http://www.another71.com/cpa-exam-forum/forum/financial-accounting-reporting Powered by Another71.com en-US Thu, 09 Feb 2012 11:12:36 +0000 http://bbpress.org/?v=1.0.2 q http://www.another71.com/cpa-exam-forum/search.php http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146620 Thu, 09 Feb 2012 04:34:32 +0000 CAL CPA 146620@http://www.another71.com/cpa-exam-forum/ <p>I find working MCQ useful in a way that if I get a question wrong, I go back and try to remember my thought process as what I was thinking in my head to choose a particular answer. For example, one of my weaknesses is that I am over analyzing stuff and if there is a very simple questions with a simple answer, I usually think that it can't be so easy and there must a hidden trick into it. Now I don't over analyze questions and the answers are usually right. MCQ also reinforces your conceptual understanding provided that your revisit the questions and review reasoning for why is this the answer. </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146611 Thu, 09 Feb 2012 02:04:22 +0000 jkey57 146611@http://www.another71.com/cpa-exam-forum/ <p>@JPYoung - Good question? I never questioned the validity of what they were saying, but that was a big rumor when they started cleaning house in 2008. At least 2 professors spoke about taking in 2009, when they got hired, and how they were planning on taking it again soon. I guess they could be lying, I just don't know what good that would do? </p> http://www.another71.com/cpa-exam-forum/topic/far-cpa-exam-review-2011/page/39#post-146610 Thu, 09 Feb 2012 01:56:57 +0000 katiekanton 146610@http://www.another71.com/cpa-exam-forum/ <p>I don't know what kind of motivational boost I can give, but I did take it this week. Frankly, it was awful. Overall, it seemed easier to me than AUD was. I found the research answer within 15 seconds, true story. It was so easy I spent another 3 minutes making sure. I spent 10 minutes looking for my AUD research question so I couldn't believe it would be so easy.</p> <p>On a scale of 1-10 of difficulty, with 1 being easy and 10 being very difficult, I would rank my sims:<br /> Sim 1: 1<br /> Sim 2: 2<br /> Sim 3: 7<br /> Sim 4: 8<br /> Sim 5: 12<br /> Sim 6: 37 &lt;--hoping it was a pretest</p> <p>I wasn't as ready as I would like to have been, but I don't think any further studying would have helped me with the answers I didn't know. </p> <p>Two pieces of advice for those taking the exam in the next few months: </p> <p>1. Your review material is not going to prepare you well enough for the IFRS stuff. In my opinion, our review materials are behind this curve. I don't think it matters because ALL the review materials are insufficient, so we're probably all missing the same questions, so don't stress over it.</p> <p>2. Budget your time and stick to it. I'm smart, I was more prepared than most, I'm a natural test-taker, and I had to use ALL of my time. You never know what kind of sims you will get and how much time you'll need. It's not necessarily about knowing, but about being able to control the adrenaline freakout going on in your brain so you can access what you know.</p> <p>Of course, I haven't gotten my score yet, so there's no way for me to know anything about how well I did. I could've failed. I'll let you know when I get my score. Also, don't read this post and others talking about what a bad experience people had and get discouraged. Use these type of posts to set your expectations. A huge part of this game is not psyching yourself out or freaking out at the curveballs that you WILL be thrown, and scoring worse than is reflective of your actual knowledge. </p> http://www.another71.com/cpa-exam-forum/topic/just-did-far-ran-out-of-time-on-sims/page/2#post-146609 Thu, 09 Feb 2012 01:32:54 +0000 katiekanton 146609@http://www.another71.com/cpa-exam-forum/ <p>@CPATerminator<br /> LOL. That was pretty good.</p> <p>@chrisbrown<br /> FYI, for about an hour or so after you post, there's an "edit" button at the bottom of your post. If you post, then read the post and decide to change it, you can edit it. This feature disappears after a bit. I'm not sure how long. </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146603 Thu, 09 Feb 2012 00:49:02 +0000 katiekanton 146603@http://www.another71.com/cpa-exam-forum/ <p>@jkey57</p> <p>I meant tricky as in "difficult to deal with" rather than "deceptive and devious". There's no way they could LITERALLY "trick" you with a question. However, they are adept at throwing you answers that look right but aren't, and using language that means the same thing but sounds very different than the review materials used. Under normal circumstances, the answer might seem obvious, but in the hyper-adrenaline-charged environment of the exam, being familiar with how they word things and having practiced lots of their "which of these is NOT" questions is a definite advantage. Having said that, if you're a high-level student, that level of practice with how they like to word questions is not likely to make the difference between a pass or fail. </p> http://www.another71.com/cpa-exam-forum/topic/just-did-far-ran-out-of-time-on-sims/page/2#post-146599 Thu, 09 Feb 2012 00:37:05 +0000 Cpa soon 146599@http://www.another71.com/cpa-exam-forum/ <p>@cyn637<br /> Thanks for your good wishes, no i havent got my scores yet, i will receive my scores on 22 or 23 of this month.