[Bourne]

Hi all,

As the title states, I’m taking FAR on Thursday (my first CPA exam) and was wondering if anyone has any last minute suggestions? I plan on working through MCQ’s, Ninja audio and reading my notes for the next two days, maybe work on a couple sims. All comments and suggestions are appreciated!

[Ana]

for sure try out the aicpa practice exams. hard to give advice for 3 days out, just be calm and take your time with the sims.

[Bourne]

I've taken the 2016 and 2015 practice exams and been reviewing for about two weeks. I'll be sure to look over the practice exams again though, thanks!

[Ana]

are you well versed on govt and nfp? if not make sure you know that area.

[Anonymous]

Just took FAR (my first test too) a few days ago. Try to get through the mcqs as quickly as you can. I finished the first two testlets in a little over an hour and used all the remaining time for the sims. It was nice having almost 3 hours for the sims, I didn't feel rushed and I was able to look through the AL if I was lost on any of the topics.

[Bourne]

I'm okay with gov't and NFP, working on my weak areas. Thanks Drew, an hour for the MCQ's will be a good benchmark

[Wannafree]

@Drew29 , can you share some tips what type of help you can get from AL and could you find what you were looking for ? How much time it took to find and read AL ? I am curious because I have used the AL in AUD and REG but in FAR can't find IFRS or Govt etc as I assume it has only GAAP.I would appreciate if you can share the tips for using AL in FAR.

[Anonymous]

@WannaFree , I would just get comfortable with how to navigate through the AL. I dont want to give any specific topics away that I got on my sims, but I'll give an example of the process that I did. Let's say you get a sim on a specific type of lease (capital, operating, sale-leaseback, etc.) and you cant remember a rule or how to record it. I would usually do a broad search of the entire AL to find the area they talk about leases. Then once I found that, I would use the “search within” function and type in specific words that the sim was asking for. I was able to find what I was looking for in about 5-10 mins. Using the AL isn't something you should rely on, but it is an awesome tool if you know how to use it. It helped me with at least 3 of my sims

[lampy44]

Good luck! I am about 9 days out. For my review I am about half way through ninja notes, re-writing, listening to audio. I try and speak the audio back/before Jeff says something. I think it will help with little points here and there. Trying to get comfortable with sims and just keep redoing them in Becker. I am pushing for about 300 MCQ a day through Ninja. Hoping it will be enough. I would echo what everyone says, Gov and NFP are apparently big sections. Know consolidations too. I havent taken FAR yet but that’s what I keep hearing from friends and on this site. Good luck to us! Let us know how you do. Positive vibes your way 🙂

[lampy44]

Also, I dont know if you’ve been to prometrics testing center yet, but one thing that really threw me for AUD was you dont get a pen and paper. You get a expo marker and laminated piece of paper. It’s a tiny detail but I’ve been working with a dry erase board to replicate the experience. Every little tip helps!

[Sweet<3 soon to be CPA]

In all exams you get the laminated paper and the pens (two at a time and if need more raise hand).
Now since Q2 they have also been offering a calculator rather than using the one on the screen.

I still follow Jeff's strategy of being familiar with MCQ – rather than overload on SIMS bc with SIMS you never know what will get! If know the material you can get through any SIM!
AUD SIMS I felt comfy with – REG SIMS I didn't leave blank but guessed a lot (especially one entire SIM). I strongly feel that the MCQ is what saved me from a pass or fail.

Hoping this strategy helps for FAR. About 1/2 way through with the Roger lectures, haven't touched any MCQ yet- just here and there to understand what asking me even if I haven't reviewed that topic yet

Luck to all!

[lampy44]

@sweet<3soontobeCPA really? I took AUD last quarter and didn’t get offered a calculator. Not that it was much needed. I would LOVE that for FAR!

[Wannafree]

@drew29 , thanks a lot.Let me try to get conversant with AL. You are right can't rely but for some small thing which I couldn't recall even though I knew very well but got confused and whole SIM gone waste.Had someone told me hey this this is A ,I would have solved the whole B2Z but instead I wrote BIG ZERO.I wanted to know some ways to extract info from AL.Really not interested in specific about question but somehow wants to use it.Your example was good lead to start my research.Let me ask I get more confused when it comes to IFRS Vs GAAP. Do you think I can get help related to IFRS too ?

[Wannafree]

@drew29 I am trying my best to get conversant with AL which I was in AUD and REG but somehow not able to make a dent in FAR AL.I want to ask lot on AL and FASB codification ,may be 7-8 questions ,basically how to use the AL.I tried to practice on AICPA site but it is useless goes into error mode.
It would be nice if you can send me mail on how to use AL ,really not interested on specific .Or can you suggest any tutorial or blog on using AL or FASB codification ? It would be great help.In last 3 quarters I am doing stronger or comparable in MCQ ( took more time though ) but due to some small info which I knew the concept (including JE but some small thing which I can't disclose here ) but ultimately couldn't find on AL and I knew what info I needed.I hope you can understand my situation on AL.

[Bourne]

Thanks guys, greatly appreciated! There's just so much info to know it's crazy. I know a lot of the high level things, but to know a lot of the little details of each section is just impossible. Let's hope all of the preparation pays off for all of us

[Author]

Replies