio

[JAltNJCPA]

Well, that sucked. Took my exam today and, well, I'm drinking tonight to say the least. Stokey45, I'm with you. Isee a rematch in October with this *#^]%#+%]}|~€ test…

FAR: 84 (expires May '14)
AUD: 82
BEC: 91
REG: 78

done, Done, DONE!!!

Roger CPA Review, Wiley Test Bank, NINJA Audio

[Anonymous]

Hey guys, hope everyone's studying is going well. Quick question with regards to the NINJA Material. I know REG had a lot of mid-year changes and that the Ninja Materials was updated…how do i get the updated Ninja Materials? I have mostly been studying BEC using Ninja but now im switching back to REG listening to the audio notes, but i don't have the right updates.

Any help would be appreciated. =)

[Anonymous]

Hey guys, hope everyone's studying is going well. Quick question with regards to the NINJA Material. I know REG had a lot of mid-year changes and that the Ninja Materials was updated…how do i get the updated Ninja Materials? I have mostly been studying BEC using Ninja but now im switching back to REG listening to the audio notes, but i don't have the right updates.

Any help would be appreciated. =)

[Anonymous]

@JAItNCPA I always drink after each exam 😛 A 6-pack of Blue Moon and some Pizza is my “Thank God thats over, now time to wait for the next 2-3 weeks to slowly crawl as I wait for results.” Take some time off to relax now, it's out of your hands now that at least should be somewhat of a relief.

[Anonymous]

@JAItNCPA I always drink after each exam 😛 A 6-pack of Blue Moon and some Pizza is my “Thank God thats over, now time to wait for the next 2-3 weeks to slowly crawl as I wait for results.” Take some time off to relax now, it's out of your hands now that at least should be somewhat of a relief.

[stokey45]

Hey guys I was hoping for a bit of advice. I am pretty confident (and depressed) that I did not pass REG. Assuming I failed I know that I cannot retake it until the next testing window, starting in October. I have passed FAR and AUD. I had also passed REG and BEC but lost those scores. I do want to take a little break from studying before jumping right back in but I am not sure I want to wait until the beginning of August to see my REG score first to know what to study next. Would you move on and study BEC or go back and pick up REG(while a lot of the information is still fresh) again knowing that you cannot sit again until October?

I have a full time accounting job and a family. I know several people seem to balance the two out very well but sometimes I have a hard time. I want to focus on these exams only but unfortunately I cannot do that. I know my schedule at work will be busy in Sept and October because of the extension deadlines. I do not want to run out of time with my exams again either. Any advice would be appreciated. Thanks.

[stokey45]

Hey guys I was hoping for a bit of advice. I am pretty confident (and depressed) that I did not pass REG. Assuming I failed I know that I cannot retake it until the next testing window, starting in October. I have passed FAR and AUD. I had also passed REG and BEC but lost those scores. I do want to take a little break from studying before jumping right back in but I am not sure I want to wait until the beginning of August to see my REG score first to know what to study next. Would you move on and study BEC or go back and pick up REG(while a lot of the information is still fresh) again knowing that you cannot sit again until October?

I have a full time accounting job and a family. I know several people seem to balance the two out very well but sometimes I have a hard time. I want to focus on these exams only but unfortunately I cannot do that. I know my schedule at work will be busy in Sept and October because of the extension deadlines. I do not want to run out of time with my exams again either. Any advice would be appreciated. Thanks.

[Heidi-O]

@icanhazcpa What do you do for the next year? You would have to deduct the % taken off in the first year, wouldn't you (for the 1/7 of the asset lifetime – I am assuming you are using 1/7 of its costs X 2 (which is the 200%) x 1/2 year which would be if the assets purchased weren't in the last quarter. If they were purchased in the last quarter then the % deduction would change, right? or wrong… I don't know, I'm just tired and flustered!!

@CPAForeigner – Email Jeff and he will update the material for you!!

