FAR – Exam Experience

CPA Exam Forum FAR FAR Exam Experience FAR – Exam Experience

This topic contains 109 replies, has 64 voices, and was last updated by  DarkLordJonny 4 weeks, 1 day ago.

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  • #169275

    We have a lot of “I took __ today threads” so to consolidate, here is the official thread.

    Please – Not even a hint of exam disclosure per AICPA rules.

    Links to other Exam Experience Threads:

    AUD

    BEC

    REG

    #1263109

    NYaccountingstudent
    Participant
    #1374935
    mtaylo24
    mtaylo24
    Participant

    Bump

    #1374983

    tg7174
    Participant

    Took it on Monday. Already prepping for a retake. Going to 10 point combo this thing on the retake.

    #1375028

    tygolfer
    Participant

    To be honest, I really enjoyed the FAR material. I felt like I was learning a lot when reviewing for the exam. That being said, this was my first exam and I can't describe how demoralized I was after leaving the test center. The MCQ wasn't too bad, Ninja MCQ definitely prepared me well. But, half of the SIMS were like a foreign language. I wish they released how you did on each section just because I am curious as to how well I actually did on the SIMS. I basically left 2 blank.

    #1375074
    Char143
    Char143
    Participant

    I took the FAR exam yesterday… let me start by saying a few days ago I had an anxiety/panic attack about how I didn't know a damn thing and I was mentally drained. I had studied for 1.5 months 7-8 hours a day (I'm lucky to not have to work through this process-God bless the people who have to work and study, I couldn't do it), and I still felt unprepared and I still felt like I didn't know a damn thing when I tested myself. So after a lot of prayer, yoga, and meditation I realized I have to trust myself and if I fail, I fail.. There is nothing I can do at this point. So I prepared myself for the worst, and I dunno.. I didn't think it was that bad. I probably failed because I mean .. why not, but nothing was scary about the MCQ. It was all things that Wiley went over or discussed. The sims were everything I had learned, nothing out of the ordinary. I mean I even had 15 minutes left, which is NUTS for me. I kinda feel good about it, which scares me, but either way it was interesting.. I will say I wish I studied certain topics more because some topics didn't even show up and I wasted an entire day studying them.

    All in all, I hope to God I passed so I can focus on my 3rd attempt at BEC. If I pass FAR on my first attempt and can't pass BEC, I'm a clown.

    #1375157

    mckan514w
    Participant

    ^^^ CharleneR glad to hear it went well for you! GOOD LUCK!

    So I just got out of the test… my brain is completely fried. I just don't know what to think. I definitely felt better about it then the first time I sat where I knew I had pretty much failed…. here I just don't know. The MCQ's were all doable, I don't know but they seemed to get harder / more complex as the testletts went along, and there were no WTF I never studied this before questions on there. Felt like everything I studied I saw at least once… except for a couple of things that surprised me. But then came the SIMS. I had 1.58 left on the clock heading in to them… FOUND the research one! YAY 🙂 two I was very confused as to exactly what they wanted me / how they wanted me to do things. I did one the best I could and then did the other one only to realize I had done the entire thing completely wrong. Started going back to correct it and saw that I only had 24 mins left on the clock with one sim left– clicked on the tab and YUP there was the DRS… okay heres the ting with the DRS= just like the one I had on my AUD… it wasn't hard… BUUUUUUT 1. they take FOREVER to do, 2. without an adequate spreadsheet tool to work with you have just added at least 15 more mins on to what is already going to take you 30 mins to complete and 3. the FREAKING TABS are BS…. seriously they want to simulate real life I get that but you aren't going to be scrolling through tab after tab…. sigh… anyway needless to say I did as much as I could before the clock ran out. literally the exam cut me off so I essentially left 2 Sims partially completed. This doesn't bode well for me and am fully prepared to face this beast a third time in January… SIGH….

    #1375244
    Char143
    Char143
    Participant

    Mckan, I'm gonna pray we all pass it! Truthfully, I have night terrors thinking about redoing this process. I didn't take a single break. And after every testlet I got anxiety thinking what's the next testlet going to look like, will I know any of it.

    I really hope we all passed!

