Thanks @iceman6
My biggest takeaways for for FAR are:
1) Try and do all problems as a journal entry.
2) Master Governmental, especially the funds an fund types. https://www.youtube.com/watch?v=HIUFUtKIO3E that video helped me alot. I made up a stupid nuemonic: Governmental Funds, if you know anything about the Fed Govt they are paid on the GS scale.
SO GSDCP Governmental Scale Paid DC
Proprietary: PIE , you have an awesome PIE recipe that you want to share
Fiduciary: F PIPA for PIPA Middleton, because she is hot and you get the point.
Governmental Funds – To finance and account for governmental activities (police, fire, courts, inspection, general administration), modified accrual, current financial focus
G – General Fund
S – Special Revenue Fund
D – Debt Service Fund
C – Capital Project Fund, capital assets and LT liabilities are reported ONLY in the govt wide F/S
P – Permanent Funds
Proprietary Funds – To finance and account governments self supporting biz activites (utilities), economic resources measurement and accrual basis of accounting
I – Internal Service Fund
E – Enterprise Funds
Fiduciary Funds – To account for resources (and any related liabilities) held by a governments entity to benefit others (NOT support governents programs) economic resource focus, accrual
P – Private purpose trust fund
I – Investment Trust Funds
P – Pension and other employee benefit trust fund
A – Agency Fund
I never practiced a FAR sim. I did look at them to gain an understanding though (like two). I did create a spreadsheet based on the one Jeff provided for MCQ trending vs actual. Out of 44 people, people trending over 63 passed except for 2 people. Just something to shoot for.
Here were my NINJA MCQ stats:
Total Questions Attempted : 3,222
Avg Score: 64
Avg Trending:75
Questions Not Answered Correctly: 510
Hours:98.2
ACTUAL SCORE: 81
Oh and if you run out of time. Just put zeros could get partial credit for the SIMS.
Lastly if you want my notes, I can send you the Excel schedule.
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