[Anonymous]

I have heard a lot of people saying not to undermine the governmental accounting section. I also have heard miles wide, but inches deep.

Does this mean that complicated topics like reconciliations are not likely to be tested? And that figuring out which fund to use, or using the modified accrual method to determine revenue?

More or less, rather than tell me what exactly the questions are, I am trying to get examples of the difficulty. Some governmental that ask which fund is which take 30-45 seconds, but some require calculations take up to 2 minutes.

Appreciate the help you all, and many congratulations to those of you who have passed this brutal FAR exam in Q2!

[jereumie]

you definitely should not undermine Governmental and not for profit organizations. I took FAR before the change, so I am not sure if it is still the same. From what I recall, there were a lot of questions about concepts(including financial statements and what goes in which financial statements, which funds to use) and what gets debited/credited. I don't think I ever got to actually calculate amounts.

[maverick87]

Same with @jereumie but for Q3. Roger emphasized modified accrual vs full accrual accounts. What accounts make up the Govt, Proprietary and Fiduciary groups. What are the different statements and what type of expenditures and expenses go in what fund.

[Author]

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