[FAR] Financial is killing me... « CPA Exam Review Forum

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[FAR] Financial is killing me...

43 posts from 18 voices

Started 2 years ago by strider4216
Latest reply from cyn637

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strider4216

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It's almost sunrise now...and I'm taking the test in 5 days...I have so many lectures to get through still...I miss Peter Olinto, Tim Gearty was great in Audit, but I'm starting to hate him now...Financial is driving me crazy, Audit/Reg drove me crazy too, but not like this...I feel like I master chapter three, then by chapter five I've forgotten everything...I have no idea how I'm gonna pass this test...I know I felt this way about Audit and Reg, I know I left Reg feeling like I got a 50 and I ended up passing (wtf miracle), but for some reason I can't even think back to those two tests, this feels like a different beast...I'm REALLY pessimistic about my chances of passing Financial....this is my almost sunrise can not do present value calculations for the life of me rant, sorry if it's incoherent but I lack sleep and time and mental stability...I hope this is all worth it in the end, especially since I'm going into consulting and not public accounting..can't be picky in this economy though...

/rant off

One last attempt at these MCQ's, if fail then sleep.
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Posted 2 years ago #
CPAWannaBe

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Can you reschedule it? It may be worth it so you can get more review time in. It is a massive amount of material. I spent a week just reviewing and I felt like I needed longer because between the first lecture and the last, you don't realize what you can forget so quickly.

REG - 75 (expired, retake July 2011)
FAR - 69, 64, 67 <-Becker, 80 <-Yaeger
AUD - 82 ETHICS - 100
BEC - 72 (retake May 2011)

Posted 2 years ago #
strider4216

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I already rescheduled it once, I just need to get it over with...I think I can study for a year and still not feel confident about FAR...there's just SO much material crammed into one test...what really bothers me though is that I will spend 4 hours trying to master a topic I'm really struggling on, but I would bet that the topic won't even show up on the test.

Posted 2 years ago #
CPAWannaBe

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I know. I have never heard of anyone on here saying, "I was totally prepared for FAR and aced it". So much material, and like you, I would spend hours trying to master a topic. I'd feel good, move on and spend too much time on another topic. I finally told myself that I can't be an expert on everything. There were some topics I just said, "Screw it. I know enough to maybe figure out an easy MCQ. Please don't let me get a simulation on this".

After taking FAR, I feel kinda let down with myself that there were topics I should have known better, but for the most part I think I was prepared as well as I could. The most frustrating thing is getting a simulation NOT covered in my study materials. The time I spent learning the stuff that wasn't even on the exam could have been spent on something worth points. It's like the AICPA knows what we are learning and they find some obscure subject to test us on. Just know you can't prepare for everything they throw at you. Just do the best you can.

I was sure I flunked REG too, but came out okay. Maybe we will be okay now too.

It sounds like you are really putting in the work, so stay on track, but get some rest. If you are fatigued, you won't do as well. I had planned on cramming like crazy the day before but due to something else that came up, I didn't. Fortunately I think it helped clear my mind a bit. Good luck!

REG - 75 (expired, retake July 2011)
FAR - 69, 64, 67 <-Becker, 80 <-Yaeger
AUD - 82 ETHICS - 100
BEC - 72 (retake May 2011)

Posted 2 years ago #
Atlanta CPA

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I agree, you'll never feel prepared for FAR. It's way to much material! If you've put in the time, you'll be fine.

Posted 2 years ago #
cpa_someday

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my feelings exactly

Posted 1 month ago #
mgoloubenko

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I can definitely relate to what you're going through, preparing for this has consumed my life and my "fun time" is spent on this forum still obsessing about the exam. I've hit a new low lol but I'm so close to the end that I just keep working on things

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
CPAski

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I know how you feel. I'm on the same boat. The material is just so overwhelming. Just have to take it one bite at a time. Remember just need the 75! I'm not sure if this would help you, but I have a big 75 written on my white board in my room. That 75 is the first thing I see when I woke up. :) My motivation to continue on haha....

FAR - 4/27/12 - 75 :)
BEC - 7/5/12
AUD - TBD
REG - TBD

"Come on baby! Just need the 75!!!"

