- This topic has 1,059 replies, 174 voices, and was last updated 8 years, 3 months ago by
mtaylo24.
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May 31, 2017 at 6:56 am #1562995
jeffKeymasterWelcome to the Q3 2017 CPA Exam Study Group for FAR. π
Introduce yourselves and let your fellow NINJAs know when you plan to take your FAR exam.
The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/
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July 20, 2017 at 9:52 am #1587975
WannafreeParticipantJuly 20, 2017 at 9:57 am #1587977
WannafreeParticipantJuly 20, 2017 at 10:08 am #1587986
HiracpaParticipantThanks so much for the tips @wannafree. I went to a FAR bootcamp (through becker) this last weekend and the instructor said AUD was the easiest in her opinion. I didn't think audit was that easy, actually. So glad to know REG can be easy as well, it doesn't seem to go that in debt with taxes and seems mostly memorization. FAR is actually kicking my butt, just getting through the lectures and mcq's seems to be an accomplishment; but this review is making me extremely anxious. Whew for the government wide reconciliations.
July 20, 2017 at 10:24 am #1587996
BBHYXParticipant@wannafree I agree that people are adapting to the test! Q2 freaked everyone out because no one was expecting the huge sims. Now everyone goes in dreading them, and comes out with a “it could have been worse” mindset. I found the FAR sims with many support documents to be less tricky than the AUD ones. The FAR memos/emails/invoices/etc seemed straight to the point and I found it much easier to pull out information that I needed for the problems. AUD…another story …
I see that you wrote before you thought REG was easy. Do you have any advice for that? I personally find FAR much easier and am having a hard time with REG. Should I just memorize, memorize, memorize?
July 20, 2017 at 10:29 am #1588014
AnthonyParticipantNobody was expecting them? The AICPA was hyping them up like there no tomorrow. Every time the AICPA would make a news article on the new exam they kept emphasizing ‘higher order' skills. Hell, sims with supporting docs/DRS isn't even new. They have started testing it like last year, but it wasn't as heavily tested like this new format. Sounds like people just didn't came prepared π
July 20, 2017 at 10:33 am #1588017
HiracpaParticipant@xyz107 Out of curiosity, What makes REG hard for you? I find with FAR, you cannot really memorize and the time constraint is a big road block. I took all of my time with Audit, so i cannot imagine how it will be with FAR.
Reg is next for me. I saw the lectures are quite long, but I'm just imagining it to be mostly memorization. What are your thoughts so far?
July 20, 2017 at 11:13 am #1588053
QueenCPAParticipantWho is taking the exam during the second week of August?
July 20, 2017 at 11:15 am #1588056
QueenCPAParticipantJuly 20, 2017 at 11:36 am #1588076
WannafreeParticipant@HiraCPA, since Becker AUD guru told you AUD was easy let me clarify.First let me tell you that now I know AUD I can say AUD is easiest and that won't be lie but it would be after the pass comment not the before the pass comment.REG I am saying before pass view.You can get idea.
@xyz107 when is your REG exam ?Let me know what problem you are facing in REG ,accordingly can suggest tips and will send you Mnemonics.
Now details : In REG you know what need to be stressed or memorized ,it's obvious e.g. Filing status types ,eligibility etc .Contrary to widespread believe you don't need to memorize amounts like phasing out etc.
They test heavily on concept and that's logical .You may check my post I am a humble guy and don't boast but can say I haven't memorized any numbers for REG as they don't ask those types of questions.Again (Tim Gearty LOL )if this your last paper then you can cut the cake after exam is over.
Now AUD : AUD is very deceptively simple section and if you read the Becker's or Roger's for one week you will feel you are well prepared but check this forum and you will find most tragic repeated cases of 71-74 in AUD.Why ?
Let me give a metaphor :They will describe a scenario,Rita came to CPA with light makeup wearing long beautiful skirt for filing her annual tax returns .She was married and divorced on 31st December 2016 and her Gross annual Income was 123000 and she maintains the home where her two sons stays with her.One son has gone to college and get scholarship of 3000.etc etc.These info would be spread in 4-5 tabs and long lines of info.
In REG they will ask calculate the annual income of Rita.
In AUD they will ask what was the color of Rita's skirt ,you may search in AL? You will remember that Tim Gearty had once mentioned about colors of skirts of Rita or Anita or Margarita but not sure which color of skirt was for Rita ? LOL
I hope I make sense here .You have all information available for calculating annual income of Rita in that question and if remember the steps ( Mnemonics ) you can calculate the SIM in 15 minutes.
But in AUD you would scratching your head to recall it was black skirt or Blue ? I remember one of them was having Deep blue skirt for sure but who was she ? LOL
Now you may think okay so in AUD they ask mundane things that's easy Nope in next question they will give you to to calculate the Ratio which have done in BEC and now forgot it completely.
If pay attention to these semantics of AUD sure you can pass.I will post tips for AUD sometimes.
One more good thing about AUD you can get anything between 65-74 without paying attention to colors of skirts.
If my today's post is not making any sense to you that's okay as today is Thursday and I am in mood to go home.Post edited – please read the forum rules:
https://www.another71.com/cpa-exam-forum/topic/cpa-exam-forum-faqs-and-help-center/
We arenβt trying to be sticklers – just consistent.
– Mod NINJAs
July 20, 2017 at 11:55 am #1588088
BBHYXParticipant@Hiracpa I have never been strong in my tax classes so part of my struggles probably just comes from a weaker background (compared to FAR topics). I find that tax is full of nuances and rules that do not seem to have reason — something is a certain way just because tax laws say it is. Aud was heavy on memorization as well but if you understand the audit cycle and the purpose driving it, everything kind of falls into place. So far, tax seems like a smattering of random topics that do not fit together. I don't believe this is actually the case — I think I am just missing the big picture and do not “get” tax. Others probably do not have this problem.
@wannaFree I will surely email you about the mnemonics. My exam is in around 4 weeks, and I am studying full time.
July 20, 2017 at 12:58 pm #1588160
jeffKeymasterNew podcast in case you missed it π
Full Post: https://www.another71.com/cpa-exam-task-based-simulation-time-management/
July 20, 2017 at 1:17 pm #1588193
Andria – Another71KeymasterJuly 20, 2017 at 4:17 pm #1588268
JMGParticipantHello group,
Just finished my AUD exam and began studying for my August 31 crack at FAR. I'm finding that the Becker MCQs are taking up a lot of my time and I'm just wondering how others are doing with it. For those that are using Ninja, how do you feel about the MCQs in terms of time management, are they more efficient? I know Becker tends to beat concepts to death in the MCQs, whereas Ninja is not as repetitive.July 20, 2017 at 4:27 pm #1588271
mtaylo24ParticipantJuly 20, 2017 at 4:27 pm #1588274
mh25ParticipantHi everyone,
I just started studying for FAR (this is going to be my first of the exams), and I have a question regarding the SIMS. I am using Becker to study, and so when I open any individual practice SIM, it has a certain number of tabs (say, 7 different tabs that you can find at the bottom). On the actual test, would this whole SIM, including all 7 tabs, be ONE task based simulation? Or would it be equivalent to seven? Sorry, just a bit confused!
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