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Message
Please help: taking financial portion of CPA exam on Friday.
Posted on 8/24/14 at 12:31 am
Posted on 8/24/14 at 12:31 am
Can anyone give me some good tips for my last week of study for the FAR section of the CPA exam? I started out with the Yaeger CPA videos and then basically went through and broke the Wiley CPA guide into flash cards and my wife has been quizzing me on that material. I've also been taking the quizzes on the Yaeger site and want to do the Wiley quizzes but just don't have the money for it. I'm hoping someone here can give me some direction I'm not considering.
Thanks in advance everyone.
Thanks in advance everyone.
This post was edited on 8/24/14 at 12:33 am
6
Posted on 8/24/14 at 7:24 am to imjustafatkid
Im taking it Saturday. For the most part I would say have a pretty good understanding of everything do not neglect Not for profit and governmental. Also know the journal entries for the sims, and practice as many multiple choice questions as possible.
Posted on 8/24/14 at 7:54 am to mightyjet
quote:
Im taking it Saturday.
I wish they were offering it on Saturday here. My testing site is closed for the holiday weekend.
quote:
Not for profit and governmental
Yeah I'm working on these today. The Yaeger folks said it's 10% of the exam.
Thanks for the help. I'm really nervous about it and want to make sure I don't miss anything.
This post was edited on 8/24/14 at 12:35 pm
Posted on 8/24/14 at 10:13 am to imjustafatkid
Do you have access to practice sims? Depending on the sim, you can get good coverage of a topic by doing practice sims. Plus it can't hurt to get practice using the authoritative literature.
Posted on 8/24/14 at 12:34 pm to Oizers
I have sims in the Wiley textbook. Did you have something more specific in mind? Is there a website with practice sims on it? Pretty much the only sims I've found have been in the Wiley text. Seems to be no shortage of multiple choice questions hanging around.
This post was edited on 8/24/14 at 12:37 pm
Posted on 8/24/14 at 2:03 pm to imjustafatkid
I don't know of any that are free. Have you taken a AICPA sample test? At this point, there not much more you can do aside from reading notes, MCQs, and sims. Assess your strengths/weaknesses and go from there.
Posted on 8/24/14 at 3:22 pm to Oizers
I took a sample test to get a feel for the spreadsheet program and the calculator they have available during the exam. Is that the one you mean? They didn't have a whole lot of questions available.
Biggest issues right now are with hedge accounting and stocks and dividends (just way too many types). I'm not sure it's possible to feel "prepared."
I wish I could do the Wiley test bank but it's just not in the cards. Hopefully the book questions will be enough.
Biggest issues right now are with hedge accounting and stocks and dividends (just way too many types). I'm not sure it's possible to feel "prepared."
I wish I could do the Wiley test bank but it's just not in the cards. Hopefully the book questions will be enough.
This post was edited on 8/24/14 at 3:23 pm
Posted on 8/24/14 at 4:58 pm to imjustafatkid
Leave your self more than an hour for the sims. I'll never understand people that leave one hour for 40% of the test. You will probably need well over an hour; I'd budget 1.5 hours.
Posted on 8/24/14 at 5:00 pm to Sherman Klump
Thanks. Hopefully I can burn through the mcq with few issues.
Posted on 8/24/14 at 5:04 pm to imjustafatkid
Just take your time, but make sure you aren't dwelling on a m/c. When I took it, I either knew the answer, got it down to two or didn't know it. I marked the question I could narrow the choices down two and revisited those for a second glance.
This post was edited on 8/24/14 at 5:05 pm
Posted on 8/24/14 at 6:50 pm to Sherman Klump
Thanks.
Posted on 8/24/14 at 7:43 pm to imjustafatkid
Fwiw, sometimes you get lucky and they hit the main points. I took it a month ago, and they slammed the tiny arse minor shite.
Posted on 8/24/14 at 7:48 pm to Jcorye1
quote:
Fwiw, sometimes you get lucky and they hit the main points. I took it a month ago, and they slammed the tiny arse minor shite.
That probably means my exam will be similar. We are still in that testing window.
I'm trying to at least learn the meaning and treatment of everything. Hopefully that and working practice questions will get me through the exam.
This post was edited on 8/24/14 at 7:49 pm
Posted on 8/24/14 at 7:50 pm to imjustafatkid
quote:
Biggest issues right now are with hedge accounting and stocks and dividends (just way too many types). I'm not sure it's possible to feel "prepared."
It's just a huge amount of information. It's the "catch all" of the CPA exam. I still haven't got my score back, but I started on AUD anyways. I was fricking sick of FAR haha.
Posted on 8/24/14 at 8:17 pm to Jcorye1
quote:
It's just a huge amount of information. It's the "catch all" of the CPA exam. I still haven't got my score back, but I started on AUD anyways. I was fricking sick of FAR haha.
I'm going to be doing the same. Will start working on AUD next weekend after I take FAR and take that section on October 17. My plan is to take all 4 and then retake any sections I may have failed.
This post was edited on 8/24/14 at 9:19 pm
Posted on 8/24/14 at 8:23 pm to Jcorye1
FAR was a mother. I didn't find REG half as bad, preparation wise. Actual exam, I thought REG was tougher.
Posted on 8/24/14 at 9:15 pm to imjustafatkid
FAR is like a river that is 26 miles wide and 5 inches deep. You have to know about EVERYTHING that would have been covered in any of your intermediate or advanced fin acct classes, plus, your government/NFP class. You are going to see completely random questions about minor issues.
But... they don't go too deep into any issue.
I got an 81 and thanked my lucky stars. Good luck!
But... they don't go too deep into any issue.
I got an 81 and thanked my lucky stars. Good luck!
Posted on 8/24/14 at 10:53 pm to LSUFanHouston
quote:
I got an 81 and thanked my lucky stars. Good luck!
Congrats on the 81! I'd be more than happy with that score.
I'm sure I can use all the luck I can get, so thank you for that. No matter how much I study I just can't feel confident I will pass this exam.
Was IFRS really prevalent when you guys took the exam? For the most part it seems like IFRS is similar enough to US GAAP that I haven't had any major issues with IFRS questions even without full knowledge of the similarities and differences. Do you guys think I should be trying to learn all of the differences between them, or should I be ok with just a general understanding of IFRS?
This post was edited on 8/24/14 at 10:58 pm
Posted on 8/24/14 at 11:19 pm to imjustafatkid
You very well could see a simulation on an IFRS topic. Don't neglect that or gov/Nfp.
Posted on 8/24/14 at 11:30 pm to Sherman Klump
I'm all over gov/nfp. I guess I'll have to focus some attention on IFRS. Thanks for the heads up. I wasn't sure they were fully testing on it yet.
This post was edited on 8/25/14 at 12:32 am
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