[jimboace88]

I took FAR today. Here’s how it went:

My exam was scheduled for 4:00. I got to Prometric at 2:30 because I wanted to make sure I didn’t get lost and figured I would use the time to study. I found the Prometric site easily and went inside so I could review in the air conditioned environment. Within seconds of me sitting down, someone was there asking me for my NTS and getting me all set up. Without much of a choice, I was heading into my exam at 2:40. Was it ideal? No. However, I had just done a 100 question Becker progress test before leaving, so I wasn’t THAT upset.

It turns out the extra study time before the exam wouldn’t have made a difference. I went through my first multiple choice testlet with no problems that I can remember. It seemed like each subsequent testlet got more difficult–they definitely didn’t get easier, although I think “easier” and “harder” is a subjective area that’s kind of hard to judge. For all I know, I could have been on the “easy” ones the whole time.

Anyway, the multiple choice are all a blur to me, really. They have already become a repressed memory. I do know, however, that with 2 hours and 5 minutes to go, I went into the SIMS.

I opened the first sim and just as people on here have warned me, it was not pretty. I thought to myself “what the hell are they asking for?!” It took some fighting through it and taking a moment to reflect before I even realized how I could possibly begin to arrive at the kind of answer they were looking for. Suddenly, it clicked. I motored easily through my first simulation. For the rest of the sims, I honestly couldn’t tell you how I did. I know I got one of my research-based ones for sure, but the other research-based one was a very ambiguously worded question that COULD have been answered with several different sections. Hopefully the one I picked was the right one.

Overall, I think my comment I left in my post-exam survey sums it up best: “Could have been worse!”

Hopefully I won’t have to take FAR a second time through…although I wouldn’t be surprised if I had to.

FAR 07/27/11 - 87
AUD 10/01/11 - 85
BEC 11/15/11 - 87
REG 01/03/12 - 92

[IwannaBaCPA]

I see…that must take a LONG time to get a score back! S must be for “Special” 🙂

BEC: 79 - April 2011
FAR: 78 - May 2011
AUD: 81 - May 2012
REG: 79 - October 2012
Ethics: Passed - March 2013
I am finally DONE!

[SamBam]

Sorry for misleading. I took FAR on 07/24. I had to push the exam from may as I got busy at work

BEC 91 08/22/2010
AUD 96
REG 90
FAR 81 07/24/2011 Done! I can't believe it

[IwannaBaCPA]

no no, don't take it that way…I was just curious. I am impressed by your scores and am sure you nailed it!

BEC: 79 - April 2011
FAR: 78 - May 2011
AUD: 81 - May 2012
REG: 79 - October 2012
Ethics: Passed - March 2013
I am finally DONE!

[MOMCPA2B]

@pbnj I like peanut butter and jelly. My late night snack when I am up late studying and its starting to show.

I cant wait for this to be over.
AUD-7/25/11-77
BEC-11/27/11-Failed(UGH)Back to the drawing board
REG-2/27/12
FAR- Aug 2012

[kerwin]

Hey KB24, how did you really manage to complete all parts in the space of two months? Which review did you use, was it painful, how many hours did yuo spend per day, espeacially for FAR. Also, was there a lot of calculations in FAR, did you finish on time?

[T-rex]

Thanks, Jimbo!

AUD - 95, BEC - 85
REG - 85, Rawrrrrrr FAR - 88
Used Becker for all sections.
CA candidate not residing in CA

[kb24]

@kerwin

I used the Wiley text, Wiley test bank, and Becker text for all the exams. I also used the Ninja notes for REG and BEC. I didn't keep track of exactly how many hours I spent studying for any of the exams, but I spent about 8 hours per day 5 or 6 days a week for about 7 weeks for FAR. While this is a lot of hours, it wasn't all effective studying because I was learning what worked best for me. I then used those methods when preparing for the other exams and spent 10-14 hours/day 7 days a week for 2 weeks for them. I felt really well prepared for FAR and AUD. I didn't feel very secure going into REG and would have greatly benefited from 3-4 more days because there's so much material. I felt pretty good going into BEC but would have liked one or two more days to fully solidify the material. My mother was hospitalized for 3 days right after I began studying so I didn't get nearly as much done on those days as I'd planned. If this hadn't happened, though, I think that I would have been as comfortable going into the exam as I did with FAR and AUD.