Posted 1 month ago #
cyn637

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You are not alone. It's been two whole months since i've gone out or seen my family. My only interaction is through facebook and this forum, but think of what you are accomplishing. Think how great this will mean to you when it's finally over. I've been going to bed every night at 3am. My eye won't stop twitching due to lack of sleep, but if I'm going to do down then I'm not going down without a fight. I know I shouldn't think that way, but this exam is a beast and I am lacking so much confidence right now.I actually broke down and cried today (yes, I'm a sissy), but I had to...then i re-grouped and hit the multiple choice questions again and haven't stopped since. Hang in there!!

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
mgoloubenko

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@ cyn637 hahaha I cry almost every day lately, especially in this last week out of frustration/self-doubt- you are so not alone.

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
cpa_someday

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girls, i ve been crying everyday lately too!

i feel like theres so much material that i dont know.

so as i m studying i basically cry out of helplessness. hope i never have to stare at leases and bonds problems ever again.

Posted 1 month ago #
cyn637

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@mgoloubenko: hahaha! Yep, today I cried because I couldn't solve partnerships. I got all of them right in Becker but then when i worked the wiley questions, I literally got like 5 right. I cried as I ate a snickers...lol! chocolate always makes me feel better :)

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
mgoloubenko

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The funny thing is I know my lease and bonds backwards and forwards, and pretty much all the big calculations. It's really the small stuff I get hung up on i.e. when to recognize a deferred gain in lease salesback, thresholds for stock dividends greater than 25 or less like all those annoying rules.

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
mgoloubenko

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@ cyn637 hahahaha and then I feel even worse for crying because I'm like "stop being such a sissy, it's a test" but yeah I indulge in way more unhealthy food because I don't have time to cook. My fun activities are grocery shopping & the gym lol

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
cpa_someday

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@mgoloubenko, power to you!
i struggle the most with the calculations...which must be why i find audit so much better compared to this.

i feel like i win the lottery when i get a problem without any numbers lol

Posted 1 month ago #
cyn637

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I know exactly what you mean...it's like give me a problem I can solve...not theory...I'm more nervous this time around because i literally felt like the last time I took FAR, it was "my" exam (if that makes sense). like i knew every multiple choice question. All the concepts they tested me on was stuff that I knew very well. If there is an exam that was tailored for me, it was that exam. I scored higher/stronger in all the multiple choice concepts. Then, i hit the simulations, oh man, did I underestimate them. So now i'm trying to study everything all over again and work on my time. People are worried about what is on the exam, but i think for FAR, timing plays a huge factor...at least for me..maybe i'm just a slow test taker.

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
misanthrope87

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I also spend all my fun/free time on this board...

B 87
A 90
R 86
F

Posted 1 month ago #
mgoloubenko

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@ cyn637, that just means you studied very hard and put in the hours so you were comfortable with the material. I am confident that this time when you pace yourself, you'll do great!

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
cyn637

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@ mgoloubenko : Thank you so much :-) I sure do hope so! I wish the same for you as well. Good luck with your studies!

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
jenuno01

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LOL @ crying while studying for FAR. I remember I used to bitch-slap myself and seriously hurt myself in anger while practicing Wiley questions... It is doable girls hang in there

FAR - Done | AUD - Done | BEC - Done | REG - ?

Posted 1 month ago #

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EELCPA

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I sure do feel better after reading this thread! I'm studying for FAR too and I have 3.5 weeks left until the big day. I started out thinking "Okay, this isn't so bad" and now that I'm going back and trying to refresh my memory on earlier topics I'm really starting to panic. The doubt is definitely starting to settle in and it's not a good feeling. I'm not really sure how to handle it other than sucking it up and keep at the MCQs.

Slightly off topic but how are you ladies doing on time management with the MCQs? Do you time yourself, how are you doing? It's taking me forever to get through them because if I don't understand a question or if I'm not completely confident with an answer I'll stop and try to get a better understanding of it by going back through material and making flashcards. I guess I'm really just trying to get a comparison on how others are doing so I can judge my own performance. This is my first exam and so I'm nervous that I may be under-estimating the exam/time management importance.

@strider how many weeks have you been preparing for this? You mentioned already pushing the test back once before so I'm just curious you've been plugging away at it...

