[Unreadreceipt]

Well,

That late score release for BEC really left me with a hangover.I received my score a week before i took FAR, and finding out i passed (first exam) distracted me i would say. I got a 62 on my exam, and thats what i expected after taking the exam.

Prep & Background:
I had studied for FAR using Becker & Ninja MQs, but i did not start studying untill 45 days or so before my exam. I took 9 hours for my masters program in Accounting this summer, i justified my attention to that as i told myself it would carry over for far. Outside of the FASB Codification use, not as much. I strived in the financial accounting side of my curricluim in undergrad as well as my Masters, but we did not have it all available to be examined like on FAR. I also just took Governmental Accounting, I had seen all the material.

My exam experience: failure
Where i made my mistake was on time. If you all have taken FAR, you will know that having 50 minutes for Testlet 4 & Testlet 5 is terrible planning. I got way to caught up in the MQs. The worst part is the sims at many things that were very basic, with a little more time i would have gotten those points. I left 3-4 Sims empty or with limited answers. with 5 minutes to go I submitted, I was exhausted.

My Decision: Whats next
Well, I have an idea what to refine, as well as what to manage my time on. Im thinking of limiting myself to 45-60 minutes on the MQs. I have passed my CMA exams and BEC, i am comfortable with test taking strategies, FAR was just a beast i needed to examine on my own, even if i took a loss. I am thinking of retaking it around 10/12. With my test strategy for managing the time, and focusing my studying on the less timely concepts which are present more, I think i can survive.

Potential Dilemna: REG

I take REG 11/03. I need some help on this guy, i have had 5 tax/law classes and i am currently doing tax research in my masters program. I want to pass this, and i think i can, but i will need to focus my efforts for a week or two on FAR (if i retake). I am using my materials from school and Ninja MQ, Most of the material i have also already learned. I just need to remember it all, to get that 75.

Please Help

So, with what i provided, id like some advise. This is the first time i have had to retake an exam, whats the variability like in the exams from previous two time test takers? I do not want to study for both of these and come out empty handed vs passing one of these.

Just a refresher(you should see my emails…..):

1) Advise on my studies/test taking strategy-FAR
2) Advise on taking FAR before REG
3) FAR & REG areas to focus on, Sims?
4) What is the retake experience like

[Anonymous]

I went from a 59 last October to a 77 in May. My advice would be to really understand journal entries, which you probably already know to do. But I had sheets and sheets of journal entries written out and additional cheat sheets of formulas and walkthroughs (i.e. arriving at gross profit in installment sales, how to calculate bond amortization, etc). Any time I had an MCQ that involved in a single calculation, I wrote it all out in journal entry form so I could see how it would hit the financial statements and / or wrote out the formula and walked myself through it to really make sure I got it.

I can't really help with advice on passing REG, since I failed miserably when I took it in August. I was burned out, and I know I need to go back and hit the material hard. From having taken the test already, I would say obviously know the tax stuff. That's a huge chunk of the exam, but DO NOT ignore the business law / ethics portion. You'd be surprised how many of those questions show up, and they should be easy points. Also practice the SIMs in whichever test bank you're using. I'm not sure if any test bank can really prepare you, but it at least forces you to look at a problem in a different way outside of the MCQ format.

For FAR, I believe if you nail down Chapter 1-3 of Becker and the Gov't and Non-profit sections, you'll be more prepared. The earlier chapters are the basis of financial accounting, which are important to know before you dive into bonds, leases, etc. Because there is so much material in FAR, it is better to get a decent understanding of all the topics rather than ignoring something but being really good at something else. FAR is a mile wide and an inch deep, as some have put it.

Have you started studying for REG yet? If not, or if you're only a chapter or so in, I'd say push REG back as late as possible in Q4 (the last day is 12/10) and take FAR earlier on, like October. That way you can get two exams in a quarter and get your scores back on the same day.

The retake experience is not necessarily any different than a first-time experience. In regards to studying, you have to go back and hit everything like you're seeing it the first time. I generally skip the lectures and go right into the notes I've taken before or rewrite my old notes. Then I hit MCQ for days and look at the SIMs and then move to the next chapter.

Hope this helps!

[Unreadreceipt]

Thank you!

I decided to push my REG Test Date back two weeks, I need to take the GMAT and have a score by 12/31, so if i can push that back a little further in terms of taking it, Ill also push REG back.

[Author]

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