This topic has 28 replies, 9 voices, and was last updated 12 years ago by Anonymous.

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November 26, 2013 at 9:15 am #182045

Anonymous
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Hey everyone, need some FAR advice. I know this is going to sound a bit crazy but I’m trying to take FAR before the CPA exam requirements change in the state of California. Might as well give it a shot since I’ve passed 3 parts already and will be eligible to get my license under the old requirements (and not have to take additional courses) if I pass. Unfortunately, I’ve only finished Chapters 1-5 in Becker.. So that puts me in a pretty bad situation – I have to finish all of my review by Friday (sitting on Saturday morning).

So would anyone have any advice as to how to study the final 5 chapters? Or any warnings (do any chapters take much longer than others, etc.)? I was thinking of skipping chapter 10 since I hear that it’s not a major part of the exam. Then I’d have to skim through the final 4 chapters in 4 days.. Would anyone have any strategies they could suggest given my situation?

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November 26, 2013 at 10:29 am #485280

W_HAMILTON
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I can't remember what all is in the remaining five chapters, but I know governmental and not-for-profit accounting is there. You HAVE to know that stuff. I think those two topics cover up to approximately 20% of the exam, which means about one out of every five questions is going to be on those topics. You must make sure to cover this material.

When reviewing, definitely remember to focus on bonds (amortization, how to calculate PV, etc.) — know it inside and out.

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

November 26, 2013 at 10:29 am #485307

W_HAMILTON
Member

I can't remember what all is in the remaining five chapters, but I know governmental and not-for-profit accounting is there. You HAVE to know that stuff. I think those two topics cover up to approximately 20% of the exam, which means about one out of every five questions is going to be on those topics. You must make sure to cover this material.

When reviewing, definitely remember to focus on bonds (amortization, how to calculate PV, etc.) — know it inside and out.

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

November 26, 2013 at 1:15 pm #485282

Neowarcloud
Member

If you're going to do it I would say skip the lectures. Chapter 6 is meat and potatoes kinda stuff, 8 and 9 are also important…Chapter 10 is pretty forgettable…If you do skip it, you will cost yourself some points, but its lower priority…Chapter 7 has a few important pieces to it as well EPS, dilutive eps, cashflow, deferred tax…

If you aren't working, I'd give it a shot.

Be prepared for some long boring days though

REG 8/12 - passed 79
BEC 7/13 - passed 84
AUD 8/13 - passed 83
FAR 11/13 - Passed 83

Now off to a new county...

November 26, 2013 at 1:15 pm #485309

Neowarcloud
Member

If you're going to do it I would say skip the lectures. Chapter 6 is meat and potatoes kinda stuff, 8 and 9 are also important…Chapter 10 is pretty forgettable…If you do skip it, you will cost yourself some points, but its lower priority…Chapter 7 has a few important pieces to it as well EPS, dilutive eps, cashflow, deferred tax…

If you aren't working, I'd give it a shot.

Be prepared for some long boring days though

REG 8/12 - passed 79
BEC 7/13 - passed 84
AUD 8/13 - passed 83
FAR 11/13 - Passed 83

Now off to a new county...

November 26, 2013 at 1:32 pm #485284

ymmit
Member

ch. 10 has IFRS gotta review that

Licensed CPA!

November 26, 2013 at 1:32 pm #485311

ymmit
Member

ch. 10 has IFRS gotta review that

Licensed CPA!

November 26, 2013 at 3:27 pm #485286

W_HAMILTON
Member

The statement of cash flows is another piece of “can't-miss” material that you have to be sure you study.

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

November 26, 2013 at 3:27 pm #485313

W_HAMILTON
Member

The statement of cash flows is another piece of “can't-miss” material that you have to be sure you study.

REG - 93 (7/30/13)
BEC - 90 (8/19/13)
AUD - 98 (8/31/13)
FAR - 84 (10/19/13)

November 26, 2013 at 4:21 pm #485288

Anonymous
Inactive

I just took the exam on Thursday… not sure how similar our exams will be… but if I were you, I would at least skim over ch 10! Good luck!

November 26, 2013 at 4:21 pm #485315

Anonymous
Inactive

I just took the exam on Thursday… not sure how similar our exams will be… but if I were you, I would at least skim over ch 10! Good luck!

November 26, 2013 at 4:24 pm #485290

Anonymous
Inactive

I agree with other posters – Chapter 10 is a mishmosh of different topics kinda like BEC where they just randomly threw a bunch of stuff together at the end of the book. That will be tough because you're all over the place. If you have to drop a section I'd say that's the one.

November 26, 2013 at 4:24 pm #485317

Anonymous
Inactive

I agree with other posters – Chapter 10 is a mishmosh of different topics kinda like BEC where they just randomly threw a bunch of stuff together at the end of the book. That will be tough because you're all over the place. If you have to drop a section I'd say that's the one.

November 26, 2013 at 5:08 pm #485292

Anonymous
Inactive

I personally think Derivatives in ch 10 is not a section you should skip!

November 26, 2013 at 5:08 pm #485319

Anonymous
Inactive

I personally think Derivatives in ch 10 is not a section you should skip!

November 26, 2013 at 5:26 pm #485294

Anonymous
Inactive

Sorry… I think the section in ch 10 with derivatives is called “Financial Instruments”
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