March 26, 2017 at 10:12 pm #1523376
I finally have one section (FAR) left and have a question regarding exam preparation. For the other three exams, I read the Wiley CPAexcel books and reviewed with NINJA MCQ. However, I saw the text for FAR and am unsure if I could read the whole thing.. would substituting with NINJA notes be sufficient? I believe FAR is more volume than depth?
(I can't study with videos/audio)
Thanks!March 28, 2017 at 2:01 am #1524150
NamstutParticipantMarch 28, 2017 at 2:33 am #1524154
FYI…I think FAR in recent years has cut way back on the calculations. The exam I took had only very simple ones – the whole test was very conceptual, and I think the new format of the exam is leaning in that direction as well. I think I overstudied calculations and that's why I did not pass. Had I focused on concepts more, I would most definitely have done better. Which is why I think those who are only on Ninja with no other review materials are passing. Hmmmm, maybe I should try that too for my retake this October?March 28, 2017 at 3:02 am #1524159
C / XParticipant
FAR is pretty much going into financial statements (whatever kind) in-depth (all the accounts).
I got tired of Roger's book for AUD and have switched over to Ninja just because I like the the breakdown/org better and since financial accounting is my strong point, I am doing okay so far. I'm only page chapter 1 and have finished 2 sections so far though.(..had a bit of a break for some stuff cuz it's better to take a break B4 the exam, then in between when I actually start studying seriously)
I do wish that they came with a table of contents (instead I had to create my own) because it took me a while to create my custom calendar with it. But it's about 600+ pages give or take.
I would say Ninja is the 2nd “briefest” but they really help me understand MCQ and is written in “plain English” which I prefer. ..I don't know about the SIMS though, the only one I bothered doing those for are REG and I doubt I'm going to do them for FAR.
My recommendations if strapped for cash:
1. Youtube- FAR videos
2. find which chapters are most important and skip/skim a few chapters or only get a small understanding of those and concentrate on those chapters that are important.
If you want the most bang for your buck Ninja book and MCQ is the way to go. Other stuff is good at reinforcing the concepts (ninja audio, Ninja videos) Then only thing I don't think really helped me is Ninja MCQ audio (you have to pay too much attention to follow) and I'd rather create my own notes then use the Ninja (TBH I don't know if they would make that much sense without the book, since they are probably brief bullet points of stuff that came from the book).March 28, 2017 at 11:44 am #1524372
FAR is long that's for sure!
I did the Becker materials and supplemented with the NINJA notes and audio. The only issue I came across was the formulas and mnemonics were setup different. I ended up getting a little thrown off in one subject area because the approach wasn't the same but it worked out okay.
It was a little easier for me to go through the NINJA book – it was IMHO a better read than the Becker book but like @Christina said the NINJA book lacks a table of contents. A glossary would have been incredibly helpful too.March 29, 2017 at 12:38 am #1524823
@crazyleon, my MCQs were more than 75% calculations! The first testlet wasn't bad but the 2nd and the 3rd were ridiculous!! So I guess it depends on what test you get.March 29, 2017 at 12:44 am #1524829
I don't take my exam until May 31st and I already know I have no chance to pass FAR. I am a chapter and a half in and it's taken me 3.5 weeks and I feel like I don't know anything. I do this stuff on a daily basis and can't seem to get questions right.
I feel like the questions assume so much and I have no idea how to interpret. For example, they will mention the allowance method for AR and never mention if they are looking for income statement or balance sheet. Then, somehow, we are supposed to know they mean the balance sheet? Becker is either terrible, or I am going to BOMB this exam. (my guess is the latter)March 29, 2017 at 1:11 am #1524838
what is everyone's stats on averages on NINJA firs time through? I feel like I don't know anything still relating to this material. I am doing an assessment of 10 MCQ for each section to see my weak areas I need to read book, watch videos etc. Is 50's averaging going through questions first time?March 29, 2017 at 2:16 pm #1525092
I agree with namstut…my calculations were ridiculous during my last attempt.March 29, 2017 at 2:32 pm #1525101
@C.P.A. the third I felt horrible coming in to the last couple weeks of review for the FAR exam I took on 3/7. The weekend before I was discouraged. I came on here and vented a bit and got enough motivation to do some work but I didn't do as much as I should have. I could have easily put in 3 more hours on Saturday/Sunday. I also could have done more on Monday but didn't. I ended up with a 73 and now I'm mad at myself because I know had I studied the Statement of Cash Flows better, I probably would have got a passing score.
Moral of the story, stay positive and keep going even when you're feeling bad…
Becker F3M2 Skills Practice has a good explanation. Allowance method for AR – if it's based on a % of credit sales, it's i/s. If it's based on aging or %AR then it's b/s.March 29, 2017 at 3:01 pm #1525119
SallyCPAParticipantMarch 29, 2017 at 3:12 pm #1525129
You're gonna feel overwhelmed at first but everything is going to come together once you start your review stage. I didnt pass with flying colors but my steps were to watch all the lectures without doing a single MCQ. After I was done with the videos I started with the mcq and the read the chapters. I focused my studies on Inventory, Fixed Assets, Leases, Pensions, Gov, NFP,Stockholders Equity and Cash flows.March 29, 2017 at 7:00 pm #1525263
I concur:the amount of calculations on my last FAR in Q1 was insane across every topic, even GOVT!!! I used Wiley too and I heavily utilized their Wiley notes (spiral bind) during the last week leading to the test. I even made notes within it and bookmarked every important subject. I also got Ninja notes; however, those were not as intense as Wiley's.
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