[PrinceofDubtown]

I am studying for FAR, taking the exam in April, using Becker. So far I feel that I am spending WAY more time reading through the book/memorizing concepts and lists than I am doing actual problems. Based on what I am seeing, this is the opposite experience of what most people are doing to prepare (i.e. doing tons of multiple choice questions with reading the book/doing flashcards almost as a supplement). All this memorization certainly slows me down.

My question is: I am spending too much time memorizing everything? Certainly where memorization is required (IDEA in chapter one comes to mind), I will do so, however I feel that there are other areas where I might not be doing myself any favors…it feels like it’s going to be impossible to commit these mountains of list to memory in such a short time.

For example, the start of F2 lists revenue recognition rules for IFRS for sales of goods, rendering of services, revenues from royalties and dividends, and construction contracts. There are a set of rules for each of them, and Gearty had us highlight them all…should I commit each and every one of these lines to stone-cold memory? I feel like this comes up a lot in the Becker notes, and I’m worried I’m unnecessarily slowing myself down. Any advice would be appreciated.

FAR - 92 (7/13)
AUD - 98 (10/13)
REG - 92 (7/14)
BEC - 95 (8/14)

[SeattleAccountant]

@ Prince

Give it a time, a lot of the stuff that felt new or was forgotten from school on the first round of review will bother you but do not let this to discourage you.

Plow thru the materials once, make cards, re-read chapters and comeback for a second review by doing MCQs and Sims and perhaps by re-listening certain portions of chapters or seeking out alternative explanations on the YouTube.

Good luck and by the way, a lot of stuff from earlier Becker chapters makes sense by the end of F-10.

On the other hand, rushing too fast is detrimental IMO.

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[MCLKT]

First round through I make sure I understand the concepts. Use the questions as a learning tool, not really testing your knowledge.

I save the memorization for the second review. I have a better understanding of the topics that seem to be more pervasive and require memorization. And by that time the questions become a test of knowledge.

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Keely]

You definitely need to read the book and memorize some things, but think about it. Memorizing IDEA is fine, but if you do MCQs, SIMs or just write out everything that goes on an income statement in order, you're doing AND memorizing. The more problems you do, the more the stuff becomes second nature.

And the answer is no, you do not need to memorize everything Gearty says to highlight. It's simply impossible. Do MCQs over and over and over, and you'll feel like you don't know enough, but you'll be adequately prepared for exam day. Concentrate more on the passkey information, bond stuff, etc. Save the outright memorization for govt/NFP. Test your knowledge by doing the SIMs.

I don't know if this is your first exam, but I spent about 50 hours on my first section of my first exam and was still crying in my drink that I didn't know it well enough. People here told me, MOVE. ON. It will all come together. I didn't believe them, but it happened. And then I felt that same desperation when I started the other three exams. But it DOES come together. You must budget review time in each week or so, though. Don't just look at F1 in the first week and then not again until you're in your final review. Always go back and do some progress tests or reread the chapter.

Hope that helps!

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[Author]

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