[lisl]

Long story short, I’m really losing motivation to study for FAR. It’s my last exam so I thought I would just be anxious/excited to get it done, but I find myself getting very frustrated and giving up when I’m doing MCQs – I am using Becker and am about half way through the material, but I am having a tough time with some of the content (intercompany transactions, bonds, etc.) I almost wish I didn’t save FAR for last, because I’m feeling extremely burnt out. Any words of wisdom/ motivation would be helpful.

[kayla.james]

Do you have your exam scheduled already? I have no advice since I'm walking into my exam in 4 days and I've ugly cried every day for three weeks straight. HOWEVER, you are SOOO close and you can absolutely push through. It's an incredible amount of information, but you're RIGHT THERE. Just go get it. 🙂

[CH89]

Are you getting frustrated and giving up on MCQs because of the current material you are going over now? Given the amount of information in FAR, I wouldn't worry and get all caught up in the weeds on one particular topic. I would suggest try using other resources, such as YouTube, to understand the material, or searching the question on Google. Sometimes having it explained differently helps information click.

Just keep pushing through this material! You've gotten through the other 3, don't let the fire go out for this last one. You got this, and you can do this!

[TNTTN]

Don't give up lisl. Think about how you already got over 3 exams. There's only 1 more to go. That is 25% more to success. I just took my last exam, which was AUD, on 8/15. I did feel unmotivated too. Whenever I feel that way, I had to speak in my head that I've come so far, now it's not the time to give up or I'll be a loser. I was so frustrated I did cry (for the first time taking the exam ever) the day before the exam. Just keep studying, you'll be surprised that you'd finish the material in no time.

[Road2CPA]

@lisl I am feeling the same way. FAR is my last exam, and I'm getting hung up on intercompany transactions. I came to the forum and searched “intercompany transactions” to see if anyone had tips. I stumbled across your post in the search results, and thought, “wow, I'm in the same boat!” At this point, I'm going to see what I can find on YouTube to help. If anyone else has any other tips/tricks, please comment below.

[water]

From what I recall, to eliminate intercompany inventory sales from 1 entity 2 another, do the following JE:
1) Debit the sales revenue amount from the original transaction.
2) Find ending inventory left over in the purchasing entity. Multiply EI by the gross profit percentage
(1 – COGS/Sales) from the original transaction. Credit Inventory for this amount
3) Plug COGS

The hardest part of FAR is covering all the topics. I would advise going thru the first time taking notes, focusing on main concepts but not writing down every detail. Do 10-20 multiple choice after each chapter to solidify the concepts. Once you get through the whole course, then go back using your notes and try to fully understand everything, doing many MCQs. It will go quicker the second time and start to make more sense. Because chances are, you will have forgotten a lot of material after the first time.

[Road2CPA]

@Water for some reason I understand the logic as you've outlined (or at least understand it when I read the text and watch the videos), but for some reason when it comes to answering some of the questions, I'm completely blown. I think I will just need to continue to practice the questions and review my notes until things “click”. I was hung on on those few chapters for a few days, but realized I needed to move on and then come back to them as you mentioned.

[Tncincy]

Keep going, sometimes it’s just too easy to get lazy and fall behind, or anxious and try to cover it all in one or two days. A good plan, a few chapters a day, and it’s test time. Good luck.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Fat Bastard, CPA]

Think of all the pizzas you can buy with a cpa licenses. And glorious amounts of hots dogs!!

[KarenLAcct]

I wrote down my motivations for passing and taped it to the wall where I sit and study so I had to look at it a lot. I would definitely wake up and not want to study or I would get in a funk for a few days. Sometimes I would find a Ted Talk or some motivational video on youtube to help motivate me. It would just reset me a little. But FAR is a beast no matter what – you just can't give up! Hang in there.

[IcantpasstheCPA]

I was never able to hold any motivation for things I do not value.

If you value the CPA, that is your motivation. To many, its a something for a better future/job. Some need it for self validation. Other need it to get their firm up and running. A few, actually love the material.

I was working really hard through the CPA exam when I was in my 2nd year of audit. Passed FAR during yearend, finished studying reg. It was workout, study, work study sleep. Repeat 7 days a week. Then got a job offer for a Sr accountant role that played well in the 6figs. I never showed up for the reg test and let my FAR lapse.

[lisl]

Thanks for all the tips and motivation!

I am about 9 days away from my exam and have taken two Mock exams so far (scored a 62 on Mock 1 and a 70 on Mock 2). I've been going through one chapter a day, re-reading the book, taking notes, and doing MCQ's and i think it's working. Not looking forward to the long wait between taking the exam and getting my score back on Nov 10 – I guess i will just try to get the Ethics exam done during that time.

[Author]

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