FAR Study Group – Q3 2018 - Page 10

Viewing 15 replies - 136 through 150 (of 239 total)
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  • #1878661
    orbit1012
    Participant

    Hi @CPAat21 , in response to your post:

    1) I highly suggest to follow the final review Becker provides the best you can and not to blow through it. The final review is SUPER helpful to pull of the information the FAR book spits at you. During my final review sessions I would always take notes just like I did during the regular lecture sessions. This was time consuming but very helpful in making the material stick. Read it, write it, remember it.

    2) The SIMs are a different story. The practice SIMs Becker provide are great at showing you what you will expect on exam day in terms of format, however, that is where the usefulness of them ends. The SIMs on the actual exam are tricky, lengthy, and will take you time. My suggestion is to budget a max of 2hrs for the MCQ's and 2hrs for the SIMs. There are only five, but like I said, they're tricky, lengthy, and you definitely want to make sure you can get to every problem on the exam. I have heard from a number of people that they take the exam, feel confident on the MCQ's, and then are not able to finish all of the SIMs. In summary, time management is crucial on all of the exams and Becker's SIMs are really good at helping you budget your time.

    3) In terms of the study materials I used I only used Becker (sorry Jeff), I felt that it prepared me enough, but if you feel you need more MCQ's to work on or different SIMs to do, by all means purchase extra materials. Everyone is different and what worked for me may not work for you. You just have to find your study groove!

    Best of luck with your exams, as long as you stick with it and don't get knocked off of your study plan you'll do just fine.

    FAR – 81

    REG – 87

    AUD – 76

    BEC – 81

    #1879069
    Anonymous
    Inactive

    For this exam, I knocked mcq's out in 1 hour and used 2 and a half hours for SIMS. Could've used the final 30 minutes but kinda just said “oh well” and hit submit.

    #1879666
    Anonymous
    Inactive

    The multiple choice took me about 1.5 hours and I felt very confident in my answers. The simulations were extremely difficult for me. The only one I felt confident in was the research question. I used Becker exclusively and felt that the simulations on the actual exam were much more difficult than anything I ever encountered in my Becker review.

    #1879678
    Anonymous
    Inactive

    The study process for this section is just so different due to the volume. I began studying 3-4 weeks ago and use Roger and supplement with Ninja. I’m halfway through the material and if I do a quick that’s cumulative I’m trending in the 70s-80s. However if I focus on one specific topic my scores drop some (depending on th section) because of all the odd and questions that test the exceptions or odd circumstances.

    I know the exam isn’t going to have 30 lease questions, but getting those scores is deflating and makes me think I don’t know it well enough yet.

    Do you guys just keep moving forward and reviewing or do you stop and go back to master all of the unique situations in addition to the general concepts?

    for example, I’m mostly comfortable with leases, but sales leasebacks give me fits.

    #1879912
    nahlij
    Participant

    I also just took FAR. Some takeaways for me is that I took too long to study. It took me 3 months overall, but the first month i was studying very little each day, that by the end of the week, I had forgotten some things. The last months is when I was studying everyday, the whole day. If i could go back, I do study for about 1.5 months and everyday. It sticks a lot better trust me.

    The exam:

    If everyone is saying the same thing, then it's true: The MCQ I am pretty sure I killed it thanks to Becker. I understood every MCQ Becker gave me and I honestly used the Final Reviews as more study material, I didn't actually take it as a real test.

    I skipped PARTNERSHIPS (I got 0 questions in the exam, not sure if i was lucky), DEFERRED TAX/INCOME TAX section.

    The SIMS were RIDICULOUS. I don't understand why it was so difficult, but it has to be because Becker did not teach the material that was given in the Sims. I am going to go back to Becker and check to see if there were any similar Sims but I doubt it… Definitely give yourself 2 hours to do the Sims because I pretty much ran out of time even with 2 hrs to do the sims…they are very hard and tricky

    #1880488
    El
    Participant

    @nahlij I'm studying for FAR now but it looks like it will be a sure bet that whether I pass or not will depend on the simulations. Which was/is the same for AUD.

    #1882372
    Graham
    Participant

    Just took FAR. Multiple choice wasn't bad at all. The sims were extremely time consuming. Didn't leave enough time for them. Hopefully I did good enough on the multiple choice and earlier sims to make up for having to rush at the end! The ninja questions helped a lot with the multiple choice. Now I get to wait a solid two months to find out if I pulled the 75 or not!

    #1882504
    Julia
    Participant

    @4Matic When is ur test?

    #1883389
    Julia
    Participant

    @Nahlij thank u for the advice. I test Sept 8 so I'm reading Becker as quick as possible.
    I incorporate Becker info into my NINJA notes. I use diff colored pens & write in blank space.
    I then re-write my notes bi-weekly & pound MCQ.
    Thoughts on my strategy?

    #1883392
    Julia
    Participant

    @Graham I'm sure u did better thank u think. It sounds like u really committed to the material.

    #1883479
    Anonymous
    Inactive

    @julia it’s August 3rd.

    #1884901
    Shayla
    Participant

    Hi guys,

    I am a recent graduate (bachelors in accounting), who is currently working full time, and recently started studying for FAR. I have chosen to utilize Becker as my review course (self study) and have been having some difficulty fully grasping some concepts. I am still on chapter four, which puts me way behind schedule because I had planned on taking it end of August. I had originally planned to give myself 11 weeks to study and take this section. I know that's a bit longer than average, but I figured it was ideal with my busy schedule.

    The Becker textbook and lectures are too brief for me and does not really explain things enough for me to understand. I know I am expected to use other resources on challenging topics, I have referenced my old class books, notes, and Google – but all of this is very time consuming. In addition, the Becker homework problems are challenging, but their explanations for the answers don't always do it for me. I still find myself confused after reading some of the explanations.

    I am now considering purchasing Ninja review for FAR to supplement my learning material and MC questions. My only concern is that I am not sure on how to best use it, along with Becker. For all of you that have taken/currently studying for FAR using Becker and Ninja, what was your studying technique? Did you use the Ninja notes and audio as a review at the end of each chapter in Becker, or after all ten chapters? Did you still complete all of Becker's homework problems in addition to doing the Ninja ones? I just want to know if I can manage additional review material, as I am already behind my schedule, and very limited on time with a full time job.

    Thanks!

    #1884904
    Ghenah
    Participant

    I think the question utilizes “Conservatism principle” where an exchange inventory is indeterminable value. Therefore, you should maintian the value of the new asset at lesser cost to avoid “Overstatement” the foregoing asset.

    #1885915
    Julia
    Participant

    @4Matic I read the Becker book & incorporate info into my NINJA notes in diff colored pens. I then re-write notes weekly or biweekly. I kill MCQ.
    But I don't hang on to the little details on subjects. U might get tested, u might not.
    In AUD I got 3 questions on some subject I thought was unimportant & Becker had a quarter of a page on.
    Take on the information u can & move on. It's too much info to get bogged down.

    #1885918
    Julia
    Participant

    I also do NINJA audio on a loop. I out of school for 15 years so need all the info I can read.

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