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I found out this morning that I passed FAR with a 78 after thinking I had failed for sure and thought I would share my experience. I used WTB almost exclusively, a little CPAExcel thrown in as well as googling around for definitions I didn’t quite understand.
I passed AUD and BEC by studying the more ‘traditional’ way of reading the text and watching videos in CPAExcel, taking good notes and making flashcards, then doing MCQs at the end of sections then a load of MCQs after finishing all the topics. This is a rather comprehensive way to study. It just takes a while.
The first week or so of FAR, I realized I was taking way too long. I had around 3-4 weeks to study for FAR (full time studying). At the rate I was going, there was just no way I could take good notes on everything. FAR material (in my opinion) also doesn’t translate well to flashcards.
So I tried Jeff’s method ( https://www.another71.com/how-to-pass-the-cpa-exam-in-20-days/ ) of skipping the reading and videos and note taking, and JUST doing MCQs in WTB. I split up the topics in groups (grouping similar topics together) and focused on group by group, and did MCQs in one topic until I averaged 60-70% and moved on.
In theory, this sounds like a simple and fast way to study. It WORKS, but it is tough and is very defeating, especially early in your study period. A couple weeks in, I was convinced that I wasn’t retaining any information and that I had just wasted two weeks. I would do MCQs everyday and on a GOOD day I would get 30-40% correct.
So if you decide to go this route, I have a few recommendations:
1) Group the MCQs in small groups based on how similar the topics are and how difficult they are. For example, inventory and Monetary CA/CL are relatively simple. Stockholders’ Equity is its own animal. Don’t do too many varied topics in a short amount of time, you’ll just mix them up in your head.
2) Know your IFRS differences. I recommend keeping a separate sheet of notes with just IFRS differences.
3) Try to get through all the topics first and not worry about your score, as long as you are averaging above 50-60%, as long as you get the gist. Then really hammer all of them down towards the end, and THEN focus on the topics you’re scoring lowest on.
4) Like everyone says: NFP/Gov are important (but not the most difficult, IMO, just don’t skip it.) and JEs for the sims.
5) Try not to be discouraged. This was the hardest part for me. It was so disheartening seeing the low scores, even closer to the end of my study period, but somehow it all stuck in the end!
GOOD LUCK!
AUD - 76
BEC - 86
FAR - 78
REG -73, 69, 86! DONE
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