[Scared-cpa]

I’m talking about WCR, Quick, Securities Defensive-Interval Ratios, Times Interest Earned, Times Preferred Dividend Earned, A/R Turnover, Number of Days’ Sales in Average Receivables, Inventory Turnover, Number of Days’ Supplies in Inventory, Operating Number of Cycle…….

The list goes on and on…14 more to be exact.

Do I need to know all of these or a select few?

[Chelsea26]

It depends what exam you're studying for. I have AUD next week, so I am not spending a whole lot of time memorizing ratios or doing calculations on them. Though it doesn't hurt to have a decent understanding of most or all of them, which I think I do lol.

BEC - July 2016 → 78
AUD - Sep 2016
REG - Nov 2016
FAR - Feb 2017

[Chelsea26]

Just realized this was posted in the FAR review thread. So yeah…you probably need to know a whole lot of them.

BEC - July 2016 → 78
AUD - Sep 2016
REG - Nov 2016
FAR - Feb 2017

[RE2PECT]

Just wait till you have to take BEC!

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[Scared-cpa]

@RE2PECT, is that sarcasm or not lol? I can't tell if you're saying wait to remember them until I take BEC or I definitely need to know them haha

I'm thinking about making them into flash cards so I can study them. They're not difficult, there's just so many! But I guess that's the name of the game when it comes to FAR

[MonsoonCandy]

I would save those for last, after you reviewed all the other important topics for BEC.
Then try to remember as much as you can, depending on how much time you got to spare.
Focus more on the more common ones like the turnover ratios, current ratio, etc.

[csvirk]

@scared_cpa Re2pect is right. Wait till you have to study for BEC. I am studying for BEC right now and I've written two pages of formulas which I suppose to memorize before i sit for the exam next week. God Help me!!

Goodluck for FAR!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[sancasuki]

Not for FAR. I didn't attempt to memorize any of them.

[RE2PECT]

It wasn't sarcasm, I was pointing out that there's a ton of formulas for BEC that you need to know. I'm taking it for the second time on Monday and will be reviewing them again tomorrow and Monday morning.

Flashcards could help, but I found that applying them during mcq's is what helped me memorize them. I would write out the formula first and then plug in the numbers.

I took FAR at the end of February so I can't recall if I had any questions requiring formulas, but I don't think you need to memorize them. They're more important for BEC and AUD.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[Scared-cpa]

Thanks, everyone!

@RE2PECT, since you took FAR in February, mind if I ask you a few questions? That's what I'm studying for right now, obviously, and I was hoping you could tell me how long you studied, what you did when studying to actually understand everything, etc. I'm trying to get everyone's experience. I've never sat before and just started studying about 2 weeks ago so I'm pretty clueless lol.

[waffle_house]

I only studied the turnover ratios and a few simple ratios (current ratio and quick ratio) for BEC and not to give to much information that was all I needed to pass BEC… I'm not sure memorizing every ratio for these exams is going to benefit much. I have a hard time comprehending why people study 100+ ratios for these exams, you don't need to.

[RE2PECT]

I studied a little over 2 months. I had a slight advantage being that I had just finished school in December so the material was still fresh. The one disadvantage I faced was that I don't work in accounting so basically had no real world experience with any of the topics.

Being that it was my first exam, I wasn't sure how to effectively study in the beginning so I was trying different things. Everyone learns differently so it's really important to know what works best for you because you could be wasting a lot of valuable time doing something that won't help you in the end.

For FAR, I did kind of a modified NINJA method. I would watch the videos and then read the chapter and take notes. I tried doing some mcq's along the way, but it was taking forever so I stopped doing that and just got through the videos and notes with almost 4 weeks for nonstop mcq's. My wife had a baby a little over 3 weeks before the exam so my pace took a hit, but I somehow managed to pass with a 75.

I got lucky with my exam because it was heavy in Gov/NFP and I had just finished taking that class right before I started studying. I even got 2 sims on them and I'm positive that's what helped me pass. Had I been hit with a sim on bonds or leases instead, I for sure would have failed.

It seems daunting in the beginning, but it will start to make more sense the last couple weeks before the exam. The one thing I will say is don't waste too much time on a certain topic. Just keep moving and if you have time at the end you can come back to it. For FAR you need to be a jack of all trades and master of none.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

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