FAR Study Group 2019

This topic contains 258 replies, has 110 voices, and was last updated by Josh Josh 1 day, 3 hours ago.

Viewing 30 posts - 121 through 150 (of 259 total)
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    Posts
  • #2380944

    stan
    Participant

    Does anyone know if the EXCEL functions in the CPA exam works?

    Stand
    #2392659

    nicholasloprinzi25
    Participant

    I'm sitting for FAR in just 5 days and I'm hoping this is the last CPA test I'll ever have to take. I've been feeling more and more confident with the MCQ's, but I'm really worried about the SIMs. I hear this is where a lot of people sitting for FAR struggle and ultimately what makes or breaks their score. Does anyone have any advice for the SIMs? Thanks!

    AUD - 75
    BEC - 79
    FAR - NINJA in Training
    REG - 76
    Pushing through one step at a time!
    #2397825

    T
    Participant

    Hi all, thanks for offering (Jeff) and all of you for participating in this forum.

    I have avoided taking the CPA Exams because I have found the exam prep from several of the major providers to be, basically, terrible – some for the same reasons and others for different reasons. I also had Ninja for a month and hated the weird login and existential setup(no offense), so I dropped it.

    Has anyone here found an exam prep company that actually quizzes on what they cover in their texts? (Becker is the worst at this). And how about one that dares to explain things in a way that doesn’t leave out folks like me, who’ve been out of school for a while?

    PS – if it can be done, I am willing to offer a monetary reward, if wanted, to the first person to offer a helpful reply! Anyone?

    T
    #2397828

    nicholasloprinzi25
    Participant

    Becker is good for learning the material, but their MCQ’s are nothing to brag about. I really enjoy NINJA’s MCQ’s they’re very similar to the exam in my opinion. If it’s the login that’s holding you back from using NINJA (which is the most affordable as well) then that’s a problem you have to deal with

    AUD - 75
    BEC - 79
    FAR - NINJA in Training
    REG - 76
    Pushing through one step at a time!
    #2398059

    gryfi
    Participant

    Can anyone break down point in time vs. over time for revenue recognition? I feel like it'll def be one mcq on the test but I just can't grasp the idea

    #2409735

    Ramana
    Participant

    @gryfi,
    think of POS as point in time and unearned revenue as over a period of time for revenue recognition. You cannot credit all of unearned rent as revenue earned at a single point in time, so you spread it out, i.e., you defer the revenue recognition.

    #2428671

    sar
    Participant

    Hey everyone,

    I've been studying for FAR since March and i finally take the exam on Saturday. I've been reviewing by pretty much just doing the Becker MCQs a bunch of times. No matter how many times i do them i feel like i always get very low scores on the tests.

    I'm pretty confident in the material but for some reason i can't get the MCQs. Does anyone think it is worth it to start doing the Ninja MCQs this week or is it too late? Also ive seen some thing about Becker's MCQs being a lot harder and maybe not as good so is it worth it to keep doing them and trying to get a higher score?

    Also, has anyone taken the test recently and have any recommendations about what is highly tested and i should be focusing on? I read some things about governmental being tested so i've focused on that and feel like i know it really well, but anything else?

    Thanks in advance!!!

    #2428788

    sdollen64
    Participant

    I see a lot of people who pass only using the Becker test bank, or the Wiley test bank or Ninja, or (fill in the blank). If you understand the concepts, then you can answer the question. If you don't, then you're just guessing at the answer. I took FAR on May 4th and didn't pass. I focused only on MCQs and not really understanding a lot of the concepts and things that I haven't seen in 10+ years and/or don't use in my job (cash flows, leases, etc.) and I didn't look at any SIMs. I blew on the simulations. Had 1 research question and the remaining 7 were all fill in the blank – no drop downs whatsoever.

    As far as telling you what to focus on? The tests are rotated out and it's just luck of the draw. And, it really is against the code of conduct to reveal what is on the test when you take it. I'd just say focus on what your weakest areas are for this last week. Make sure you know the JEs and understand them. Maybe think about what areas have had updated standards in the last year or so. If you think about it, the AICPA and FASB probably would want to make sure new CPAs understand any updated standards. Practice some SIMS. I wish I had.

