“FAR” from a Fun Memorial Day Weekend
So as I sit here in a quiet room mulling over Governmental Fund Accounting, I realized how cruel the CPA Bosses can be making the last day of the testing window occur directly after the unofficial start of the summer!
I have been keeping up with my 2 hours in the morning, 1 hour at lunch and 1 hour after work study approach, but the size and complexity of the FAR material has really overwhelmed me with only 5 days left until test day. I took the remaining 5 days off from work and will study as much as possible in hopes of feeling remotely comfortable with all of the material so that I dont freak out when my first question asks me the installment method.
I will start using Wiley MCQs and take as many pop quizzes and simulated tests as I possibly can. I also recommend going through as many simulations as you can as well. These simulations really test your understanding of a concept. MCQs can prove you have some basic knowledge of an area but complete understanding may prove to be a weak area of yours when going through the simulations.
A professor told me some pretty good advice. When preparing a cash flow statement, DO NOT make sure it balances correctly with the ending cash. This seems like pretty crazy advice, but what the professor was getting at is you may have gotten 95% of the cash flow correct but missed 1 area or incorrectly calculated a few changes.
If you try to go back, you only waste time and you potentially run the risk of changing already corrected cash flow items and will receive even less points than before. So instead, approach the cash flow in a step-by-step process and once youve listed an item, move on from it and dont worry about the ending calculations.
I have already gone through my NINJA Notes twice and feel comfortable with what those have taught me, I think at this point it is most beneficial for me to take as many MCQs as possible and as many simulated tests as possible.
I will also try to enjoy a little bit of this weekend especially taking time to think about the men and woman who have given their lives for our country, without our countrys defense groups we would be nothing and this is a great opportunity to remember that.
Good luck NINJAs. I hope we all can make it through this grueling test!
Talk to you soon,
December Juggling Act: Christmas and FAR Study
Kim is a weekly Another71 Facebook blogger as she documents her journey through the CPA Exam.
Hello to all of you.
Im sure most of you would agree December is quite a challenging month to find time to study. There are far more distractions that come along in the final month of the year and the juggling act between all of the Holiday activities and finding time to study becomes quite challenging.
Ive have this little nagging voice this month that is constantly whispering in my ear telling me that Im not studying as much as I did the prior eleven months of 2011. Im ready to get that little voice out of my ear!
On a bright side, I keep telling myself that when I pass the CPA exam, perhaps I will one day have the luxury of only working during tax season and so that would mean being off the whole month of December and not having to balance some many different tasks.
For me, waiting until January 1st to plunge into studying for FAR has been out of the question though. With everything Ive heard about FAR, I feel like I need every minute of preparation that I can get. With that said, Ive scheduled my test date for February 29th. The Leap Year gives us an extra study day in 2012!
The testing center where Ive taken the other sections of the exam does not have any FAR test slots available for that date, so Ill be traveling to a new site. (Sure will miss seeing the workers Ive gotten to know at the old Prometric site!)
For my 5:00 a.m. study sessions, Ive been re-reading my notes from the FAR videos that I had watched back in September while waiting on a REG score. Im anxious to finish these and then pick up where l left off on the videos. And Im going to do as many Multiple Choice questions as is humanly possible in between now and the test date.
I also used my Christmas bonus to pay for a FAR review course in Houston in January. When my CPA journey is complete, Ill add up the grand total of the money Ive spent. It is definitely a very expensive endeavor but hopefully very worth it in the long run.
In between all of the holiday memories, great food, and hustle and bustle, lets hold each other accountable to keep our CPA aspirations in clear view!
Disappointing AUD Score; Back to FAR Study
Stephanie is a weekly Club 75 Blogger as she documents her journey through the CPA Exam.
On Saturday night I jumped out of bed, remembering that the California Board of Accountancy had possibly uploaded some audit scores that morning. I loaded the site to see at the top my EXPIRED score for REG and nothing for AUD so right away I knew I hadnt passed. I got a 72. Last time I got a 71.
According to my score report I got stronger in two sections, weaker in one (Understanding the Entity- still need to look that up because the new CSOs confuse me) and comparable in the rest. I got comparable in the MCQ and weaker in the SIMS.
Last time my score report was quite different, because I got weaker in MCQs and comparable in SIMS and written. Anyone else totally miss written and hate the new SIMS (ok, ok TBS!!)??
I know what part killed me because I had two SIMS using one skill. Ive tried to study this skill many times but my base of knowledge is so poor it is hard to build on nothing. On one hand Im disappointed, on the other hand Im still shocked and I kind of feel there isnt much I would have done differently.
I dont know if I need a tutor to learn this one skill or what. It will probably come up in FAR also, which Im studying for now, so I better think of something.
Audit is really the bane of my existence because both times I havent passed it, Ive been close and felt pretty good about my studying techniques and habits. Its heartbreaking to feel like I worked hard and did everything right and then not get a passing score. There have been times when I knew I messed up and getting a bad score seems like no big deal.
But its time to dust myself off and regroup. Im actually at Starbucks right now studying for FAR with Roger CPA Review. I decided to keep on with FAR even though Im only on FAR-2, out of 8 chapters, because the thought of studying for AUD makes me sick. Since it will be my 4th (omg!!!) try I dont think that taking a break will hurt me a lot.
Anyway, back to the grind. Literally!
BEC Study: MCQs and More MCQs
Kelsey is a weekly Club 75 Blogger as she documents her journey through the CPA Exam. She has been a member of Another71.com’s Club 75 since June 2011.
The last two weeks have just flown by so quickly that I even forgot to write a post last week. I take BEC next Tuesday afternoon, and while I’m not 100% sure I’m ready for it, I am feeling better about the material.
Can you really be 100% ready for these tests?
I have been answering multiple choice question after multiple choice question until I am either reminded that, yes, I have to eat or I start to fall asleep over my computer. I don’t always get the questions right, but I understand why I got them wrong and the right answer makes a lot of sense.
One of my biggest problems and why I get some of the questions wrong is simply reading the question wrong or not reading the whole question before I try to answer it. I’ve come to this realization at a pretty good time.
With just under a week I am going to start focusing more on the questions and taking my time reading and understanding what the actual question is before even looking at the answers.
Hopefully this will help me as I’ve always been a bit of an anxious tester. If I can just remember to breath and read until I understand, I feel like it won’t be due to those types of errors if I don’t pass.
Another thing I’ve been noticing as I’m going through the multiple choice questions is that I start thinking about what I would write if the question were to come up in the written response section. This might be a bit because I’m dreading this section quite a lot as I am not the best technical writer and have on occasion forgotten how a memo should look when formatted correctly.
Thinking about the different questions is my way of preparing for this section. I think that as long as I have thought about the topic and looked up more information about it if I can’t think about enough information to even fill a paragraph, it will be better than writing practice sections. My first draft of papers was never the same as my final draft anyway and would probably not be the most beneficial way to allocate my study time.
I am going to get back to my multiple choice questions for now and will update again after the test.
Good luck to everyone testing in the next week!