[kalisacboy]

I’m planning to take FAR this April. I’m wondering should I pay more attention to IFRS than GAAP? I know there’re many differences between those two and it’s a lot to remember! I’m trying to figure out what’s the best way to study for my exam. Thanks.

AUDIT - 78 (8/18/2011)
REG - 78 (11/30/2011)
FAR - 87 (5/4/2012)
BEC - 79 (8/15/2012) I'm done!

[OnMyWayToCPA]

I wouldn't advise devoting more attention to IFRS than to GAAP. The majority of the exam is stil over GAAP. Just dont skip over IFRS stuff because you will see some on the exam.

Also, be prepared that slowly more and more IFRS questions seem to be creeping in.

Good Luck!

B - 79 PASSED (1/4 there!)
A - 77 PASSED (1/2 there!)
F - 79 PASSED (3/4 there!)
R - 83 PASSED (DONE!!!!!!)
Review Course: Lambers , Wiley and Ninja

[HustlinHustlin]

Took it yesterday and all I can say is YES! Pay attention to IFRS!

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[That Cartoon Mouse]

I think the lesson is don't blow off IRFS. If you're using a review course, it'll probably have the right balance between IFRS and GAAP, which is to say, mostly GAAP and some IFRS. I believe that in 2011, Roger (of the eponymous review course) said that the AICPA told him that IFRS would be around 10% of the exam, which is about how much government is supposed to be, right? So it's not huge, but you can't ignore it.

(If you got more than 10% consider that your memory is inflating the percentage because those questions were harder or that a bunch of those questions were not graded.)

There's no magic bullet for this; study for everything that is fair game for the test because you won't know what's on your particular test till you're taking it.

REG 82 (10/07/11)
BEC 88 (11/01/11)
FAR 86 (11/21/11)
AUD 82 (11/30/11)
----------
Roger CPA Review, live & cram course

[rknight21]

@hustlinhustlin, how about consolidation and elimnating entries, do you believe this was tested much?

[HustlinHustlin]

Yes, make sure you know the cost and equity method, how dividends affects each and how to record them.

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[rknight21]

What you replied with is butter. I know that stuff like the back of my hands…. I was asking about eliminating entries when consolidating. Do you believe that was tested alot? That's one of two areas I am lazy to learn at this point.

[Minimorty]

Probably best not to discuss specific exam content.

[Author]

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