@JAItNCPA I started drinking when I started studying!! :} I'm sorry you felt so bad leaving the exam. I feel for you, I've been there. There may be a positive surprise waiting for you at the end of this! I hope so!! If not, at least you're more than half way on the study material!! This will be my third attempt at REG – I still don't feel confident. And I STILL don't enjoy the lectures (not the third time through I don't).

Quick question and probably a stupid one, an asset, when it is sold for more than the NBV in a corporation, the additional amount above the original purchase price is a Section 1231 Capital gain, but a corporation records capital gain at ordinary income levels?

For example: An asset purchased for 100,000 and has 50,000 in depreciation taken (for taxes) has an NBV of 50,000. Its a Section 1245 asset (machinery and equipment). If we sell the asset for 125,000, 50,000 is recapture of depreciation and an ordinary gain, 50,000 is the recover of the asset basis and the additional 25,000 above our initial 100,000 purchase price is a Capital Gain but it is recorded as ordinary income? It's not taxed as a Capital Gain at a different rate from normal Corporation taxes? Am I wrong? I can't find any (or understand in my material) any tax advantage of a Corporation on a Capital Gain (tax benefit). Can someone help me with where I am missing a piece in this?

Going back to Finish Chapt 4 tomorrow and then its on to contracts/sales with a dip into commercial paper/secured transactions/suretyship & creditors rights!!!

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Heidi-O]

@icanhazcpa What do you do for the next year? You would have to deduct the % taken off in the first year, wouldn't you (for the 1/7 of the asset lifetime – I am assuming you are using 1/7 of its costs X 2 (which is the 200%) x 1/2 year which would be if the assets purchased weren't in the last quarter. If they were purchased in the last quarter then the % deduction would change, right? or wrong… I don't know, I'm just tired and flustered!!

@CPAForeigner – Email Jeff and he will update the material for you!!

@JAItNCPA I started drinking when I started studying!! :} I'm sorry you felt so bad leaving the exam. I feel for you, I've been there. There may be a positive surprise waiting for you at the end of this! I hope so!! If not, at least you're more than half way on the study material!! This will be my third attempt at REG – I still don't feel confident. And I STILL don't enjoy the lectures (not the third time through I don't).

Quick question and probably a stupid one, an asset, when it is sold for more than the NBV in a corporation, the additional amount above the original purchase price is a Section 1231 Capital gain, but a corporation records capital gain at ordinary income levels?

For example: An asset purchased for 100,000 and has 50,000 in depreciation taken (for taxes) has an NBV of 50,000. Its a Section 1245 asset (machinery and equipment). If we sell the asset for 125,000, 50,000 is recapture of depreciation and an ordinary gain, 50,000 is the recover of the asset basis and the additional 25,000 above our initial 100,000 purchase price is a Capital Gain but it is recorded as ordinary income? It's not taxed as a Capital Gain at a different rate from normal Corporation taxes? Am I wrong? I can't find any (or understand in my material) any tax advantage of a Corporation on a Capital Gain (tax benefit). Can someone help me with where I am missing a piece in this?

Going back to Finish Chapt 4 tomorrow and then its on to contracts/sales with a dip into commercial paper/secured transactions/suretyship & creditors rights!!!

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Heidi-O]

@Stokey45 It depends on your strengths. When I took FAR, I knew I had failed…KNEW IT. But I had to wait for the exam scores to come out and I had 3 more exams to get through and Audit was next. So, I kept on doing my FAR questions – to keep the material fresh in my mind and took notes on my weak areas and I moved forward SLOWLY with Audit. 2 weeks later, I called NASBA to try and pay for a new FAR exam but NASBA wouldn't let me until 48 hours after failing FAR. So I just kept reviewing the questions and moving into Audit, then I checked on-line and found out I had passed FAR! How, I have no clue. I mean I studied hard but I had a family death and taking it was impossible on me emotionally.

