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fa,fa,fa... ?!!!!!!!!!!!!!

30 days before the exam

【4:15 a.m.】
Good morning!

I was half asleep, but tried 30 MCQs from GLEIM-FAR.

The result was

I got awakened now!!

*** 今日の駄洒落 ***

FAS57: Related Party Disclosures

FAS2: Accounting for Research and Development Costs
研究開発。 けんきゅうかいはつ。 ケンキュウカイハツー(2)

by nn_77 | 2006-06-30 04:26 | USCPA (general)
31 days before the exam

I took a day off today! And, I happened to have received two questions regarding FAR from a friend of mine today. So I tried my explanation below. Forgive me to put it in English, because, I think & type faster in English as is the case with many of you.

Before you read the following report, please be noted that I didn't refer to any particular textbook or anything. Besides, I haven't passed FAR, not to mention AUD, REG, and BEC. So the following trial explanation of mine could be wrong. Please verify by yourself whether or not I'm wrong. Sorry.

(Question #1)
It’s hard and troublesome to understand FACTORING. Especially I cannot distinguish between FACTORING and PLEDGE (ASSIGNMENT). Do I have to just memorize the journal entry for these transactions?

(Question #2)
And next about CASH FLOW. Why do they categorize DIVIDENDS PAID as FINANCING ACTIVITY, while DIVIDENDS RECEIVED are categorized as OPERATING ACTIVITY?

【nn’s Answer for Question#1 】

It’s confusing if you try to learn FACTORING & ASSIGNMENT together just because they are both related to A/R.

Please understand them in a totally different context.


  First, let’s talk about assignment. This is very simple. ASSIGNMENT is an action to collateralize the existing (and sometimes prospective) A/R for LOAN.
  The loan secured by this action could be in the balance of N/P; the loan that was made earlier and still remains. In this case, there’s no particular journal entry to be made. Only required is some disclosure treatment: A/R assigned should be disclosed parenthetically or the notes to the F/S should be made.
  But there could be another case: the loan secured by A/R assignment could be an "additional" amount of loan which is made on the condition that some A/R is assigned for the loan. In this case, you have to credit N/P and debit Cash for the loan proceeds. But remember that this journal entry for N/P is nothing special!! You always do this journal entry whenever you borrow money!
(There’s another type of assignment called “specific assignment,” which requires some special journal entry. But I don’t refer to it today.)


  This is a Sale of A/R. Once A/R is sold, the buyer (the factor) collects A/R directly from customers. If you sold you’re A/R, of course you have to erase A/R off the book, because you sold it. And, in return, you have to debit the cash proceed as current asset, and also have to debit some charges & fees (= factor’s holdback) as expense. Of course you cannot receive enough amounts of cash proceed, because the FV, or NRV, of A/R you sold is smaller than BV. (That’s why you sold it out!) The difference is treated as Loss. So, the journal entry is:

Cash  1,300     | A/R 2,000
Factor’s HB  300  |
Loss 400         |

  The above entry is made when you sold your A/R without recourse liability. But, at times, the buyer (= factor) wants to avoid the risk of uncollectibility. In such a case, the factor demands you to sell you A/R with recourse, which means you are obliged to buy back the A/R from the factor when the factor fails to collect the A/R by itself. If you sold your A/R on such an unfavorable condition, you have to accrue the LIABILITY for that for fair presentation.

Cash 1,300     | A/R 2,000
Factor’s HB 300  | Liability 100
Loss  500       |

  That’s all for Question #1. Again, the point is that ASSIGNMENT is not anything special. ASSIGNMENT refers to a situation, in which a company borrowed some money from a bank, and the bank required some collateral for the loan, and A/R happened to be collateral instead of its office building, its factory, its investment securities, or any other properties that could have possibly been collateral for the loan.

【nn’s Answer for Question#2 】

  And next about CASH FLOW. Why do they categorize DIVIDENDS PAID as FINANCING ACTIVITY, while DIVIDENDS RECEIVED are categorized as OPERATING ACTIVITY?

  I recommend you to first check out my report about CF which I wrote May 27. 2006, because I explain the general explanation about how to understand the three types of CF classifications without confusion.

  After you read the above report of mine, I hope you’ll find today’s your question #2 very analogous.

  The point I noted in the above report is that there’re two different perspectives: Borrower’s (Investee’s) perspective & Lender’s (Investor’s) perspective.

  DIVIDEND PAID is a cost which is incidental on financing a certain amount of money, which is obviously FINANCING ACTIVITY.

  DIVIDEND RECEIVED is, on the other hand, a regular cash inflow, which is similar to bank deposit interest. It’s collected and recorded as other revenue in the income statement. The collection is often made on annual basis, which goes along with most companies operating cycle. So, from investor’s perspective DIVIDEND RECEIVED is quite similar to INTEREST RECDEIVED, the cash inflow of which is also categorized as OPERATING ACTIVITY.

  Well, that’s all about it. I really appreciate it if you were patient enough to read till here!

