[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!

[samdiegoCPA]

Yep, know IFRS VERY well. I had a ton of IFRS questions back in February and failed my last one by 1 point.

AUD: 84
REG: 84
BEC: 79
FAR: 83

[RIST]

It really strikes me as rather counterintuitive that we study IFRS when we work under GAAP 99.99% of the time -_-

From calculating AMT by hand on REG (ever since AMT existed we have had tax software to crunch the numbers) to knowing what rule goes under what part of COSO in BEC (if you know what human resources are WHY does it matter if you know it goes under control environment or not?!) to knowing the rules in IFRS when the whole point of IFRS is flexibility and in reality all countries using it opt out of many of its provisions (I know two people who research its application and they assert that this statement is actually generous)?!

It's preposterous really. That said, I appreciate the feedback since I probably would have ignored IFRS since that is what I did in AUD. 😀

[Anonymous]

I'm on FAR too and need to pass so I don't lose AUD. This will be my 3rd stab at FAR. My study suggestions would be to know your journal entries for everything under the sun, know the stuff in Chapter 10 a little more in depth than what Becker covers it and just put your time in.

I'm scheduled August 14th and cant wait to kill this beast!!

[RIST]

I'm rooting for you! I'm really cozy with Journal Entries thankfully. The only ones that phased me at all were deferred tax ones and the government ones. Government accounting is just a mess, lol.

I got a sim in Audit that covered 2 of the sections in F10 (I really think the AICPA expects you to take FAR first since I've had FAR questions on every exam including REG). I used the AL to crush it or i'd have been defenseless 🙂

[CPAchronicles]

Hey guys quick question… do you think having 2 full weeks to review far (after doing 2ch. per week) with Becker is enough to prepare for the test?

[FARtogo2014]

Hello Everyone-

I have read the tips given by everyone. Quite useful.

I am using Becker material for the FAR. Does any body have any other suggestions for additional material?

Please advice.

AUD 81
REG 88
BEC 77
FAR 69 retake SCHEDULED TO TAKE IN Nov 2014

[Author]

Replies