Gahhh… just got my results from my first section (FAR)…
Wait for it…
74!
Thing is, I know exactly what I screwed up on. Should have studied more than 40 hours. Expensive mistake.
But hey, if it was easy, passing the exam wouldn't be worth anything. A few lessons:
Don't overlook IFRS & SEC stuff.
Don't overlook Statement of Cash Flows (PURCHASING EQUIPMENT= CF FOR INVESTING ACTIVITIES!!! NOT OPS! gahhhhh)
Also- I've had an installment method question in almost every financial accounting class since my very first. I have never taken the time to understand it, and I've somehow always gotten it wrong. Guess what I didn't study well? Guess what was 3 MC and a
Simulation in my FAR section? 🙂
FAR is a mile wide and an inch deep. Don't be afraid of the depth, but respect the breadth of the
material. Could be the difference b/w pass and
fail. I realize I got too hung up on Assets & Liabilities, Consolidations and Gov't, didn't give revenue recognition and SCF their due respect.
/vent.