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AICPA Release Questions-FAR-May 2020-Narrated Answer Explanations by Darius Clark-FREE!

In May of 2020, the AICPA released dozens of Multiple Choice Questions that had recently been tested on the CPA FAR Exam. When NASBA and the AICPA release these questions, they release the letter answer without the explanations. Candidates should have an understanding of these questions before going to the Prometric Testing Center but be sure not to obsess over any one particular question as these questions are NOT likely to appear on the exam in the exact same format. For that reason, Darius Clark tries to anticipate what the next question might look like based on the question that was released. Because Darius works with CPA Candidates and CPA Review material every day, he knows better than most what the CPA Exam is likely to ask with regard to any given topic. This is the first of the FAR video series where Darius narrates and explains the AICPA FAR Questions from May 2020. The complete presentation appears in the i-75 CPA Review Course in the last Chapter of i-75 FAR. Some of the topics that were tested in the i-75 FAR release questions were Inventory and consignment, statement of cash flows, fixed assets and depreciation, deferred tax assets and deferred tax liabilities, discontinued operations, financial instruments and derivatives, hedging, FASB framework, pension accounting, fair value framework, accrued vacation pay, stock dividends, gain and loss contingencies, Fund accounting, reconciliation of modified accrual to full accrual on the government wide financial statements, impairment testing, other comprehensive income, bank reconciliations, enterprise and internal service funds, sales tax, bonds, fair value hierarchy, not for profit accounting, IFRS component depreciation, amortization of capitalized software costs, revenue recognition, lease accounting and so much more.

AICPA May 2020 Release Questions FAR!

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