[job895]

Hi Guys,

I just took a two month hiatus from studying after busy season and my second consecutive pass (AUD). I’m going to go for REG next around Memorial Day and then FAR over the summer. I heard from a lot of people that REG is almost a completely new way of thinking. Any advice on how I should tackle REG? Topics to focus on? Things to bear in mind? I greatly appreciate it!

[Defo]

I am working through REG now as my last exam. REG is completely different material, but you could really say that about any of the exams. Just stick with the study method that has been working for you and you should do fine.

I think your friends were needlessly scaring you or just overexcited about the areas where tax accounting and financial accounting differ.

[Becca]

I just took REG yesterday, and I can honestly say that not much of what I studied for was on the exam. I like to read people’s posts on here, so I really focused on knowing Property Transactions, Depreciation and Recapture, and understanding AMT and Business Law (among other things). I have never studied so much or so hard in my life. I felt confident in my knowledge until my very first MCQ yesterday; I had never heard of the topic in neither Gleim nor Becker. I had 2 more questions like that. Also, my exam questions made my study questions seem so elementary. I’m not upset about it; I prepared the best I could – especially being a wife, mom, working overtime, and life happening and messing up my study plans. I’m hoping for the best, but preparing for the worst.

What I’m trying to get at is: it’s difficult to say what you should focus on or how you should study. What a LOT of people have said they got questions on, I didn’t get those. I completed all MCQs in Becker, and if I had any spare time at work I would do MCQs in Gleim (I have these programs because they are part of my MAcc courses). Check out AICPA’s website and do the sample test to get an idea for SIMs. Side note: my SIMs on my exam were harder, but I’ve read other people’s comments on here and they had similar or exactly the same SIMs. You can also sign up for Wiley’s 2 week free trial to get more MCQ experience.

Good luck to you!

[Recked]

I'd strongly suggest you start the tax portion by looking at the tax forms.
Read the line descriptions, and look at the instructions. All available for free via .pdf from IRS.gov.
Once you get an overall understanding of the flow of the tax returns, it will help you visualize and understand the tax concepts so much better.

[MIsconnie]

I had the exact same experience as Becca, I WANT to tell you to master the area of tax, but my exam had hardly any tax on it. No depreciation, property transactions and very little individual tax. It was mostly Ethics, BLAW and miscellaneous tax items that either wasn't in my material or was briefly touched upon. I feel a little cheated, but that's the way it goes.

The best advice is to study everything, leave no stone un-turned. I work in tax so I have a good understanding of it as it is and I can tell you it's no cake walk. Recked's advice is good too, understand the anatomy of a tax return and how book and tax differences come about and you will have an advantage.

Best of luck!

[Spider international]

At my first try at REG I just scored 63 after 3 months studying hard using Gleim. Retake planned for May.
I focused only in the videos, do you guys think it's worth it to go through all of lectures? I feel like the lectures are so heavy and overloading. Thanks

[ragepsn29]

BLAW enough said.

AUD - 65, 72, 70, 74, 81
FAR - 66, 71, 76
REG - 69
BEC - 80

[aaronmo]

Anything involving entity formation and basis, dissolving an entity and basis/distributions, the way putting money in and pushing it out works for every entity…including basis. Know the differences, legal and tax COLD. Like kind transactions. Boot. Basic tax law (dependent rules, status, etc.). Know, conceptually, AMT. The different IRAs. The different college credits (they're going away…not sure if tested).

Business law is there, but it's unlikely to be a sim. I got a lot on UCC. The common carrier stuff is typically tested (who owns liability when).

Since all of the exam prep is at least somewhat similar…if you feel unprepared on a question, so does everyone else. About 50% pass. It might be experimental.

[Author]

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