[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Post by Another71.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[NJPRU]

Lauren – I have mastered the concept but not how to apply it. the MCQs are okay, but do not account for a lot of detailed calculations. I know there is an awesome SIM for this topic. That is something I would definitely do and master.

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[lauren725]

thanks NJ! Yes I agree I understand the concept but those MCQ are all over the place and I get confused. Will definitely look at that SIM this week. I think that is one of the only ones I have blank for individual tax. Thanks!

AUD - 73,91
FAR - 79 - Thank you God!
BEC - 73,79!!!!
REG - 92 whatttt??!

I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

Done! Praise God!

[lauren725]

I even have an ESPP and it is still like whaaaa? lol

AUD - 73,91
FAR - 79 - Thank you God!
BEC - 73,79!!!!
REG - 92 whatttt??!

I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

Done! Praise God!

[PasstheCPA7]

Hi guys,

A quick question – what does being “bound” by the contract mean? I'm doing the law questions, and the word “bound” is throwing me off.

Thanks.

[BEACPA]

For the current year, Seth and Sheila intend to file a joint return. Seth expects to earn $35,000 in wages from his teaching job. He is covered by the university's pension plan. Sheila is a volunteer at their son, Stephen's, school. In addition to Seth's income, they received $500 in interest income and $50 in prize winnings from a local radio contest. Each would like to make a deductible contribution to an individual retirement account for the current year. They also believe they will be eligible to claim a tax credit for these contributions. Which of the following is correct?

Deductible Contribution Claim Credit

a. No Yes

b. Yes Yes

c. No No

d. Yes No

FAR - 2/28/14 PASS Praise be to God!
AUD - 7/5/14 PASS Praise be to God!
BEC - 11/29/14PASS Praise be to God!
REG - 2/28/14 PASS Praise be to God!

[NJPRU]

I just got that question lol. I won't answer it because I already know the answer. 😛

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[BEACPA]

NJPRU,

Funny! What threw me off balance was the fact that I couldn't find the phase out period. I thought it would have been lower to receive this credit. Are you able to point me to a page number in Becker? I performed a keyword search, but it doesn't get into the minutia of phase outs. Thanks NJ….

Cheers…

FAR - 2/28/14 PASS Praise be to God!
AUD - 7/5/14 PASS Praise be to God!
BEC - 11/29/14PASS Praise be to God!
REG - 2/28/14 PASS Praise be to God!

[Future Ninja]

did you know that:

To be successful in a civil action under Section 11 of the Securities Act of 1933 concerning liability for a misleading registration statement, the plaintiff must prove neither the defendant's intent to deceive nor the plaintiff's reliance on the registration statement.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

@Future, what do you have to prove then for that liability of misleading registration statement?

[Anonymous]

Can anyone please how to count the number of months for half-year convention? Thanks please.

[Gabe]

For those that have taken REG more than once, how do you prepare for SIMs. More specifically, I know I did really well on the MCQs and bombed the SIMs because I freaked out (and the AL was of no use). Any thoughts on how to get over *fear* of REG Sims?

Thanks 🙂

CPA, CFE
CISA- Experience will be completed by August 2016

[nika_cpa]

I am almost done with all my MCQs in my WILEY test bank. Planning on spending last few days before exam by hitting SIMS. SIMS are the cause of my failure……….

Becker self-study, Wiley Test Bank and books, Becker final review. NINJA MCQ bank and NINJA notes for BEC only!

AUD - PASSED!
FAR - PASSED!
REG - PASSED!
BEC - PASSED!

[NJPRU]

@amor – here's a link that could be useful for you with regards to half year convention:

https://www.depreciationguru.com/2009/07/how-to-calculate-depreciation/

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[NJPRU]

@future: “To be successful in a civil action under Section 11 of the Securities Act of 1933 concerning liability for a misleading registration statement, the plaintiff must prove neither the defendant's intent to deceive nor the plaintiff's reliance on the registration statement.”

This is because you need to prove (LAM): (L)osses were incurred, you (A)cquired stock, and there was a (M)aterial misrepresentation. Continuing, I think here, what must be proven is that due care was lacking. A defense on the preparer would be that they created the registration statement with due dilligence.

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[WANNABE_CPA]

Private foundations may be subject to several taxes. Which of the following taxes is a private foundation not subject to?

A.

Tax on accumulated earnings

B.

Tax on investment income

C.

Tax on failure to distribute income for exempt purposes

D.

Tax on excess business holdings

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Author]

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