[Trevor]

Hey everyone, just looking for some last minute advice on subject to tackle… I have “general” knowledge on most everything. Do you have any advice on what I should Master? Inventory, Fixed assets, bonds, leases, stockholder’s equity, consolidations, investments, foreign transactions, cash flows, governmental, or non-profit? I have one day of study left, but do not feel comfortable enough to relax today…

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[Anonymous]

From all the topics you've listed, had either multiple MCs or simulation tabs on them. Guess go over journal entries. For Gvpt & nfp they only test the basics but it's about 25% of the multiple choice. If you got the basics, you'll be fine. Be familiar w acquisition method, fair value concepts, eps including diluted, ALL bond types, both cash flows methods. Good luck.

[whitesoxfancpa]

There are so many things they could test you on in FAR. My approach was not to waste too much time on the little things. If your review course, whatever you may be using, only has one question on, say, LIFO retail method, don't even worry about it! The odds of getting a question on that on your exam probably aren't great if the review didn't concentrate on it. Know the “big stuff.”

FIFO/LIFO/weighted average

Periodic/perpetual,

Lower of cost or market

Depreciation methods

Amortizing bond discounts/premiums

Trading/available for sale/whatever that other one is that I forgot already

Stockholders' equity – cost/par methods, basic and diluted EPS

Cash flows

Government accounting

And so on and so forth

I think you get the idea…know every topic, but don't worry about all the little tiny things within each. If you have a good grasp on the big stuff, you'll be fine. If you get a question or two on little stuff within those topics, maybe you'll remember it, maybe you won't…but I doubt that'll make or break you. The big stuff will. For example, I didn't study all the financial statements of government/non-profit very much, but I did know all the government funds and which group they belonged to. I knew which ones used modified accrual and which ones used that other method I can't think of right now. I took that approach in just about every chapter. Know the stuff they stress, trust your review course, and you will have success.

Anywho, that was my approach. Good luck to you.

AUD 96 FAR 95 REG 94 BEC 88

[Trevor]

Thanks to you both! sounds like I have a little more to do, but looking pretty good (I hope)

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[Florida_Candidate]

I would take a progress test and see which sections you're weak on and just reiterate one or two sections and then try to relax 🙂

FAR-91 (7/29)
AUD-99 (8/23)
BEC-90 (10/1)
REG-99 (11/3)

[Trevor]

I've done 2 – 30 MCQ exams with the Wiley software and got 19 on one and 22 on the other. I plan to do some more of these as well as the AICPA released questons in the Wiley book. Thanks, I know I need to just chill but its so hard lol.

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[whitesoxfancpa]

Trevor,

If your test is tomorrow, I wouldn't study much more of anything today.

AUD 96 FAR 95 REG 94 BEC 88

[Trevor]

Haha I know, I am just doing a bunch of MCQ's… it helps me to retain the info. I am doing like 30 questions in an hr, taking the next hr off then doing it again… Test is at 8:00AM so i need to get some good sleep tonight, not sure I ever sleep well before an exam though

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[fulloflife503]

Trevor, good luck on your exam!!!

I also took the test today (FAR), and it was my first time.

first testlet…okay

second testlet…killed me 🙁

third testlet…was okay again…

I know that the MCQs are adaptive so once I was on the third testlet, I freaked out because it got easier. The sims were not good either. I completely left one tab in the first sim blank…i had no clue. I also left one of the research question blank.

I was shocked at the level of detail required to answer some of the questions. There was one tab of the sim that required real detailed knowledge of something that was covered in 1.5-2 pages in the Wiley's FAR 2010 study book. I've come to terms with the fact that it is more than probable that I failed and will have to retake it in 2011…when it's even harder….ughhhh. I don't have time to re-take it again this year as I have to study for AUD (taking in Nov) and Dec is a black out month.

Luck plays a part in your exam too. My roommate said her exam overall was very board in coverage. I felt mine asked very detailed questions on several different topics that were minor details (I felt) in the Wileys books and CD.

Good luck again!

[Miceli2003]

Trevor, how did FAR go for you? Any ideas, I hate not being able to judge the exams.

BEC - 53, 67, retake 2/28/11
AUD - 54, retake 05/28/11
FAR - ?
REG - ?

[Trevor]

Thanks everyone! ummm the exam was fair for sure… I do not think that I passed, but there was nothing I was like ah damn thats hard as hell. Some of the stuff I was more familiar with than others, but thats normal. I would like to think I did well on governmental and non-profit questions. Some of the calculations, I had to hedge myself (answered similar questions two different ways) because I was just not sure whhich was right, and of course both answers were there… The first sim I know I did well, the second though I bombed for sure. As for testlet difficulty, first was medium, second was wicked tough, and the third was easier than the first… hopefully I just got enough points to get the 75. Trying to stay positive!! 😀

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[Miceli2003]

Always good to stay positive! Although, sometimes it's really hard to do.

BEC - 53, 67, retake 2/28/11
AUD - 54, retake 05/28/11
FAR - ?
REG - ?

[Author]

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