financeguy
offlineMember
1. How prepared did you feel going into the exam? It is a lot of material, did you feel like an expert on all of it, some of it, avg knowledge of everything, really strong in some areas and weak in others, etc.
2. What was the hardest subect(s) for you?
3. Did you pass or fail?
4. If you failed, what do you think was the key reason?
5. If you failed once and retook and pass, what put you over the edge?
Thanks for the responses!
rahulcpa
offlineMember
I am still waitin on my FAR scores. They will be released by NASBA 2morrow
Sections which I felt difficult were
1) non monetary exchanges
2) consolidations
3) Sale and leaseback
4) bonds
5) Income tax
6) cash flows
7) marketable securities
Basically, I started kind of zero knowledge and took complete three months in total to prepare for FAR and feel fully confident. However, I am still not sure if my performance was good because I guessed on so many questions. Tomorrow I will let you now if I pass or fail right after my result.
PS: of all the topics mentioned above, I got may be a total of 3 questions and the rest of them were from other topics tricky though!
financeguy
offlineMember
I'm just curious...you say you felt very confident and fully prepared, but then you say you guessed on so many questions. What was the disconnect? Was it stuff not really covered in your study guide, or were you not as prepared as you originally thought you were?
rahulcpa
offlineMember
Well. I thought I was fully prepared but a lot of the questions were so tricky that I had to guess on especially from NFP and govt accounting. I mean they were there in becker but not a lot of focus were put on them. Also, the final review helped somewhat. The testlets couldn't harder; infact, they went easier as I moved on. If you were to ask if I am gonna pass, I will say WHO KNOWS :(
DUbulldog2010
offlineMember
1. Preparedness - unfortunately didn't have a great deal of confidence going in to it. It really is an impressive amount of material to combine in to one test. I didn't have as much time as I would've liked to devote to this section, and I believe my approach was incorrect - I tried to master each and every topic covered by Becker...rather, simply mastering the basics/foundation topics is far more beneficial and will arguably make the more specialized/narrow subjects easier as well.
2. Hardest subject for me - employee benefits. Hadn't had much exposure in that area prior to the exam and it certainly has its intricacies.
3. Passed w/ an 81 on first try.
potatogun
offlineMember
I studied for about 2.5 months. This was my first test so I had to get into a good schedule and stay on task. I by no means felt _confident_ (with emphasis). But I felt like I had covered everything in the Becker review to the point where I had a good understanding of everything except for maybe some of the obscure aspects of some subjects. But I felt like I knew about all the topics when reviewing through the book and flash cards.
I passed (just got the score today) with a 92. Which is a big surprise and confidence booster for me. I really had no idea during the test. I was able to complete everything and felt like the multiple choice was alright. I felt confident about the simulation and started them with 1hr 45m left. I really like having more time on the simulation. MC you just decide if you have any knowledge that will make you change your mind. If not, move on! I like taking my time to absorb the simulation scenario and think it through.
I agree that non-monetary transactions are a bit tricky, but if you think about them from how the journal entries are done you will start to understand what is going on more. Consolidations are tough for many, but the Becker mnemonics help a lot. Pensions are tricky too but again, understanding a mnemonic made it pretty easy.
emandtea
offlineMember
I took the test knowing a little of everything but not confident on any of the subjects in particular. I guess each area has its own difficulty but I find journal entries the hardest because it was just calculating something but knowing exactly which account was involved. So this was difficult for me on the sims. But which subject, I would say transactions of exchanges and consolidations. I just received my score this morning (CA) 81, 1st time. I really thought I did not pass during the test because I felt the test did not get harder in difficulty but I finished an hour early. I left feeling very miserable and thinking how I would have to go back thru all the problems and videos again. Congrats potatogun!
financeguy
offlineMember
Congrats to you both! I'm in CA too...what part of CA are you guys in?
emandtea:
You finished FAR w/ an hour to spare? Wow, you have got to be the first person that I have read on here that finished that exam early...most of what I read people can't even finish the 2nd exam.
I also find JE pretty difficult, however I am getting better and they do help me figure things out.
italianCPA
offlineMember
I sent it in in March, they only recognized 5 ACCT credits from my italian degree. I appealed, credits number went up to 16. Meanwhile I took 2 classes here in LA for 10 credits and they confirmed over the phone that they received the official transcript from that school on Monday 6/14.
It's not like they have to go over my file again, they just need to add the 10 credits so the number goes up to 26 and let me select the sections. In your experience with the CBA, how long does it take from them approving your application to having a NTS in your hands (and being able to schedule)?
financeguy
offlineMember
You should be getting it any day now (as long as you do it all online). My last one, submitted app on Mon 3/22 and mailed it out that day. Fri 3/26 app received and approved. Mon 3/29 received pmt coupon and paid immediately. Tues 3/30 received NTS.
My very first time after sending in the application, I didn't have it checked to receive NTS by email...I waited several weeks and never got anything and had to re-request it...they must have lost it along the way. Anyways I changed my option to email. So as long as you do everything electronically you should be hearing back today or tomorrow, if not I would give them a call.
emandtea
offlineMember
I'm in the LA area. I had a problem with the mail as well since I initially preferred snail mail for documents. I received my payment coupon and paid immediately but didn't receive my NTS until 2 months later so now I only have 7 months to schedule all my exams. I called NASBA for a replacement about a month after I paid and was told they'll send me replacements. While waiting for the replacements, the original came about month and a half after paying. And it took about a few more weeks for the replacements to come I think it would be best to have everything sent to you thru email/online.
italianCPA
offlineMember
I put "email" as preferred way to be contacted.
However, I NEVER received anything from the CBA in the email and always received everything in the mail (it was all deficiency notices though and appeal results, still with a deficiency).
Hopefully, I'll receive the approval notice soon in my email, but I thought the NTS is a paper document that you have to bring with you to the exam.... I think you can print it from the email, right?
I'd hate to have it lost in the mail.....
italianCPA
offlineMember
Great to hear that!
I guess I just have to wait now.... I would really love to take FAR before the July 4th weekend, then enjoy the weekend, and then starting with REG.....but it's not completely up to me.....
I always check the CBA website and my spam folder as well....just in case....
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