I will be taking FAR tomorrow afternoon, and I feel pretty confident for the most part. SE1 I got a 75 even and SE2 I got an 80 with a few mistakes that I feel have been corrected. I am just looking for advice on what works for you guys during test day, what didn’t work, how’s the wording of questions compared to Becker, what’s the diff between Becker TBS and Exam TBS, all that good stuff.
Someone help me understand this. So if we receive payments September 1, Dec 1, and March 1 of every year, and the question implies the university has been in operations and reports financials by calendar year, wouldn’t the cash received on March 1 Year one be received and fully recognized? Then the cash received in September 1 year 1 be fully recognized. Then December 1 would be received and one half recognized (which I why I put debit deferred rev 75,000, because we are recognizing it)
Newton is telling me “it’s not apart of the academic year” but if your financials are reported by calendar year, wouldn’t that make the academic year completely irrelevant? The fact of the matter is the we theoretically received cash on March 1 in year 1, so even if it belongs to “academic year 0” we still received the cash in year 1 and provided the services year 1.