March 22, 2018 at 11:30 am #1746305VickyParticipant
This is just kind of a mini rant, if you like Gleim and it works for you that's totally fine. After reading lots of good reviews about the Gleim review system (that it “over-prepares” you), I decided to purchased it. The book is unnecessarily wordy, videos are boring, and some of the explanations for MCQ questions are horrible. I bought the Ninja package and found the book and Bob's videos to be much easier to understand. I also watched some videos from WileyCPA and Roger on youtube and found those to be much more engaging and informative than Gleim's tools. Just as an example, here's a question related to PPE from Gleim:
Cole Co. began constructing a building for its own use in January. During the year, Cole incurred interest of $50,000 on specific construction debt and $20,000 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during the year was $40,000. What amount of interest cost should Cole capitalize?
The correct answer here is (A) $40,000. I tried understanding the explanation provided by Gleim but just got more confused afterwards:
Material interest costs incurred for the construction of certain assets for internal use are capitalized. The interest to be capitalized is determined by applying an appropriate rate to the average qualifying expenditures accumulated during a given period. However, the interest capitalized may not exceed the amount incurred during the period. Thus, $40,000 of the interest incurred on the construction is capitalized.
I searched the same question here and found someone else posted an explanation from another prep course, and it was straight forward and easier to understand:
The amount of interest cost which should be capitalized during building construction is the lower of avoidable interest or actual interest. Avoidable interest equals the interest computed on the weighted-average amount of accumulated expenditures on the building ($40,000). Since actual interest is $50,000 + $20,000 = $70,000.00 $70,000, the amount capitalized should be $40,000.
Maybe I am just really dumb, but that second explanation makes much more sense. Anyway, I guess I just really don't like the Gleim system overall, and it doesn't help that it makes you feel like a failure for never “completing” the study units until it says so. I can only hope that Gleim gets better for the other sections.March 22, 2018 at 11:57 am #1746314PokeyParticipantMarch 22, 2018 at 11:58 am #1746315AnonymousInactive
I choose Gleim for FAR because I read it over prepares you. So obviously I wanted to be over prepared. I have the time to over prepare. But yeah it is a pain. Many times it takes me half an hour to understand a MCQ. It is what it is. I Don't know how other study guides are because I never used to them. I already invested so much time and effort into Gleim – I might as well keep at it.March 23, 2018 at 9:05 pm #1747697alloveritParticipantMarch 24, 2018 at 12:36 am #1747737SkynetParticipant
Believe it or not, i spent 7 months on FAR for the previous exam format. That length of time allowed me to hit practically every area.March 24, 2018 at 10:30 am #1748108TncincyParticipantMarch 24, 2018 at 12:05 pm #1748189ChristyParticipantMarch 24, 2018 at 3:10 pm #1748412TncincyParticipant
I'm so tired of spending money until I'm gonna need a part time job just to cover the cost and study materials. I need to pass soon!!March 24, 2018 at 4:10 pm #1748459AnonymousInactive
The Gleim answer actually seemed more practical to me, i.e. lets you reach the correct answer without even mentioning lower of avoidable or actual. But this wouldn't be the first time I misinterpreted or even understood the opposite of what the answer was saying.
R: 75December 20, 2020 at 7:14 pm #3189347FreshParticipantDecember 23, 2020 at 5:53 pm #3191975Professor FarnsworthParticipant
You said something very important about Roger's lectures being engaging. I use Roger and I can tell you the lectures are the most important part of a review course. You will sit through hours of lectures and if they are boring and terrible you'll hate every moment of it, I honestly can't imagine sitting through 40 hours of boring FAR lectures. Roger's lectures are really good, he is funny, engaging, fills the lectures with funny stories and examples from his career… Really enjoyable to watch. I truly believe he has the best lectures among the CPA review courses. Try the free trial, watch a few lectures, solve a few MCQs and see if you like it!January 13, 2021 at 3:56 pm #3210389LD-407Participant
When I was sitting for FAR, I had previously been using Wiley and ended up switching to UWorld Roger's CPA review. I hadn't heard much about them before, but I wish I had just started with them in the first place! It would have saved me a lot of heartache, time, and money. I had struggled with FAR for nearly an entire year and failed twice with very little score improvement. I decided to try one of Roger's subscriptions so that I could just have access to FAR, I ended up passing with a 17% score increase. The whole experience was night/day, Roger's had better lectures, the reading material made sense, and the MCQs were spot on, plus they had less MCQs for me to get through which saved me a lot of time. I'm using them now for REG.January 19, 2021 at 1:00 am #3215549
I don’t like GLEIM – FAR section
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