These are my terrible CPA excel Scorecards.
Let me explain. I used Yaeger/Wiley as my primary review and only used CPA excel every now and then. With my exam now 11 days away, I am now using CPA excel as my primary review to review my weakest topics.
CPA excel has an 88% passing rate for people who completed their course with at least a 90% in every lesson. If I had the time, I would try to do all 205 lessons, but that would take me another month of studying.
* Total Study Time format – Days:Hours:Minutes – So I’ve spent 47+ hours on CPA excel (but minus 3 hours because I just noticed that I have logged 164 minutes idling on the “Welcome/Introduction to FAR” guide)
I used to log my study hours, but I got lazy and stopped recording since January 31st. My last study log has a total of 67 hours spent studying Yaeger/Wiley up to Module 11. I’d estimate my hours for Feb/March/April to probably be around 100-150 hours which includes the 48 hours studying CPA excel. So my grand total hours spent on FAR is around 170-220 hours-ish… but I’d say its closer to 170 if not less.
My Final Review Topics based on FAR Content Specification Outline:
- This is what my final week, starting Monday, is going to look like… I will probably start with (II.) and (III.), then work my way back to (I.)
- Anything crossed it will either be skipped or lightly skimmed. Anything in RED will be reviewed in depth.
I. Concepts and standards for financial statements (17%–23%)
A. Financial accounting concepts
1. Process by which standards are set and roles of standard-setting bodies
2. Conceptual basis for accounting standards
B. Financial accounting standards for presentation and disclosure in general-purpose financial statements – Need to review and clear up any confusion with presentation/disclosures on all (5) items
1. Consolidated and combined financial statements
2. Balance sheet
3. Statement(s) of income, comprehensive income and changes in equity accounts
4. Statement of cash flows
5. Accounting policies and other notes to financial statements
C. Other presentations of financial data (financial statements prepared in conformity with comprehensive bases of accounting other than GAAP)
D. Financial statement analysis – Need to review ratios and commit to memory
II. Typical items: recognition, measurement, valuation, and presentation in financial statements in conformity with GAAP (27%–33%) – Mostly familiar with all topics, need quick review; anything in RED will be reviewed in depth
A. Cash, cash equivalents, and marketable securities
B. Receivables
C. Inventories
D. Property, plant and equipment
E. Investments
F. Intangibles and other assets
G. Payables and accruals
H. Deferred revenues
I. Notes and bonds payable
J. Other liabilities
K. Equity accounts
L. Revenues, cost, and expense accounts
III. Specific types of transactions and events: recognition, measurement, valuation, and presentation in financial statements in conformity with GAAP (27%–33%) – Mostly familiar with all topics, need quick review; anything in RED will be reviewed in depth
A. Accounting changes and corrections of errors
B. Business combinations
C. Contingent liabilities and commitments
D. Discontinued operations
E. Earnings per share
F. Employee benefits, including stock options
G. Extraordinary items
H. Financial instruments, including derivatives
I. Foreign currency transactions and translation
J. Income taxes
K. Interest costs
L. Interim financial reporting
M. Leases
N. Non-monetary transactions
O. Related parties
P. Research and development costs
Q. Segment reporting
R. Subsequent events
Oh yeah, I forgot to mention this weekend will be my Government and NFP final review
. I will probably spend a day reading/writing notes and lists to memorize and another day practicing MCQ/Sims (Gleim book has Simulations, but Wiley does not).
I plan on using the Gov/NFP CSO and just writing brief notes on each topic and hope that it sticks!
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FAR Final Review,
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