I could not agree more with those above words. I am of the same view.  I am not only preparing to pass the CPA exam, but using the preparation as a way to really understand those accounting treatments that are necessary in the accounting profession like income tax, pension, consolidated financial statements and bonds (difficult ones at that too).   

I believe one should not just prepare to pass the CPA exam, but take the time to learn the accounting rules as they will be necessary in the accounting practice. 

Accounting for income tax was always a big problem for me, even when I was preparing for the ACCA (UK Chartered Accountant) examination.  I have always said that I wanted to become a champion at handling  diferred income tax issues inside-out and I can truly say that I have now become that champion because of preparing for the CPA exam. 

I must give credit to the Bisk book as it did an excellent job in helping me to understand this difficult area. Trust me, the chapter is written in such a way that it is easy to understand.  Several worked examples are given to reinforce the information.

Even though studying for the FAR section this way has taken a lot of time and by the way, which explains why I had to revise my study schedule three times this year and reschedule my exam to Feb 2009, however, I feel more confident going into the exam next year, hoping to be assured of a passing mark.

So, to those who are preparing for the FAR section - take the time to learn the concepts.  Mull over the MCQs; reason on them, make your own notes and use mnemonics to remember the rules.  That's what I have done to become a champion at income tax which will help me in the exam and in my accounting career.