Be Prepared for a Consolidation Simulation | Universal CPA Review | Consolidations FAR CPA Exam

[@rajashrimahabalesh4867]

I am preparing for my FAR CPA Exam and was struggling with consolidation for days! this one video has made the topic so very clear, thank you so much for this. Im a new subscriber now!

[@arunnk786]

What's the logic behind deducting equity earnings from sub. for consolidated income statement? Could you elaborate on it.

[@bernadettegoratowski4865]

I am very confused. Do you eliminate as of the beginning of the year or the end of the year?

[@junli-chapman5984]

isn't over 50% should be acquisition method vs equity method - why would CFO letter calls for equity method? also where is the NCI of 100k at the beginning of the balance sheet?

[@Rushikesh-m9u]

if we look at the questions I could easily answer all the questions without making consolidated F/S , just need to do working notes for each question

[@JP-bo1nk]

If the interco. sales were not 100% sold by Sand, the elimination entries will extend to balance sheet(inventory) right,? then the eliminations on balance sheet become more complicated, can you please make a video for that senario? thank you!

[@siddharthdhanwani2224]

yes that's right

[@freezii_lee-n1k]

This was great, thank you

[@mohamedhassen4100]

Can you please explain bank reconciliation

[@JP-bo1nk]

Very well explained, thank you!

[@universalcpareview]

Glad it was helpful!

[@vijaychandra-b8m]

Where is the excel file?

[@JeffEpp-nh8dy]

I am so fucked for this exam

[@universalcpareview]

Glad to help!

[@Aamir1227]

Lmao

[@tvdagdag]

Is there a print out of this simulation?

[@universalcpareview]

There is not. The simulation can be found in the FAR section of the Universal course

[@user-bo1ef4kk1h]

Nice explanation but also kill me

[@ylen13]

Just take EA exam and be done with it. No need for higher education, no need for 1 year of experience under CPA. Pass 3 exam that is much easier compare to CPA and you're done. You're licensed by IRS.

[@universalcpareview]

If you only want to work on tax returns, then yes. But a CPA license gives you the opportunity to way in roles outside of tax.

[@magicmollieee]

how much do you make as an EA? as much as a CPA?

[@ylen13]

@@magicmollieee In own practice, yes as much as CPA and even more if one to join tax court to practice as EA lawyer.