    Good luck on Saturday!

    My teenage son to me "If you don't pass, it isn't like you'll die or anything."  True.  Very true.  Just do your best, it's all you can do.
    #2430663

    sdollen64
    Participant

    Just a quick question for anyone on the statement of Cashflows….regarding ST investments – how do you know if it's an investing activity or if it might be categorized as trading and be an operating activity?

    Thanks in advance!

    My teenage son to me "If you don't pass, it isn't like you'll die or anything."  True.  Very true.  Just do your best, it's all you can do.
    #2431503
    BrightLIght
    BrightLIght
    Participant

    @Sdollen….

    I might not be fully correct as I need to study this more, but I think if there is a related item on the income statement like a gain or loss, would be on the indirect method operating cash flows section, and then the proceeds/expenditures for main cash flow in the investing section…like for trading securities – unrealized and realized gains and losses go on the income statement, so I assume those gains and losses would be in the operating section…

    The way I remember it is by simply remembering “you can Continue Operating regardless if you Trade Realization for Unrealization”…it is just a way for me to remember, that unrealized AND realized gains and losses from Trading securities are included in income from Continuing Operations…

    “The strongest of all warriors are these two — Time and Patience.” ― Leo Tolstoy (War and Peace)
    #2433441

    Maya
    Participant

    Hello,
    I had Far test this Saturday. I was fine in MCQs. When I was On break, I felt I will pass with high score. But Sims were…… really hard. I was shocked because I knew answers but wasn't able to enter my answers in worksheet. I didn't know how to answer. It was my second time to take Far, In my first try, I got 73 ;(. I worked all simulation in Becker and Wiley.

    #2434593

    Han
    Participant

    @sar when it comes to far I believe Becker does a good job. You really should watch lectures if your continuously getting low mc scores. Also I feel what worked for me the 2nd time was continuous practice with mc and sims and the lit question they have.

    AUD - 80
    BEC - NINJA in Training
    FAR - 80
    REG - 78
    • Hanna
    #2434815

    Determined24
    Participant

    @Han I am wondering if after going through the material a months worth of mcq and SIM practice in Becker is enough to pass; I don't want to push my exam back anymore but I am wondering if one month is enough. How long did your practice phase last?

    All or Nothing
    #2434848

    Han
    Participant

    Honestly everyone is different. Do you feel comfortable with all 10 chapters? Have you done a mock test? I did all homework 3 times. And I did majority of sims on each chapters. I did practice for 1 month.

    AUD - 80
    BEC - NINJA in Training
    FAR - 80
    REG - 78
    • Hanna
    #2434914

    nicholasloprinzi25
    Participant

    Failed FAR with a 73 & as I looked at my score report, I was shocked to see I did comparable on the SIMs & weak on the MCQ’s. I thought I did really well on the MCQ’s. Any advice to improve by 2 points on the next one? Plan on taking it in July, thanks!

    AUD - 75
    BEC - 79
    FAR - NINJA in Training
    REG - 76
    Pushing through one step at a time!
    #2441112

    Lauren G
    Participant

    Hi everyone,

    I am in my final review for FAR taking the exam on June 10th. I am wondering if anyone has a good list of formulas that they created to help themselves remember key points and is willing to pass along.

    Thanks!

    Lauren G
    #2443893

    Hooligan
    Participant

    Hi guys, I am using Becker Review books for MCQ, turorial videos. it seems I need Ninja Notes. Has anyone used them along with becker. what is the lates updated version that can be used for this year 2019?

    #2443908

    Hooligan
    Participant

    .

