New FAR and New Audit Exams

  • Creator
    Topic
  • #1578802
    Anonymous
    Inactive

    Hi,

    I was wondering if people can comment on preparing for the New Exams (especially FAR since that’s the most brutal). Specifically for Becker, but topics in general. F2 in the old Becker for the 2016 exams was apparently the most challenging unit. What are your takes for the new 2017 Becker?

    Also, if you have taken the exam, what would be your biggest tips? Not asking for an area to study, but more like what to practice? Also how much detail does the exam go into for topics on bonds, leases, and consolidations? IS it more like high level overviews of the topic …and not intermediate accounting I and II where everything was down to each minute detail?

    Appreciate the insight you guys!!

Viewing 5 replies - 1 through 5 (of 5 total)
  • Author
    Replies
  • #1578815
    Sweetie1
    Participant

    I am interested in this as well.
    I am sitting for FAR (July 6) as the first part of my exam.

    I think I am more nervous of not knowing what to expect, and if using Becker materials alone is a good enough representation of what I need to know.

    (Based on other comments I have read, it seems like focusing on the NFP & Govt would be wise. ???)
    Any advice is GREATLY appreciated.

    #1578818
    Anonymous
    Inactive

    To me the MCQ's were very similar. The Major difference is the format – meaning 2 MCQ sections vs 3 and the TBS – you need very good time management to do the sims since it is broken into 3 sections. As with MCQs you have to close out a section to get to the next on the SIMS.

    Content is the same –

    #1578827
    Wannafree
    Participant

    Agreed with @canpassAttitude and add to chapter 1 and 2 are more tested than others but all chapters are important.Consolidation is weighted less compared to volume of chapter but sometimes they drop one SIM from consolidation.One or two MCQ is normal.

    #1578829
    Wannafree
    Participant

    Becker's chapter one and two.Some of you have mentioned that chapter 1 and 2 of Becker's are boring or difficult ,please let me know what is the area or what part is problem and I may help by writing some easy to remember type notes.
    I find chap 1-2 interesting hence volunteering.

    #1578832
    dbacpa
    Participant

    I think time management is the biggest change between old and new. The sims being broken up into 3 testlets make it more difficult in my opinion. Under the old exam, you could navigate back and forth between all of the sims and knock out the easiest ones first and then spend more time on the challenging ones. Under the new format, you have to budget time for the last two testlets. It didn't seem like the content changed much, just more emphasis on the sims.

Viewing 5 replies - 1 through 5 (of 5 total)
  • The topic ‘New FAR and New Audit Exams’ is closed to new replies.