  If you have any further or related question, please ask me. I’ll answer either in English or in Japanese as you specify.

  But, again, please be noted that I haven’t passed any of USCPA exam subjects yet. My understanding and explanation here on my blog could be wrong, so please verify nn’s report by yourself! Thank you.

  I'll be up all night tonight!
by nn_77 | 2006-06-29 14:54 | >FARE

Tools to prep for RESEARCH

32 days before the exam

【1:00 a.m.】
Good Morning!

   I went to bed 10:30 last night, so I slept for about two and a half hours last night. Sleeping hours at night is getting shorter day by day. But, unfortunately, I’m not a man of strong mind. So, I’m half asleep during the daytime, compensating the short sleep at night. I sometimes notice I’m asleep on the bike. And, this morning, I was almost collapsing to fall down from the top of the stairway in the station.
I’ve gotta be very careful not to trouble other people. I shall NEVER bother people due to my personal problem.

   I’m preparing for RESEARCH question by using some searching site these days.

   U.S. Tax Code On-Line is the one for REG. I knew about this because a guy on the CPA-NET FORUM kindly introduced this website to me.

   AICPA Resources is for FAR and AUD. This is very useful as well, and I learned about this from people I met here on my blog and the regular off-line meeting (定例会).

(The links to the both websites are now listed on the right column of my blog →. )

   So I’m really helped a lot by people I came across on the internet world.

   Not many days are left for me. So I have to keep working hard to do my best (to the extent that I don’t annoy other people during the daytime, which I definitely have to bear in mind! )

*** 今日の駄洒落 ****
IRC 706: Taxable years of Partner & Partnership
 「俺、Partnerになったんやけど、PSとTaxable yearズレてるからややこしいわ!」
by nn_77 | 2006-06-28 00:54 | USCPA (general)

nn's Law !

Unfortunately, today I got assigned so many projects at once. All are due on July 31… What a BAD timing!

According to Murphy's laws site,
“Good luck is inversely proportional to good timing.”

I would modify the law as
“Bad luck is proportional to bad timing.”

When can I sleep, then? ---- I wonder myself...

*** 今日の駄洒落 ****
FAS 115: Accounting for Certain Investments in Debt and Equity Securities

FAS 109: Accounting for Income Taxes
 いわく(109)つきのDiferred Tax。理解すんの、めっちゃ大変。
by nn_77 | 2006-06-27 12:43 | 仕事








加えて、TOEICのスコアは、その時点での時価評価(present value)であり、時が経つと、簿価(historical value)になります(笑)。身体測定の身長や体重と同じようなものでしょうか。「3年前の体重は60kgでした」って言われても、困りますよね。私も、たまたま(一生分くらいの運を使って)前回のTOEICで990点をとりましたが、今もう一度受けたら、(impairment test!)多分100点くらいあっさり落ちているような気がします。そんなコトは、採用サイドもお見通しなので、結局、転職しようと思ったら、もう一度受けなおして、頑張らないといけません。

運営側のTOEICのQ&Aでは ・・・

Official Score Certificate(公式認定証)の有効期限はいつまでですか?
TOEIC運営委員会としてはOfficial Score Certificate(公式認定証)に有効期限は設けておりません。

・・・ とありますが、評価者の目はもっと厳しいと思います。


1. 転職時期を考えて、「いつ頃」、「どれ位」のスコアが必要かを考える。





なんじゃ、そりゃ、って? そうですよね。。。

でも、例えば、同じTOEIC600点の人が二人いたとしても、それぞれの方の英語力向上作戦は、当たり前ですが、やっぱり、同じとは限りません。 それぞれの方が、自分の弱点を分析し、それを克服するような勉強方をあみだすのが本当に一番だと思います。



例えば、私は今、自分の英語力(特に、Writing, Speaking, Listening)の向上の為に、よくブログを英語で書くようにしています。なので、ぜひぜひ、英語学習者のみなさまと、こちらで英語でも交流が出来たらなーと思います。私のように、普段は英語を使う機会の無い皆さん、僕はネイティブではないので、NOVAにくらべたら力不足ですが、ネイティブさんたちとちがって、間違った英語でも”huh?”ってフリーズしたりはしませんので、是非是非、英語で声をかけていただけたら嬉しいです。


ひところのサザンの歌がそうでしたよねー♪ 本当かどうか知りませんが、一説によると、歌手の歌詞テロップがTVで流れるようになったのは『勝手にシンドバット』からだそうですよ(笑)


失礼しました m(_ _)m

Accordingly, 間違いも沢山あるとおもいますので、ご意見、ご批判なども、いろいろ頂ければ、また、幸いです。




by nn_77 | 2006-06-26 19:21 | 英语(English)


35 days before the exam

【2:30 a.m.】
Good Morning...

*** 今日の駄洒落 ***


FAS 142: Goodwill & Intangible Asset

FAS 107: Disclosure about FV of Financial Instruments
(↑supplementary infoでの開示はダメ!)
by nn_77 | 2006-06-25 02:29

Alone in the office...

