This topic has 23 replies, 10 voices, and was last updated 14 years, 9 months ago by lucylaw.

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May 20, 2010 at 1:45 pm #157712

Anonymous
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I am planning on taking the last exam by Jan 2011 the first week, that if I pass all three section by then.

Do you know how immediate the changes will take effect?

Any suggestion on the order of taking the exam that has less impact of the change. I will be taking the BEC next week!! and I still have rest of chapter 3,-5 to cover!!

t

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June 7, 2010 at 9:42 pm #229176

jeff
Keymaster

Lucy: Q3 is historically the highest pass rate for a year. I bet there will be people scrambling to get done in 2010 in Q3 and Q4.

The last major change like this was 2004 when the exam went computerized.

Abacus: You will learn IFRS for exam-purposes only. Any real-world application will likely be much more in-depth. I wouldn't let this affect your decision one way or the other.

-Jeff

June 7, 2010 at 10:15 pm #229177

Anonymous
Inactive

Jeff,

Do you honestly think they will test IFRS heavily? Any new info that has has happened recently, i.e. SOX, how much of that is actually tested? The majority of what is tested are the same questions they have had since the 90s. These review companies (becker, yaeger, gleim, wiley, etc.) would need to know what is going to to be tested? The AICPA would need to let these companies implement these questions into their texts? Help me understand this.

I started studying for the CPA exam back in February putting soo much pressure on myself to pass this year. Becker does a real good job of scaring the crap out of you. I failed both FAR and AUD under this pressure I put on myself and did not study effectively the best way I need to study in order to pass. SLOWER. I have decided there is no use in trying to cram all 4 sections the rest of this year. I will hold off on FAR and AUD for next year. I just have a hard time thinking they will totally change the content too terribly much other than the new format of the exam. Thoughts??

June 7, 2010 at 10:19 pm #229178

jeff
Keymaster

I was in the room when the AICPA gave the presentation to the review courses last August.

The term they used was “bilingual” – IFRS and GAAP on the Exam.

June 7, 2010 at 10:28 pm #229179

Anonymous
Inactive

IFRS is not even regularly reviewed in college textbooks yet. I would think, whatever changes are made and incorporated, they cannot deviate too much or add too much to the review courses?

June 7, 2010 at 10:52 pm #229180

jeff
Keymaster

IFRS has been on the horizon for awhile. I've taken a glass on it for some CPE. Most review courses print their books in the summer before the new series is released. I wouldn't underestimate it.

Is it going to be an exam on IFRS? No. Will you have to know it just like you need to know how to consolidate using 141(R) for FAR? Yes.

June 8, 2010 at 1:59 am #229181

Anonymous
Inactive

Thanks Jeff. I love this site by the way….don't get me wrong, I am not going to ever take this exam for granted again. I will definitely study the new material just as hard as the next one. I am just not going to worry about all these new changes anymore because there is nothing I can do about it, and hey I am not going to be the only one taking this exam next year. For me, trying to PASS all four parts in six – ten months is rather unrealistic.

June 8, 2010 at 2:01 am #229182

jeff
Keymaster

You are absolutely right…nothing you can do about it…nor should you be anxious about the changes. Whatever comes, you will overcome it.

With that said, there is some smart strategery between now and 2011in getting FAR and AUD out of the way, that's all.

June 9, 2010 at 5:42 am #229183

lucylaw
Participant

Thanks for all the advice and support, Jeff!

BEC 78 w00t | AUD July | FAR July 9 | REG 85
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