[Troys22]

I don’t know if this question is allowed or if other candidates are able to answer this question but I have been mastering bonds because I feel like this area will be pretty heavily tested whether MQ or SIM. Can any recent FAR takers confirm my assumption that bonds journal entries were a pretty heavily tested area? Again, if this question is too specific then disregard or delete from forum. Just trying to figure out where to allocate my review time. Thanks all!

[jenpen]

There is definitely a possibility of getting something like that on the exam. Bonds are pretty heavily tested, so you definitely need to have a pretty firm grasp on them. I feel like I had a SIM on it, but honestly I don't really remember exactly. I took it last October.

AUD - 56 - 68 - 61 - 9/8/16
REG - 75
FAR - 7/15/16
BEC - TBD

Wiley CPAexcel and NINJA 10 Point Combo

[Operation_CPA]

Although I cannot get into the specifics of what I saw on my particular exam, I think the general rule of thumb for FAR or to know your JE's inside and out – and this includes bonds. In my opinion, knowing the JE's in this area helps tremendously on the MCQ, as you can back right into answers on the MCQ.

For your final review, hit all the big areas for journal entries and you should be fine. Best of luck!

[Anonymous]

Exactly what @Operation_CPA said..but also do not try short-cut by predicting which material is going to be tested heavily or not on the actual exam. Just study everything reasonable enough to do in order to pass because you're never going to know what you're going to get on the test date.

[Anonymous]

You're 100% right, you could get MCQ or SIMs on bonds. I just posted in another thread below this one, that you need to use amortization tables in order to really master bond amortization.
Actually amortizations are useful for lots of things but especially bond carrying values. A classic question is “give the bond carrying value on date MM/DD/YYYY.” You should be familiar with how bonds affect certain balance sheet accounts (like, if you've issued bonds and are paying interest to the holder, how does that affect retained earnings?)

[Author]

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