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CCIFP Virtual Study Group - Shared screen with speaker view
Veronica Whitehead
08:52
CFMA20
Trevor Gruden
12:13
I heard you talk about a discount link for the test before. How do we get this?
Veronica Whitehead
14:05
https://www.surveymonkey.com/r/CCIFPStudyGroup2020
viv
15:42
I have not
Trevor Gruden
20:00
Is there a significance with October 31st? It was mentioned in the survey.
Cathé Young
20:45
The discount is for those taking the exam before 10/31/2020
Ned Owens
23:19
How quickly are results from the remote proctored test available?
Veronica Whitehead
27:00
CCIFP20
Veronica Whitehead
40:05
Phil is having tech difficulties. Hopefully he'll be on soon
Cathé Young
40:26
thank you
viv
43:13
Can this sheet be updated with that information and re-sent?
Tim Thornton
46:55
perfect Jim
viv
51:24
1. Will the exam clarify when to use 605 vs. 606?Is there an example of the calculation needed for reporting a loss 100%
Veronica Whitehead
51:47
Ned, great question. Results typically take 2-3 business days. Because this is a new pilot exam, results will be delayed about 4 weeks until the statistical analysis is complete and a score is set. Once that is done, results will be sent out.
Veronica Whitehead
52:22
The nee exam that is being built and released will be to 606. Currently its 605
viv
53:33
So the proctoring exam that will be released here soon will only be on 606, correct?
Veronica Whitehead
54:10
Viv, yes it will. It will also be released at Pearson Vue test centers as well
viv
54:32
ok thank you!
Trevor Gruden
56:46
What is meant by 605/606? Is there a file with what will be new?
Veronica Whitehead
57:16
Once you all go back and review after tonight...if you have any additional questions on the material, please email me at vwhitehead@iccifp.org and I will pass on to a subject matter expert for an answer.
Veronica Whitehead
58:31
Here is another free resource:
Veronica Whitehead
58:33
http://cicpac.com/wp-content/uploads/2018/11/Revenue-Recognition-Guide_CICPAC_FINAL.pdf
Tim Thornton
01:02:01
when a project is losing money, do you recognizing 100% of the loss or only the % complete amount of the loss?
Dave Redding
01:02:28
100% once it is known.
Cathé Young
01:02:39
yes
Jim McGettigan
01:03:29
Tim, we'll talk about that in a bit.
Cathé Young
01:07:15
https://www.iccifp.org/ccifp-study-group-review
Cathé Young
01:07:35
This has the Reallocation and Cumulative Catch up review on it.
Cathé Young
01:09:08
I didn't see one for reallocation vs. Cumulative catch up
Cathé Young
01:09:14
It's in the book
viv
01:17:46
Do you want to show stored materials example? Under 606 it seems to be different.
Martin Saitzyk
01:24:51
Retainage would be on all I think it this example
Ryan Mastrianni
01:25:56
what is the answer to B that is hidden?
Ryan Mastrianni
01:35:16
is 80% the passing grade on the actual exam or just what the practice exam lists?
Bobby Fancher
01:36:16
are the quizlets updated for 606?
Bobby Fancher
01:36:49
I did not think so. thanks.
Cathé Young
01:38:18
https://quizlet.com/latest
Tim Thornton
01:38:25
https://quizlet.com/elachowicz/folders/ccifp-study-guide-flashcards/sets
Shanshan Yang
01:39:12
I couldn't join quizlet classroom either.
Shanshan Yang
01:45:23
I got in!!!
Tim Thornton
01:45:42
the study set is private on Quizlet, I can't view it
Martin Saitzyk
01:46:28
I have old material, is there material that was added for 606?
Martin Saitzyk
01:47:04
Does anyone have in .pdf?
Pauline MANANSALA
01:54:51
tyvm