[nshah1824]

I’m reviewing Becker’s book for Chapter 5 Liabilities:
It includes payables and accrued liabilities
contingencies and committments
long term liabilities
bonds
troubled debt restructuring

Past FAR test takers, what would you advise?
This happens to be one of my weaker areas and with my test coming up at the end of this quarter, I was wondering if it is even heavily tested? Would it be useful to go through this entire chapter or spend time on other chapters like leases, Governments, and non profits?

[SuperAccountingGod]

Unfortunately, there's no way to really know because the exam is all fair game. All you can do is hope you don't get liability questions but that's ninja provides a lot of resources to help you learn those areas.

[DoubleBogey]

I made it a point to know bonds and leases frontwards and backwards because it just screams TBS topic for FAR to me. Wiley seemed to not emphasize troubled debt as much. But as @SuperAccountingGood said, you really never know and it's all testable.

[laslow]

IT would be risky not to have a firm grasp on bonds. Troubled debt may be less likely to show up but no one can say.

[Operation_CPA]

While I cannot divulge the nature of my exam, in my opinion it would be foolish to sit for FAR without knowing bonds inside and out (given how much time Becker dedicates to this area – especially the bond amortization table, JEs, etc). Gov / NFP is just as important too. Just do your best to fight through it – it will eventually click!

[Iceman]

Textbook answer – you must know everything. Anything can get asked.

That said, I do wonder, since we all have limited study time are we better off building on our strong areas or shoring up our weaknesses?

[Author]

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