Three weeks into FAR and less than a month before my scheduled exam. I sure am pumped to get this one out of the way.
At this point, I am not even halfway through my review material and the information seems to be piling up on top of each other. My final review stage, which if I am lucky will consist of two or three days before the exam, is going to have to be quite extensive in order to remember all these concepts.
In order to get the topics to stick, I have been listening to the NINJA Audio lectures over and over along with hanging sticky notes and flash cards around my desk containing little nuggets of information that I glance at during the day while working at my desk.
During the first weeks of studying the material, I was spending a large amount of time answering the questions by writing the problem out on paper. Spending almost an hour answering only 15 problems. I quickly realized that this is not going to be an option on the exam since time will be crucial.
Instead, I read the problem, then in my head, ask myself what is the call of the question? I then think of how I would lay the numbers out to calculate an answer. If I answer it correct I move on, but if I get it wrong I write it down or mark it to come back to later.
This method lets me know if I actually understand the concept in question. The time limit scares me because I used every single minute for AUD and I know this will be the case with FAR. Definitely no bathroom breaks this time.
I about lost my mind when the staff at Prometric had me scan my finger print over and over until the computer finally accepted it in order to go back in when returning from my break. Such a waste of precious time.
As I did when preparing for AUD, I have been creating my own set of notes as I go through each section. It comes to no surprise that my amount of notes is already double compared to AUD and there is still plenty of information to cover.
Call me crazy but I have been enjoying the time spent reviewing for these exams. Yes, it does stink spending the weekends at the library, but I have learned so much already that has really made an impact on the work I do as an accountant on a daily basis.
Even with simple bookkeeping that we do for our clients I have become more aware of how everything flows together in the financial reporting process. I also feel more confident as an auditor.
Passing FAR, or any of the CPA exams for that matter is not an easy task. But I believe that maintaining a positive attitude and reassuring yourself that this time spent studying is truly benefiting you as a person, then there is nothing standing in the way for success.
Good luck to everyone with their studies. Talk to you next week!