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CPA Exam FAR Today
Posted on 10/14/11 at 10:35 am
Posted on 10/14/11 at 10:35 am
Just arrived at Prometrics to take the FAR section. (First part I am taking) Appointment is not until 12:30 but I left early so I could make sure I'd find it in time. The guy there says I should be able to start around 11:30 though, so 
Any last-second, sure-fire tips to passing?
Any last-second, sure-fire tips to passing?
2
Posted on 10/14/11 at 10:48 am to SLafourche07
Don't over think questions, remember that the ones from left field probably don't even count, and that when you're finished the worst is over with.
Posted on 10/14/11 at 1:05 pm to gabe311
Absolutely. There are a bunch of questions on the test that are strictly for research use, they do not count. Keep it moving, and don't get stuck on those tricky questions! Good luck, passing this exam puts you on a whole other level!
Posted on 10/14/11 at 1:23 pm to Sal T
I had a ridiculous amount of IFRS when I took it. I imagine half had to be research.
Posted on 10/15/11 at 10:37 am to SLafourche07
just moved FAR back. again
working and studying sucks
working and studying sucks
Posted on 10/15/11 at 12:45 pm to gabe311
First off, good luck.
Secondly, REG is the hardest, not FAR. I've passed FAR, and just took REG. I'll take FAR any day.
Secondly, REG is the hardest, not FAR. I've passed FAR, and just took REG. I'll take FAR any day.
Posted on 10/15/11 at 1:46 pm to GoHoGsGo06
quote:
Secondly, REG is the hardest, not FAR. I've passed FAR, and just took REG. I'll take FAR any day.
This is how I am feeling as well.
Posted on 10/15/11 at 2:17 pm to lynxcat
I felt like that when I took it, but I studied harder for FAR because I knew I would forget 80% of the stuff on REG and likely rarely ever need it for anything after that.
Posted on 10/16/11 at 6:17 pm to lynxcat
quote:
I had a ridiculous amount of IFRS when I took it. I imagine half had to be research.
I'm only a Junior in college (have quite a bit of time until I'm CPA eligible), and they've been teaching a good amount of IFRS and the differences between GAAP and iGAAP, convergence of standards, etc. because the CPA exam has been adding IFRS questions. So it's even more information to remember
.
Posted on 10/16/11 at 6:23 pm to ladytiger118
There are still major issues that need to be worked out before IFRS is going to be capably of being adopted.
IFRS basically won't budge on its stances and you are starting to have major players in the US providing pushback.
Unless the LIFO rule is changed with IFRS, conversion will not occur. The financial impact would be too severe.
IFRS basically won't budge on its stances and you are starting to have major players in the US providing pushback.
Unless the LIFO rule is changed with IFRS, conversion will not occur. The financial impact would be too severe.
Posted on 10/16/11 at 6:23 pm to ladytiger118
There are still major issues that need to be worked out before IFRS is going to be capable of being adopted.
IFRS basically won't budge on its stances and you are starting to have major players in the US providing pushback.
Unless the LIFO rule is changed with IFRS, conversion will not occur. The financial impact would be too severe.
IFRS basically won't budge on its stances and you are starting to have major players in the US providing pushback.
Unless the LIFO rule is changed with IFRS, conversion will not occur. The financial impact would be too severe.
This post was edited on 10/16/11 at 7:26 pm
Posted on 10/16/11 at 6:31 pm to lynxcat
Yeah, that's basically what it seems like...and it can be tricky trying to figure out which standard is accepted by whom. And if there is no convergence, is learning IFRS pointless if you're not in an international firm??
Posted on 10/16/11 at 8:55 pm to sneakytiger
Condorsement?? Ugh.
This sucks and the college Accounting students like myself are in the midst in all of this mess, as to which method is right and which method follows what for financial statements. Especially when it comes to what they've added to the CPA exam, and in general as to what they expect for Accountants to follow.
This sucks and the college Accounting students like myself are in the midst in all of this mess, as to which method is right and which method follows what for financial statements. Especially when it comes to what they've added to the CPA exam, and in general as to what they expect for Accountants to follow.
This post was edited on 10/16/11 at 8:57 pm
Posted on 10/16/11 at 9:01 pm to ladytiger118
what acct class are you learning that in?
Posted on 10/16/11 at 10:03 pm to Sherman Klump
I'm only in Intermediate I & the department expects us to know a fair amount of basic differences between IFRS and Gaap.
Posted on 10/16/11 at 10:48 pm to ladytiger118
It is infinitely better that they teach you about it than they don't. You won't need to know strict IFRS, the Greek debt abomination is enough for me to think that we won't ever have a full-scale takeover, but we're definitely going to continue to "converge." And truthfully, the big picture differences between gaap and ifrs are really not that complicated, I'm sorry.
Posted on 10/16/11 at 11:26 pm to kfizzle85
quote:
And truthfully, the big picture differences between gaap and ifrs are really not that complicated, I'm sorry.
Agreed. There are a couple pieces of terminology that are different, some looser verbiage that allows for more interpretation, and one or two distinct areas in contrast to GAAP.
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