Do we still need to study pre-codification materials?

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  • September 17, 2011 at 6:20 pm #161714
    ledgermaven
    Member

    I am just starting, doing FAR with Yeager.

    Is there any reason to still study pre-codification materials like Hierarchy of GAAP, and SFAC 1 or 2? I studied replacement for SFAC 1 which is SFAC 8 chapter 1, and replacement for SFAC 2 which is SFAC 8 chapter 3

    Thanks to all.

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  • September 17, 2011 at 6:34 pm #300501
    Joe36y
    Member

    Would say maybe you would get 1 at most 2 questions on something on that such as what is the highest authority —> codification. But its not going to be heavily tested.. The exam primarily focuses on liabilities and Stockholders equity.

    BEC: 82
    FAR: 79
    AUD: 85
    REG: July 10th

    September 22, 2011 at 8:12 pm #300502
    Anonymous
    Inactive

    I don't think you need to know that, but make sure to know IFRS.

    September 27, 2011 at 11:57 am #300503
    jayelcee85
    Member

    I actually started Yeager last night and wondered the same thing! I'm not going to study the pre-cod material. Cindy stressed that she felt they would most likely be emptying the test bank on pre-cod material for Jan & Feb of this year, so my assumption is that if we're tested on it, it'll be the replacements!

    FAR-11.12.11

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