This system I came up was this:

–On my initial go through, I read Becker, skimmed Wiley, and did the Wiley text MCQ for each section. While I went through it thoroughly, I didn't worry if there was a topic I didn't fully grasp on this go through. I did these MCQ in “homework” mode i.e. I tried to do them on my own but referred to the text if I didn't know what to do. I read through the answers of the questions I missed and any that I got right but had been unsure about. I then made a few notes on my weak topics and any mistakes I consistently made.

—During my review, I looked over my notes and did extra work to help grasp my weak areas for each section. What this was depended on what the problem area was. For example, I wrote out all the J/E for bonds because I was easily confused on the bond questions. I then did the test bank MCQ for that section in study mode. I also went over the Ninja notes in REG and BEC during this time.

–Finally, I did as many sample exams from the test bank as I had time for.

I don't work or have young children so studying was my full time job. I didn't have access to the Becker videos, but I'm a very visual learner so I don't know how much they would have helped me. When I have a goal, I'm able to hyper-focus so I was able to study effectively for long periods of time with occasional short breaks. I have a MS Accy and did well in school, but I graduated 5 years ago and haven't worked in accounting so my knowledge level wasn't fresh.

I did finish FAR with a few minutes to spare, but I worked hard to manage my time well so I could. As you'd expect if you've done any of the MCQ, FAR is heavy on calculations. They tend to take more time than theory questions, but I found working with the test bank helped me improve my time.

I hope this helps you in your studies.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[kerwin]

KB,

Is there any areas that I should place extra emphasis on for FAR. Also KB I have a small problem with consol let say, if a parent (P) acquired 80% the Sub(S) on Jan 1, 2010 when P Retained Earning (R/E) was $100,000 and S R/E was $60,000. During the 2010, P made profits of $40,000 and S made profits of $10,000, what is the consolidated R/E on dec 31, 2010 using the acquisition method and would it be different If they used the purchase method?

What I am familiar with if the IFRS method in which consolidated R/E would be:

$100,000+$40,000 + (80%*$10,000)= $148,000. Therefore, this includes 100% of P's profits plus 80% of S's post acquisition profits, thus, R/E at acquisition dated would be eliminated.

For the APIC and Common stock, they would also be eliminated.

The problem is, I am not sure as to how GAAp deals with this.

Please give me some input.

[hellofriend]

Hi All! I took FAR today. I have mixed feelings about it. I experienced the same thing Jimbo did, where I thought it could have been a lot worse. I didn't notice each testlet get necessarily harder, so that leaves me kinda worried. But it didn't get easier either. I also noticed that I was asked the same variation of question several times, like 3 questions on the same topic. Did anyone experience this? The sims were pretty random as well.

I know I should just let go for now and find out when I get my score but this is bugging me. I know some people walked out of FAR feeling horrible and that it was the hardest test they ever took, but I don't feel this way. Does that mean I didn't pass? haha

FAR 7/29/11 93 PTL! =)
REG 8/31/11 84 PTL! =)
BEC 10/1/11
AUG 10/11 or 11/11

[kb24]

@kerwin

FAR is a mile wide and an inch deep i.e. there are so many topics that you're unlikely to have more than a few questions on any one of them. My recommendation is to look at the percentages on the CSO and use those as your guide. Keep in mind, though, that 18 MCQ and 1 SIM are test questions that don't count so certain topics may seem to be more heavily tested than you expect.

My understanding is that GAAP and IFRS treat the subsidiary R/E in the same manner when doing consolidation.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[Anonymous]

@hellofriend,

I feel the same way about my exam experience, at least with the MCQ. I felt like my second testlet was of equal caliber as the first testlet. I thought maybe the third testlet was a little bit harder, but it's hard to judge. I got the same question in testlet one and testlet three. Overall, I didn't think the MCQ were all that tough. I struggled pretty terribly with the simulations though. I'm sure I nailed the research and one other one, and the rest was pretty much a guessing game. At least they all had multiple parts which allows for partial credit… Hopefully the fact that we didn't struggle too much with the MCQ just means we were prepared!

Here's to a 75 (in 8 grueling weeks)!

[hellofriend]

Got my FAR score back and got a 93! Thank God! That means we can never know how we're doing during the exam, or if the testlets are getting harder. haha

FAR 7/29/11 93 PTL! =)
REG 8/31/11 84 PTL! =)
BEC 10/1/11
AUG 10/11 or 11/11

[Author]

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