CPA FAR Exam- 5 "Must Know" Multiple Choice Questions by Darius Clark!

[@yhonllanos2060]

I am wondering why in the hell do you not have more subscribers. Your videos are so helpful. Every single other CPA focused channels are a complete waste of time. They just 1. Talk so much. 2. Digress a ton. 3. In their 30 minute videos only include about 2 minutes of info for the exam. I am exagerating, but anyways. You are great man. Thimbs up from me.

[@mauricioalejandro74]

Lmao

[@edstrazz2758]

Your explanations are so clear, concise, and easy to understand. Thank you!

[@pacificreef6391]

Hey Darius from Saipan, I'm so stressed of the coverage of the exam but the guitar guy at the end of your lecture is like loosening out my stress level....thank you

[@Alhilal90]

Thanks for sharing these questions! for the 3rd question, I didn't know it until I watched your video.

[@Dirtbike_Luke]

Driving to take far now… appreciate the couple extra points my guy

[@abdulchowdhury8332]

Hey Darius, I really find your videos really helpful. I only have FAR left, and I am already feeling overwhelmed with amount of materials FAR contains. I knew I would struggle with FAR because accounting is not my strong suit. I guess my question is, is your course good for someone that needs to be explained materials as simplistic ways as possible? I don’t want to really get another course n overwhelm myself but really like your videos, thank you

[@Rukhsar_sah]

your explanation is fabulous sir i loved the way you explain

[@cpj19355]

Great videos Darius! Thank you.

[@boybakergg]

I hope the question can indicate it is a 1 to 1 conversion for the convertible preferred stock to common stock...It took me 1 min to think about... Thank you!

[@CPACareerPaths]

Great video. Thank you for sharing those questions!

[@guruguruprasath7980]

Nice explanation 👍

[@youknowwho444]

thank you!!!

[@goddoesntlikeugly]

Wish you would have shown the journal entries for #3. Initial should be Debit Software $2M and Credit Cash $2M for the purchase/cost. Then Debit Amortization Expense $600K and Credit Software $600K? Not sure.

[@ShayCasey]

Is my understanding wrong on #1? Since it is determined at the beginning of the 5th year of depreciating the asset, wouldn't that 5th yr also be included in the calculation? Yr 1: 2400 Yr 2: 2400 Yr 3: 2400 Yr 4: 2400 1/1/Yr5: added another 4yr to life 12,000 - (2400*4) = 2,400 carrying value / 5 12/31/yr5: 480 12/31/yr6: 480 12/31/yr7: 480 12/31/yr8: 480 12/31/yr9: 480

[@Bt2027]

His is right because they realized the asset is going to be useful for another 4 years aka 1 year (since the year has just started) + another 3 years. Hope this makes sense

[@claudiapastorahdez6177]

Good video

[@mayankjain4871]

Why did you add the preferred stock in basic EPS cal though?

[@kaysmith9722]

I agree, I thought we do not include any convertible preffered stock to the basic EPS. It will be included only in the diluted EPS.

[@lekhagoyal1893]

While preparing balance sheet both equity and preference shares are added then EBIT is calculated and the initially we calculate EPS

[@weiwu1929]

It stated in the question as provided information that those PS were actually converted on Oct 1.

[@savannastreet7]

Because they were actually converted before the balance sheet date

[@Tom-nn5wd]

@@kaysmith9722because it was actually converted, and not theoretically converted like under the if converted method

[@dianaarangove]

thanks!

[@guruguruprasath7980]

Revenue recognition

[@nirmallakhesar6137]

Hey Darius, I wanted to clear this far foundation subject but I have failed in my first attempt. Can you help me with this ?

[@111NAB1]

thanks a lot, dude great job kind regards

[@richardwang1007]

What’s the another way to calculate at the end? Then it changes to songs like wtf lol

[@DariusClarki75]

120,000 shares were outstanding for six months, 120,000 X 6/12 = 60,000 shares. 40,000 more shares were issued on 7/1 resulting in: 160,000 shares outstanding from July 1 to October 1 160,000 X 3/12 = 40,000 shares 10,000 more shares were issued on 10/1 resulting in: 170,000 shares outstanding from October 1 to December 31 170,000 X 3/12 = 42,500 shares Add 60,000 + 40,000 + 42,500 = 142,500 Both methods will result in the same number of shares outstanding.

[@AabhasBhardwaj]

Thank you ..please share for audit and how to clear audit

[@salonijain3661]

Hello sir. What is the length of questions.? I m scars what time management.

[@themoneydiva]

The end...😅🙃

[@hannahbananas11]

Do these rules still apply? What would happen if discounted CFs were also included in the question? T.I.A.

[@DariusClarki75]

Which question?

[@hannahbananas11]

@@DariusClarki75 Goodwill impairment loss

[@mauricioalejandro74]

Quick question. I have 9 years of accounting experience under my belt and plan to sit for the cpa exam next year. Do you think this experience will help me to some degree for the FAR exam?

[@DariusClarki75]

You will know very soon once you start studying. The exam requires you to know something about so many different...

[@dirtymike3329]

Is the whole cpa exam really this easy? Or are these just the basic questions?

[@TheFloodFourm]

“There is no greater danger than underestimating your opponent.” - Lao Tzu I believe these are just very simple examples used to focus your attention to specific concepts

[@dirtymike3329]

@@TheFloodFourm I think you are absolutely correct. I was just curious because I stumbled across this video and I’m not actively pursuing a CPA. The more I looked into it, the breadth of information covered is more than I initially thought. Still seems doable, just not as easy as it seems from this video.

[@dieuthanh-natalienguyen6574]

Thank you!