[jeff]

Welcome to the Q3 2017 CPA Exam Study Group for REG. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your REG exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

[Julia]

@wake. I spend half my day on IRS.gov
Its the best place to research. But u end up reading a lot. Still better than going down internet rabbit hole.
What? worst celebrity tattoo? Ok!! Lol.

[CPAIN2K17]

Has anyone studied the BLaw part yet? It comes first before tax in the Wiley course. So many rules, sooo confusing

[jgibs]

I apologize if someone has already answered. I am getting confused on Personal Holding Companies. What are they? I know they get special treatment, but I am not 100% I would recognize one.

[Holly]

@CPAIN2K17 I looked at the first chapter of Blaw in Becker and yeah it's going to be tough for me to get all of that down.

BEC - 79
REG - 85
AUD - 5/27/16

[Holly]

Personal Holding Company – more than half owned by 5 or less people, and 60% of income of: rent, interest, royalties, dividends

BEC - 79
REG - 85
AUD - 5/27/16

[Wannafree]

@Holly ,for Blaw , try to go through the HW rather studying text.I have read Blaw from Becker's many times but it was waste of time,when I tried their HW and Ninja MCQ I could retain the stuff and those are the crux of the chapters.BTW Ninja book has done good job in explaining REG in different style and logical way.U may try but moral of the story do MCQ for Blaw.

[Holly]

@wannafree thanks! Maybe Peter Olinto will make one or two things stick in my brain. At least he's entertaining.

BEC - 79
REG - 85
AUD - 5/27/16

[Wannafree]

@Holly , may be but I learned hard way , I had exposure to business laws and while reading I was understanding the contents very well but when doing MCQ on Ninja I was committing mistakes and then I decided why not do the HW and it worked after that I was consistently scoring well on Ninja.YMMV.

[CPAIN2K17]

@holly the good news is that on the AICPA blueprint BLaw is only 10-20% of the exam, but there are just so many rules to remember for only maybe 10 questions on the exam about it

[hawk77]

Sitting for REG at the end of August. Attempting to make this the first pass of the four parts, work in the tax department of a mid-sized company, hope REG is a good starting point.

Will work through the Wiley book front to back, then use Ninja MCQ and Notes to finish it off.

Anyone else use a similar study plan?

FAR - April 5, 2016
AUD - May 28, 2016
REG - TBD
BEC - TBD

[hawk77]

I am reviewing the current exam topics on the AICPA website, I tried to research this but didn't have a ton of luck. My Wiley book is from 2016, just over a year old but includes the following:

Sales
Negotiable Instruments
Secured Transactions
Bankruptcy

These don't appear to be on the BLAW section of the breakdown per AICPA. Have they been eliminated from the current exam? Any help is appreciated.

Looks like they have moved the BLAW focus to:

Contracts
Debtor/Creditor
Agency
Govt Regulation

Sound right?

FAR - April 5, 2016
AUD - May 28, 2016
REG - TBD
BEC - TBD

[CPAIN2K17]

@hawk77 sales, negotiable instruments, secured transaction, and bankruptcy are definitely all still in the 2017 Wiley study plan. I use the course online which is updated and there are still lessons for all of these topics.

[hawk77]

Thanks CPAIN. I saw they reduced the BLAW % on the 2017 exam, figured they might have eliminated some topics. Wiley dedicates 10 chapters to BLAW which is only 10-20% of the exam.
Still trying to justify working through all these chapters after I'm finished with Ethics, Professional Responsbility & Fed Tax Procedures, which also weight 10-20%.

FAR - April 5, 2016
AUD - May 28, 2016
REG - TBD
BEC - TBD

[Anonymous]

@Holly-I did blaw chapters in Becker first because I was waiting for the new textbook to come, and I have to say, Peter Olinto just makes everything better. Skills Practice is where it's at-his sections are very detailed and I got a lot of notes and flashcards from those on blaw, whereas Gearty section for Skills Practice are mediocre at best….

[Julia]

@jsn3004 I was working on depreciation recapture last night & thought of u . lol. The ninja notes detail that depreciation recapture is straight forward for 1231 and 1245.
The percentage thing is for real property 1250 corp.
20% of deep reclassify as ordinary. Remainder is 1231 gain.
Individual is all 1231 gain.
I hope u don't mind me answering – this is fun. Like a learning Easter egg hunt. Lol.

[Author]

Replies