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August 27, 2022 at 3:50 pm in reply to: Failing FAR again with scores of 68-69! Feeling defeated ! Please help #3314865
April94ParticipantFAR is tough. I passed on my third try, but it was not any easier than the first two attempts. What turned it around for me was opening the book and taking notes on sticky notes. I would only put key info (definitions, formulas, differences between GAAP vs IFRS, etc) on the sticky notes and then I put them on my wall.
Writing the info down on notes and reviewing those notes nightly made a huge difference. You would be surprised at how much you can remember when you write things down and review them everyday.
I also practiced MCQs everyday, but I practiced SIMs just as much. SIMs are the best way to see if you comprehend the concepts and can fit it all together, like a puzzle.
The only way to pass is to study study study. Take notes, review them daily, practice your MCQs and SIMs daily. I had to give up a lot of my free time to pass this. After work, I took about an hour break to relax, then I studied for the rest of the night. Weekends were for studying. Don't get me wrong, I still enjoyed my evenings/nights on weekends, but studying was like having another full time job (in my opinion).
Best of luck to you! Your scores show you have a few gaps you need to close, but I believe you can pass this. One nugget of knowledge I learned from @monikernc: don't aim for a 75 on these exams. If you're only aiming for that, you're setting yourself up for failure. Even though you need a 75 to pass, aim for 100 because you're more likely to study hard. At least, that's what it did for me! I studied as if I wanted a 100, because that made me really dig into the concepts to ensure I understood everything from A-Z.
April94ParticipantI gave details in my application. I said things like reconciliations, month-end close, budgets…you can keep it brief 🙂
April94ParticipantI don't remember when I got my certificate, but I do remember the rest of the licensing process. I had passed in August 2020 (ethics was done at this point too). I applied for licensure the same day. Even though the whole licensing process is online, I didn't receive my license until Oct 2020. I waited about 3-4 weeks after I applied, but didn't hear back. So I called the IDFPR once per week just to follow up and see what the status of my application was. I think that helped speed things up because I was licensed by the first week of October 2020.
April94ParticipantI used Roger for all the exams and Wiley TB for 2 exams. The TB really helped solidify my understanding of the concepts. If you are short on time, it may be worth looking into a cram course. I know Roger and Becker have them! Cram courses didn't work for me, but everyone is different. Best of luck!
"It takes as much energy to wish as it does to plan." -Eleanor RooseveltLicensed CPA in IL
FAR-72, 55, 82 (Roger + Wiley TB)
AUD-66, 92 (Roger)
REG-71, 81 (Roger + Wiley TB)
BEC-77 (Roger)
Ethics- 93April94ParticipantI think it depends on a couple of factors. Location, your title at your job, company size. I worked at Deloitte (Chicago) in audit for about 6-7 months and my starting salary was $60K. I know other first-years from Deloitte audit who made a little less, because they were in smaller offices. I believe NY and CA have starting salaries similar to the Chicago office (at least, from what I was told).
Next job, I was a staff accountant making $62K. Got my CPA and got a raise of $2K, so now I'm at $64K. After 2 years of working there, I wasn't happy with my job, my pay, co-workers, so I left and got a job as a senior accountant at a much smaller company (200 people). Now I make $80K. If I was a staff, I'm sure they would've paid less. If I didn't have my CPA license, I know they would have offered less.
I'd say focus on applying to more senior roles if you can. They should pay you more. And having the CPA gives you a boost over candidates without one (tho obviously that's not the only thing companies care about). Try using payscale or glassdoor to see what your salary should be. That could help if you're negotiating salary! Best of luck 🙂
April94Participant@CPAHOPE Reading that you passed is the best news I've heard all week. Congratulations and amazing job on not giving up, no matter what people said to you. You inspire me!
September 15, 2021 at 10:56 am in reply to: Failed FAR twice.. How should I study for it? How can I practice time management #3306029April94ParticipantIt sounds like the problem may be with both time management and fully understanding the concepts. You scored about the same on the real exams as the Becker exams. The questions on the mock exam were, at one point, on the real exams. So don't go into the test center thinking “Yeah I failed the mock, but the real exam won't be this bad” because you never know!
If you're scoring below 60, that typically means you need to really study the material again. I don't think 15 days is enough to grasp all of it. FAR is incredibly difficult because there's so much material.
My advice: read through the Becker book and take notes. That is what helped me grasp the concepts. Do cumulative MCQs (i.e. don't do MCQs that focus on 1 chapter at a time, do 30-50 MCQs that cover every chapter)
Practice at least 2-3 SIMS from each chapter, even gov & non-profit. Just because they weren't on the first two exams doesn't mean they won't be on the next one. See how long it takes you to get through MCQs and sims. Which topics are you spending more time on? Focus on nailing those concepts. Becker should also tell you how much time you should spend on each testlet. If it doesn't, I think a Google search will also tell you. Make sure you are watching the clock during the exam. If you're spending more than the recommended amount of time on a question, flag it and come back to it later. If you can't figure it out in another 1-2 minutes, take your best guess and move on. It's not worth wasting 5-10 minutes on 1 MCQ.You need to be prepared for anything the exam will throw at you. SIMS are the best way of putting all the concepts together. You can do this! Rooting for you 🙂
"It takes as much energy to wish as it does to plan." -Eleanor RooseveltLicensed CPA in IL
FAR-72, 55, 82 (Roger + Wiley TB)
AUD-66, 92 (Roger)
REG-71, 81 (Roger + Wiley TB)
BEC-77 (Roger)
Ethics- 93April94ParticipantGood for you for getting FAR out of the way first! It's definitely a beast (took me 3 attempts to pass) but I was SO glad I did it first!
