[RIST]

Hell FAR group!

I have really rushed through taking the CPA exam. It has been stressful. I had a crazy busy spring but somehow managed to squeeze in 3 sections. Needless to say I’m thrilled to have passed them all (AVG = 90 :D).

However, I have found each exam to be a unique experience. Are there any tips to taking/prepping for FAR?

For audit, for example, Authoritative Literature for Sims = AMAZING!!!!!!! For BEC it’s a random blind shooting spree, and REG feels like getting hit by a truck even when you kick its butt lol. So there have been pluses and minuses to each.

If I go through Becker and take the practice finals will that do the deed? That has been my normal routine. However, a good friend of mine just failed their FAR test with this approach, and frankly they have much more discipline than me. Conversely, I have more experience and accounting classes than they do which I think helps.

I have never posted for advice before, but this time I’m in a messy spot. If I fail FAR now I will have to wait to SEPTEMBER to retake it if I understand the rules. That would crush my spirit since I wouldn’t even be able to study for another section as I’ve passed the other 3 🙁 I really want to be a CPA this July. It a huge plus for my career, and it will matter much more if I have it now (I’m in a unique situation, so I’ll spare you the details).

My friend who failed FAR missed it by 1 point and they can just take it the moment the window opens after a brief re-review. I lack that comfort. Thus, I’m worried! I really can’t fail to put it bluntly… If I had failed before I could take it shortly after…

I know it’s early to panic, but I’d love some thoughts!

[QuesoDip]

1. Don't neglect Governmental, Not-for-Profits, or IFRS 🙂

And

2. Unless you have real world corporate accounting experience (from AP to Financial Statements), know as many journal entries as possible.

I say this because I personally did not attempt a single Becker Simulation nor did I do any of the “Optional” practice questions, but I have a few years of hands on experience with financial statements.

REG - 88 - 8 Weeks (Becker, Ninja Audio/Flashcards, Wiley TB)
FAR - 87 - 10 Weeks (Becker, Ninja Audio)
AUD - 98 - 6 Weeks (Becker, Ninja Audio, Ninja MCQ)
BEC - 87 - 2 Weeks (Becker & Ninja Audio)

[RIST]

I have a few years myself. I had a Journal Entry sim on AUD and I'm 99% sure I got it. I'm a JE/AJE/T-Account Machine 🙂

It's not the JEs that bug me, it's the uncertainty (so many odd little side topics), and frankly, some of the IFRS too. When I was in school the IFRS convergence project was in its infancy — I didn't even know what IFRS was! I haven't heard any of this stuff and as an American I never used it either…

Did you get a lot of IFRS when you took it?

[QuesoDip]

I believe IFRS is heavily tested now o days. It's probably as important to know about IFRS as it is to know about inventory valuation methods.

REG - 88 - 8 Weeks (Becker, Ninja Audio/Flashcards, Wiley TB)
FAR - 87 - 10 Weeks (Becker, Ninja Audio)
AUD - 98 - 6 Weeks (Becker, Ninja Audio, Ninja MCQ)
BEC - 87 - 2 Weeks (Becker & Ninja Audio)

[skyraptor]

I just took FAR in Q2 and scored a 72. I agree with QuesoDip, don't forget about Governmental, Not-for-Profits, or IFRS.

If I knew those topics stronger, I would have passed for sure.

[RIST]

Oh well. Such annoying topics! Audit was awesome since I got like 2 IFRS questions and 2 Government questions 🙂 Frankly the government ones were dirt easy and one of the IFRS ones was. I honestly forget the details of the other but I guessed on it 🙂

I hoped FAR would be that way as well…

Oh BTW, how useful is the Codification on FAR sims? Awesome or meh?

Like I said, I really have to pass this one, so I pray everything goes well. Anyone who has other tips feel free to chime in.

[Java230]

I think Becker will be perfect for you! Honestly, don't skip any section, do it all, learn the basic concepts in all areas. As long as you don't skip anything, I think you will be fine! GAAP and IFRS actually have a lot in common. Honestly, my mistake is that I didn't time myself. The simulations are by far the hardest in FAR, give yourself as much time for them. Don't go back to correct anything. I finished only 1/2 the simulations and still passed (multiple choice are SO EASY compared to Becker). FAR multiple choice questions are way easier then ANY other section but FAR has so many topics to cover, so the challenge is learning a bit about EVERYTHING. This was my first test and I didn't learn about this forum, if had I not redone every multiple choice question on the test, I know I would have gotten in the 90s. Dumbest thing I had ever done, answer the multiple questions as best you can and move on!!! you will score 90's, my bet.

