[jeff]

FAR Resources:

Free FAR Notes & Audio – https://www.another71.com/cpa-exam-study-plan

FAR 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

FAR Score Release: https://www.another71.com/cpa-exam-scores-results-release

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

Hello fellow NINJAs! I hope everyone's FAR studies are going as well as they possibly can. I have a question relating to deferred income tax assets/liabilities: How do you know which permanent/temporary differences to add to or subtract from pretax income to arrive at taxable income? A good example of this is HW problem #30 in Becker F6, which involves permanent differences deriving from municipal bond income and life insurance. I have the methodology down, but I am getting these simple questions wrong because I can't figure out why certain differences are additions and others are subtractions from pretax income. Any help is greatly appreciated – thank you in a advance 🙂

[Anonymous]

@Mike1987, I am looking over the ratios and memorizing only the basic ones for FAR. I wasted a lot of time in my AUD studies memorizing ratios which I had a feeling were not going to be on the test. I was, in fact, not tested on any of those ratios. That being said, with all of the other important material in FAR, the F7 ratios are anything but a priority of mine, but at the end of the day, it's up to you what you want to focus on in your studies.

[kels417]

@mypetmeatball review is going sloooow for me. I'm reviewing chapter 9 today and will do as much Ch 10 tomorrow. Then take a practice exam Monday. And then it's on to simulations. I'll be doing the Becker sims as well as the gleim ones. I've been doing a chapter or so of flashcards every night and progress tests after each chapter. This will be my second shot at FAR and so far, all of my progress tests have been considerably higher (10-30%). Which is exciting since I was so close with my 72 last exam. How is your review going? Please share! 🙂

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[big K]

Hi everyone!

I am taking FAR for the 1st time at the end of August; I am using Becker self study. I work in a very obscure area of tax so a lot of the items in FAR are very challenging for me. I am just not getting Lease Accounting (F5)….typically when I am studying I get the information some what…and I just keep plugging away at problems until I “get it”. But Lease / Bond Accounting is just going over my head. Since Becker isnt working I was thinking of getting the Ninjas notes / audio – can anyone can share their experience with them? Any other products anyone can recommend? For BEC and REG I used Becker self study; for REG I supplemented with the Wiley test bank.

thanks! and good luck to all!!

[mypetmeatball]

@kels it's going decently, thanks for asking. I was doing well (80+%) redoing all of the homework until I hit a bump in the road with F5. I feel like I understand MOST of the concepts behind lease and bonds but just have some sticking points that I need to iron out. Pensions will probably be the same way. If I can figure out F5 and F6 a little more I'll feel much better. My biggest concern is obviously the sims, I've barely practiced any and I'm really shaky on a lot of JEs

[Anonymous]

ok.. I'm taking my first FAR exam on this Monday…

Any tips on how I might be able to maximize my preparation for the exam tomorrow (the day before the exam?)

Should I be going over more MCQ problems? reading notes? going over IFRS stuffs? governmental stuffs?

[iwantCPA]

I am currently studying for FAR and I realize every chapter/topic has journal entries. I was wondering if anyone can provide suggestions on what topics to focus on in terms of memorizing journal entries (bc I don't think I can memorize all of them)? Thanks!

[holbythebear]

I started studying for FAR after taking REG last Monday. My test date is August 13 (NTS expires). I had originally started studying in February/March for a May exam, but life got in the way and I stopped. I definitely regret that now because I've forgotten a lot of material!

My background is in government accounting, so I have what a lot of candidates call their hardest subject drilled down from 4 years of working in government accounting. I also noticed this was about 1.5 chapters in Becker. I'm still planning on reading and doing the MCQ's in those chapters so I don't miss any points!

From what I've learned in REG, it's not wise to be just familiar with subjects…especially subjects like IFRS. The questions on the exam are pretty easy on the basic theory types questions, but they can be difficult if you can't remember the exact detail of a topic. So on FAR, I'm planning on nailing down basic theory, IFRS, Gov't, and NFP since this seems to be the downfall of a lot of candidates.

I'm doing the assigned questions and sims that Yeager suggests in the Wiley book and understand all the examples in the Becker book, but I don't think I'm going to do any mcq's outstide of those. I will do all questions twice. This way, I'll still have time to memorize flashcards and certain charts in the books.

