[Anonymous]

Trying to push through the last two chapters in Becker as fast as I can so I can have more time for review. My test is on November 17th. If I hear Gearty say BAE BAE one more time, I might scream! 🙂
Any pointers on absorbing this awful material? I find that individually it’s not hard, just a lot of weird nuance….I looked ahead to Chapter 10 and oy!

[Ana]

for me it literally took time for it to sink it. it's all such new info, I have no govt experience, and unique. try your best to get it down as much as you can since it's heavily tested along with nfp. I find that doing mcq's on the topic is best since when looking through 2 chapters of govt makes it all muddled.

[Anonymous]

I agree-thank you! it's funny-the blueprint says 5-15% of the test, but everyone says it's heavily tested…I usually go in assuming everything I don't know will be on the test, so plan on studying everything!

[Tim]

Spend time looking at the actual government-wide and fund financial statements. I actually pulled up my state's financial statements (Tennessee) and it helped it sink in for me. Identify which funds are governmental activities and which are business-type, noting that internal service funds are accounted for like enterprise funds but are actually governmental activities. Then just identify the difference between the governmental funds current resources model leading to the modified accrual basis of accounting versus the enterprise and fiduciary funds economic resources model and accrual accounting.

That 5-15% of the test number is really misleading. I mean if you were to ask how much of the test is on inventory it would be like 2% probably. Does that mean you should neglect to study inventory?

[Anonymous]

@Tim-no, I don't normally look at those percentages at all-I agree with you completely. You have to study everything like your life depends on it:) I think people probably say it's heavily tested because it's such a confusing topic and really easy to lose points on…Like IT and BLaw in BEC and REG. Those blueprints are useless:)

[Parthamis]

Hey anyatver. I can tell you what I did which is much different I think, and probably not recommended by many. For Govt and NFP, I took a day and read through the chapter in the actual advanced accounting textbook… Then I hit the becker lectures and questions.

It may seem like a lot, and it is. Its like an 8 hour job for GOVT and NFP each to read those chapters in you are a slow reader, with breaks included. But it worked for me, and I got through those parts more easily when I was studying for FAR.

[Anonymous]

@Parthamis-a part of me is sad I got rid of my advanced accounting textbook which had that in there! I think I definitely need to at least read the Becker book over again. I have kind of been all over the place just trying to get through it. a part of me is just eager to push through it to get to review, so the exam day comes faster. This is my last one (hopefully!) so I am a bit impatient. I will try to slow down this weekend and systematize everything in my scattered brain.

[Jen-J]

Honestly, it didn't really start to gel for me until the end of Chapter 10, when they started to show us more journal entries. If your exam isn't for another month, maybe spend the next 2 weeks on Chapters 9 and 10, and then start review?

[Anonymous]

@Jen J-this week and next is what my study plan has for Chapter 9 and 10…I was hoping to get through it faster, but thinking that it's probably not really going to work. What's the point of getting through it faster if you aren't retaining anything? I think if I at least am done by next Friday with an extra weekend for review, it would be ideal. I might also hit Ninja for this now, just to solidify. Thank you!

[Earla Riopel (NYCARE)]

For me, I have to forget about my Advanced Accounting textbooks. Though they are still usable for the most part, not only it's Canadian edition, but it's 18 yrs old.

So far, Becker covers Governmental Accounting really well. I have a Becker PDF copy of 2014 FAR's book. But if you don't want to use you're Becker materials, you really have to checkout Ninja Plus videos (by Mr. Monette), and Ninja's MCQs/SIMs for Governmental Accounting & NPO topics. It's worth your time, especially if you're making notes of the videos & ‘missed questions' of your MCQs/SIMs app.

Good luck.

[thisismyname]

I don't see any governmental SIMS available in Ninja but I do see them in Becker – does anyone know if Government/NFP are more likely to be MCQ or SIMs?

[Mike J]

Think of it this way, it's all available for testing so you'd better understand the underlying concepts.

For govt I'd get comfortable with the basic journal entries–budgeting, opening and closing an encumbrance, imposing a tax levy and collected proceeds. Also, know the differences among the different kind of funds. Let the name guide you.

For non-profit, I would keep in mind that a nonprofit does not emphasize profit. It's basic but very important. Keep in mind that the focus is to show users of the financial statements that you are properly using the donations toward the mission. Eg you have to reconcile among temp and nontemp net assets when you take earmarked donations and then use them for their purpose or when time restrictions expire.

So don't memorize to memorize. Just take a step back and think about what it all means.

When I did that I no longer felt swamped.

[Silent]

I took gov and non profit class and i am still a bit confused about the material. So do not feel too bad about it.

[thisismyname]

I can only describe this feeling I get when studying fund accounting as learning road rage.

[Cobalt60]

I took a gov't nfp class during the summer just before I took FAR. It was really helpful to study for FAR while taking the class.

About 20% of my MCQs were gov't/nfp. Roughly evenly split between the two. No SIMS.

On AUD I had a couple of gov't mcq's. On REG I had two nfp questions.

I was trying to explain gov't/nfp accounting to someone. You see they keep two sets of books… it just went downhill from there.

[Jimmy Dugan]

Look at the Bob Monnette vidoes in Ninja. The stuff hasn't changed that much since they were filmed, and they are far and away the best resource you will find on governmental and NFP. I think both of them combined span around 4 hours, but it is well worth it. Gearty and everyone else going through governemental are essentially reading the book to you. Monnette tells you why, then shows you how. Those Monnette videos alone are worth the price of the ninja subscription.

[Author]

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