[klmc]

So I just failed FAR with a 70 and now I’m wondering how I should re-study. I’m gonna take it again in mid-october, but this time I wanna do it right. I used Becker’s lectures and WTB for most of the MCQ and I didn’t bother doing SIMS (which now that I look back might have been a bad idea).

How should I go by studying for FAR the 2nd time around? I was thinking just doing MCQ and SIMS and going back on the questions I miss and review the topics. Any thoughts?

Thanks

|FAR| - 72, 83
|AUD| - 73, 76
|REG| - 76
|BEC| - 73, 82

ALL DONE!!

[SAM04]

Thanks Amandilee for your suggestion. I will start doing the MCQs and SIMs , Actually I was finding the material in

the book too much and complex to be honest.

[Anonymous]

@amandilee

I am just wondering, is there a method when you are using Ninja MCQ and Ninja Notes, or do you just read the notes and then do MCQ and keep doing that?

[need2studymore]

Hi, I failed FAR many times. The first two times because I was 1) stupid and didn't study and the 2) life was too hectic. Third time I tried but failed because I couldn't concentrate with Yaeger material. So the last time I took it I bought Becker and essentially started over and I rewrote all my notes. I'm very much a visual learner so I like to make important things stand out in my notes. Essentially, I broke down each chapter and focused on the essential stuff. What will the transaction do? Is there a Gain/Loss recognized? Is there a difference with IFRS rules?

Ex. Chapter 2 (Becker)

Exchange Lacking Commercial Substance

– FV can't be determined

– No change in cash flow

Gains

– NO boot received = no gain

– Boot paid = no gain

– Boot received = recognize proportional gain (<25% rule)

(Total boot received/ total consideration given) x total gain realized

* In tax -> gain recognized to extent of boot

– If boot is 25% or more of total consideration = considered monetary = recognize all gain/loss

If you are reading the book, you'll notice that they do a lot of cross referencing such that they'll talk about OCI in different chapters. Each time they did this, I would flip back to the OCI chapter and just make a reference so I know where else they talk about it so when I do final review, I can flip through the whole book quickly.

Then just do MCQs and don't worry about getting them wrong but when you do, make sure to read the explanation and then write a short blurb of why it is the way it is.

To be honest, my last score a week before my exam, I got high 50s -low 60s on the Becker final exam for the mcq portions but got 80s-100s in the SIMs. I thought I was going to fail but I just focused on my notes making sure I got the main stuff down like Equity/Cost/Acquisition method, pensions, that sort of thing and just drilled those in my head over and over. You'll find that the exam is not that bad.

AUD- 76 | Fail | 92
REG- fail | 80
BEC- 78 | 83
FAR- fail | fail | fail | 77

CA PETH 98%

I AM DONE. PRAISE THE LORD GOD ALMIGHTY.

[Author]

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