    #2447772

    babybird
    Participant

    I am so disappointed. I took FAR and passed the first time two years ago, but it took me 3 tries to pass REG, the finance killed me, so FAR expired and today I failed for the second time. I know I failed because I didn’t finish two parts of the final SIM. Why the heck would they ask me to research what revenue electric companies can exclude? Who excludes revenue? I wasted too much time trying to find the answer to that craziness and I never found the answer. I did not have enough time to finish. I know the answers, but I am almost 60 years old and it takes me a minute to think. I can’t memorize, I have to know it. I ask dying here thinking about studying for this AGAIN. I want this misery to be over. It is incredibly difficult to work 7 days a week and study for this test. I don’t have an easy job. I really work for a living. I can’t believe I have to study AGAIN. I just wanted to read a book I actually enjoy.I just wanted to go on a date. But… I have no life but this crap. I refuse to give up because my closest friends are CPA’s, although they tell me that they couldn’t pass today’s test. I had an entire SIM on IFRS. What the crap was that about? Thank you for allowing me to vent to someone who understands my pain. My brothers ask, “what is the CPA again?” My daughters ask, “are you still taking that test?” They have no idea how miserable I am. I guess I am like the folks who die climbing Kilimanjaro. I can’t quit.

    Donna
    #2450778

    Hooligan
    Participant

    At least you have tried. If it makes you comfortable, I have bought all FAR materials (Becker) in 2012, scheduled and booked for the exam. Started studying but 2 months later I got laid off from work and lost the motivation after going some miles in studying. I ended up going for Master's 3 years ago, and I am here again going for CPA again, and I feel motivated. Trying and failing is better than not trying 😉

    #2451852

    junsukim95227
    Participant

    Took my Far last week. I'm studying Far still, anticipating that I will receive a failing score. This is my first time with Ninja CPA MCQs. How do I not let it show correct answers as I answer MCQS? I want to be able to see correct once I'm done. ANyone?

    #2452011

    Hooligan
    Participant

    There is no option to do that. you can only ignore them and take another look at the end of the session.

    #2454867
    BrightLIght
    BrightLIght
    Participant

    Can some one please enlighten me on how to determine the difference between AFS and trading debt securities?

    “The strongest of all warriors are these two — Time and Patience.” ― Leo Tolstoy (War and Peace)
    #2461146

    natausa
    Participant

    Hi everyone. Would appreciate some help! I heard that the rule changed regarding cash flow hedge and both effective and ineffective portions go to OCI. Is that true? Thanks!

    #2462487

    BF98
    Participant

    Anyone have any suggestions when it comes to FAR? There's so much material and I'm trying not to be overwhelmed by the whole thing.

    #2462826

    nicholasloprinzi25
    Participant

    Is this your first time taking FAR?

    AUD - 75
    BEC - 79
    FAR - NINJA in Training
    REG - 76
    Pushing through one step at a time!
    #2463648

    BF98
    Participant

    Yes it is

    #2465553

    babybird
    Participant

    If this is your first time, study for six months.It is a lot of material and have to cover and master it all. Don’t skip anything, including IFRS, or inventory methods because everything is covered. Cover all off the material is the best advice aI can give to you.

    Donna
    #2465640

    nicholasloprinzi25
    Participant

    I think 6 months is way, way too long. You’re going to forget the material as it becomes test time. For FAR I used Becker for 1 1/2 months going through the lectures & following their plan. Then with about 2-3 weeks to go I did a ton of MCQ’s from NINJA everyday leading up to the test. I failed with a 73 my first time, but I used this system for all the tests & I’ve passed the others. I’m currently using Gleim to prepare for my retake in a month.

    AUD - 75
    BEC - 79
    FAR - NINJA in Training
    REG - 76
    Pushing through one step at a time!
    #2466399

    Kyle
    Participant

    Hello all,

    Quick question. I have passed Audit and REG, and I have until February 9, 2020 to pass FAR and BEC. I am currently beginning Module 3 of 10 of FAR. Do you think its possible to pass both FAR and BEC by February 9? I work full time, so I TRY and get through 1 module per work week and 1 module per weekend. I took a little celebratory week off, but am going to begin studying from around 9/10-6/7 on Saturdays and Sundays, and about 2 hours on the weekend.

    Just looking to see if I have any hope, or if people think I will have to retake audit, which im not too upset about. if it was reg itd be another story lol

    AUD - 83
    BEC - NINJA in Training
    FAR - NINJA in Training
    REG - 75
    Not sure what I'll stress about if I ever pass these last two exams
Viewing 30 posts - 121 through 150 (of 259 total)

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