Insights about the MAY 2017 CPA Board Exam

! Taxation
Mostly application yung karamihan, like 50 out of 70 siguro
application. Yung iba capsule problems yung iba naman audit type
problems, multiple assumptions.
Halos lahat ng taxes covered special mention pang sa Radio and TV
Broadcast, International Carrier, Past Service Cost, Life Insurance
Premiums. Technically, lahat ng klase ng tax lumabas, Business
Taxes, Transfer Taxes and Income Taxes. Mostly tax due and
pina-compute hindi lang taxable income unlike last October 2016.
Overall, mahirap pa rin.

! RFBT
Some questions are repeated. Kung na-master mo diagnostic
exercises ni Soriano. Makakasagot ka talaga. May mga parehong
tanong na lumabas. Majority of the questions are from Partnership
and Corporation Law. Hati ang dami ng items ng objective at ng
situational. Pero enough yung 3 hours para mabalikan mo ulit lahat.

! Auditing
30/35 theories are from the special handout na kumalat before
boards. Yung may tatlong airplane emojis at puro A ang sagot.
Bawing bawi talaga sa theories kung naaral mo yun.
Problems are different from the last board. Maraming sources. Pero
answerable naman siya. Hindi masyadong mahahaba yung problem.
Sakto lang, may mga tables nga lang na presented sa last part ng
questionnaire kaya hassle maglipat ng pages habang nagsosolve.
Audit of cash, inventory, liabilities, current assets, and share-based
compensation mga lumabas. Walang lumabas about the new
standards.

! FAR
Ang hirap ng theoretical part. Di ko alam san kinuha yung mga yun.
May isang questions na hindi tinuro nung undergrad/review. Meron
din namang purely concept. Same type of problems naman sa
situational. Capsule problems na pinagdugtong-dugtong. Magulo.
Mostly yungg tinatanong Total SHE, Total CA, and Total CL/NCL. May
lumabas din na Accounting for Income Tax, Employee Benefits,
Inventories, Investment Property, Investments, Leases, Share/Cash
Alternative, AR, etc. Nagpacompute ng Inventory TO and yung EPS,
WANOSO lang pinacompute.
Overall, mahirap siya kasi ang daming problems.
! MAS
10 pages lang sya. Kaya nung dinidistribute palang, alam ko nang
mostly short problems or theories. Distributed ang topics. May
Capital Budgeting, Relevant Costing, CVP, etc. Yung Financial Ratios
naglalaro sa DY, DPO and PER. May BV per share din. Wala atang
QualiTech. Yung economics sa Wiley mostly kinuha, pati yung ibang
problems. Mejo kaya syang matapos in 1 hour and 15 minutes. Kaya
may chance kang mareview thrice.

! AFAR
May mga naulit na tanong last October. Dito din lumabas yung mga
theories ng SMEs. May theories din about NPO and Government
Acctg. Tatlong problems for Joint Arrangements. Yun yung mahirap
na part ng exam. CRC-ACE talaga kinuha mostly. Yung installment
sales, divided by 2 lang ang amounts. Yung Joint Cost allocation,
kopyang kopya. May isang problem sa ForEx na adapted from
Guerrero. Isang LTCC lang lumabas. May tatlong problem na
lumabas sa Partnership. Computation ng Weighted Average Capital
at share in P/L yung questions.
May naulit na tanong sa Partnership yung computation ng
contributed capital.
May tatlong problem din sa Franchise. May lumabas ding isang
Process Costing at dalawa atang Job order costing.

! Overall Assessment
Mahirap pa rin siya. Nakakalito yung ibang questions. Yung ang
tanong income/loss taken to Financial Position, so dapat cumulative
siya. Yung iba naman gain/loss ang tanong hindi pa naman
nabebenta, so dapat unrealized gain/loss pa dapat yun. Kaya
mahirap sabihing madali kasi may masasagutan ka, meron din
namang hindi.

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