[jimboace88]

In preparing for FAR, I know there are some things that I will inevitably botch when I come around to the exam. Some fine examples that I hold near and dear to my heart at this point are:

1. Intercompany inventory transactions (Becker, you can’t explain these at all. Awful job.)

2. Nonmonetary exchange (If it was as simple in U.S. GAAP under IFRS, I’d be fine.)

…and I’m sure the list will grow as my review goes on. I’m certainly trying my hardest and I have made vast improvements in almost all of the areas I tackle thus far. It’s not realistic to be an expert on everything, right?

What are some areas you just let go when you passing people were going through FAR? It’s no good to waste time spinning wheels on a topic that I will never get–I’m thinking I’d rather be able to do the majority of things well and if I have a handful of topics that I’m only average at (because, to be clear, it’s not that I can’t do them at all; the advanced questions are just taking me a long time for me to end up with the wrong answer anyway), I’m willing to accept it. On an exam where I’m pressed for time, I can’t take five minutes to calculate consolidated gross profit, get the wrong answer, and then try to finish the exam on time!

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

[kb24]

Look at the CSO. If your weak topics aren't heavily tested, you'll probably be ok as long as you don't have too many weaknesses. If not, though, you'd better work on them some more. If your review text isn't helping you, look to other sources e.g. google search, YouTube, old accounting texts, etc.

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

[Author]

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