Now, the reason for the long story – you don't really know if you failed REG or not. You may have breezed by with a cool 75 – but you don't really know. I would evaluate where your strengths are right now. If you find the information in BEC easier than REG, then I would plan to tackle REG in the next testing window but keep up with the questions – keep the information that you worked so hard to get into your mind, stay in your mind. Review the information and slowly document the areas where you are weak. Don't over do it at all.

Now, if you look at the BEC material and think that you could honestly just really kick a$$ on that one, I would start studying it right now and plan to take it at the end of the AUG window. You would have 7 weeks to prepare. You have nothing to lose and with work increasing, it would be one less exam to study. And since the simulation is based on the complexity and intelligible comments in your writings – I think it would be a nice break for you. But keep doing some of the REG as you go – may 30 questions, 3x a week. Just like they did in the old days when all 4 tests were tied together. Try not to lose the information that you gained, and try not to kill yourself in the process.

Hope it helps and I am sorry about your experience. I know it is rough. But you can do this!! Maybe moving to the other exam would help give you some more momentum – at least you are doing something to move forward while you are waiting for your score.

PS: as far as the family and work, I have some of that too (in a different way) but I found that the Wiley Apps for my phone worked great! I could study when I went out for dinner, at Epcot Center while waiting in line, while being bored at the office waiting on some work to come my way, and during tv that I didn't want to watch but someone else did. All those little pieces help. Even if its just 3 questions at a time, its three more than you had at the beginning of the day!

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Heidi-O]

@Stokey45 It depends on your strengths. When I took FAR, I knew I had failed…KNEW IT. But I had to wait for the exam scores to come out and I had 3 more exams to get through and Audit was next. So, I kept on doing my FAR questions – to keep the material fresh in my mind and took notes on my weak areas and I moved forward SLOWLY with Audit. 2 weeks later, I called NASBA to try and pay for a new FAR exam but NASBA wouldn't let me until 48 hours after failing FAR. So I just kept reviewing the questions and moving into Audit, then I checked on-line and found out I had passed FAR! How, I have no clue. I mean I studied hard but I had a family death and taking it was impossible on me emotionally.

Now, the reason for the long story – you don't really know if you failed REG or not. You may have breezed by with a cool 75 – but you don't really know. I would evaluate where your strengths are right now. If you find the information in BEC easier than REG, then I would plan to tackle REG in the next testing window but keep up with the questions – keep the information that you worked so hard to get into your mind, stay in your mind. Review the information and slowly document the areas where you are weak. Don't over do it at all.

Now, if you look at the BEC material and think that you could honestly just really kick a$$ on that one, I would start studying it right now and plan to take it at the end of the AUG window. You would have 7 weeks to prepare. You have nothing to lose and with work increasing, it would be one less exam to study. And since the simulation is based on the complexity and intelligible comments in your writings – I think it would be a nice break for you. But keep doing some of the REG as you go – may 30 questions, 3x a week. Just like they did in the old days when all 4 tests were tied together. Try not to lose the information that you gained, and try not to kill yourself in the process.

Hope it helps and I am sorry about your experience. I know it is rough. But you can do this!! Maybe moving to the other exam would help give you some more momentum – at least you are doing something to move forward while you are waiting for your score.

PS: as far as the family and work, I have some of that too (in a different way) but I found that the Wiley Apps for my phone worked great! I could study when I went out for dinner, at Epcot Center while waiting in line, while being bored at the office waiting on some work to come my way, and during tv that I didn't want to watch but someone else did. All those little pieces help. Even if its just 3 questions at a time, its three more than you had at the beginning of the day!

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Anonymous]

@stokey I would do as Heidi suggested. Start studying for BEC right away and try and knock that one out by the end of August. Then by that time you will know for whether you failed REG or not and can either start back studying for REG for the Oct/Nov testing window or if you passed then you just have to wait to get the BEC passing score and you're all done!

Good luck to you.

[Author]

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