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Hello everyone! I have an interesting theory about the relevance of FAR in the context of the complete CPA Exam. It goes like this:
“Once a candidate has passed FAR, their chances of passing BEC and AUD (and maybe REG… haven’t got there yet…) increase.”
FAR is the monster of the exam. It seems to me that it covers nearly twice as much material as any of the other three exams. Furthermore, much of the diverse material covered in FAR relates to material covered in BEC and AUD. Here are a few examples:
1. Many of the ratios covered in FAR are also covered in AUD and BEC.
2. FAR covers detailed journal entries and other considerations for the different Balance Sheet accounts. This material is useful when learning about Finance topics covered in BEC and doing simulations on journal entry effects in AUD.
3. When you study the vast FAR material and pass FAR, your “accounting vocabulary” and confidence increase. These will help you answer questions on future exams more eficiently and effectively.
I took FAR first, then BEC, then AUD. I studied hardcore for FAR and passed it on my first try. I feel like the “benefits” of studying for FAR were more than just passing the exam. The knowledge I obtained helped me study for and pass BEC and AUD. When considering the amount of material FAR is, and these extra benefits from studying for it and passing, I feel it is really greater than 25 % of the CPA Exam (maybe around 40%). I hope these observations made sense! Good luck to everyone!
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