FAR Study Group – Q1 2018 - Page 12

Had my exam on 19th, feeling relaxed that I am 50% done for AUD section.

1st testlest was definitely easy, and I felt like, is this really AUD CPA exam, or am I missing anything(any trap). I was done with 40 min, the 2nd testlet was definitely hard and wordy it took 50 min. Then 3rd was moderate and I left for the break exactly at 2 hours left for my 4th, 5th testlet. Then came the horrible part. So long and so wordy TBS, so many tabs to read. Last TBS I has no idea what to do, question was out of the blue. But I did educated guess at the last one.

My suggestion to you all: do as many Sims questions as available with the timer on, also MCQs as many as possible. Of course, no matter how many sims practice you do, there is, IMO, no review which would prepare you well for the difficulty level you face in the exam TBS. But, this doesn't mean you completely ignore SIMS practice.

I studied with Becker (1st try), Roger and NINJA MCQs (Retake). I could not do becker SIMS because it expired. I did Roger almost all sims & MCQs and at least 50 SIMS & 700 MCQs of NINJA.

Fingers crossed for Feb 6th.

Hi Everyone,
I am taking my FAR on Mar 8, 2018. I would like to make a suggestion to everyone planning to take FAR. Please always make sure that you schedule your exam so that you have at least 3 months to prepare especially if you are like me; I passed my MBA/ACC in 2008, and I have not been exposed to FAR in job at all. Now, I only have 43 days counting today and do not know how to proceed. I have bought Gleim Review which is awesome. I passed REG & BEC with Gleim, but it is much to extensive to be able to finish in 40 days. I have also purchased NINJA FAR (Book, Audio, and Notes). So, now, I will be working with NINJA, because that is more to the point than Gleim.
However, I am open to suggestions for a strategy as to how I can finish the review course enough to be able to walk into the exam center feeling at least comfortable with the material. I even considered letting the NTS expire and reapply.
One would question how I scheduled myself into such a bad timing, all I can say is that it was bad planning on my part. Also, my BEC credit expires on April 30, 2018.
I really do not know what to do.

Sona,
Thanks for the response. Its reassuring to know that there are others in the same predicament. I will redeem my NTS and take the exam as scheduled on Mar 8, 2018. Gleim is a great choice, but just a word of caution; make sure you have enough time to work with it. It over prepares and is extremely comprehensive, but it also requires a great deal of time. Currently, I do not have enough time to go through Gleim in 42 days. So, I have decided to use the NINJA Sniper for FAR. I am currently reading the book and taking notes as recommended. At least, this way, I will have gone through FAR and be able to at least understand the questions when I sit for my exam on Mar 8. Afterwards, I will definitely continue using NINJA and will also finish Gleim.

I'm having trouble knowing when to add or subtract from Net Income while using the indirect method. Could someone fill me in?

Can someone please explain to me how “N” (number of periods) works in the Present Value tables.

Is “N” the same for both PV of $1 and PV of Ordinary Annuity? My thought process was that N was number of compounding periods, but for PV of Ordinary Annuity, would N be the number of payment periods?

If you have semi-annual payments, for 4 years, then N=8, so yes-payment periods.

Considering TBS is 50%, I would rather go through them once. At least I will have an idea of how TBS could be on the exam. Most of the people says its waste of time, the TBS is far more than what is on the actual exam, however if I get 1% idea by practicing TBS then, I assume it is a big help on the exam.

Ask yourself, if it is waste of time, can you solve each TBS in the review course in less then 10 minutes? If yes, then it is waste of time.