[CPAoneday]

Hi everybody! Taking FAR in June. Have been reading through the comments and decided to take a look at AICPA blueprints (effective Jan 2018), which are a big deal apparently. So, here’s a list if topic that are NOT marked as Analysis and therefore are not supposed to be sims:

Conceptual framework and standard-setting
Nonprofits
Governmental
Employee benefit plans (pensions)
Investments
Long term debt (notes and bonds payable)
Business combinations
Derivatives and hedging
Foreign currency transactions
Nonreciprocal transfers
R&D costs
Software costs
Fair value measurements
Differences between IFRS and GAAP

I’m a little taken back, since some of those topics are considered “heavily tested”, like bonds or pensions. So we honestly can say, with a 100% certainty, if we encounter one of those sims, that would be a pretest?

Newbie
FAR oct 2016 working on it
REG ??
BEC ??
AUD ??

[Anonymous]

IF any of those on the list has “application” level, then that is also testable as either MCQ or task-based simulation.

[Becca]

I’m not so sure; I’ve seen some people say that they had Governmental financial statements as SIMS… I’m interested to see other’s opinions/experiences.

[Recked]

Can't really disclose anything but I would also recommend you not skip anything marked both Analysis or Application as both “COULD” be fair game for SIMs.
Most of my SIMs did focus on the analysis topics… MOST.

[Anonymous]

I agree with all the previous comments. This blueprints were instrumental in passing the 2nd time ( on top of studying like crazy).

[Tim]

I don't even look at the blueprints. /shrug I would just study the material the review package you use presents and let them worry about selecting the material to be studied.

[Bourne]

Agree with Tim. Didn't even look at the blueprints. The review courses themselves provide you with the material needed to pass and it's your job to actually learn it well enough to do well on any sim thrown at you.

[Anonymous]

Let’s take it from the “Master Passers” (Tim & Bourne)!

There’s no point of looking at CPA test blueprints when you cannot even finish studying the primary source of your review course.

[Anonymous]

What it means is that you aren't going to get a SIM focused on R&D costs, but in a SIM focused on a different topic, you might be asked to know R&D topics to no more extent than you would on MCQ. I exclusively studied SIMs that fit into the topics as described in the Blueprint, i.e:

Statement of cash flows
A) detect, investigate and correct discrepancies while agreeing the statement of cash flows to supporting documentation
B) derive the impact of transactions on the statement of cash flows

If a SIM in my study materials didn't fit into one of the stated objectives, I didn't do it.

[Author]

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