<br /> Used only Becker,what about you?<br /> I will surely inform you my scores, kindly give me your E mail id and i really got some support when i read your experience,that there are more people in the same boat but i am sure you will clear next time with good numbers because now we know what was our weakness.<br /> Tc<br /> God Bless You </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146581 Thu, 09 Feb 2012 00:01:45 +0000 jpyoung10 146581@http://www.another71.com/cpa-exam-forum/ <p>Are you sure they have to take the exam every 36 months? When I apply to take or retake a section, I have to sign a document certifying that I have not passed the exam in Illinois or any other jurisdiction. Just seems odd to me that you would be allowed to take the exam after you have already passed. </p> http://www.another71.com/cpa-exam-forum/topic/new-to-becker-need-advice#post-146569 Wed, 08 Feb 2012 23:53:13 +0000 Thekid2576 146569@http://www.another71.com/cpa-exam-forum/ <p>Thank you for the input, let me know how you did when you find out, hope you got through this beast!!! </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146567 Wed, 08 Feb 2012 23:45:22 +0000 jkey57 146567@http://www.another71.com/cpa-exam-forum/ <p>Thanks for the great info, guys! As someone who's just starting this process, it's nice to hear different viewpoints.</p> <p>As for the professors who made these comments, I should note that they all have taken the CPA in the last 3 years. The school I went to "revamped" their entire business school (they got a TON of federal $) and all full-time professors who teach accounting are required to take the CPA every 36 months. For what it's worth.....</p> <p>I agree that it would be impossible to pass FAR if I had to go through a 1200 page Intermediate Accounting textbook and hit every page with detail. That's just not feasible or efficient. I was referring to most of the review material that I've seen, usually around 300 pages or so.</p> <p>As far as "trickery" goes, perhaps you're mistaking it for a lack of knowledge of the finer points being tested. If you have a solid understanding of the concepts and theories being tested, and you understand exactly what the question is asking, how could you be tricked? Trickery implies deception and devious intentions, which couldn't be farther from the truth when it comes to any professional exam, especially one based 60% on MCQ. Each and every MCQ has a definite answer, which is why it can be asked. Just my thoughts on this interesting topic! </p> http://www.another71.com/cpa-exam-forum/topic/far-cpa-exam-review-2011/page/39#post-146553 Wed, 08 Feb 2012 23:23:37 +0000 CPAhopefulTX 146553@http://www.another71.com/cpa-exam-forum/ <p>Has anyone taken this in the last few days? What was your overall feeling. I've heard not to take FAR this window due to all the tax pros getting it out of the way before busy season really kicks in but, I saw a lot of passes for the first half of the window. Any info/motivational boost would be appreciated! </p> http://www.another71.com/cpa-exam-forum/topic/just-did-far-ran-out-of-time-on-sims/page/2#post-146529 Wed, 08 Feb 2012 22:34:02 +0000 CPATerminator 146529@http://www.another71.com/cpa-exam-forum/ <p>chrisbrown...it's *understanded**** </p> http://www.another71.com/cpa-exam-forum/topic/just-did-far-ran-out-of-time-on-sims/page/2#post-146520 Wed, 08 Feb 2012 21:58:11 +0000 chrisbrown3 146520@http://www.another71.com/cpa-exam-forum/ <p>understood* in the second paragraph. Thank God I'm an accountant and not a writer. </p> http://www.another71.com/cpa-exam-forum/topic/just-did-far-ran-out-of-time-on-sims/page/2#post-146518 Wed, 08 Feb 2012 21:54:45 +0000 chrisbrown3 146518@http://www.another71.com/cpa-exam-forum/ <p>My opinion on trying to time tests.</p> <p>I had this conversation with my brother the other day. He is a sophomore pre-med student. I've always been a very fast test taker. I was that guy that finished every test twenty minutes before everybody else. To give you an idea, I finished FAR in under 2 hours, and the research question took me over 20 minutes to find the answer. </p> <p>I have never understand setting a pre-meditated amount of time for each section. Granted, it has never been an issue for me to finish, but what I told my brother is to work as quickly as possible through each test and if you don't have time you don't have time. I think oftentimes, people worry to much about fitting in their time line. I'd say, don't look at the timer. Especially when it comes to MCQ's, if you are prepared, your gut instinct is probably the right answer. If you read the question, read the answers, and have a good gut feeling about one of them. Go with it. Move on. Don't look back. </p> <p>There is no sense in re-reading and re-reading questions. We're talking about 90 total MCQ's in the FAR exam. It's safe to assume that some of those will require some kind of calculation that will take a minute or two but others can be the simple kind such as "Which inventory valuation method will understate COGS in a time of