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Subject Topic: changes in accounting tip... (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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rchxenson
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Joined: 22 Feb 2009
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Posted: 22 Apr 2009 at 12:41 | IP Logged  

just trying to remember everything we need to for this section and I came up with the follow to remember changes in accounting and how to account for them:

what do you do to get ready for the CPA exam?

PREPARE(R)

Principle - Retrospective

Estimate - Prospective

Adjustment - Restate

Entity - Retrospective

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tgisgrl
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Posted: 22 Apr 2009 at 12:48 | IP Logged  

That's clever. Although I have to say I did not use any of the mnemonics that Becker threw at me at the actual exam.

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1st attempt on all 4 sections:
AUD - 83 (taken May 2008)
REG - 85 (taken May 2008)
BEC - 78 (taken July 2008)
FAR - 79 (taken Aug 2008)
ETHICS - 90 (barely passed)
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rchxenson
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Posted: 22 Apr 2009 at 12:51 | IP Logged  

tgisgrl wrote:
That's clever. Although I have to say I did not use any of the mnemonics that Becker threw at me at the actual exam.

I haven't found them useful in any other section (only took reg) but with this one, I feel like the more I can retain, the better I will do (since it's such a huge section).

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MBKcole
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Posted: 22 Apr 2009 at 21:24 | IP Logged  

I think there are definitely some acronyms that are real lifesavers. Basically if i ever see a pension question I am always doing SIRAGE to find out the periodic pension expense.

Service Cost
Interest Expense
<Return on Plan Assets>
Amortization of Prior Service Cost
<Gain> Loss Amortization
Existing Net Obligation Amortization

The other one's are really good too but for me this one is one i will definitely remember come test time.




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BEC - 81 (Scored 3/17/09)
AUD - 87 (Scored 6/19/2009)
FAR - 83!(Scored 5/20/2009)
REG - 79! (Scored 9/22/2009)
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sonykiss
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Posted: 24 Apr 2009 at 15:12 | IP Logged  

I thought retrospective and restate means the same? Please explain. Thanks.

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sonykiss
"Perseverance is the Doorway that Leads to Success."
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