@mgoloubenko I know what you mean by feeling like you have no life or "fun time". I kicked my butt studying one day last week (8 hours! ugh) so I could go to a girlfriend's baby shower. Couldn't miss that one, she flew all the way from Germany to have her baby shower back home in Michigan! This weekend is even worse---my birthday is on Saturday and Easter is on Sunday, I'm screwed! These little choices to either study or go have margarita night with the girls will be the biggest factor in my seeing a 75 on score release day or not.

Posted 1 month ago #

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MChro12

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I definitely feel everyone's pain on this one. I take FAR on the 16th. I got a 63 on Becker's final exam 1 yesterday. I'm hoping between this weekend, and a 4 day weekend next week I can bump it up to a 75.

Reg 77 (Aug 11)
Aud 80 (Nov 11)
BEC 79 (Jan 12)
FAR 80 (April 12)

Posted 1 month ago #
ledgermaven

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I think the timing part will be the test maker or breaker for me too - I can do most of the mcqs ok and have read in earlier threads to do a few passes through each testlet. Answser all the easy ones right away, second pass do the next hardest, and third pass do the hardest as much as possible while staying in your time allotment for that section. Otherwise quess and move on to leave adequate time for those impossible sims!

have been eating way too much chocolate than is healthy to get through a studying day...

Posted 1 month ago #
mgoloubenko

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For the research tabs, what are you tips on finding the correct ASC as quickly as possible? Since time is so valuable I could use some tips.

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
dreambigCPA

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@mgolo try to find key words you would think only relates to the topic then search it....start clicking on the first result then use the "search within" and use certain words within the topic. also when you click on a result...look on the left and you can see which sub topic you're looking in to reassure you're in the right direction...you dont want to waste time searching for indv taxation in the corp tax section.(REG ref.)

AUD - 74,89
REG - 74,70,84
BEC - 78
FAR - 75!!!!!!!!!!

"Success is not measured in strenght...but in determination"

Posted 1 month ago #
cyn637

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@EELCPA

My timing is horrible. I'm one of those people who has to write everything out to ensure I don't miss anything. I need to visually see the problem. I can't just solve it in my head. Being that I went through the exam once, I know the simulations are what's going to kill me. So at this point, I'm stuck between quality vs quantity (i.e. do i spend the extra minute trying to solve or just move on to have more time for the simulations). During my last exam, the testlet's kept getting harder (ie. wordier and calculations) so I specifically remember spending over an hour on the last testlet. This is why i am freaking out now. I know if i just had those extra 5 mins i wouldve passed. Still kick myself for that :( So now, I'm just going to watch my time. Depending on how I do the most I want to spend on the MCQs is 2.5 hours.

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
mgoloubenko

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@cyn637, was it that you found the simulations "impossible" like everyone says, or just ran out of time? Did you leave any blank?

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
accrual_world

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The original post is from 2 years ago.. hope you guys know.

Let's do this!
BEC - PASSED!
FAR - WIP
REG - WIP
AUD - WIP

Posted 1 month ago #
mgoloubenko

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Guess not much has changed since then lol FAR is as miserable as ever

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #

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dualmatrix

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@cyn637, I'm getting crushed by the Wiley questions too! I did so well on the Becker questions. It's so disheartening. There are so many questions on Wiley that isn't covered by the lectures/vaguely covered in the book or that's ancillary material. All these little details are killing me.....

FAR - 4/10/12 83
AUD - May 30
BEC
REG

2011 Becker Review / 2012 Wiley test bank / NINJA Notes

Posted 1 month ago #
cyn637

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@ mgoloubenko

I found the simulations doable HAD I had more time. I think when people say its impossible its do, its due to the combination of how in depth the simulations are and how much time you have left. To me, TIMING is everything. You can know everything on that exam, but if you run out of time and you don't get to those simulations...it's very tough. I took my exam back in October and I can still remember vividly each simulation. I knew if I had more time I would've nailed that exam because I knew the concept really well (I was lucky to get simulations on concepts I knew very well). It doesn't help that the weight distribution of the exam is now 60/40. Before I think it was 70/30 so you could kind of half-a$$ the simulations and still be able to pass. Do you use Becker? The simulations are piece of cake in Becker. It's good practice, but no where near equivalent to the exam. Sorry, I don't want to scare you :) But there are just so many factors that I didn't take into consideration when I first took it.

And sadly i didn't hear about not leaving blanks until after i took the exam. I wonder if i wouldve passed had I done that. I left A TON of blanks.

