cosmo_sippin_cpa
offlineMember
I’m pretty sure I screwed myself. After I found out I failed far last window I didn’t seriously start studying for my retake until yesterday. Now I’m back in full study mode meaning 20 hours a week. My only problem is that my test is in 2 weeks. I can’t push it back because I need to start studying for auditing asap. So basically I’ll probably only get in 40 hours of quality re-study time.
If you retook FAR, how long did you guys re-study? I messed up, I know.
Purple orchid
offlineMember
I failed FAR in the last window and only studied a couple hours here and there due to the holidays. I just started back up today. I rescheduled FAR for Feb 13th and then taking BEC two weeks later. I did the same thing that you did but backwards.
Best of luck to you! I'll be crossing my fingers for you.
BaseballCPA
offlineMember
@Cosmo -- Well first, I commend you for taking personal responsibility...I respect that a lot, and I will give you whatever advice I can to help you pass. FAR is an absolute beast, but the good news is that you're not starting over from scratch. You already have a decent foundation in the topics, which already saves you some time. Now here's where you need to trim the fat. You need to list out the topics (this is not exhaustive, just what I can recall from memory):
F1
-House of GAAP
-Income Statement (incl Comprehensive Income)
-Interim Financial Reporting and Segment Disclosures\
F2
-Matching principle (revenue/expenditures, AJEs, Closing)
-Construction Contracts (comp contract, % of completion)
-Installment Sales
-Foreign Currency? (I think)
F3
-Investments and other securities
-Consolidations/Combinations (Eliminating I/C txns, accting for minority NCIs, etc)
-Equity Method
-Cost Method
F4
-I think Inventory
-Fixed Assets (depr., sale of a fixed asset, etc.)
F5
-Leases
-Bonds
F6
-Pensions
-Accting for Income Taxes (DTAs DTLs)
-Contingencies, I think
F7
-Stmt of CFs
-Don't remember what else
F8
-Governmental
F9
-NFP
Once you make a complete list (not just this piece of garbage), figure out at first glance what your weak areas are. Next, since your time is limited, beat the hell out of those areas that you struggle with. Additionally, since you will probably have some subconscious recognition of the Becker (if you use Becker) MCQs, I HIGHLY recommend supplementing with an additional test bank (e.g. Wiley) or at least ninja notes to give you some new perspective. Just make sure when you're doing MCQs that you're reviewing the answers to understand why you got it right (if you guessed) or wrong. Let us know how it goes...good luck!!
jomarie
offlineMember
@Cosmo - I'm kind of in the same boat as you. I just finished watching Roger's Cram lectures right before New Year's and now I'm going over MCQs and Jeff's NINJA notes. I am too taking FAR on Jan 17th. I missed it last window with a 73.
cosmo_sippin_cpa
offlineMember
Thanks everyone! It's nice knowing I'm not in this boat alone. I really appreciate it.
@baseball, I officially think I love you...great advice. I'm going to do as advised. And yes, I definitely take personal responsibility. I won't say that Roger is garbage until AFTER I fail a second time. Hahaha! Just kidding, Roger is my dude. Pass or fail.
@jomarie, you don't know it but I've been on your silent cheering squad for some time. :) I'm using Roger as well but I took the regular course and didn't get the cram. I debated it and probably should have just to have some sort of structure. I only re-watched 1 lecture so far (Cashflows) and I think I'll rewatch the other lectures that I despise (Pensions & Deferred Taxes).
Other than that, I'm going to take baseball's advice and try this again. oy.
yogi wanna be cpa
offlineMember
i am re-attempting cpa exam after 10 yrs. had passed far and reg and then couldnt go further.
just took FAR 11/29/11 and scored 65. i completed only 1 simulation b4 time ran out. took the entire dec off. :(
it seems way to overwhelming to re-start FAR again. just dont know where to start. glad i ran into this thread!!!
havent schedualed the exam yet. how much to review 1 month or 2 weeks? I want to complete the entire exam by the end of 2012. how much time is enough for each section?
BaseballCPA
offlineMember
@Cosmo -- Glad I could help, but don't shy away from seeking advice from other people on here as well...my methods are by no means necessarily the best, it's just what I would do in your situation. There are some crafty veterans on here (*cough* minimorty *cough*) who know their stuff as well and may be able to provide valuable insight for you. Also, I wanted to mention one more thing to you...when you're figuring out what your weak areas are (if it's all of them, it's all of them, just BE HONEST with yourself. Sidenote: it's obviously not all of them, you only failed by one point, I'm just sayin') you have to then figure out how much time you have to study and what your circumstances are (e.g. do you have a FT job, kids, etc). After you do that, you have to commit to a daily study goal (but be realistic, don't say 6 hours a day, esp if you have a FT job, you'll never stick with it) and be efficient, efficient, efficient. Recently, someone on here posted about something called the "pomodoro" method...I highly suggest you look into it, I think it could be a helpful tool to keep you focused during crunch time. Kick FAR's @ss!! haha
@yogi -- what are your life circumstances? I mean, are you married? Do you have children? What kind of job do you have and how many hours a week do you work? Also, how efficiently do you study? Let me know, maybe I can throw a few suggestions your way. I think finishing all 4 by the end of the year is a good, attainable goal.
Purple orchid
offlineMember
@Cosmo, I ended up having to schedule my exam for BEC two weeks after b/c I already paid and it's going to expire. I have not studied nor looked at the book yet. :/ Didn't plan it too well. I'm going to take it as a $200 practice exam.
@Baseball, I am taking your advise. Absolutely love it! Thank you!!!!!
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