    #1375361
    mtaylo24
    mtaylo24
    Participant

    Just got done, idk what to think, but damn sure think I did better than that ridiculous 52 I got in August. Of course I got every sim that I didn't want, freaked out at first, but took a deep breath and went to work. Nailed the research for sure. Found a few JEs in the AL 🙌. I prepped, in a little under 4 weeks, definitely a gamble, but win or lose, I'm glad I sat, because I'll be ready next time if needed. I know I guessed on a lot of stuff with the McQs tho, but I wouldn't say I had any easy testlets. CPA gods, please help a brother out! Going to get a drink, happy blackout month!

    #1375368

    mckan514w
    Participant

    LOL Mtaylo been checking in all afternoon for your update sounds like you nailed it!!! BTW concerning the SIMS– I was tempted to stand up and sing the hallelujah chorus for one but I refrained however got a good chuckle thinking about my promise to you…. 🙂 that was at least a gift from the CPA gods… now go drink heavily I am 😉

    #1375386

    christinamarie
    Participant

    I took FAR yesterday which was my 2nd time taking it (first time I got a 72) and unfortunately I feel like I did worse! I honestly feel like the FAR exam tests you on about 40% of the topics you need to know, and each FAR exam can be completely different. The first MC was fine, then it got harder, then it got easier. The SIMS were harder than I expected, and a few of them I had never seen. I would recommend to know Journal Entries for everything, and especially understand bonds/equity as those tend to get frequent testing. The entire test was grueling and I used every last second to review and check my work. I am anticipating just re-taking it end of January which will be my last time before the April 2017 exam hits (and I believe you will have to wait 2 months before hearing your score because it is the implementation? That's a crazy amount of time to wait in suspense?). Fingers crossed and GOOD LUCK to everyone out there!!! This is the greatest test of perseverance! Keep at it.

    (I am currently using Wiley CPA Excel and I love it. Very straight forward, informative, and they prepare you very well. Highly recommend it and it is reasonably priced as well).

    AUD – 84
    BEC – 80
    FAR – 72, TBD
    REG – 73, 71, 77

    #1375550

    emichelle2321
    Participant

    I just got done. Don't know what to think! This is my first exam ever. The testlets definitely got harder as I went along, 3rd one being the hardest which I took as a good sign and I got through all the SIMS w/ 45 min to spare, so I just looked up stuff i wasn't sure on in the authoritative literature. I did not think I would have that much time left for the SIMS! I truly have no idea how to feel. I walked out of there feeling better than I thought I would but also..I just don't know! When the hell do we find out our scores? I saw somewhere the 16th but then saw some people say it was the 21?

    It feels so weird being home and NOT having to study right now!!! I cannot wait for a cocktail.

    #1375557
    mtaylo24
    mtaylo24
    Participant

    @emichelle2321 – I hope we all pass! We find out next Friday, enjoy your time off!

    #1375929

    emichelle2321
    Participant

    I've now convinced myself that I didn't pass…realized a bunch of stuff I did wrong on the Sims and just how hard that third testlet was for me…can't tell if it was actually “difficult” or just had areas I wasn't as familiar with. UGH.

    #1376052

    Charlie54
    Participant

    1st and 2nd testlet were ok third testlet was WTF. Gov sims ,troubled debt restructuring (I KNEW IT AND WAS READY) , EPS, DRS ON INVENTRY(WTF did half of it PLZ GOD BE PRETEST), research was easy, investments feel ok about it. I really have no idea how I did. alot of random IFRS MCQ

    #1376099

    Michael
    Participant

    I felt very confident going into the exam. Scored a 70 on my Becker practice exam 2 days before my exam, which usually should indicate that I'm ready.

    Well anyways, I don't feel great about my exam. My first testlet was easy. I only marked 7 questions. 2nd testlet got harder and my 3rd testlet was nearly impossible. I ended up marking 20 questions in testlet 3. Then I got to my sims which weren't easy. I had to do an inventory reconciliation which isn't even covered in Becker so I just completely guessed on it, hoping it was a practice sim. Also probably messed up a sim that was a consolidating journal entry.

    I feel like I failed which sucks, but I thought I failed BEC and I got a 78, so who knows.

