Changes to FAR

  • Creator
    Topic
  • May 25, 2021 at 8:01 pm #3303658
    Clao
    Participant

    Hello!
    I received my score today for FAR and got a 70 (actually thought I was going to do worse because those sims were brutal!!!) first time taking it. My question is, should I wait until after July 1st for the changes to take place to re-take the exam or should I just go for it and take it in about 3 weeks (by the end of June) so I don’t have to wait a whole month for the scores to post (July 13 if I take the exam before 6/30 vs. August 10 if I take after 6/30).

    AUD - 76
    BEC - 79
    FAR - 83
    REG - 85
    "We don't grow when things are easy, we grow when we face challenges."
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  • May 26, 2021 at 9:02 am #3303700
    Tony
    Participant

    Howdy!

    My firm has a business link with becker and I just received the flyer for this yesterday. they recommended taking FAR after july 1st now since those topics will be removed.

    May 26, 2021 at 12:45 pm #3303724
    Ran2021
    Participant

    Since you've recently tested and scored a 70 I would say to test again before 6/30. That way your next test is the same information that you've been studying. Then if you end up not passing you can always test again later after the exam changes on July 1st. They're removing certain topics but I don't think that means the exam will be any easier. There is a chance that you could be strong in one of the sections they're removing so you'll lose that advantage.
    According to Becker:
    In July 2021, the following FAR topics will be completely removed from the FAR exam:

    Discontinued operations as a separate topic
    (still testable as a component of the income statement) (F1)
    Going concern (F2)
    Preparing journal entries for derivative/hedging transactions (F6)
    Defined benefit pension plan accounting (F7)
    Differences between IFRS and U.S. GAAP (F1-F7)

    May 26, 2021 at 1:21 pm #3303730
    Clao
    Participant

    Thank you both! I was thinking the same, Ran, i just don't want to wait that long to test again since I have everything so fresh now. I honestly don't mind for what's being removed after July 1st, so I will give it a try before 6/30 🙂 hopefully I will make it this time around.

    AUD - 76
    BEC - 79
    FAR - 83
    REG - 85
    "We don't grow when things are easy, we grow when we face challenges."
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