[jeff]

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

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

[HoosierCPA]

@aa I was wondering the same. I paid $200 on the cyber Monday deal

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

[RE2PECT]

What's up fellow Reggers. Hope everyone had a great Christmas. My wife, son and I have been sick the last few days and it's brutal trying to study when I feel like this. Took off yesterday and I'm trying to fight through some mcq's today.

Gleim's having a sale for $99 that gives you access to the test bank through March 10th. I paid $200 for it like dtatham10, but it also included the book and longer access. Would rather have just paid the $99 since I have no use for the book, but that sale wasn't available at the time.

@JMG- You really only need to do the tax sims since you're most likely not going to get any blaw ones. There's somewhere between 60-70 tax sims. I've went through them once and I'm on my 2nd pass through. I plan on doing all the tax ones at least three times.

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

[HoosierCPA]

@re2pect hope you and your family gets to feeling better! Did gleim send you the book as part of the $200? They wouldn't send me it unless I paid additional shipping fees. Thought it was odd and like you I had no use for it so I just decided not to get it.

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

[Teal]

Does anyone have a good resource that lists all the times you use FMV versus Adjusted Basis? And/or a memory trick for it?

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

[RE2PECT]

Thanks dtatham10. I hate getting sick. It drains the little bit of energy I have left after taking care of the little one lol. They sent me the book for free. I called their customer support because I had a question about the test bank and the rep asked me when I was taking my exam. When I told her I was taking it in January she said she would send me the book since none of the new changes would apply yet.

The only reason you may want to ask for the book is that there's sims in it that aren't part of the online course. I haven't done any yet, but plan on taking a look at them eventually.

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

[aatoural]

Wow – these CPA courses are banking to our expense. Pfff. Thanks for the clarification

@Re2pect – hope all three of you feel better soon.

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

[JMG]

@dtatham10 @re2pect I think I'll just pony up the 99 and get through as many as I can. Thanks!

[aatoural]

Which of the following statements is correct regarding disclosure of client working papers prepared by a CPA?
a.
Working papers may not be disclosed under a federal court subpoena without the client's permission.
b.
Working papers may not be transferred to another accountant without the client's permission.CORRECT
c.
Working papers may not be disclosed to any third parties without the client's permission.
d.
Working papers may not be turned over to a CPA quality review team without the client's permission.

What not C?

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

[RE2PECT]

@aatoural- Thanks, hopefully it passes in a day or two.

I don't think it's C because they would have to disclose their working papers if there were was a subpoena or for a peer review.

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

[Namstut]

Question to @dtatham10 and those who use Gleim SIMs but are also familiar with Becker.

Is there a value in getting Gleim SIMs? Are they much different from the Becker SIMs or are they similar but more complex and over-prepare you (which in my mind is a good thing)? I have a week before my exam and starting to work through Becker SIMs again. We all know that getting through SIMs on REG is the key to passing this stinky exam.

AUD 7/6/16 Passed
BEC 9/3/16
FAR TBD
REG TBD

[Namstut]

@Teal I attempted to summarize the NBV and FMV for you but it's just too much info to cover.

I would recommend going through Corporate, Partnership, Gift, Estate, Like-Kind (pretty much the whole REG, ha!) and summarize it for yourself and then study it until your brains boil. I think for topics like this, which have so many similarities but also are so different depending on circumstance, it is very helpful to summarize the information in one place to understand it.

AUD 7/6/16 Passed
BEC 9/3/16
FAR TBD
REG TBD

[LIZZ]

Day 1. REG Final Review

Working 6 hours today then going to the Hilton Lobby to study with a friend for 4 hours.

At work – doing 5 Mixed MCQ/hour at work and 20 on my lunch break and listening to GLEIM audio review.
At Hotel – The plan is to do the Becker final review lecture for Property and do all the Ninja MCQ (155).

Just FYI Hotel lobbies are great study areas. Great Food/Service, Free Internet, Clean Restrooms and outlets.

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

[aatoural]

Lizz – I was reading your post and when I read hotel lobby I was like, isn't that a loud place?

I do the bookstore sometimes it does help to get out of the house and change scene while studying.

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

[JMG]

Does anyone have simplified notes on affiliated groups and transfer pricing? It's a small section at the end of R3 in the Becker book. It just looks like a bunch of blah blah blah to me so if anyone has the important take aways I'd appreciate it.

[Namstut]

@JMG it's basically a tax avoidance technique used by multinational (or multi-state) corporations where the goods are sold to affiliates at set prices to reduce taxable income in the jurisdictions with higher tax rate and increase it in the jurisdictions with a lower tax rate. Their transactions are not compatible with “arms-length” transactions.

This is a very simplified answer but this is how I understand it.

AUD 7/6/16 Passed
BEC 9/3/16
FAR TBD
REG TBD

[Author]

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