REG Study Group Q1 2015 - Page 139

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  • February 24, 2015 at 2:38 am #653124
    Anonymous
    Inactive

    @NJPRU- thanks! good luck to you too.

    February 24, 2015 at 3:06 am #653125
    Gabe
    Participant

    @lauren exactly why I am confused! I also didn't see that the truck was sold..so I should RTMFS! lol. I'll look at it again tomorrow with fresh eyes,

    Good vibes to all my Q1 REG buddies this week and tomorrow! 75's all around!! You CAN do this!!

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

    February 24, 2015 at 3:13 am #653126
    lauren725
    Member

    NJ good explanation on the AMT stuff. That is great you feel good with the SIMS. Some of ninja are really similar and some are more detailed. I think it is definitely good practice and so you have a good plan!

    Gabe, ya I am still not sure about the 179 depreciable base stuff. I will let you know if I get anywhere else on that.

    coocooper – I sit Friday as well. Good luck to you!!

    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!

    February 24, 2015 at 4:13 am #653127
    BEACPA
    Participant

    How are my Future CPAs Doing?

    I'm exhausted. I went back through the Becker Sims from R1-R4 and some of those are really time consuming. I found my self questioning myself a lot and for the right reasons. This section is all over the map! The Sims from R5-R8 were a cake walk.

    I still have to redo all of the MCQ from BLAW and then I can do my practice exams. This exam really is playing mind games on me and I'm trying to remain positive.

    @NJ you must be a genius. I'm not able to absorb this information as quickly as you are. You're like a sponge. Just wanted to check in and say hello and let ya'll know that I'm thinking about you and you're definitely held up in prayer.

    Cheers,

    beacpa

    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!

    February 24, 2015 at 4:20 am #653128
    BEACPA
    Participant

    Humor Anyone?

    An accountant is reading nursery rhymes to her young child. When she is finished, she answers her son’s question: “No, son. When Little Bo Peep lost her sheep that wouldn't be tax deductible — but I like your thinking.”

    An accountant goes into a pet shop to buy a parrot. The shop owner shows him three parrots on a perch and says, “The parrot on the left costs $500.” “Why does that parrot cost so much?” asks the accountant. “Well,” replies the owner, “it knows how to do complex audits.” “How much does the middle parrot cost?” asks the accountant. “That one costs $1,000 because it can do everything the first one can do, plus it knows how to prepare financial forecasts.” The startled accountant asks about the third parrot, to be told it costs $4,000. Needless to say, this begs the question, “What can it do?” to which the owner replies “To be honest, I've never seen him do a darn thing, but the other two call him Senior Partner.”

    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!

    February 24, 2015 at 4:26 am #653129
    PasstheCPA7
    Participant

    @ BEACPA – I wanted to ask you a question on one of the Becker questions. It's CPA-04751. The question is about the taxpayer making estimated tax payments to the IRS. The answer choices are: The annualization method and the Seasonal method. Any idea on what these two methods are?

    Thanks.

    February 24, 2015 at 6:13 am #653130
    BEACPA
    Participant

    PasstheCPA7,

    Yes. Good question. Becker doesn't even have it in their definition. I think they do this to prepare us for the real deal – i.e., seeing things for the first time and you say – WTH? Sorry for the tirade. To answer your question, the seasonal method is for a corporation that makes 70% of its income during a six month period during the year. My understanding for annualized is that it is the corporations projected annualized income. I wouldn't publish this, but it's my understanding of what these methods represent from looking at other tax books. I hope this helps. Good luck!

    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!

    February 24, 2015 at 6:25 am #653131
    PasstheCPA7
    Participant

    @ BEACPA – I know right? I could not find this definition anywhere. So annoying lol. Anyways, thank you for that.

    February 24, 2015 at 6:31 am #653132
    thelonewolf527
    Member

    BY FAR the most confusing part about AMT is the language that they use. Like “Allowed for AMT,” “Deductions for computing AMT,” “Itemized Deductions allowed,” “Added back for AMT” are all incredibly confusing since they mean different things. I still don't understand it at all

    AUD - 08/04/14 - 83
    FAR - 11/29/14 - 80
    REG - 02/26/15 - 89
    BEC - 05/30/15 - 86

    DONE!

    February 24, 2015 at 1:57 pm #653133
    Anonymous
    Inactive

    Passed REG barely – 2/9/2015! Just wanted to pass along my REG experience with everyone. I let myself get hung up on one of the SIMS (and yes, I knew better) then I had to rush through the others thus I barely passed REG. I'm so glad I passed even if with only a 75. However, my advice to everyone taking REG in the future is to work the SIMS they know the most about first but do not spend too much time on it then move on the to others but allow yourself a few minutes to review all of the SIMS. I hope this helps someone!

    February 24, 2015 at 1:58 pm #653134
    Gabe
    Participant

    Congrats Arkansas! I also saw that Mika and Juuuustin passed this Quarter as well. 🙂

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

    February 24, 2015 at 2:04 pm #653135
    terryharm
    Member

    HI guys, just wanted to check in and see how NJPru and Mika did on the exams and wish Lauren and everyone else good luck this week.

    BEC: 81
    FAR: 75
    AUD: 81
    REG: 85

    PA license Pending..

    February 24, 2015 at 2:23 pm #653136
    Gabe
    Participant

    Mika passed 🙂 I saw it on the REG score release I believe…I think everyone else is sitting this week/weekend.

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

    February 24, 2015 at 2:24 pm #653137
    NJPRU
    Member

    Good Morning Terry! Hope you are doing well now that you are done! I'm actually set to take my exam this Saturday – getting pretty anxious! I saw that Mika passed her exam with an 80! So happy for her. 🙂 Thank you for checking in, I appreciate it!

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

    IM GOING TO BE A CPA!!!!!

    February 24, 2015 at 2:41 pm #653139
    MaverickCPA2015
    Member

    Just checking in to wish you all the best of luck on this section. This was the section that gave me the most trouble and I had to retake. I used NINJA MCQ and Audio on my retake and that helped as a supplement to GLEIM. Be sure to get a feel for these SIMs as that is where they really get into details that I felt were not showing up on all of the MCQs I did. Over 4000 Gleim and 3000 NINJA along with Gleim SIMs. You all got this!!!! I may not have posted much but you all helped pick me up when I was down. So thank you!

    BEC - 82 (GLEIM)
    AUD -85 (GLEIM)
    FAR -75 (GLEIM)
    REG - 59, 80 (Gleim + NINJA Audio and NINJA MCQ)
    ETHICS -91
    DONE!!

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