FAR Help

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  • #1788268

    Hello everyone. I kind of need some advice regarding FAR. I took FAR back in December and I was studying for it full time from October to December. I scored a 58 on it by surprise. I felt really good about the multiple choice, but i absolutely bombed the sims. I know I spent a lot more time on the MCQ and that was my problem. I had left at least 2-3 sims half way blank and just absolutely had no idea what to do. I feel as if i know the material pretty well, i just don’t know how to get back into studying. i work full time now so sitting and re-watching the lectures would take me a really long time. Ive been doing pretty decent on the Becker MCQ. I also have a subscription for the Ninja FAR program. Does anyone have a good study guide out there for FAR? I feel like i need to get my journal entries down for FAR as well.

    Any help is greatly appreciated.

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  • #1788426
    Anonymous
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    When you say you did well in MCQ but scored 58 on the test, it unfortunately means you did not have the grasp of the material. I would go back through the Becker book and take notes-be as brief or as specific as you need to be. Then use the Ninja MCQ testbank for review-it's very good at tracking your progress by each subtopic so you can pinpoint your weak areas pretty easily. and do the SIMS in Becker. search the FAR SIMS according to the blueprint thread on here, I would study the SIMS according to the CPA blueprint. It was very helpful on my re-take.

    #1788913
    Anonymous
    Inactive

    I'd actually go as far as to say that you probably knew the material pretty well but you just kinda choked on exam day. That happened to me too. I went into FAR and my brain just blanked. There's a book out there about prepping for the CPA…I'll be damned if I can remember it, if you Google it you'll probably find it. But, it actually said “Those candidates who scored in the 60s and low 70s can consider themselves to have accomplished something. They simply needed to improve their test-taking skills in order to reach 75.” I 100% believe that. Now….having said that, your score wasn't tremendously low but weren't quite in the 60s. These exams – and particularly FAR – have a way of unearthing our weaknesses significantly. If you had 58, it probably means that you had at least one area that you were somewhat weaker in than the average candidate. What that area is, you may not even know yourself because your score report may not identify it accurately.
    Identifying your weaknesses is essential to passing. I know what mine were for FAR – for me it was consolidations/business combinations, deferred taxes, and stockholders equity (EPS, diluted EPS, all that fun stuff that CFO's review before the financials are issued.)

    FAR is tough. Lots to know, lots to memorize. Plenty of people score in the 50s and jump up to 70s or higher by their 2nd or 3rd try. Good luck on your retake!!

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