[ak311]

Becker Question –

I’m almost 3 weeks into my FAR studying, I’m not sure if I’m doing this efficiently or not. First, I watch all the lectures. Then I go through all the MCQ for the chapter. One thing that’s thrown me off is the sheer amount of time it is taking to go through MCQ. I do each question, and then make sure I completely understand why I missed it. If I get it right, I’m making sure I got it right for the right reason. Often I have to go back and read the text or view part of a lecture. But this is time consuming, and I can easily get only 10-15 questions done an hour. I don’t know if I’m just slow or what, but with this method it is tough to get just one chapter done a week (I work full time). Should I change anything? Is there any way I could speed up? At my current pace I’m not going to be able to take 2 sections this test window and it’s going to take atleast a total of 8 weeks to get through FAR, not including review. I think my main problem is that I’m spending my wheels on questions. Any tips on studying more efficiently?

Created with Compare Ninja

FAR - F (2011), 5/16
AUD - F(2011)
BEC -
REG -

2nd attempt at this thing. Time to get serious.

[Peanut]

Ak311, I started studying for FAR in May, and am taking the exam on July 1st. That gives me 8 weeks as well. I'd suggest to just keep doing MCQ over and over, speed will pick up. When I first started the MCQ-after watching the lecture then doing the appropriate questions, I was extremely slow as well. Now I'm testing myself 50MCQ per chapter, 3 chapters a day, I've noticed my speed has picked up. Also if you're using Becker do a lot of progress tests too

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[kb24]

I used the Wiley book and test bank and the Becker text but not the videos. I started out in a similar fashion to you (i.e. making sure I thoroughly understood everything before moving on to the next section) but realized it wasn't effective for me. Not only was it too slow for the number of hours I was putting into it, but I didn't remember stuff I'd studied at the beginning as well as I needed to. What I started doing instead was:

1. I read the section – I read it intently and made some notes but only went through it once

2. I worked the Wiley MCQ – I went through them like it was homework rather than a test – by that I mean that I tried to do the problems w/o referring to the text, but if I was struggling or didn't have a clue with a problem I'd use the text.

3. I only went over the answers for the problems I missed or that I'd gotten right but was uncertain about

4. I wrote quick notes about the weak areas – more a list of my weak spots rather than a detailed description

5. After I'd gone through all the sections, I did my review using the CSO as a guide – went through my notes and did MCQ from the test bank for each section with a little extra emphasis on the weak spots – I did it in study mode so I saw the correct/incorrect answer explanations immediately after answering each question

6. For any areas that I was still struggling with I wrote out (by hand) notes to help me (e.g. J/E for bond entries because I kept getting mixed up on these)

7. Did sample exams

8. Went over areas that were still weak again

I don't have my score yet so I can't guarantee this worked for me, but I felt that I was well prepared and did OK on the exam. I realize everyone learns differently, but I hope this is of some help to you.

Good luck!!!

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[ak311]

Thanks for the help, I appreciate it. I've been working the MCQ like a test, maybe I should switch to doing them like you are kb24? I think that would atleast keep me from spinning my wheels and save me time.

FAR - F (2011), 5/16
AUD - F(2011)
BEC -
REG -

2nd attempt at this thing. Time to get serious.

[ak311]

Oh and one more question, what's the best way to study for the IFRS materials? I don't think memorizing them all is feasable, there's just too many differences.

FAR - F (2011), 5/16
AUD - F(2011)
BEC -
REG -

2nd attempt at this thing. Time to get serious.

[kb24]

I read somewhere that the best way to prepare for IFRS was to learn GAAP first and then review the differences between the two. Becker has a nice summary at the end of each section for the differences between the applicable IFRS and GAAP This is what I used in my review, and I felt it worked well for me.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[Peanut]

at the end of each chapter Becker has a summary of the differences between GAAP and IFRS, I would just skim those a few times. I haven't taken FAR yet so I'm not really sure how many IFRS questions pop up!

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[ROACH]

@kb24 Just wondering where did you get the Wiley MCQ books from? and how much did they cost?