Something interesting I learned: all of the review courses contain pretty much the same material. It's the way that the material is presented to you that is different. When I first started the journey, I tried using Becker, but I quickly learned it was a mistake. I bought Roger and felt like I learned so much more from both his videos and his textbooks. I feel like his textbooks especially made it easier for me to understand topics. Whenever I needed more MCQ/SIM practice, I bought the Wiley test banks, and those were super helpful.
My advise overall is to see which review course works best for you. If you find yourself learning well with Wiley, stick with it! If you need a supplement, NINJA has a pretty sweet subscription deal and it's quite fair price-wise. Best of luck to you on this journey! It won't be easy, but it WILL be worth it, in the end 🙂
"It takes as much energy to wish as it does to plan." -Eleanor RooseveltLicensed CPA in IL
FAR-72, 55, 82 (Roger + Wiley TB)
AUD-66, 92 (Roger)
REG-71, 81 (Roger + Wiley TB)
BEC-77 (Roger)
Ethics- 93April94ParticipantNo worries!! I know how you feel. It was super overwhelming the first time I studied for FAR because there's just so much information and it's all on you to figure out the best way to study!
I watched the Roger lectures and also read through the book and took notes. What helped me was taking notes in a notebook but then also making sticky notes of the big/important topics and sticking them all over my wall (yes, it was a LOT of notes by the end of it!)
There's no right way to study. I feel like everyone eventually figures out what works best for them. I've read some people passing without even watching videos. Some only hammer MCQs/SIMS and don't even open the book (I do not recommend this).
I think it's also important to remember that you don't want to just memorize these concepts. You want to make sure you can understand them AND apply them. Make the most out of your study sessions. As Roger says “If you study, you WILL pass.” This is 100% true! I'm not smart by any means (mostly a B/C student) but I studied my butt off and it paid off. It did suck having to get off work at 5:30-6 PM and go into studying, but looking back, I wouldn't change a thing. It was worth getting those 3 letters!
"It takes as much energy to wish as it does to plan." -Eleanor RooseveltLicensed CPA in IL
FAR-72, 55, 82 (Roger + Wiley TB)
AUD-66, 92 (Roger)
REG-71, 81 (Roger + Wiley TB)
BEC-77 (Roger)
Ethics- 93April94ParticipantI thought that Wiley's TB was harder than Roger's, and it helped me prepare for the exam a lot more. I also used the Wiley TB on my REG retake and passed, so I'm a big fan of Wiley's TB!
"It takes as much energy to wish as it does to plan." -Eleanor RooseveltLicensed CPA in IL
FAR-72, 55, 82 (Roger + Wiley TB)
AUD-66, 92 (Roger)
REG-71, 81 (Roger + Wiley TB)
BEC-77 (Roger)
Ethics- 93April94ParticipantI think adding a test bank will benefit you in FAR. Roger's test bank for FAR is OK, but a LOT of the questions are repeated over and over again. I used Wiley TB on my 3rd attempt and passed. I have heard that Gleim's TB is very challenging, so don't feel discouraged by that!
"It takes as much energy to wish as it does to plan." -Eleanor RooseveltLicensed CPA in IL
FAR-72, 55, 82 (Roger + Wiley TB)
AUD-66, 92 (Roger)
REG-71, 81 (Roger + Wiley TB)
BEC-77 (Roger)
Ethics- 93April94ParticipantI know how frustrating it is to fail, but please don’t give up! Studying one year for one section is way too long. By the time you’re done studying, you will have forgotten a lot of the early chapters. For FAR, I’d say study 3 months max. Read the book, drill MCQs, and practice the sims as a comprehensive review. Also, don’t bank on passing just because you did well on the mock exams…trust me. I did well on the Becker mock exams but still failed AUD with a 66.
The fact that you got a 72 means you just need a good refresh of the material. Study again and take the exam in a few weeks. Because you CAN pass!
April94ParticipantThank you guys for your input! I appreciate it. I feel a lot better now, knowing that both routes are fine.
April94ParticipantYou will see a lot of people on here will only post their passing scores in their signatures or their posts. I didn't realize that for a long time, and I used to think “wow all these guys are passing on their first attempt, except me.” But this isn't true. Most people who take these exams/on this forum don't pass on their 1st attempt!
It's also hard for a lot of people to talk about failing. Who likes talking about the bad times? I felt embarrassed when people around me asked “Did you pass?” and I had to tell them “No I failed”. But it felt almost redeeming when I was able to tell people “I passed!”
Just remember – when you're applying to jobs, nobody cares how many times you failed the exams.
I like to tell people the only real way to fail is if you decide to give up studying altogether and quit the journey.
April94ParticipantI understand how frustrating it is, especially considering you were so close to 75 on all your attempts. I got a 66 on AUD, and gave up for almost a year. When I started studying again, I decided to take FAR. Failed with a 72. Tried again. Failed with a 55. 3 fails in a row. It was beyond discouraging. Honestly, I thought about quitting again, but I knew in a few months I'd want to try again. So I stuck with it and kept telling myself it WILL be worth it, in the end. Took FAR for the 3rd time and passed. I was so happy, I started crying. I will never forget the feeling of passing my first exam. It made me think “I CAN do this”
The failures sucked, but it also pushed me to keep going, because this test isn't about how smart you are. It's about how disciplined you are. I was a B/C student in college, so I'm no genius. And you don't need to be, to pass these exams. Something that helped me was to actually write down notes on sticky notes, and post them all over my wall. Then, I could look at them for a quick reference. Keep drilling MCQs and SIMS – they are your best friends when studying.
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