CPA Study Group

Team up with fellow candidates and conquer your exams.
Get your FREE CPA Questions Now
    CPA REVIEW FOR FREE - New Features and Updates
    support - 01/16/2019, 2:46 pm
    Welcome to the brand new CPA Review for Free! We’ve made a lot of changes to our study platform for both free and premium users. We now offer a subscription plan called [CPA REVIEW PLUS+](/upgrade). We are very excited about the features available in this plan. **DASHBOARD** There’s a brand new landing page when you enter the study platform. For PLUS+ subscribers this dashboard will give you a broad view of your performance, your recent study sessions, recent exams, and much more. **PRACTICE EXAMS (PLUS+)** They’re finally here! You can now take practice exams for AUD, BEC, REG, and FAR. These practice exams are virtually identical to the real AICPA exam and include all the tools and functionality offered in the real exam. **SIMULATIONS (PLUS+)** We now offer in-depth simulations within our practice exams. These simulations mirror the real exam simulations and better prepare you for all aspects of the test. We would love to hear your feedback on these new features, feel free to contact us or post right here in the community forums. Thanks CPA Review Support
    General
    4
    G
    Passed REG
    Gabriele-19406 - 05/23/2019, 4:43 pm
    Just received the results, and I passed REG with a score of 91. For this exam I relied even more heavily on CPA review for Free because my study guide did not have the new tax reform changes (I did not want to purchase an updated version). The difficulty level of the questions on the site is very comparable to the exam. And the simulations are a plus. Thank you again for providing this affordable resource. I have BEC left and will attempt this sometime this summer.
    Test Results
    1
    Taxable Depreciation Expense Allocation Can you help?
    Caroline-91970 - 05/20/2019, 9:39 pm
    I understand why they're only allowed to depreciate 10% of the adjusted basis (not FMV) for tax purposes. However I don't understand why David - the partner who didn't contribute the property - is allowed to take the depreciation deduction of $400 on the property, but Robert is not? Why don't they both just take $200? Is it because David contributed cash?
    REG
    0
    No depr. Can you help?
    Ryan-12701 - 05/17/2019, 9:26 pm
    I'm guessing under this method you only have depr. if you sell something? There's no depr. yr 2?
    FAR
    0
    Cost of Goods Manufactured Can you help?
    Brittany-22234 - 05/17/2019, 4:01 pm
    One would think material flow from “Cost of Goods Manufactured” moves to “Finished Goods.” Unless sold, the question leads me to think it remains in Finished Goods “Inventory” and reflect on the Balance Sheet.
    BEC
    0
    10 YR BONDS
    Ryan-12701 - 05/16/2019, 8:03 pm
    The US gov may also have 7 yr bonds. What's so special about the 10 yr bond?
    FAR
    1
    D
    20% - 25% Stock Dividend Can you help?
    Diana-3992 - 05/16/2019, 7:55 pm
    I thought this subject was out the scope of the CPA exam
    FAR
    0
    Z
    transfer prices Can you help?
    Zineb-2710 - 05/15/2019, 6:58 pm
    One question of Corporate Governance Financial Markets and Risk Management section is confusing to me: The explanation makes sense: it says to minimize tax burden by minimizing net income (higher purchase costs) in jurisdictions with higher income tax and maximizing net income (lower purchase costs) in jurisdictions with lower income tax rates. However, the supposed correct answer “it is advantageous to maximize sales price to sub with lower income tax rate”, I think is wrong and says the opposite of the explanation – doesn’t this statement mean higher net profit for the parent (since they want to maximize the sales prices) and lower net income for the sub (the sub will buy for higher purchase costs)? Thanks to all for your input
    BEC
    0
    F
    Budgeted income statement is correct Can you help?
    Frank-90500 - 05/15/2019, 12:45 am
    Per Wiley April 2017 CPAexcel Exam review study guide the master budget is composed of several coordinated parts which are the operating budget, financial budget and the capital expenditures budget. The Operating budget which consists of: Sales budget, production budget, production cost budgets, and selling and administrative expense budget. The financial budget consists of: cash budget, budgeted (or pro-forma) income statement, and budgeted (or pro-forma) balance sheet, and the last part of the master budget is the capital expenditures budget. So how is the budgeted income statement not the correct answer to this question?
    BEC
    0
    L
    Audit Objective Can you help?
    LAURI-54946 - 05/14/2019, 2:34 am
    Accuracy is not an audit objective!
    AUD
    0
    Posts per Page 10 20 30 50