[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

[newuseracc]

I just started f10 last night, it has been easy so far but they just threw complete gibberish at me with this:

“After three profitable years, Dodd Co. decided to offer a bonus to its branch manager, Cone, of 25% of income over $100,000 earned by his branch. For year 4, income for Cone's branch was $160,000 before income taxes and Cone's bonus. Cone's bonus is computed on income in excess of $100,000 after deducting the bonus, but before deducting taxes. What is Cone's bonus for year 4?”

[so1913]

I'm up to F9 reading and taking handwritten notes and homework (did all lectures first and notes in book). My test is next wed and I still need to start reviewing everything an figuring out where I'm weak and refresh on all the stuff covered like 2 weeks ago :/. Maybe I'll skip handwritting notes and just read the chapters and then do MCQ just so I can get through F9-F10 so I still have at least 5 days of overall review 🙁 I don't know about this one ya'll…

AUD - 90 Pass
REG - 70,61,81 Pass DONE DONE DOOOOONNEEE!!!!!!!!
BEC - 79 - Pass
FAR - 70,82 - Pass

[NYCaccountant]

@ Newuserracc I think the bonus is 12,000.

Excess=60,000

60,000*.25=15,000

15,000/1.25= 12,000

12,000 is the bonus

Excess after subtracting bonus = 60,000-12,000= 48,000

12,000/48,000= 25%

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[newuseracc]

Hahah the answer is 12,000. I didn't put the answer cause I wanted to see if anyone really understood it and couldn't reverse engineer an explanation.

I still don't really understand the logic of it, and the way becker explains it your suppose to pick a random MC in the list of options and see if it works and if it doesn't move to the next, but you did it without guessing and retrying, hmmm, gotta really try to understand this…

[newuseracc]

I guess I sort of get the question more.

It just that at the beginning of the question it's simple, we are gonna give you 25% of income over 100k….then at the second half of the questions its like, ACTUALLY we are going to give you 25% of the amount over 100k after you subtract 25%????

Such a strange question.

[novatrek86]

Honestly, I just took FAR and there were many more theory questions than I expected. Its not all calculations.

[Anonymous]

@nocatrek86 any advice for peeps getting ready to take it soon?

[novatrek86]

If you're using Becker pay close attention to the stuff in F8 and F9. The mnemonic SIRAGE and how to work it may or may not come in handy. Experience taking the test is very much like BEC – lots of varied stuff. Just work the problems man. The SIMS may seem daunting at first but take a breath and plow through them.

[jasbeerch]

Hi Everybody

I am planning to write my exam Nov last week.

I will be using Yaeger review and wiley test bank.

Is 3 months enough for FAR prep?

Please give me some suggestions for how to make a study plan for this exam

[Anonymous]

Hey guys, I'm freaking out. I spent all weekend taking notes on FAR chapters, but am still getting in the 50s-60s on the Becker homework. Any suggestions? My test is next Friday. I've passed all the other tests without a problem, but am having a lot of trouble with FAR. Unfortunately I work full time so I can't do much studying during the week. I was planning on hammering through a ton of multiple choice this weekend, but I don't know how much more help it's going to get. My problem isn't that I don't understand the material, I just can't remember all of it.

[Anonymous]

bruincpa im in the same position. i just can't remember all of it since its not pure theory like audit. Too many exceptions and differences to really know this book. I had no trouble studying for any of these exams but FAR.

[Anonymous]

Yeah I agree. REG had a lot of material and exceptions too, but way less than FAR and a lot of it was interrelated, which made studying easier. I also honestly think I may be mentally exhausted, I've been working and studying since early April, essentially nonstop (took REG in end of May, BEC in end of June and have been studying for FAR since). I'm considering taking a couple days off this week to give my brain some rest, but I'm not sure whether that'll do any good since time isn't on my side. I just keep thinking how I can't not remember ANYTHING (even though it feels like that) after studying for almost two months, right?

[NYCaccountant]

I don't learn with the mnemonics. It seems impossible to commit all of that to memory, so I just learn the theory behind every chapter so far. Trust me when I say that I don't know every detail, but I understand the theory and that helps me a lot when trying to figure things out. The exceptions really become a pain though with capital leases, diluted earnings per share, and using the corridor approach to amortized gains/losses into pension expense.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Anonymous]

@NYC accountant. I'm the same way. I've never found mnemonics all that helpful for me when it comes to the CPA Exam. I think the only thing that really stuck with me was the components of OCI – PUFER. Other than that, there are just too many to commit to memory.

[Anonymous]

@bruincpa — I feel your exhaustion. At least you just have one left to go! I have been studying for almost a year solid (Since Sept 3 last year) and I am so sick of doing this! Once I get FAR out of the way I will be so relieved.

Then it'll be back to that damn REG.

[Author]

Replies