Licensed WA CPA 2/2015
Government Auditor Since 2007

[RIST]

@Java: All of you scores are either exactly mine or 1 point off! Of course that means I am destined to score 75, 76, or 77 on FAR, but at least that is a passing score!

Are you me from a very slightly different universe coming to warn me about FAR!?

[Java230]

@ RIST, you will do so much better then me! Please take my advice, don't flag anything in multiple choice (only flag to keep tally of how you are doing), DO NOT GO BACK TO ANYTHING flagged. Try your best @ multiple choice (based on your scores-you are smart!!), then give yourself as much time as possible on SIMs. Trust me, take as much time as you can for those! I want you to do GREAT and I know you will. Learn the main topics in Becker. Don't skip anything!!! Finish viewing the material and do 90% of the homework (understand what you got wrong).

Licensed WA CPA 2/2015
Government Auditor Since 2007

[RIST]

Well, you are the first person to give the advice of “never flag”. However, I've taken three parts and never flagged a MCQ despite the advice of others 🙂 Though I've always left one or two unanswered (which is similar to flagging). I have also never reviewed a testlet. Some people call me crazy for that, lol.

On Audit I never flagged anything and finished the MCQs in 1.5 hours and had 2.5 for the sims. I had so much time I left with almost an hour left :)))))

IMHO, the sims are where you can differentiate yourself from the average test-taker since everyone can guess MCQs but most sims can't be guessed. So I focus on sims and use my gut on MCQs.

But this is a high stakes game. I have to be careful.

[puffnation2009]

Study for Governmental, Non-profit and major differences between IFRS and GAAP. Don't neglect materials in Chapter 10.

FAR is definitely not an IQ test. I used Becker's self-study and went over every questions in it at least 3 times. Keep practicing smartly and you will pass.

FAR - 84
BEC - 80
REG - 81
AUD - 85

[JamesBJames]

Let's see… FAR tips.

I mean, you've already passed the other three sections with very high scores. You've also got REG, BEC, and AUD behind you; all of which tangentially touch on FAR topics. Statistically, you're in great shape.

At any rate, make sure you understand governmental and not-for-profit accounting. It's a combined 20% of the exam. People who took FAR in the last testing window also talked about the slew of IFRS questions they got. Personally, I had a few very specific ones here and there, but I can only imagine that the AICPA will test convergence more as the years go on.

The scope of FAR is huge, so go back to earlier materials every now and then to keep the ideas fresh in your head. I did 90-question progress tests after every module; by the time I was in the last week for my final review, I was surprised by how much I retained.

I don't think the authoritative literature was particularly helpful for the non-research FAR SIMs… but then again, I didn't really think it was all that great for the AUD SIMs either. Use it if you've got the time, but I wouldn't expect too much help for FAR.

Allocate your time wisely. FAR is brutal. I tried to have an hour and 45 minutes going into the SIMs and am glad I gave myself that much time. I was working up until the last second.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[RIST]

@ James& Puff:

How many weeks did you put into FAR?

[JamesBJames]

6.5 weeks for FAR. I felt like I needed the additional time to understand some of the material. I ended up doing AUD in, like, 3.5 weeks because it wasn't as daunting.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[Kimboroni]

I don't really have anything to add for your situation– I think if you put the time in, you've got a great background to do well on FAR. The others gave great advice on areas to emphasize in your prep.

But your friend needs to be really careful about thinking all they need is a quick review to get one more point. It will likely be a completely different test, which can have a huge impact on the emphasis on different areas that come up. So they should put a lot of time in so that they are prepared for whatever they get on the retest.

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[RIST]

Oh yeah, they know they should do a re-review. I'll make sure they do with my own hands if I have to since we will be taking it on the same day most likely.

I've just got to prep for one more month and this nightmare will be over 🙂

If it were easy it would mean nothing… That is what I keep telling myself at least 🙂

[Author]

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