REG Study Group Q4 2016 - Page 129

  • Creator
    Topic
  • #836140
    jeff
    Keymaster

    Welcome to the Q4 2016 CPA Exam Study Group for REG.

    If this is your first post in the study group – please post your target exam date (just the time frame to preserve your anonymity), and your past history with this exam (optional, of course).

Viewing 15 replies - 1,921 through 1,935 (of 2,222 total)
  • Author
    Replies
  • #1371441
    Determined24
    Participant

    @dtatham10 I think I saw where you had the Gleim sims, then let me be the first to tell you congrats on your REG pass

    #1371458
    demarcon
    Participant

    @Determined24 Omg that makes me soooooooo happy

    #1371467
    Namstut
    Participant

    @determined24, my apologies if you answered this question earlier – what study program did you use?



    @demarcon
    and @dtatham10, you are going to crush this! I think you are ready based on your replies on this board!

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

    #1371470
    Determined24
    Participant

    LESSONS LEARNT:

    TOTAL STUDY TIME
    I studied 3 1/2 months for REG reason being I believe I had to give myself time for the whole “learning curve thing”. I am new to US tax and Law, we do things way different in our region.

    When I started I did not even know what “basis” was and the technicality of the review system did not make it any better, thanks to the internet I picked up on it at some point.

    WORK AND STUDY
    It was not a full 3 and 1/2 months because I work a FULL time job. I am at work from 8 am and do not get off until 10 sometimes it will be days before I see the evening sun. Then I go home and put in about 3 hours, so it is really 3+ months of that routine.

    Also I think short term memory really comes into play, because at one point I could not remember what I studied in the early weeks (it was as if I had never seen the thing)

    IMPORTANCE OF REVIEW
    So cumulative practice is good, keep hitting that refresh button. However, there is also the “burn-out” dilemma. A break is really important, let that guilt of stepping away from the book come at least once and then pick up. You can get burn out to the point you go in the exam and you are as blank as a print sheet. The reason why I suggest stepping away atleast one time is that upon returning, you get a “pick up” adrenaline rush which is good for you in the final days makes you feel like you have to make up for the guilt of stepping away.

    JOIN ONLINE FORUM
    This forum really helps too, try and contribute, I would pause when I get a email notification from the group to see the questions members were asking and stop what I am doing to research and make sure I understand it and also see If I am on the same page as them.

    #1371471
    HoosierCPA
    Participant

    @determined24 @demarcon that gives me the ambition to work through the gleim sims again. I'll probably work through the majority of them through scratch again to make sure I have a decent grasp of them.

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

    #1371476
    demarcon
    Participant

    @dtatham10 @determined24 That is what I am going to spend my entire study day on tomorrow. I'm just wrapping up for today after a fun filled 6 hours with Roger and his cram course.

    #1371479
    HoosierCPA
    Participant

    @namstut thanks! I hope I'm ready. Right now my fear is missing the easy points. I have focused so much on the big topics and areas I'm weak at I have a feeling I'm going to miss some really easy rule like individual capital loss limit or something haha!

    I have mentioned in prior posts but my wife and I had a child mid November and I have taken advantage of the fmla time which brings me to @determined24‘s comment. I am feeling a bit burnt out because for the past year I have been used to 2 hours a day on the weekdays and 4 hours on the weekends that putting in 6-8 hours a day is starting to take a toll on me :/.



    @determined24
    did you use gleim? I might be pushing it but which sims did you find best? I feel like of the 20 they offer maybe half have a legitimate shot of making it on the exam.

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

    #1371480
    demarcon
    Participant

    @dtatham10

    Take a break. You need to take a full day off, even if you passively listen to stuff. Don't burn yourself out, you're almost to the end.

    #1371483
    HoosierCPA
    Participant

    @namstut sorry I didn't mean to ignore your message. I'm probably not the one to ask. I originally started on Becker–which I thought was great but wasn't quite getting me there. My 2nd attempt I went Becker again–74. 3rd time tried Becker again! This time it was useless, was simply memorizing the answers, with 1 week to go I had the great idea to buy Ninja–wasted money, didn't even make it through the review stage–72. This time I went straight Ninja–probably about 2.2k questions attempted–Trending 86% Average 73-75% range. With 2 weeks I purchased Gleim during their cyber Monday deal. I've worked through them once and have looked over about 4-5 of them a 2nd time. Starting tonight I plan on starting them again from scratch rather then just reviewing them to see if that will help it stick better.

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

    #1371500
    jack yassa
    Participant

    Question please help
    “C” corp why do we subtract depreciation in excess of book
    and add Rent income in excess of book ?

    #1371536
    Sticky Nicky
    Participant

    Gak…to reconcile to M-1 or M-3,,,tax depreciation and book depreciation is a temporary timing difference,,,with rent its recognized when constructively received so there may be a temp diff from book to tax,,,those will reverse in later periods

    #1371615
    MAHMOUD
    Participant

    hey CPAs or future CPAs

    what does it mean that a shareholder has a ZERO or negative basis,
    I did not get this, like what exactly this mean from the accounting pointview, when the distribute earnings.
    or the shareholders their shares in their books ??
    need help in this

    #1371621
    Anonymous
    Inactive

    @MahmoudAnabtawi – Basis is used to calculate gains or losses upon disposition. It is used in for S-Corps and Partnerships. A member or partner should not have a negative basis. Furthermore, if the basis is 0 or negative, losses beyond 0 basis are disallowed.

    #1371650
    Sticky Nicky
    Participant

    basically u cant take losses when u dont have anything to lose,,,otherwise u, me, the entire world would do it and never have to pay taxes lol

    #1371656
    RE2PECT
    Participant

    @dtatham10- I'm pulling for you this time and really hope you pass! I'm curious to see if the Gleim sims get you over the hump. I haven't tried any yet, but the mcq's are making me feel stupid lol.

    @StickyNicky- Good luck bro! I'll be back in Purchase next month lol.

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

Viewing 15 replies - 1,921 through 1,935 (of 2,222 total)
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