[shanek327]

Can any one with FAR experience respond with the following in order of importance for preparing.

– Bonds

– Inventory

– Leases

– Pensions

FAR - 75
AUD - 78
BEC - 82
REG - 77

2 Corinthians 5:21

Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

[Determined CPA]

Theres really no way to answer that – everyone has a different exam with different questions. My advice is know it all.

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Zuly]

I have a feeling people are going to tell you that they are all important and you need to understand all of them completely without skimming through anything. I've already taken FAR and failed and if I have to be honest with myself I didn't study bonds, leases and pensions as much as I should have. If you wanted to come up with a study strategy I would focus first from easy to hard so you can feel confident as you're studying.

I'm studying with Roger and he covers the material in this order: inventory (easier of the 4), bonds, leases, pensions. Bonds and leases go hand in hand because they both deal with PV and effective interest method. So if you learn bonds really well then leases won't seem so bad. Pensions is kind of on it's own I think but once you get the formula down and understand what goes into pension expense then it's not as bad.

The trick is to dedicate some quality time to each topic and really understand the ins and outs of each by doing journal entries and doing t-accounts when you're going through the MCQs so you understand how everything works. I made the mistake of just barreling through the MCQs in my first go with FAR and didn't take the time to REALLY understand how these transactions worked. This time around I am not making the same mistake. If I don't understand I take the hour or two until I get it.

If you need additional help, check out this guy…he does a great job of showing t-accounts. He covers a lot of topics that appear on the CPA exam:

https://www.youtube.com/channel/UC-0aTImt5gVOgND70k8MCew/videos

FAR - (11/01/14) 71 (02/07/15) 79
AUD - (04/30/15) 86
BEC - (07/21/15) 73 (10/01/15) 75
REG - (11/30/15) 55 (05/19/16) 74

[Author]

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