rising prices?" That question shouldn't take more than 15 seconds. </p> <p>Don't over-analyze. Trust your gut. It's usually right. If you trust your gut on the MCQ's and just go for it, you won't run out of time... And I'd bet that your chances of passing would go up too. </p> http://www.another71.com/cpa-exam-forum/topic/just-did-far-ran-out-of-time-on-sims/page/2#post-146507 Wed, 08 Feb 2012 21:06:05 +0000 cyn637 146507@http://www.another71.com/cpa-exam-forum/ <p>@ CPA soon - best of luck to you! I hope you don't ever have to look at that miserable exam again! Have you gotten your scores yet? By the way what software did you use? </p> http://www.another71.com/cpa-exam-forum/topic/need-your-help-taking-far-on-22412#post-146501 Wed, 08 Feb 2012 20:46:43 +0000 chrisbrown3 146501@http://www.another71.com/cpa-exam-forum/ <p>I took my first one on 7/31/11. I got a 71. I put in a total of about 50 hours studying.</p> <p>I took my second one early January. I forget the exact day. I studied a total of 3 hours and got a 77. </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146499 Wed, 08 Feb 2012 20:29:27 +0000 chrisbrown3 146499@http://www.another71.com/cpa-exam-forum/ <p>For FAR, I barely did any multiple choice questions and watched very few of the Lectures (Roger). I used almost exclusively the book and read through it, making sure that I understood the main concepts. For me, I know that I learn by reading text and not audibly so I wasn't going to waste my time watching the lectures because I wouldn't get anything from it. For someone else, the lectures may be the best way to go and still for other the MCQ's may be right.</p> <p>I used a few MCQ's to test whether I understood the concepts that I wasn't entirely positive that I understood and if I did poorly, went back and reviewed it, but for the most part I did minimal MCQ's. </p> <p>It all comes down to how you learn. For me, I try to divide my time 95% reading and studying the book, 5% MCQ's, and 0 percent lecture. I also never practiced a single sim. </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/3#post-146491 Wed, 08 Feb 2012 17:29:32 +0000 RedRage00 146491@http://www.another71.com/cpa-exam-forum/ <p>The test is a pain in the ass, but it's worth it, and it's fair IMO. </p> <p>I studied my ass off for 6 months. I studied every night Mon-Thursdays and taking most Fridays off. And I would study almost all day Saturday/Sunday. I did that for 6 months. I had no friends. I lost friends who didn't understand why I couldnt hang out as much. I had NO LIFE for 6 months. I didn't care. I was determined to pass this exam the first time around...partying with friends and football season will be there after I'm done. That was my mentality on it. Now that I am done I am enjoying my life with friends. It is great to get off work and meet friends for dinner and just chat and hang out. </p> <p>Someone mentioned earning $15,000 more per year. Hell, I'll take that right now considering that I didn't pay anything out of pocket. I was lucky in that my company reimbursed me all 4 testing fees, plus the money I spent on study materials.</p> <p>This exam is so worth it! I feel like I'm getting more respect at work already LOL </p> http://www.another71.com/cpa-exam-forum/topic/wiley-questions-harder-than-cpa-exam#post-146489 Wed, 08 Feb 2012 17:09:42 +0000 apbandj 146489@http://www.another71.com/cpa-exam-forum/ <p>@Mikey - Comparing your Wiley Test Bank scores to your score on the exam is like trying to compare apples and oranges. The exam is going to have a big curve thrown in there while the Test Bank grades your actual percentage. I only kept track of my percentages by module in the Test Bank (not an overall score), and mine ranged from 40%-80% on sets of 20 MCQ's going into the exam. </p> http://www.another71.com/cpa-exam-forum/topic/wiley-questions-harder-than-cpa-exam#post-146488 Wed, 08 Feb 2012 16:58:34 +0000 Mikey89 146488@http://www.another71.com/cpa-exam-forum/ <p>I'm actually worried about this too. I can't seem to get over a 65 over the FAR Wiley Test Bank. </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/3#post-146487 Wed, 08 Feb 2012 16:57:09 +0000 KasiaS 146487@http://www.another71.com/cpa-exam-forum/ <p>@Tootsie, I'm glad you're still in the game. Don't let anything or anyone hold you back. When I started my journey, one of my co-workers asked me what I'm going to do when I fail... not if, WHEN. I didn't let that or the daunting amount of study materials deter me. Whether it is a failing score, crappy home situation, or life in general, it may suck now, but keep in mind there IS an end to this beast and when you conquer it, it'll be glorious! It sure was for me.</p> <p>@Veronica, thank you. I have to give a lot of credit to the review course I used and to the support I found here from people like you. You were one of the kind voices in my desperate post just a week before my AUD exam. Believe it or not it helped to have some kind words when I wanted to give up. That's why I intend to pay it forward even though I'm done.