Joined: 22 Oct 2008 Location: United States
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Posted: 16 May 2010 at 12:40 | IP Logged
I just review the simulation part of FAR, I found the information it gives is overwhelming to me. Even though I review the solutions, I still can't get a clue about how to do it,especially for the consolidation part...Do I need to listen to the lecture and read the textbook again? ...any suggestions or good ideas?
Joined: 30 Mar 2010
Online Status: Offline Posts: 130
Posted: 16 May 2010 at 13:44 | IP Logged
I think the best thing to do is not concentrate on how much info is given
in the situation tab. It sounds like you're trying to understand or
internalize it all right away, but odds are you won't have to use part or
most of it. The situation tab is only there to give you information to
answer the questions. Don't try to "figure it all out". Just get an idea of
what info is there (financial statement, list of transactions, or other" then
go to the tabs where you have to answer questions and only look back at
what you need to answer the question given.
Of course, you will need to skim all of the info to determine what is
relevant and not, but good preparation should make you well-informed
of what is needed or not needed to answer the question. If you find
yourself trying to answer a simulation question and you have no idea
what info in the situation tab applies or doesn't apply, You either don't
have the knowledge to answer, or you do but the information is just
overwhelming you. If you feel like you just don't know the rules and info
that applies, review that section in the book again.
If you feel like you know it, but can't filter or rule out unnecessary info,
use the book as a guide to help you figure it out. Don't worry about
feeling like you're "cheating" by using the book. The info overload can
make the simulation overly-difficult, and using the book to guide you a
couple of times will help you learn to filter and make you feel more
relaxed when the real exam is on.
Based on the above question/answers - how similiar is the actual simulation on the exam to the Becker simulation - does Becker overdo it? I have only 'practiced' the F1 simulation for Becker thus far - so just curious after reading these responses - thanks!
__________________ BEC - 60, 64, 74, passed
AUD - passed
REG - 63, 74, passed
FAR - 63, end of Feb - ??
Joined: 30 Mar 2010
Online Status: Offline Posts: 130
Posted: 16 May 2010 at 15:40 | IP Logged
I haven'n the exam yet (taking it tomorrow!) But I believe that somewhere in
the Becker info or in the simulation it says that, at least some of them, cover
more info and are a little more difficult than the actual simulations. I did the
simulations in their practice exam and they seemed a little easier than their
practice sims. One didn't even have any info in the situation tab; it was just
a glorified multiple choice section with writing and research.
Gotcha - you'll have to let me know what it looks like after you take the exam (in comparison to what Becker is like). I had the same feel for BEC - the final exam seemed easier than the Becker homework and supplemental questions had.
Good luck tomorrow - best of luck!
__________________ BEC - 60, 64, 74, passed
AUD - passed
REG - 63, 74, passed
FAR - 63, end of Feb - ??
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Topic: How to review the simulation part?
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