[DZagt]

Foreign transactions and derivatives,

The concepts seem simple but then you get to a problem and I never get them right. I’m using Gleim. Any pointers?

[Soon2baTXCPA]

I remember studying that topic on Gleim. I wouldn't stress it, but I would understand the JEs and the basic concepts of where the G/L on derivatives are reported depending on use. Passed with an 83.

[DZagt]

I have no idea what you mean by that. That's how lost I am lol. I'm doing well on the other parts but for some reason this one isn't sticking at all. I went to listen to Jeff's audio and he kind of just tells you what it is..like a definition. So I'm hoping that means calculations wont be heavily tested, lol.

[Yaz88]

Know the effects of derivatives gains and losses.. is for speculative purposes?? is it a fair value hedge? cash flow hedge? as those will differ in the treatment and where it is shown in the income statement or Balance sheet.

Split them in to, as I think foreign transactions are easier to know and to work, Derivatives can get tougher the more you dig deeper.. but just know their effects and the purposes of hedging to know how it effect the financial statement and where in the Financial statement, as this will be seen a good base of knowledge.. If you know thier effects, then JE's are easier to determine

[Soon2baTXCPA]

Yaz88 explained it really well. To comprehend that topic using Gleim, I did a lot of questions in the “Study Session” if you have access to the Mega Test Bank.

[Bonk]

Like the others said. I would make sure you understand the concepts and remember the main points. I also have Gleim and FC was super confusing to me (and still is) but I suggest not waisting too much time on it. The details aren't going to be as deep as your ACC501 class. Probably should know the JEs incase you get a TBS on it!

FAR: 85
BEC: 84
AUD: 74, 83
REG: ??

[MaLoTu]

It is tested, but I wouldn't say heavily.

[cpagal]

i would say I had a question or two on the exam on hedges and derivatives. I would also say that I totally don't understand them and still got a 90, so don't stress, as it isn't a heavily tested topic.

FAR - 08/30/15 - 90
AUD - 11/12/15 - 92
REG - 01/19/16 - 82
BEC - 02/29/16 - 83

Passed all on 1st attempt using GLEIM (full program) and NINJA (MCQ only)!!!

Louisiana Licensed CPA

[Author]

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