Also, what is CSO and how can I get in it?

How do you guys feel about flashcards? I'm barely going through the 1st section of Becker's FAR. I just spent 3 hours on doing 20 pages.. mainly writing out flashcards and notes on paper. I'm still tweaking my strategy on how to study.. right now I feel like the OP.. I'm going super slow. I need to pick it up.

BEC: 66 | 69 | 7/23/2013
AUD: 8/28/2013
REG:
FAR:

[kb24]

I ordered the Wiley texts from Amazon – each book lists for $55 but the sales price for each is between $30 and $35. I also used the online Wiley test bank which you can get through another71 at a discount. You can also buy the CD from Amazon, but I had a lot of installation problems that Wiley couldn't resolve so they gave me the online service instead. While not perfect, I liked the test bank for several reasons. I could go through the test bank faster than the text, there was little duplication between the text and data bank so I had more to practice, it got me familiar with the screen used during the test, and it helped me increase my speed. The last item is important for FAR because good time management is essential in order to finish the exam.

CSO stands for the content specific outline issued by the AICPA. The following is a link

https://www.aicpa.org/BecomeACPA/CPAExam/ExaminationContent/ContentAndSkills/DownloadableDocuments/CSOs-SSOs-Effective.7-1-11.pdf

I found notes to be more useful than flashcards, but it's a personal preference.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[ak311]

@ ROACH Yesterday I basically forced myself to move on from Chapter 2, which I don't have that great of a grasp on (was getting 50-65% on the MCQs) I'd already spent a week and a half on it. I'm just going to continue reading the Ch 2 material when I have time, and review MCQ at the end before I take the exam. Not much else I can do…I have to move on. I'm not sure if this is the right approach but chapter 2 represents only a small amount of the material covered so I think I'm doing the right thing.

FAR - F (2011), 5/16
AUD - F(2011)
BEC -
REG -

2nd attempt at this thing. Time to get serious.

[pshustler]

I'm going to watch the lectures once and take all the notes and then go back through and read on my own with the notes and then try the MCQs. Its been taking me too long to get through the lectures and do all the MCQs after. I forget all the stuff in the lecture by the time I do the problems sometimes

BEC - 86
AUD - 94
REG - 88
FAR - 89

[ak311]

@ pshustler I have the same problem. Lately I've been rereading each individual section before I try the MCQ for that section. I think that way I can hit the material an extra time while not missing easy questions just because I forgot one of the terms.

FAR - F (2011), 5/16
AUD - F(2011)
BEC -
REG -

2nd attempt at this thing. Time to get serious.

[ROACH]

@kb24 Thank you I just seen the Wiley online test bank with sims. Definitely going to check that out… that is exactly what I'm going to need.

@ak311 I think pushing forward is a good idea.. by the time we reach the ending chapters, we're going to forget a lot of things (hopefully not) but we'll have time to review and reinforce everything. Goodluck.

BEC: 66 | 69 | 7/23/2013
AUD: 8/28/2013
REG:
FAR:

[Anonymous]

ak311 I had the same issues with FAR. I found studying for FAR to be the hardest because of the amount of material. FAR material is overwhelming at times and by the time you get to chapter 7-9 you may forget what material was on ch 1-3. However, I have always taken my time studying with the other tests and it has paid off. I only did one chapter a week because I work full time too. Honestly, try not to rush through the material and remember it is not a race. The most important thing is try to pass these tests the first time. Just make sure you make time in your schedule for a review of all chapters. Also I remember having like 10-12 IFRS questions which caught me off guard. I found FAR to be the hardest test of all, so I have a feeling I will be studying for FAR again.

[Peanut]

For those of you using Becker, when you come to your final review, how many progress tests do you do before your exam? I remember for REG I did around 7 or 8, getting in the 80's and 90's. For FAR I'm hoping I have enough time to do more than that. What's a good number of tests to do?

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[RedRage00]

I found myself having the same problem. I just finished all the lecture videos and now I'm starting the MCQs and it seems to be taking forever. I hope it gets better lol

Texas CPA
Licensed, March 2012

[Author]

Replies