The CPA FAR Videos have been updated to reflect the recent changes in the textbook related to the latest guidance for ASC 606 (Revenue Recognition). The significant changes are listed below and the new videos are available for current students to watch in My Studies.
Candidates should review the changed material in the updated videos. If you have any questions about these changes, please contact us and we will be glad to assist you.
You can also learn more about the HOCK CPA and other exam prep materials if you are not already a HOCK student.
All Changes Are In Area II
Group C: Inventory
- Permanent Decline in Value replaced Lower of Cost or Market
Group E: Investments
- All of the Videos in Investments have been replaced.
Group G: Payables and Accrued Liabilities
The following three videos replaced Estimated Liabilities:
- Estimated Liabilities – Compensated Absences
- Estimated Liabilities – Warranties
- Estimated Liabilities – Coupons and Premiums
Group J: Revenue Recognition
- All of the Videos in Revenue Recognition have been replaced to conform to the changes in ASC 606.