[Anonymous]

I’m in my first week of studying for FAR and my head is spinning. I’m using Roger’s study materials. I also have NINJA and I will start to supplement the Roger’s material once I’m a little further along. I have passed the other 3 sections using Roger, but I feel completely lost with FAR. I haven’t even gotten to the more difficult topics yet (Leases, Bonds, etc.). I still have about 6 weeks until the exam, but I just feel lost. I was able to grasp some of the early chapters in AUD, REG & BEC, but this FAR material is making my head spin. I’m hoping this is my last exam. I see the light at the end of the tunnel. I’m trying to stay positive, but this material is difficult. I lose my BEC credit if I don’t pass FAR on this attempt. Any advice or words of encouragement? Thanks everyone!

[Mike J]

I'd say about 70% of the material can be solved if you know how to diagram the question with journal entries. Start with the easiest and basically solve for X.

Gov questions often boil down to knowing which type(s) of funds you're working with and letting the name guide you. Also know the basic journal entries.

Nongovernmental NFP often will come down to being able to differentiate among the three (soon to be two) net asset types. You have to show that you're using the assets correctly (per donor specs). That's the focus versus FOR profit.

I mean there's other issues that come up, but I think if you nail down the 3 areas I told you about the rest should come with more practice.

Also don't forget to allow time to review your mistakes.

Good luck.

[Author]

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