Repurchase Agreements (ASC 606): Lease, Financing, or Sale?
Understand repurchase agreements under ASC 606. Compare forwards, calls, and puts; distinguish leases, financing, and sales with returns; then review …
Posts by Mansour Farhat
Audit Assertions: 8 Essential Concepts and Examples
Understand audit assertions through eight study concepts, practical audit procedures, cash and cutoff examples, and practice questions. Compare existe…
Margin of Safety: Formula, Calculation, and Examples
Calculate margin of safety in dollars, units, and percentages. Follow two restaurant scenarios, distinguish the sales cushion from profit margin, and …
Degree of Operating Leverage (DOL): Formula, Examples, and Exam Tips
Degree of operating leverage (DOL) measures the percentage change in operating income that comes with a 1% change in sales. The formula is DOL =…
Revenue Recognition (ASC 606 & IFRS 15): 5 Key Steps Made Simple
Revenue recognition is the accounting principle that decides when a company records revenue and how much. Under ASC 606 (U.S. GAAP) and IFRS 15, a…
Audit Assertions Explained: Examples and Audit Procedures
Learn audit assertions through eight study concepts, practical audit procedures, cash and cutoff examples, and original practice questions. Compare ex…
Failed the CPA Exam? 7 Smart Steps for Your Retake
Failed the CPA exam? Follow seven practical steps to review your results, strengthen weak concepts, improve MCQ and simulation practice, and build a r…
Why Take FAR First? 3 Smart Reasons for CPA Candidates
Updated October 28, 2026. Quick answer: I recommend that most CPA candidates take FAR first. FAR (Financial Accounting and Reporting) builds the financial accounting foundation…