[Wannafree]

Hi FAR Gurus
I am retaking FAR after a fiasco in March and going through Becker’s review and Ninja MCQ.I know everyone is different but still want to know from others which FAR chapter/chapters you feel is/are difficult and I must know.
Earlier (till Q1 ) most people were suggesting GOVT/NFP as must know chapters but as per new CSO it’s percentage is reduced to 8-10% .
Your inputs are really appreciated.

[Small4]

To me, i underestimated:
– investment in bonds BOTH directions and leases,
-combinations,
-goverment JE (esp for the SIMS, like know it in and out, and both directions)
-cash flow indirect and direct

….i failed with a 68, 73, then finally an 82 just by making sure i have comfort that i can generally answer a topic without going “ok i have literally not seen this at all”

I literally basically did 10-15 questions (mixed with conceptual as well as actual calculation questions) for each topic and just learned each set of 15 question min-tests for me to gain comfort that i know the topic and how it will be asked/phrased. Usually i struggled with answering what exactly the question is asking especially on the SIMS.

BEC - 68,70,72,75 5/15
AUD - 78(expired), 77 8/15
REG - 29,58,65,77 1/16
FAR - 56,68,73 - retake October hopefully (last shot)

Been doing this since 2007 on and off...

[RockLobster]

Absolutely F1-f3 were the worst for me. F8-F9 gets a lot of hype because government/nonprofit accounting sucks, but really the menmonics help a lot, and once you get those down that's not much to it. F1-F3 on the other hand hits you with this tsunami of content… I would focus on those chapters the most.

[Anonymous]

Huh, I didn't know GOVT/NPO was down to 8-10%. Although, I'm hearing people say on here that their test felt like it was about 50% GOVT/NPO…under the old format anyway.

I don't know what the most difficult chapter really was. Derivatives are a freaking pain in the butt, consolidations/business combinations are no real picnic either. It depends on the person and how much background and how much of a knack they have for these topics.

Often times the stuff you study the most for these tests won't even be on it. I had leases down cold but guess what? Not a single question about them on my test. There were also a lot more “dictionary definitions”-type questions than I expected. And way more IFRS too.

Know the easy stuff reeeeeeeeeally well. I think I studied all the hard stuff too much and that was what got me. Not that I didn't know the easy things but I just wasn't really thinking about them, at least not on exam day.

With the new format coming up, it's hard to say what needs to be done as far as studying. I'd say like maybe in Q4 people will have a better idea about it, once word gets around about
the new format.

[Anonymous]

The CPA exam is a mile wide and an inch deep in terms of content..

Nothing like studying to understand business combinations and the journal entries, then you get some simple questions that make you go WTF, I ignored that part of chapter! Where is the hard stuff I studied. Such is the nature of the exam.

Just have a slight understanding of most topics..balance is the name of the game

[Anonymous]

I like the analogy @cessnapilot!

I knew a moderate amount about everything in FAR. I still haven't passed it though! I don't think I was particularly deficient in any area.

I was a VITA volunteer too. I didn't do it this past year though. Too many of the people who came into our site wanted us to help them cheat.

[martimann]

I think I was able to understand all topics pretty good in and out, my issue has been that its so much material and detail that I have not been able to hold everything at once. By the time I'm in F8 those little details about F2 through F5 are hard to remember, I remember the big picture, but on exam day I've gotten those annoying detailed ones with a twist or IFRS. I think once you cover each topic once you can understand it, there isn't anything I didn't cover in college, the problem is that it's like trying to lump 4 years of classes into one test.

[Anonymous]

Drudgery.

[Wannafree]

Thank you all for your inputs and thank you @RockLobster for being specific .Appreciated , it will help.

[Anonymous]

It is also imperative that you understand the quirks of the IFRS/GAAP difference such as software amortization and leasing just to name a few. The questions can really get at little details at times to test your fundamental understanding. They don't have ti dig very deep

[Anonymous]

F-2 is all over the place. I remember thinking am I smart enough to take this exam?! lol.

[Wannafree]

@cpa4928 thank you, “F-2 is all over the place” noted.
@CesnaPilot ,thank you , this GAAP and IFRS is in my top to study list.You confirmed it.

[JustAnotherWannabe]

I hated leases, consolidations, derivatives, cash flow statement, and IFRS differences the most I think. Hard to pick, a lot of FAR material really sucked. Of course some of these topics I spent a huge chunk of time on and then of course had maybe 1 or no questions at all about on the exam.

AUD- 98 2/24/16
FAR-
REG-
BEC-

Self Study CPAExcel

[SallyCPA]

Did anyone use NINJA MCQ with Becker for FAR and if so how? There is 10 chapters in Becker and only 4 sections on NINJA MCQ. Additionally, during the review process did you go back through every chapter? This section is so overwhelming!!!!

[Snickets]

For me it was:

-Derivatives
-Stataement of Cash Flows
-Pensions
-Bonds RECEIVABLE not Payaable (j/e's)
-J/E's for different Lease Types
-Government JEs
-Imputed Interest problems

AUD 84
FAR. 78(expired/retake 5/9/16)
BEC 77
REG 76

[Wannafree]

Thanks Snickets ,noted your suggestions.

[Author]

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