Struggling with FAR framework

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  • #190644
    jgmart04
    Participant

    I am currently studying for FAR to take on Feb 9th. I am using CPAEXCEL and find that i am struggling with the framework section. I haven’t even made it out of that portion yet which frightens me. I watch the lectures, sometimes twice, then read the book, take notes, and then do the question. But I am doing terrible on the questions. Can’t seem to grasp the operation, investing, financing cash flows among other items. Does anyone have any suggestions for this section? I also use the CPAexcel flashcards provided. Any help is greatly appreciated. Thanks!

Viewing 10 replies - 1 through 10 (of 10 total)
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  • #636140
    Mamabear
    Member

    My suggestion is to read through everything and take notes then start quizzing section by section. Some of the prior sections make more sense the further into the material that you get. If you try to master each section as you go along then you may run out of time. i don't know how CPAExcel works so if what I'm saying goes against their methods then you may want to wait for other opinions.

    CPA Exam - Finally DONE (November 2014)
    BEC (08/10/13) 80
    AUD (08/24/13) 65 (11/13/13) 85
    FAR (04/12/14) 81
    REG (07/19/14) 69 (11/29/14) 87!!

    #636142
    Anonymous
    Inactive

    Thanks for your comments on this Mama. For what its worth, I am using Gleim + NINJA and I also quickly learned I have to move on in units regardless of my mastery. I do follow the Gleim suggestion before I move on, but I just let the low scoring sections go. Sometimes you are right, it makes more sense later or with additional quizzing.

    #636143
    confusedcandidate
    Participant

    I'm having a terrible time with the framework questions too because they seem to be so arbitrary and random. Bonds, leases, pensions etc are all formulas and processes but much of the framework stuff is just trivia. If you figure it out lmk…until then I'm just reading as much as I can, taking notes, and pounding MCQs until my eyes bleed.

    Weekends are meaningless to a CPA candidate

    #636144
    jgmart04
    Participant

    thanks for the info… so move on even with the low score, then come back to the weak sections? I also plan to get the audio. I just seemed to grasp REG info much quicker.

    @confused… did you start to move quicker once you got through the framework? Idk what it is but this framework stuff is killing me.

    #636145
    Anonymous
    Inactive

    I personally move on even with a weak score. I did REG before FAR as well.

    #636146
    jgmart04
    Participant

    Ok. I'll try that. I've been trying to absorb SCF for two days now and I still can't get it. I've googled videos and even looked up SCF for dummies to try to break through it.

    #636147
    Anonymous
    Inactive

    For the Statement of Cash Flows, write down the three sections and then within them, write down the transactions that they are made up of. Then memorize that.

    Don't focus too much on remembering the small details, Just get through the materials with a decent understanding and leave 1 to 2 weeks to review before exam. Then during the review weeks, you reinforce everything you've learned through constant MCQ and re-reading your notes.

    #636148
    CPA soon
    Member

    Exactly what 4 corners said “For the Statement of Cash Flows, write down the three sections and then within them, write down the transactions that they are made up of. Then memorize that”

    You need to do 3 formats, GAAP, IFRS and I believe not for profit, all 3 differ and you need to distinguish the differences

    FAR - 71, 68, 74, (8/31/14) 78 ✔
    REG - 67, 71, 71, (10/18/14) 78 ✔
    BEC - (11/29/14) 86 ✔
    AUD - 73, (4/4/15) 86 ✔

    I can't believe this is over! 2 years and 3 months..

    #636149
    confusedcandidate
    Participant

    jgmart: I plowed through the framework material and just tried to learn the material as best as I could. I found that reading public company 10k reports and such helped a lot and put things in perspective. The technical stuff is a lot easier for me personally because you can learn the process whereas a lot of the more obscure framework stuff (disclosures, reporting requirements, sec rules, etc) are just so random.

    Weekends are meaningless to a CPA candidate

    #636150
    jinjuujii
    Participant

    Hi.. I'm also learning FAR at the moment and this is what I did to grasp the concepts. I printed fasb statements, all of them and I read those. Somehow after reading them, I understand so much more! I guess I needed the reason and the logic behind the concepts and those fasb statements did that for me.

    Maybe you can give that a try

    FAR: 2-27-2015

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