[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for REG. 🙂

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

[HoosierCPA]

@Hasy nope, I've only tried out Ninja MCQ's.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Teal]

Can anyone explain what exactly E&P is made up of? (i.e. how to compute it?) Or am I thinking too hard about this, haha!

FAR (66,68) Aug 26
REG (66) July 25
AUD (66) December 1st
BEC - October 3rd

[RE2PECT]

I was hoping not to be in any more of these, but someone wants me to suffer a little longer lol. For all of us who are on our last exam we got this! Let's not be guinea pigs for the new one!

How are all the retakers studying this time around? I'm scheduled for a 1/17 rematch.

I've basically been hitting mcq's and sims for the last 3 weeks. Not sure if I should spend the time rewriting whatever notes I took or just keep doing what I'm doing and maybe just review my notes and the text as I go. I may just write out all the mnemonics in Roger's book so I have them for a quick reference.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[aatoural]

@Teal – I still have some doubt in terms of what increases it or decreases it as well. However I do have the distributions part completely mastered (or I think I have )

+Current E&P and + Accum E&P = all distributions dividends to extent of both
+Current E&P and – Accum E&P = all distributions dividends to extent of Current E&P (DO NOT NET)
-Current E&P and + Accum E&P = all distributions dividends to extent of Acc E&P (CAN NET)
– Current E&P and – Accum E&P = no part of the distributions is dividend

If not enough or negative Accum E&P and Current E&P – distributions will be return of capital to the extent that basis is greater than zero, if distribution in excess of basis is left then is taxed as capital gain

Current E&P is proprated among the distributions and Accumulated E&P is distributed first come first served basis. (Becker has a good SIM for this)

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[LIZZ]

My test date is 01/06 I am using Ninja for mixed MCQ and Becker.

FAR - 05/2015
AUD - 75,11/2014
REG - 07/2015
BEC - 09/2015

[aatoural]

Also SIMS in Becker Chapter 3 (last simulation covers a lot of E&P.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

E&P you can get through a good chunk of scenarios using common sense. The concept of it is taking your tax income and working to book income. The key is knowing what you can reduce for federal tax purposes. For example. Federal income tax is a non deductible expense for tax however from a book income perspective it IS an expense and needs to be recognized–so going from tax income to book income you will need to reduce this. Item that are recognized in both obviously need no adjustment (ex regular operating expenses). And then finally items that get extra expenses for tax purposes need to be added back to get to your book income (ex. Accelerated depreciation, however depreciation can swing either way depending on the scenario).

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[JMG]

Glad to be a part of this group, ready to tackle REG as my first exam! I've been studying for roughly 4-5 weeks now and will be sitting for the exam in mid-January. I'm using Becker and Ninja MCQ, hopefully that's enough to get the win. Hard to stay focused right now with a 2 month old at home, starting an internship with a Big 4, and also planning to take BEC at the end of the window. Let's do this!

[HoosierCPA]

@JMG we will knock this out. Looks like you are apart of the parent crew with me and @Re2pect. I have a 1 month old and a 13 month old at the house! I don't have the demanding hours of a big 4 though so I feel your pain!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[JMG]

@dtatham10 I tried to time it just right so that by the time I start the internship, I will be in my 2 week review phase. Hopefully the holidays won't distract me too much!

[cpaMD86]

Haven't started studying yet, but I'll be here with you guys. Taking a slight break after BEC. This my last section, so here's to all of us passing in one shot!

FAR: 9/3

[RE2PECT]

Good luck to you JMG and congrats on the baby! It's not easy having a little one at home. I would try and knock out as many exams as you can while the baby is still young and doesn't require as much attention. My son will be 11 months soon and he's all over the place lol. Plus he's been waking up a lot in the middle of the night, which he never used to do. I've been up since 4am and it's hard to focus when you have to study in the evenings after working all day and taking care of a baby.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[tyw416]

I plan to take reg on Jan 2017. I don't know which year's number I should use for personal exemption. 2015 or 2016? Thanks.

[aatoural]

The books have 2016 numbers for indexed amounts

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Claudia408]

hey guys, going on attempt #5 with Reg. Yes, FML. all previous attempts i scored weaker on biz law and i noticed Ninja MCQ has 736 biz law questions which is like 40% of the test bank. does anyone actually recommend going through all 736?

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Author]

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