Sushtil,
I was in the same situation. I failed FAR so many times. More than anybody else could have. I dont like to admit this but since you said you needed some pep talk, I think I failed FAR 6-7 times. Maybe more
Anyway, I started on FAR because I thought the material was hardest for me (and it was), but after failing it a couple of times I moved on to BEC. Mainly because I knew my Economics, and there were no simulations for BEC at the time.
I failed BEC the first time I took it, and I would have quit for good if I failed it again. I was really down at that time but then a miracle happened. I passed BEC…
Moving to BEC turned out to be a great move for me because I proabably wasted about 6 months of being stubborn and just studying for FAR and not accomplishing anything else. Had I done that sooner, I probably would have finished the CPA a lot quicker.
The only issue with that was that FAR ended up being my last exam to pass.
After passing BEC, REG, and AUD. I had FAR left, and I failed it again a couple more times.
I thought of quitting many, many times.
Also, I found myself in the terrible position of possibly losing BEC credit in less then 60 days if I didnt pass FAR.
Things finally worked out, and I finally passed FAR. It took me almost two years.
Keep faith though. It can be done…
A couple of things to keep in mind though.
– I felt that I failed a lot times because I never had time for the sims. But now with the new format, the sims seem shorter and more concise. Even though there are more questions for the sims, reading and answering the questions are a lot shorter. Also, there is no written section for FAR, REG, AUD, so completing the sims in time is much more doable becasue you dont have to waste time thinking about what you want to write (in my opinion).
– Study IFRS. Expect 8-10 questions (Thats like 10% of your exam)
– You MUST study Govt. If you think you know Govt, study it more. Just studying Govt and IFRS is about 35% of your exam. Trust me on this one. You can pass FAR by knowing most of the material and Destroying Govt + IFRS.
If you need more pep talk, I got a bump up in my salary of about 10% immediately after I passed.
Maybe all that stress was worth it. We shall see…
BEC - Passed
REG - Passed
AUD - Passed
FAR - Passed