Just don't stress, manage your time, and you will be fine :) If you know your stuff then you will be good. I'm sure of it!!

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
cyn637

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@ dualmatrix

Yes, wiley is tough. Have you done the AICPA released questions? I seriously feel that many people don't pass because of the way they interpret the question. I did the AICPA questions and I had to re-read each question before I figured out what they were asking. Becker's questions are more simplified so you know what you are solving for right away. I decided to use Wiley 2 weeks before my exam. I was so discouraged to get so many wrong. It only reiterated to me that I was going to fail. Tomorrow is the big day. It's Good Friday so I hope that's a good sign :)

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #

1 (EELCPA)
cyn637

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@ dualmatrix

oh and I am not very fond of the calculator either...lol!

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
mgoloubenko

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That's one of the reasons I'm memorizing the journal entries because at least those are some points right there and you probably would have passed if you hadn't left blanks! You'll get them this time :)

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
cyn637

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I know!!!!! :( Don't remind me....waaaa! I keep thinking too...had i just put zeros or put anything in, would I have gotten partial credit...ugh! I swear it haunts me even today. Those journal entries are key. Even when I do the the Becker MCQs, I'll prepare the JE even if they don't ask for it. I need to visually see it. But then I get overwhelmed and start creating my own journal entries...hahah!

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #
ledgermaven

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the journal entry for studying far:

loss of expected social life 100
gain to knowledge 60
discount on knowledge lost 40

journal entry for passing far:

gain on confidence 100
that much closer to cpa 100

Posted 1 month ago #

1 (EELCPA)
dualmatrix

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@cyn637 I haven't done those yet. Where can I find the AICPA released questions?

FAR - 4/10/12 83
AUD - May 30
BEC
REG

2011 Becker Review / 2012 Wiley test bank / NINJA Notes

Posted 1 month ago #
EELCPA

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@ledgermaven: Nice JEs!

@cyn637 Good luck tomorrow! You'll do great--it sounds like you really kicked up your studying this time around! Thanks for the tips, I need any advice I can get....except now I feel like a total slacker lol time to get my butt in gear!

Posted 1 month ago #
hili783

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THE BIGGEST LIE I TELL MYSELF IS,

"I do not need to write that down, I will remember it"

FAR - May 31 in Kuwait
BEC -
REG -
AUD -

Posted 1 month ago #
CPA-Convertible

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For people who are taking FAR...Don't give up while taking the exam. Remember each question counts. It's true many candidates (including me) walked out of the testing center and thought they failed FAR but passed. There was an evil thought in me keep saying "oh well, you can come back next time."...don't listen to it. Treat each question like the one is deciding your pass score, no matter how bad or how many questions you have flagged. Answer all questions as best as you can. There are people here who gave up in the middle of the exam and found out later they only missed by few points!

AUD - Passed - 8-31-11
BEC - Passed - 11-29-11
FAR - Passed - 2-29-12
& REG - Scheduled - 5/31/12

Posted 1 month ago #
latenight

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@cyn637 - "I seriously feel that many people don't pass because of the way they interpret the question"

I TOTALLY agree with this.

It's insane how some random detail in the question will change everything. I'm torn between spending 5 minutes on every question re-reading it...

vs.

just hoping I understood it correctly and moving on!

AUD - [PASS]
BEC - [PASS]
FAR - [PASS]
REG -

Posted 1 month ago #
mgoloubenko

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@CPA-convertible, I can totally see where you are coming from because the information in FAR just cripples my confidence but come test time Monday I'm just going to power through it. Any advice on how to conquer the SIMs? I've done so much to work on managing the MCQ but it sounds like so many people get slaughtered during the SIMS, what can I do to better my chances?

FAR 4/9/12- PASSED
BEC Summer
REG Summer
AUD Fall

USC MAcc- Fight on!

Posted 1 month ago #
cyn637

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@dualmatrix

HI!! sorry I haven't been on and just saw your question. Here is where you can find the AICPA release questions. I hope this is not too late. I know you take your test tomorrow. Best of luck!!!!

https://beckerkb.custhelp.com/app/answers/detail/a_id/363

AUD 81
REG 76
FAR 77
BEC 69, retake 5/31

Posted 1 month ago #

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