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Subject Topic: Help - Failed FAR (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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Poursuivant
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Joined: 11 Jul 2007
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Posted: 02 Jul 2008 at 13:12 | IP Logged  

Got my FAR score from NC last week, a 71. I thought when I left the testing center that it would be a miracle if I passed, but as time went by -- and I got further and further away from that bad post-test feeling -- I thought, "Well, maybe I passed after all." Alas, no.

So I have some questions for my fellow test-takers who were successful, but first a little background on me.

I have been out of college for over 10 years and neither my Bachelor's nor Master's degrees are in Accounting. (My state permits me to take the exam based on my years of work experience and the fact that I have a business-related Masters degree.)  I have never had a financial accounting class, so I've taught myself everything. I use Gleim materials exclusively because I simply cannot afford Becker (plus, I passed REG and BEC on the first attempt with Gleim, so I do believe his system works). I studied for FAR for about three months, with two week-long vacations in the mix, and at a rate of about 15 hours/week.

My questions to those who passed are:

1) Approximately how many total hours did you study for FAR?

2) How many financial accounting classes have you taken?

3) Are there any flashcards or DVDs or affordable "intensive review" methods that you recommend in addition to the Gleim system? (I have the so-called "Gleim Complete System" with sims, MCQs, and text.)

4) Any other tips or word of wisdom and encouragement?

Thanks so much for any advice.


__________________
REG -- 84
BEC -- 80
FAR -- 71 (try again Nov 08)
AUD -- 89
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whoomp123
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Posted: 02 Jul 2008 at 14:41 | IP Logged  

1) Approximately how many total hours did you study for FAR?
- atleast 60 hours so far with about a week more to go

2) How many financial accounting classes have you taken?
-intermediate 1&2 (covererd everything everthing but np and gov), and advanced (covered consolidations), financial statement analysis (all the ratios)

3) Are there any flashcards or DVDs or affordable "intensive review" methods that you recommend in addition to the Gleim system? (I have the so-called "Gleim Complete System" with sims, MCQs, and text.)
-I have been using Gleim Online and Gleim Test prep CD, after taking BEC i figured out it is more beneficial to concentrate on the CPAA sourced m/c's because the publisher/cma/cia/etc. sourced questions are usually too or too hard compared to the actual exam

4) Any other tips or word of wisdom and encouragement?
-I can't imagine teaching myself all the financial accounting topics, you should be proud! And you came really close so it might only be a matter of answering 4 or 5 more questions correct or getting a little more partial credit on the sims.  Don't look at it as "I failed", look at as "I only need 4 more points!"
Good luck!
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eddie500
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Joined: 22 Nov 2007
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Posted: 02 Jul 2008 at 17:43 | IP Logged  

I haven't taken an accouting class in over 8 years so I basically forgot everything, I even needed to relearn simple concepts.

I would say that you can't really compare yourself to other people who just graduated undergrad, you have to learn everything fresh and new so expect to put in many hours! IN my opinion if someone took 75 hours and just graduated, you really need 150 hours.

I can't afford Becker either so I'm using just the Wiley book, and have to learn everything with a book that just sums it up in a very hard to read fashion. This adds countless hours also, I have to figure everything out on my own without really any help. I'm sure your in a similar situation.

FAR is going to take a lot of time for you to pass compared to the other sections, there is just so much material and concepts to learn. The other sections were more just remembering facts and it didn't matter much that you didn't take accounting courses in those subjects.

Your simply going to just have to go through the book again and put some more time into it and make sure that you are able to answer every question and are able to go back and answer old questions with at least a 95% proficiency.

It's a lot of work, but don't compare yourself to someone who just got out of college. I personally feel like an idiot when I hear people say they only put in like 40-50 hours of studying and passed with no problem. If they had to relearn everything like you and me, it wouldn't take them just 50 hours of study.



__________________
REGULATION -- passed "83" Nov 07
AUDITING -- passed "85" Jan 08
BEC -- passed "87" May 08
FAR -- passed "91" Aug 08
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lakshmip
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Joined: 10 Dec 2007
Location: United States
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Posts: 504
Posted: 02 Jul 2008 at 22:19 | IP Logged  

Poursuivant wrote:
Got my FAR score from NC last week, a 71. I thought when I left the testing center that it would be a miracle if I passed, but as time went by -- and I got further and further away from that bad post-test feeling -- I thought, "Well, maybe I passed after all." Alas, no.

So I have some questions for my fellow test-takers who were successful, but first a little background on me.

I have been out of college for over 10 years and neither my Bachelor's nor Master's degrees are in Accounting. (My state permits me to take the exam based on my years of work experience and the fact that I have a business-related Masters degree.)  I have never had a financial accounting class, so I've taught myself everything. I use Gleim materials exclusively because I simply cannot afford Becker (plus, I passed REG and BEC on the first attempt with Gleim, so I do believe his system works). I studied for FAR for about three months, with two week-long vacations in the mix, and at a rate of about 15 hours/week.

My questions to those who passed are:

1) Approximately how many total hours did you study for FAR?

2) How many financial accounting classes have you taken?

3) Are there any flashcards or DVDs or affordable "intensive review" methods that you recommend in addition to the Gleim system? (I have the so-called "Gleim Complete System" with sims, MCQs, and text.)

4) Any other tips or word of wisdom and encouragement?

Thanks so much for any advice.

 

I read a post in this forum saying you need 600 hours of study time in total for all 4 sections . So it is approximately 150 hours per each subject . So 2.5 hours a day for 2 months would be good .

Are you required to do your accounting courses to get a CPA license in NC .

I am allowed to take CPA exam in New Jersey too with an M.B.A but I need to have 24 credits in accounting to get a license . So I am doing accounting courses in a community college simultaneously.



__________________
BEC - 84 (May 08)
FARE - 76 (Aug 08)
AUD - 78
REG - 86
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Poursuivant
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Joined: 11 Jul 2007
Location: United States
Online Status: Offline
Posts: 14
Posted: 03 Jul 2008 at 10:19 | IP Logged  

Eddie,

Thanks for your note, it's actually very helpful. I do think I need to re-conceptualize FAR since it's so much bigger than the other three, and basically give myself more time to learn it.

Lakshmip,

From what I'm told by the NC board, my MBA suffices to both sit for the exam and for licensure. But we'll see how that goes. My experience with bureaucrats is that they're prone to changing their minds. ;-)


__________________
REG -- 84
BEC -- 80
FAR -- 71 (try again Nov 08)
AUD -- 89
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