Video – FAR Blueprint – Select Financial Statement Accounts

Amir writes in, “I'm in desperate need of some advice on how to study for FAR, and specifically in the ASCPA content area of Select Financial Statement Accounts. I started stronger and comparable in all areas except this and Simulations. I find that time is my biggest hurdle, and that I'm very thorough and tend to read in great detail, and have a tendency to verify and re-read documents, and gain assurance that I am answering the questions correctly. Any advice would be appreciated.”

Alright, so Select Financial Statement Accounts, that's 30 to 40% of your FAR exam. And that's things like, cash, receivables, inventory, investments, PP&E, bonds, so pretty important stuff. And there's a whole section of that in the NINJA Book. I would read the NINJA Book, especially over that topic.

The only way to get stronger in that area: I would read the NINJA Book, “Nail the Concepts” there, and then I would hit that section really hard in the MCQ. It's a pretty simple answer…read the NINJA Book, do the MCQ. But, 30 to 40%, you have to take that section seriously, and the only way to do it is make sure that you're taking good notes. And especially on the MCQ, when you miss things, make sure that you really write them down.

Related Posts

Recovering from a 30 on the CPA Exam | Another71 Podcast #101

In this CPA Exam podcast, we cover what do to if you score super-low on the CPA Exam (like a 30) and how to turn things around quickly & much more including live CPA study questions. Have a question for the podcast? Ask Jeff. 1. Krishma – I am studying for my FAR third attempt. […]

How to Survive Losing Two CPA Exam Credits | Another71 Podcast #100

In this CPA podcast, we cover how to survive the misery of losing credits for two CPA Exam sections, studying for two CPA Exam sections at once & more. Have a question for the podcast? Ask Jeff. 1. Hey Jeff – I’m an international CPA student from Hong Kong. I’m just getting started with the […]

How to Get Accounting Experience for CPA License | Another71 Podcast #99

In this CPA podcast, we cover how to get accounting experience for your CPA license (does it mean leaving your current job?), Mock CPA Exams being a waste of time, MCQ vs SIM Study (50/50?), and much more. Have a question for the podcast? Ask Jeff. 1. I have taken BEC 4 times….. 68, 70, […]

Wearing a Mask during CPA Exam | Prometric ID Policy Change | Another71 Podcast #98

In this CPA podcast, we cover some CPA Exam news (Mask policy/ID change), as well as your CPA study questions. Recorded August 2021 (I forgot to upload) 😀 Have a question for the podcast? Ask Jeff. Grant (NINJA Only) – I am a month out from Studying. I am averaging around a 67 on the […]

Leave a Reply