[runhomejack]

I can’t remember all the little details in FAR. For example, when a firm selects the fair value option, with some things you can do it instrument by instrument, and with others it’s by asset class. I can’t remember what “thing” it is like is it the long-term asset? bonds? stocks? notes payable? and then throw IFRS in the mix and AW CRAP not only are there differences but there are different TERMS TOO???? And then OCI can be presented three different ways in GAAP but only 2 for IFRS. And then AW CRAP which method is left out by IFRS??? And then what goes into OCI and then there has to be an adjustinge entry for unrealized gains when you actually do realize gains and you have to remember net of tax in OCI but not for the regular Net Income. And then HOW MANY CASH FLOW statements do I have to know??? And something is an operating cash flow item in GAAP is different for GASB which is different from IFRS and which one has 4 sections? And am I missing a cash flow statement? Oh yea Not-For-Profits too.

BEC - Pass
FAR - Pass
REG - Pass
AUD - Pass

[Anonymous]

FAR seems extremely overwhelming and there's no way you'll be able to remember every single nutty gritty details. However, just keep reading the book and working the MCQs/SIMs and you will start to understand majority of it. At first, FAR seems impossible, but trust me, it gets better and it will all start to make sense.

Just keep at it and you'll get there!…And this is coming from someone who cried every single night studying for FAR. It seemed impossible at first, but unlike AUD & REG, I was able to pass FAR at a 1st try. So it's totally doable.

Good Luck!

[Author]

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