FAR Study Tip #1: Concepts
In FAR is very important to focus on concepts, ask yourself why things are done a certain way while you read your book or most importantly when doing mcqs. That why when the real test asks you questions in a different way you will be able to decipher the answer. Do not memorize the answer, be skeptical and question why things are done in that way. - Carlos C.
FAR Study Tip #2: Repetition
I did not do any MC or sims while studying for FAR. I found early on in my CPA review adventure that I do not learn well by guessing wrong answers all day. But I know that is a common way to prepare for most.
Like I said, I went over my materials like 20 times, after each page I see if I can recite what I read before moving on to the next page. A similar tactic was used for the flashcards. I did use audio for a while also. And right before the exam I found some videos on YouTube for government/nonprofit as I did not take that course in school.
Most exam questions really come down to do you include a number or not. Memorizing lists and rules ( and exceptions to the rules ) help out the most on exam day. - Tim D.
Like I said, I went over my materials like 20 times, after each page I see if I can recite what I read before moving on to the next page. A similar tactic was used for the flashcards. I did use audio for a while also. And right before the exam I found some videos on YouTube for government/nonprofit as I did not take that course in school.
Most exam questions really come down to do you include a number or not. Memorizing lists and rules ( and exceptions to the rules ) help out the most on exam day. - Tim D.
FAR Study Tip #3: Scratch Paper
Q: So there's 10-15 minutes before you have to click start before the exam. What are the one or two most important concepts you recommend putting on your scratch paper before the test? - Jenn S.
- Any formulas that u are weak on - Jennifer T.
- Most likely, ratio formulas. Maybe EPS formulas. Any concepts or ideas you have a hard time remembering...not a bad idea. - Maryanne S.
- Just click "start" don't add any more painful minutes! I know it helps some people to just memory dump on the note paper. But my logic is, you either know it or you don't. Plus, whatever you write down may not even come up! Why waste time and potentially confuse myself. Just my thinking, to each their own! You will do great regardless! - Bennet A.
- I found it helpful to write it down before the exam because here is the thing, at least that was my experience, I read the question and start trying to remember the formula then I started to doubt whether it was net sales or net income the nominator for my formula. That being said u remember it and write it down. if you happen to need that formula or whatever it is that u wrote down, u reference what u wrote instead of panicking and confuse your brain with the confusion they add to the questions - Juleita F.
- Pension expense, eps and deps is what i did. Also govt funds by category. - Bernice G.
- Pension, Lease & Bond formulas...also Impairment Formula -2 Step method - A.B.
- Any formulas that u are weak on - Jennifer T.
- Most likely, ratio formulas. Maybe EPS formulas. Any concepts or ideas you have a hard time remembering...not a bad idea. - Maryanne S.
- Just click "start" don't add any more painful minutes! I know it helps some people to just memory dump on the note paper. But my logic is, you either know it or you don't. Plus, whatever you write down may not even come up! Why waste time and potentially confuse myself. Just my thinking, to each their own! You will do great regardless! - Bennet A.
- I found it helpful to write it down before the exam because here is the thing, at least that was my experience, I read the question and start trying to remember the formula then I started to doubt whether it was net sales or net income the nominator for my formula. That being said u remember it and write it down. if you happen to need that formula or whatever it is that u wrote down, u reference what u wrote instead of panicking and confuse your brain with the confusion they add to the questions - Juleita F.
- Pension expense, eps and deps is what i did. Also govt funds by category. - Bernice G.
- Pension, Lease & Bond formulas...also Impairment Formula -2 Step method - A.B.
FAR Study Tip #4: Sims
More points are lost or more simply not earned on the SIMS than lost on the MCs from wrong answers. Think!: The test is graded logarithmically. Once the pre-test questions are eliminated and the rest scored - everyone will be bunched close together. Where can you stand out and turn a bad test into a possible 75? No one thinks about this but its true. THE SIMS ---- study the SIMS and try to touch all possible subjects they could be on - do all the practice SIMS. Practice the research questions, etc. that's my advice - good luck! - Christopher P.
FAR Study Tip #5: Weak Areas
Work with it a while and you will figure out for yourself the areas that you have trouble with as you go through it. Take some time each day, when the books are closed and the studying is over, to think for about 10 mins on what you covered that day. Walk through a scenario or two (an example problem) in your head and make sure it makes sense why we account for it in that way. These little reviews each day are an awesome tool to help you remember. Also, I find it beneficial to study every day, but on two days a week (usually days that I have less time than normal study days) I review what I've covered since my last review. So tuesday and friday evenings are review days for me. On tuesday, I review all of the material I have covered since the prev Friday when I reviewed. Works great. - Steve B.