</p> <p>@CPA Terminator, I feel the love! I've missed you as well! I also think you're nuts for wanting paper and pencil. I'll be stalking you on here aroung the 27th to send you good joojoo and to remind you about the mandatory red panties :) </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/3#post-146486 Wed, 08 Feb 2012 16:53:36 +0000 ledgermaven 146486@http://www.another71.com/cpa-exam-forum/ <p>My motivation for taking the exams is partly money, and more opening the door to meaningful work. I am in mid life and not looking to do big 4 accounting work, but to make decent money and have something interesting to do. The CPA degree seems to open those doors... </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146480 Wed, 08 Feb 2012 16:32:17 +0000 mla1169 146480@http://www.another71.com/cpa-exam-forum/ <p>CPAMan there are plenty of successful accountants without CPA or any other designation. However it usually is earned over a long period of time. </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146478 Wed, 08 Feb 2012 16:20:16 +0000 CPAMan 146478@http://www.another71.com/cpa-exam-forum/ <p>@Minimorty- I chose to be an accountant because it's the one thing I'm good at and I actually enjoy working with numbers. But if there were a way I can be a successful accountant without having to take an exam, I'd do it. </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146474 Wed, 08 Feb 2012 15:58:37 +0000 Tebowwwww 146474@http://www.another71.com/cpa-exam-forum/ <p>I think it depends on how best you learn as an individual, and this goes for the whole exam and not just MCQ's. For example I know I'm a visual learner, but I also know that I learn and remember things much better if I write them down by hand instead of just reading. That may not be the case for everyone but it works for me so that's what I do. I'm a big fan of multiple choice questions because when I read the question, the answers, and the explanations after I remember them a lot better the next time. </p> <p>I'm specifically good at remembering what concepts a certain question is asking about after several rounds of MCQs. When I see that I got an answer right I make a link between what the question was asking about and what the correct answer was which reinforces my application of the concepts I've already learned.</p> <p>There's also a difference for most people between theory and application. You can know everything there is to know about accounting or tax or auditing theory but that doesn't necessarily mean you can apply that knowledge in a MCQ on the exam. And as others have said, they aren't testing your accounting knowledge so much as whether or not you can answer enough questions correctly to pass their exam. </p> http://www.another71.com/cpa-exam-forum/topic/conceptual-learning-vs-high-volume-of-questions#post-146471 Wed, 08 Feb 2012 15:33:53 +0000 Minimorty 146471@http://www.another71.com/cpa-exam-forum/ <p>@drg - You should definitely stick around and post more. I like you.</p> <p>I couldn't agree more with @drg. Look, it comes down to this. If you know and understand the material, it doesnt matter how the questions are worded on the exam. I learned the material through a combination of watching the lectures and reading the book. The MCQ only reinforced these concepts and to a greater degree were just used as a review to keep the material fresh. Everyone learns differently, but once you have a reasonable grasp of the concepts, some weird wording or "trickery" is not going to make any difference. </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146467 Wed, 08 Feb 2012 15:27:52 +0000 Minimorty 146467@http://www.another71.com/cpa-exam-forum/ <p>@CPAMan - Nobody said you had to be an accountant. Perhaps that Security Guard job would be an option. You are choosing to take this test, there is no way around that. </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146461 Wed, 08 Feb 2012 15:07:21 +0000 CPAMan 146461@http://www.another71.com/cpa-exam-forum/ <p>@CPATerminator- I disagree with #1. I'm practically forced to take this exam because it's nearly impossible to get a half-decent Accounting job with a livable salary without that CPA certification. If it were really up to me, I wouldn't even consider taking these tests. It's either I take this test and pass or I live with my parents for the rest of my life... </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146456 Wed, 08 Feb 2012 14:58:55 +0000 CPATerminator 146456@http://www.another71.com/cpa-exam-forum/ <p>#1. Tests are not stupid. It's not like anyone is forcing us to take it. At least not in my case.</p> <p>#2. I would prefer the exam to be on paper.lol..I'm serious.. :)</p> <p>Oh Kasia...I've missed u &lt;3 </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146455 Wed, 08 Feb 2012 14:57:24 +0000 Veronica75 146455@http://www.another71.com/cpa-exam-forum/ <p>You're a rockstar Kasia! Those scores! and in less than 5 months! :)</p> <p>You're right, it will all be worth it in the end. I just want the end to be, like now. Like, a year ago! haha </p> http://www.another71.com/cpa-exam-forum/topic/exams-and-tests-are-stupid/page/2#post-146453 Wed, 08 Feb 2012 14:55:04 +0000 Tootsie 146453@http://www.another71.com/cpa-exam-forum/ <p>@KasiaS, well-said. Like your positivism. I really wanted to quit after I saw my score last Friday night. I am still in the game though. I won't give up. </p>