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My FAR Experience

I worked until 1am last night wrapping up the Yaeger CPA Review FAR Disc 9 and wasn't sure what today would bring. Twice within the span of 4 hours I had my payment info loaded onto Prometric's site and a new date selected (November 4) and all I had to do was hit “confirm” and put my exam back a week or so, but I just couldn't do it for some reason. I still had discs 10, 11, 12, and 13 to go as of this morning. Thankfully, work was slow (and my boss is very nice), so I sat at my desk and worked through discs 10-13 throughout the day and into the evening and I am now done with Yaeger‘s FAR program. Was it easy to sit there for 12+ hours (I worked each 4 hour DVD in about 3 hours using the time stretch feature on my

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My FAR Experience

I gave in and decided to push my exam back a week so that I would have a calm week to review and do MCQs. They wanted $95 to reschedule my exam. I decided to wait until Wednesday to decide what to do. If I can plow through the rest of my lectures and have all day Thursday (I'm taking a day off from work) to do MCQs and review, I'm going for it. If I'm not done with my DVDs by late Wednesday, I'm postponing it a week. I'm ready to be done with this thing, but also don't want to rush and be posting again in January about an upcoming FAR exam.

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My FAR Experience

I'm only on Disc 6 out of 13 of Yaeger‘s FAR program. I was out of town last week for work…got minimal studying done because I was…lazy. Yada Yada. I have a only a few days to get through this program. Most would say that I'm too behind to still take the exam on Friday. I'm not most people. Don't underestimate my ability to cram like a madman and have success. See: AUD (35 hours). Stress and anxiety is exactly what I need to study and pass this exam. Why couldn't I just be a normal candidate and do it the right way? Back to Pensions…

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CPA Exam Strategy

There were two people who asked about this in the REG discussion for this month, and I found it worthy of a post. Time management on the CPA Exam is critical for REG and FAR. AUD and BEC? – not as much. REG is probably the worst exam in terms of time management. They only give you 3 hours to cover 72 MCQs and two sims. Ideally, you would have 50 minutes per sim, which only leaves you a little over a minute per MCQ. This is not reality. In all likelihood, you'll spend about 35 minutes per MCQ testlet, 50 on your first sim and about 25 on your second sim. It took me 4x to get through REG and I was consistently left with 15-25 minutes to finish the last sim and I never fully finished it. I got close this last time…I left one tab unanswered. You

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Economics

I keep this blog focused on the CPA Exam and purposely don't delve into topical tangents like politics or other non-Exam related subjects. The CPA Exam however, tests on economics and business in general, as well as the obvious accounting topics that you would expect. I also can't think of a more pressing and relevant topic for accountants to be informed on than the proposed “bailout” as it's called. As accountants and CPA Exam candidates we need to be informed and equipped to discuss the current financial mess with our peers and with those who expect us to have an opinion on the subject – i.e. your relatives and people who catch you in the hall at church. “Hey, you're almost a CPA right? How are we going to fix this mess?” If you listen to the media, there is only one solution – and it should have been put

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Economics

I am a huge Dave Ramsey fan and have been a coordinator for his Financial Peace University class where people learn the novel concept of not spending more than you make. As everyone knows the government is hysterically devising a plan to put us $700 billion (with no cap) into further debt. Dave is a smart guy and someone who I greatly admire and it's no surprise that he is voicing a debt-free plan to get us out of this mess. It's relevant to this blog because well, we all live in this economy and also because it involves mark to market accounting and the unintended consequences of Sarbanes-Oxley. Dave wrote an article this week called “How We Can Clean Up A Lot of the Economic Problems“. The funny thing about going into debt is, well…someday you will have to pay it back. Our great-grandchildren are going to wake up

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