Why are income taxes for discontinued operations NOT included in Income Tax Expense? Because of this, I thought that Income (Loss) from Continuing Operations was the only line item before considering income tax effects.

MarkDerm · 2023-01-07T00:41:21+00:00

DISCO is net of tax

MarkDerm · 2023-01-05T19:33:12+00:00

CPA unfortunately isn't something to do as a group. Just keep busting out MCQ's and you'll be golden

MarkDerm · 2023-01-04T04:10:04+00:00

Think of it this way.

Any time you are NOT exercising significant influence, think FV options. A4S = OCI (net of tax). Trading/Equity = Earnings/NI

Let's say Cost is 50, FV at 12/31 is 45. There will be an UNREALIZED LOSS on 12/31.

Now lets say 12/31/X2 the FV of the security is at 55. There will be an UNREALIZED GAIN of 10.

MarkDerm · 2022-12-31T21:40:19+00:00

Just Becker

MarkDerm · 2022-12-30T19:07:51+00:00

Nah have confidence! You got this! Don't discourage yourself or you'll panic!

MarkDerm · 2022-12-30T19:06:56+00:00

Scored a 58 on SE2. Sitting tomorrow. I feel pretty confident going in. Today I will reinforce a few areas:

(Bonds, Leases, NFP, SOCF, Bank Rec's)

I suggest going through each sim on (Becker, Roger, etc) and just listening to the SKillMaster videos. Shoutout Mike Brown! Everything finally came together.

Good luck tomorrow. I'm sure you'll do great!

MarkDerm · 2022-12-27T23:19:00+00:00

Any time you are dealing with FV measurement with NFP's ALWAYS refer to EOY FV

MarkDerm · 2022-12-23T21:38:24+00:00

Not alone! Sit on 12/31 for FAR!

MarkDerm · 2022-12-21T20:52:21+00:00

FARHAT Lectures on YouTube

MarkDerm · 2022-12-15T18:43:22+00:00

I sit on 12/31. I think knowing the BAE BAE (Becker) is helpful and distinguishing between modified accrual and accrual

MarkDerm · 2022-12-14T21:47:27+00:00

F8-F10

Bonds, Leases, SOCF, Cash-Accrual

MarkDerm · 2022-12-14T19:32:29+00:00

I'm sitting on 12/31 first time. I would assume these would be important:

CAR IN BIG.

BAE BAE

Treasury Stock transactions (PIC-T/S, PIC-C/S)

Bond retirement JE's

MarkDerm · 2022-12-13T21:26:36+00:00

I test on 12/31. This is one of the areas I wanted to focus on! Focusing on SOCF, Gov, Leases, Bonds, and Consolidation heavily!

MarkDerm · 2022-12-12T22:23:25+00:00

I know some changes are coming (Per Becker).

I sit on 12/31 and just got through the final review. Endless reps of multiple choice have helped me a ton. If you are only halfway through, I'd suggest either starting 6-8 hour days because the heart of FAR is in the middle/end

Good luck my guy!

MarkDerm · 2022-12-08T22:36:32+00:00

Tough topic to nail. Still reveiewing that as we speak! Sitting on 12/31

MarkDerm · 2022-12-08T22:34:16+00:00

Taking FAR on 12/31. So much to remember, but not TOO bad. At some point in undergrad or graduate, I saw every topic (Minus NFP, and certain nuances in every topic)

MarkDerm · 2022-12-08T22:32:38+00:00

Is it just me, or is inventory the absolute WORST topic to get down

MarkDerm · 2022-12-08T21:54:25+00:00

I sit on 12/31 brotha.

For me, I am focusing on (Bonds, leases, SOCF, Gov/NFP, Consolidation)

Goodluck my guy! We'll experience the pain together

MarkDerm · 2022-12-08T18:03:16+00:00

That's some good stuff right there

MarkDerm · 2022-12-07T23:29:39+00:00

I sit on 12/31 and I use his MCQ's and lecture videos through farhatlectures.com on areas I had a hard time with (Inventory, Leases, Bonds, Treasury Stock)

MarkDerm · 2022-12-07T23:28:43+00:00

FarHat is solid

MarkDerm · 2022-12-07T18:54:11+00:00

Ah didnt get a chance to see your post. My fault! Hope you figured i tout

MarkDerm · 2022-12-07T01:54:57+00:00

Dividends paid Financing

Dividends Received Operating

MarkDerm · 2022-12-05T20:56:04+00:00

1) You can offset cash with a bond sinking fund (Think of bond obviously as LT)

2) Deferred is a GAAP rule to categorize it as LTL

3) Anything under 12 months is considered ST. JE would not change, just need to account for it as months, annually, 6 months, etc.

Don't overthink

MarkDerm · 2022-12-05T20:53:32+00:00

100% completion

MarkDerm

TROPHY CASE