AICPA CPA Simulations: Financial Statements

[@ccrunner9723]

This helps so much! Many sims in far will require your understanding of multiple topics!

[@AccountingLectures]

100% Sims are no more than MCQ presented differently. Please check my FAR resources: farhatlectures.pathwright.com/library/by/category/cpa-exam-far/

[@luvpinas123]

This is really interesting because this is pretty much what we do at our firm when completing year end reconciliations for our clients! We check all the supporting documentation, client queries, finance documents etc, check that the GL details for each account are correct, complete and that no erroneous transactions have been processed in that specific account (like personal expenses), and then perform adjusting journals..

[@AccountingLectures]

Yes. It is challenging for students with no experience to look at these exhibits. It is intimidating specially for international students. You are most welcome. Please subscribe and share. If you want to access more resources, check my website: farhatlectures.pathwright.com Connect with me: Instagram Account: instagram.com/farhatlectures/ Linkedin: www.linkedin.com/in/professorfarhat/ Facebook: facebook.com/accountinglectures Twitter: twitter.com/farhatlectures Email: [e-mail]

[@antonmursid3505]

Antonmursid🙏🙏🙏🙏🙏

[@paulhan7770]

Thank you !

[@AccountingLectures]

You are welcome.. Check my website for more: ✔farhatlectures.com/ ✔Instagram: @farhatlectures ✔ Linkedin: www.linkedin.com/in/professorfarhat/ ✔Facebook:@accountinglectures ✔Twitter: @farhatlectures 🎤Email: [e-mail]

[@samanthapender2155]

to compute the interest expense for the end of the year why don't we reduce the carrying amount by the principal payment less the semi annual interest? So it would be 1,000,000 - 187500 and reduce the amount to 9,187,500? To then compute the year end interest expense? Just trying to wrap my head around it!

[@Alexis96650]

Should the adjustment to record the gain on the sale of the segment B be computed net of tax? I believe discontinue operations are reported net of tax.

[@AccountingLectures]

Yes, the discontinued segment is reported net of tax. Taxes of 60,000 were deducted on the next line.

[@zero-pk7hw]

thank you alot for all your help :) i have 1 simple question here , the tax liability , you mean income tax payable right ? as there is no info regarding temporary differences ? 25:15

[@sameer209]

why have we taken the LIBOR interest rate of 1/1 and 7/1, interest are accrued when due so interest rate should be taken on the accrual dates of 7/1/5 and 1/1/6.

[@mikesklodowska766]

Sir.. plz create a playlist for these video classified from cost, audit, FAR ect.. Thankyou 😊

[@AccountingLectures]

hi Mike. Check my my website: www.farhatlectures.com

[@antonmursid3505]

Antonmursid🙏🙏🙏🙏🙏🇲🇨