Sorry for the long introduction, but I want to look back and see if this plan worked.

AUD - 5/13 85
REG - 7/13 73, 2/14 84
FAR - 8/13 82
BEC - 12/13 80

[kels417]

@mypetmeatball, I'm right there with you on F5. I feel like I'm starting to figure out the leases, but bonds are just not my forte. Sims…ugh! Hate em. I'm going to take a practice exam tomorrow and then do nothing but sims the rest of the week. Especially focusing on JE's, which as most candidates, is my weakest area. ~80% on the homeworks is really good. Keep that up and you'll do great on the real thing! Based on your other scores, it looks like you've got a good study technique going.

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[Anonymous]

Hi everyone!

First time poster 🙂 I am currently starting my CPA journey and am setting my sights high to get all four parts over with by mid November. I just started my first review course using Becker on 7/1 for FAR and am planning to sit for 8/10 for it. Can you guys give me some advice pleaseee. I am really struggling with confidence because F2 just killed my soul and after getting several wrong in a row I was just over it and don't even feel like completing the homework (even though I will). I do not start my FT job until 10/31 so from now until then it's just CPA studying. For those of you using Becker, what seems to be working for you guys? I watch the lecture videos first and take notes in the book, then read the entire chapter and take additional notes, then work on MCQ. But I don't feel like I'm being efficient because at least 10+ is done reading and taking notes before I get to the MCQ which are taking me a good 6+ hours. Also, do you guys recommend getting additional supplements such as Wiley Test Bank or Ninja Notes? Any help is appreciated even if it's just a motivational pep talk 🙂

FAR 8/10

AUD 8/31 (May not end up happening until Oct)

REG 10/5

BEC 11/1

[Mike1987]

@CPA Dilemma. You are doing something similar to what I am doing. I watch the lectures, re-read while taking notes. Then I go over the flashcards to get important bits that I may have missed before finally doing the Homework. It is painful and slow, but it has worked for me for all the other sections. F2 homework is super tough especially when they seem to ask very obscure questions that has little tricks not even related to the main concepts. I barely broke 72% overall 1st time working through it. Just keep plugging away and we shall pass =D. I have ninja notes and I think they are a great tool for a quick final review leading up to the test to make sure you know the major topics.

[mypetmeatball]

I would give anything in this damn world for multiple EPS simulations. It's the only topic in the entire book that I feel like I know backwards and forwards.

[kels417]

@cpa dilemma…keep at what you're doing. Repetition is the only way. It's painful and slow, but then again, so is this entire process! Don't get discouraged by your scores in Becker. Learn from your mistakes and make sure you read the explanations for what you miss. It may feel like you know nothing and should just give up (don't you do it!!), but you have to look at it all as prep for the real thing. Better to make those mistakes now while studying and learn from it than to do it on the exam. So keep that chin up and push through!!

@mypetmeatball…haha!! No way will that happen. Prepare for journal entries from each chapter. And maybe something absolutely ridiculous like creating an entire statement of cash flows using both the direct and indirect method. I don't put anything past these crazy test makers! But I guess one can hope! 🙂

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[Anonymous]

Thanks everyone for the advice! I will definitely keep plugging away at this. I realized that I am weak in the first two parts of F-2 so I will be rewatching the lecture and reworking the homework at a later time because I don't want to get off track right now and caught up on F-2. Do you guys suggest keeping a separate notebook for HW and doing them on paper that way I can review the problems? So far I've just been working them on that spreadsheet tool or calculator but not writing any of it down.

I didn't even know we could do progress test lol My Becker portal hasn't been right since they did an update on Wednesday. I can't see any instructor announcements and the study planner with all the lectures and my progress is all blank now so I've been preoccupied with getting that fixed too.

Big props to all of you who are reviewing and working a job with families because this is no joke. But I guess if the CPA was easy then everyone would be an accountant 🙂

[Mike1987]

@CPA Dilemma. My software has been acting up as well. I keep getting popups telling me to update my homework material except the download never completes. Anyone else having this issue with Becker 2013?

[Author]

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