36 days before the exam

It’s Saturday today. So I’m off duty today, but came to the office; not to work, but to study.
I have almost no days remaining before the exam. The required accuracy for each subject of USCPA exam is 75% or higher, while the average score that I earn on the practice material is 60%. I’m hopeless. But there’s nothing that I can do now. All I can do is to do my best to catch up with my study plan, without wasting even a single minute.

In the morning I went over about 60 multiple choice questions form AUDIT (GLEIM-CD), and the result was

Oh, God! (>.<)

AUD is the subject I think I’ve been working harder than the other three subjects, and yet my score is so…. TERRIBLE!

I’m relatively weak with GAGAS, Generally Accepted Governmental Accounting Standards, promulgated by GAO, General Accounting Office.

I wish I could suddenly disguise into a new strong super-man like Batman!

… of course, I know better than to wish a fairy tale comes true. I know I should just study, study, and study --- so as not to regret over my negligence in 30 days.

*** 今日の駄洒落 ***

FAS 95: Statement of Cash Flows
 金繰り精査、救護(95)するのは、CF statements!

FAS 131: Disclosures about Segments of an Enterprise and Related Information

FAS133 : Accounting for Derivative Instruments and Hedging Activities
デリバティブの時価、いざ算出 (133 しゅつ)しようとすると、難しい。
by nn_77 | 2006-06-24 13:34 | >AUD



【4:00 a.m.】
Good Morning.

なので、今朝は、朝4時に起きました。 ・・・そして、5時に寝ました (>.<)
自分自身のintegrityを疑います。明日は、二度寝したくなったら、自分自身からRepresentation letterを一筆とっておく必要がありそうです。



軍部の役人が参観し、軍の意向に反するような教育が行われていないか視察されるなか、その教師は、生徒達に伝えます。軍の統制や、押し付けられた思想に縛られず、できる限り、自分の心に素直に生きるように、と。 自分の進退をかけてでも、子供達に伝えなければならないものを感じての、勇気ある行動として描かれていました。




8:44 a.m.、今日の放送の終了間際、その先生が生徒に訴えました。



「nn、最近、サボってるな。寝るのは楽だ。勉強しないのは楽だ。でも、それはCPA試験に合格したいという自分の気持ちに嘘をつきながら生きているだけやろ。 本当は、寝る間も惜しんで勉強したいんとちゃうの? ただただお前は弱いから、そうはできへんのやろうけど、本当はそうしたいんやったら、自分に正直に生きてみたらどうやねん?自分自身を裏切るな。」



by nn_77 | 2006-06-23 04:00 | USCPA (general)



【4:30 a.m.】

皆様のお心遣いに大変感謝しています。m(_ _)m










定例会の貴重な時間の中で、nnに声をかけてくださった皆さん、お話してくださった皆さん、本当にありがとうございました。皆さんひとりひとりから、いろいろと沢山学び、刺激を受けることが出来ました。心より感謝しています。m( _ _ )m

by nn_77 | 2006-06-22 04:52 | USCPA (general)


【4:00 a.m.】
いつもより遅い起床になった。オールナイト以来、体内時計がおかしい。多分1日28時間くらいのバイオリズムになったのではないだろうか。だとすれば、今日のような寝坊や、1:00a.m.の起床などの不規則な目覚めの説明がつく。いずれにせよ、早起きするにしても、適当ではダメだ。今日は早起きした、という結果all rightではいけない。「何時に起きる」という「目標の設定」と「遂行の確認」をするようにしなければ管理できない。






日々、どれかに手をつけているが、あと40日でホントにこれを全部また見直すか?それを考えたことがあるか? やる気あるのか!? と、もうひとりの私が問い詰める。


(1) BEC WILEYがここまでボロボロになるまでやって、問題も覚えて80%コンスタントになってしまった。継続は大事だが、これ以上繰り返しても自己満足に過ぎない。ここで、WILEYにサヨナラし、手をつけていない綺麗なANJOの問題集を仕上げにする。多分同じ問題が多いだろうが、このWILEYを継続するよりはマシだろう。

(2)AUD 一通りはこなした。GLEIMも全問制覇した。WILEYは、SIMに絞る。MCは引き続きGLEIM。まだ80%を割ることもある。引き続きこれをやる。

(3)FAR 未だにGLEIMで50%をとってしまう。引き続きGLEIM。

(4)REG これはWIELYベースだ。ひととおりやったが、SIMを含めて不安が残る。回転率をあげて、1日の問題量を増やすしかない。

・GLEIMについては、原則Study Modeで行い、間違えた問題と、markした気になる問題について毎回プリントアウトし、翌日次に進む前にチェックするルールにする。

・・・あれ? 結局、「頑張ります」的な根性論になってしまった。。。結局、そんな仕事の仕方をしてきたんやなぁ、nnよ。反省しろ!


逃げるな! 克己!
by nn_77 | 2006-06-21 21:58 | USCPA (general)