    #1376255

    cpasomedaymaybe
    Participant

    Took FAR this morning and I have no idea how I did, usually I have a read, but not this time. Since I aspired to be a CPA goddess and take and pass all four sections in one window then fell short on BEC by 2 points while studying for FAR I think my confidence is shattered. The mcqs seemed almost easy, except the second testlet was heavy on calculation questions which was very time consuming which left me only about an hour and 20 minutes for the sims. I figured I was doing just fine time wise so I did the first two sims, very calculation heavy too, then looked at the clock, only 50 minutes left for the other 5…OMG. I quickly did the research, pretty sure I got that one right then moved on to the ones that I thought I could finish. Long story short I left the new insane DRS one for last and tried my best to fill in lines correctly then madly put zeros in as time ran out….sooooo actually got knocked out and didn't finish…grrrr. Strangely, I'm not even angry about it and I feel like I should be, all my anger was already released on that darn BEC 73 a few weeks ago. Of course I'm second guessing whether I could have spent less time on the mcq's or just worn some depends and not gone to the restroom twice…decisions. In the end what's done is done and now I get a well deserved week off to see if I have to keep on studying FAR or go back to BEC for my Jan retake.

    #1376295
    mtaylo24
    mtaylo24
    Participant

    @cpasomedaymaybe I swear that we are the same person, except I sat for 3 this window not 4. I also missed BEC by 2 and have had a chip on my shoulder ever since. I started restudying today and yeah, I've forgot a lot. Best of luck for next Friday, hoping that we are only left with BEC to smash!

    #1376309

    dpez
    Participant

    Has anyone filled in JE's with 0's and No Entries Required after finishing the rest of the JE? That's how Wiley CPAExcel makes me do sims and I've been so uneasy about whether or not the computer will deduct points for that!

    #1376318
    mtaylo24
    mtaylo24
    Participant

    I made sure to do zeros yesterday. I was contemplating doing the “no entry required” for blank spaces, but only did it if no entry was required. I hope it doesnt bite me 🤔

    #1376342

    dpez
    Participant

    @mtaylo24 same here… hope the rest of your exam wasn't too bad?? I realized that my MCQs stayed difficult, hoping its a good sign!

    #1376570

    Biggie62
    Participant

    I took it yesterday myself.

    Testlet 1 was easy, marked maybe 4 questions. The next 2 testlets had trickier questions but nothing that I didn't see in Ninja MCQs. Except 2 questions in testlet 3 were some off the wall questions.

    Then got to the sims and holy shit. The research I got, I was able to use the AL for another as it had a picture perfect example. I got lucky as the DRS I had was easy. But now for the other one god. I got the inventory reconciliation like someone mentioned and I had no idea wtf to do. I literally just plugged numbers in. The others I had were all JEs. This is my second time taking FAR and the sims were night and day compared to my first time. While the MCQs the first time around were really tough.

    #1376610

    renma
    Participant

    I took it about a week and a half ago! The second testlet was hard but the third was easy, so I'm assuming I didn't do well at all on the second. Of the SIMs, two were topics I just didn't prepare for at all and I was down to the last minute. So I walked out thinking that I'd failed for sure, but ended up with an 81, hahaha.

    But compared to Becker, MCQ and SIMs both felt shorter; not necessarily easier, because some were on topics I just wasn't prepared for, but definitely not as time consuming. I just milked every possible minute they gave me, hahaha. Good luck to everyone!

    #1376619

    fahadg89
    Participant

    Took FAR after learning I failed audit and lost my FAR credit. Studied as much as I could within 13 days to take it on Dec 9. Honestly I was about 80% ready to getting a 75 but I know I failed, messed up on a few MCQs but the sims weren't as brutal, I know I got at least 3 correct completely and the other 3 partial. Hopefully the one that's not graded is the one I really messed up on. At least I don't have to wait 4 weeks for the score. And this time compared to my first time taking FAR really made me think that the first time I passed was by pure luck. Gov and non profit MCQs out the ass. Thank you ninja for the MCQs cause Rogers MCQs is pretty weak. But I guess I should just start reviewing AUD and once the fail is official, I'll prepare for both. 😑

    #1382444

    eaglescpa
    Participant

    I took FAR on the 10th. Here is my experience:

    1st Testlet: relatively straightforward questions, I flagged maybe 2-3 questions
    2nd testlet: I could tell it was getting harder as there were way more wordy questions, couple questions I was not prepared for, flagged like 5
    3rd testlet: couldn't really tell the difference between the 2nd and 3rdflagged probably another 5. there was one question that I probably spent a good 15 minutes trying to figure out. I knew the topic but could not get to any of the answers choices

    SIMS: oh man, the sims. left myself about an hour and half. One of them I knew the topic and how to do it but there was one part of the SIM that had no instructions on what I was supposed to put in that column. No drop down box or anything. Filled in zeros. Research wasn’t bad. I think I got one completely right and the rest I had 70% confidence on except for one of them which I am hoping is pretest.

    praying for a 75 on the 16th!

