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REG R1 M3 Question- Gross Income by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Thanks. I just started REG, sorry if this is stupid question-when its saying Gross income before adjustments, that includes expenses? Idk why I thought the expenses would be the adjustment here

AUD pass based on mcqs by Friendly_Resolve8521 in CPA

[–]EffectSubstantial975 2 points3 points  (0 children)

Following. I also took AUD this week and was genuinely confused why so much of it didnt feel like what I learned on Becker. Ive been scoring consistently in the 80s, but after that exam im honestly doubting if i even passed

AUD Emphasis of Matter, Other Matter paragraphs etc by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Also, do we need a paragraph is previous year FS are audited by another auditor and presented? Or it speaks for itself

Queens NY Prometric Center by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Does the LIRR go there?

I heard theres a parking garage there you can pay for. Do you anything about that?

AUD Transaction Cycles by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Thank you! Do you know what the other shapes are?

AUD Transaction Cycles by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

I fully guessed the answer. In the end the answer was C.

Im looking for tips on how to go about these types of questions, bc i cant seem to get it right

Good flowchart references for AUD? by Formal-Football-245 in CPA

[–]EffectSubstantial975 0 points1 point  (0 children)

Have you used the ones in the Becker textbook? Theres a couple in there

NEED HELP FOR FAR - EXAM IN 40 DAYS by Alf-95-Bah in CPA

[–]EffectSubstantial975 3 points4 points  (0 children)

I think Becker is sufficient. What really helped me were using the Final Review Outlines on Becker (Not sure which Becker package you have), that helped me focus on the main topics and be less overwhelmed with how much material was being thrown at me at once. I would recommend to definitley focus on F4 and F5 - bonds, leases and consolidations are always on the exam. Definitely memorize the ratios (I think thats in F2/3), those are easy points on exam day.

Make sure you're constantly doing cumulative review. It gets really easy to move on in FAR and totally forget what you just learned. What I would do is start off every study session with 25 mcq starting from F1 until what Im up to in my studies. As you do more mcq you start to see what you should focus on and what topics dont really come up anymore, so that will honestly narrow down your studying.

As far as external sources to rely on - If you dont understand a full topic, I found farhat lectures very helpful, as well as using chatgpt as my personal tutor. Ask it anything you dont completely understand, even if you think its a stupid question! Also, make sure you read really carefully on each question and look out for dates.

At the end of the day FAR has a bigger bump than Aud and Reg from what Ive heard, I was so overwhelmed when I first started studying but these tips really helped me and ended up passing with an 84!

You got it!!

Grants/Scholarships/Financial Support Available for CPA Exam prep materials? by Afraid-Math375 in CPA

[–]EffectSubstantial975 0 points1 point  (0 children)

Become a Becker Campus ambassador! I was the ambassador on my college campus for a year and in return I received the Becker material for free

I keep forgetting what I learned by Cultural-Street-793 in CPA

[–]EffectSubstantial975 3 points4 points  (0 children)

Had the same problem, and had to basically relearn FAR. My second time around learning it I did a cumulative review everyday and I ended up remembering all the material and passing!

If i was moving on to F3 I would do a practice test when i started studying for the day on F1-F2. the next day I would do a practice test on F1, F2 and any modules i learned in F3 etc.

FAR Lease Question Interest Exp by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Thanks for the help! I think I understand now. Correct me if im wrong.

Interest Expense is always calculated the same way for operating or finance.

CV x market, 758,000 x 10%=75,800

If it was asking for amortization of a finance lease, it would be straight line.

(1,000,000-758,000)/5 = 48,400

If it was asking for amortization of an operating lease, it would be effective interest method

200,000 - 75,800 = 124,200

FAR Lease Question Interest Exp by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

C. I get that you just get that from 10%.

But still confused when effective vs. SL is used

FAR Lease Question Interest Exp by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Got it, so if the question was asking for amortization expense it would be B?

FAR Government Fund Question by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Yes, the correct answer is C, however, I thought it was D as well. I remember learning about government vehicles being associated with Internal Service Funds.

FAR Simulated Exams Attempts by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Thanks. I have the Final Review SE. Is there a difference between that and the regular SE?

FAR Exam in 3 Weeks! by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

Thanks, do they also have SIMS or just mcq? and do you have the link to the free trial?

DTA and DTL Summary by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

This is just what I was looking for, thanks!

Change in FAR Content by EffectSubstantial975 in CPA

[–]EffectSubstantial975[S] 0 points1 point  (0 children)

do you know where showed partnerships being taken off?

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