    #1382445

    garnerr2
    Participant

    I took FAR on the 10th and just realized something from reading these posts.

    I use CPAexcel and when answering the practice SIMs, it makes me either fill in blank spaces with 0's/NA or something similar. On the exam, if I was required to do a J/E and had 5 spaces but only used 3, I would enter No Entry Required for the space below.

    I think I now realize that the No Entry Required was supposed to only be used if there was really no entry required at all.

    I am crossing my fingers that this gets hand graded and I won't lose any points.

    #1382496

    Travis
    Participant

    I took a different approach to this exam than most. It ended up working out pretty well for me, so I wanted to let y'all know how I went about it. I studied for FAR for about 6 weeks, for about 1.5-2 hours a day, taking Saturdays, and some Sundays off. Here's the breakdown of the technique I used:

    – For the first 2 weeks, I just read the book, and tried to grasp a ‘big picture' understanding of the concepts. I wasn't focused much on the tiny details, and I didn't answer a single MCQ.
    – For the next 2 weeks, I went back through the material, this time answering MCQ's in batches of 30, and for each question I missed (over half), I'd write out why I missed it, and try to find it in the book. I only did about 60-90 questions per chapter, and moved on without feeling any sense of having mastered the material.
    – For the final 2 weeks, I printed out outlines for the chapters, went through and highlighted the outline, and added information from the book that the outline either left out, or needed a further explanation of. I cleared off a wall in my apartment, and added ‘sticky note' flash cards to the wall for concepts, equations, and every journal entry I came across that didn't seem intuitive (with a brief explanation of the entry). The outline would only take about an hour per chapter, leaving me about an hour per day to review the notes I had written in weeks 3 & 4, as well as to stare at the ‘Wall of FAR' I had been creating over the past few weeks… I took about 3 days to give the material one more, thorough run through, before taking the exam.

    Lastly, during the 6 weeks of my FAR study, I'd spend about 5-10 minutes, randomly throughout the day, using the mobile flashcard app. I vowed to take some of the time I usually wasted surfing the internet, checking Facebook or Twitter, and to use it to really comprehend a couple of concepts.

    Walking out of the exam, I felt about as I expected to feel, exhausted, but I also felt that I had prepared myself well. I believe this method worked for me because I don't have the greatest memory when it comes to remembering small details and facts. Understanding the concepts as a whole made remembering the smaller details a lot easier. Best of luck everyone!

    #1444844
    Amor
    Amor
    Participant

    Somehow, I heard this somewhere, US is no longer that crazy to converge with IFRS because things were just too complex for this convergence-fiasco. So then, how do we prepare and study now for IFRS and US GAAP comparison/differentiation?

    #1444934

    stilgoin
    Participant

    I studied abroad in London and we met with some of the IASB board. They still want IFRS convergence, but it is not likely because U.S. GAAP is not willing to forego so many of the GAAP rules. We also met with some of the Institute of Chartered Accountants board in London, which is comparable to the AICPA in the U.S. Their accountants have much more leeway in accounting than we do in the U.S. They make professional judgments about everything. We asked them who makes sure the accountants are honest and they laughed at us. The U.S. will never get rid of all our rules, and the Chartered Accountants will never follow our GAAP rules, so they are at an impasse. The few small changes we see every year is the IASB board negotiating something, albeit small, so they still have something working toward convergence. We got the impression that the Chartered Accountants would never change, because they felt they did not need strict rules to follow. It was a little ridiculous to have accountants without rules, but that was just our opinions as accounting students from a U.S. university.

    #1445139

    SiXiam
    Participant

    Took FAR today (for the second time).

    First testlet was medium, second very hard, and third easy, so I assume I did bad on the hard one.
    The very hard section had really long paragraph questions that really ate my time up.
    Topics were pretty varied in scope. One thing of note is it did have the 2017 updates with deferred tax being non-current. Didn't help because A through D were all non-current.
    One annoying thing is even the easy questions were dual topic. You had to know two separate topics to solve them.

    The sims were impossible and I'm convinced I failed it because of them. One research question (which I think I got, but I'm not sure because the topic was so general that it could have been a few of them), three had lots of journal entries (none of these), and the other three were calculate many numbers based on certain circumstances, like revenue for multiple years.

    I'm just drained. These 4hr exams plus all the rest of the time, kills me. Looks like I'll be taking it again in April after they change it.

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