Hi they also make CPA EXAM for dummies. I tried taking a picture of my book but idk how to use Reddit so here’s an Amazon link to it instead Amazon link here
I'm using Gleim. I'm doing small MCQ drills (10 questions each) for each study unit (Gleim has 20 units) until I either average 75 or better or I hit 80 questions total for that unit. For questions I get wrong I write down why I got it wrong and what I needed to know and put them into Anki.
I'm also using Anki for flash cards. For questions I get wrong I write down why I got it wrong and what I needed to know and put it into Anki.
First off, you are not alone. Everyone I know who has taken FAR feels the same way, so it's not you. I put in 250 hours of full time study for FAR and when I took the exam I felt underprepared.
My strategy is to only focus on my weak areas so it limits the time and material I have to study.
You'll find that your list of flashcards will grow every day that you study new material and do the MCQs. You need an effective way of managing them. I have done Becker flashcards, handwritten, and created my own electronic version using a system called Anki.
I use Anki exclusively now because it allows me to tailor how often I see a card. If something is difficult to remember, I will save it so i see it again in 1 minute or 10 minutes. Once i see the card again if i still have trouble remembering it, I can choose to see it again in 1 minute, of I feel better about it I can choose to see it again in 1 day or 4 days. This means that i'm always only focused on those areas that require the most attention.
Here's a link to Anki: https://apps.ankiweb.net/index.html
I bought one of these boxes and used it in 40 min increments (Pareto Method)
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Drill multiple choice questions and SIMs for each section of your review program.
I did small 10-question quizzes, maxing out at 100 in one day to avoid burnout. I use Gleim and Gleim has 20 study units in a section, so I'd do units 1-10 one day and then units 11-20 the next. I repeated this 5 times, recording my score in excel for each quiz. This took about 10 days.
I made sure to read all of the answers I wasn't confident in as well as the ones I got completely wrong after each quiz. I started taking notes and making cards for Anki (see below) once I started seeing my weakest areas (based on average and lack of consistency). By the last round of MCQ, I was drilling down to the weakest subunits of each unit.
I also did one round of SIMs for each unit at least once.
The second major thing I did was use Anki. It's a digital flash card program that uses spaced repetition to help you retain information. This must be used everyday and it's only as good as your cards are.
This is what my Excel file ended up looking like: https://i.imgur.com/cbmYmrT.png
Just get one of these. They accept them as masks for prometric, and they're VERY breathable. Doesn't fog up my glasses at all.
Check out the podcast he did with some of my friends in my grad program! https://www.buzzsprout.com/391423
It’s their 3rd most recent podcast. You can also just look up “Roll it Forward” on Apple podcasts/Spotify/wherever
Indirect answer to your question: Instead of re-writing questions you get wrong, I’d recommend Anki (free for Desktop, $25 to sync with mobile) or Quizlet to make digital flashcards. Then you can just copy the questions in straight from NINJA and have the other side be the answer. You do start to memorize the answers, but you can mitigate this a little bit by deleting the letter choices and replacing them with dashes or bullet points. Probably doubles or triples the amount of questions you can cycle through.
Direct but unhelpful answer: I took AUD 2 months ago (79) and honestly don’t remember any topics that came up a bunch or even what the Sims were. I’d say just be sure you know what procedures need to be done for the different types of engagements, ie reviews only require inquiry and analytical procedures.
I’d recommend making your own. Anki is a platform that lets you make your own flash cards, and you can store them on the cloud so you can access them on your computer or via an app (desktop is free, iPhone app is $25). It also has an algorithm that purports to aid you in studying in the most efficient way possible, i.e. if you know a card really well you can choose to see it less often so you’re not bogged down reviewing tons of cards you already know.
The Becker flash cards of course have everything you need to know, but a huge proportion of the cards relate to some obscure topic that has a small chance of being on the exam, and if you don’t know any better you’ll spend just as much time on those cards as on the ones that are really important.
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"1) Mom and Pop Exception:
- Taxpayers may deduct up to $25,000 (per year) of net passive losses if they ACTIVELY participate/manage property.
- They must own at least 10%
- Phase-out - the exception is reduced 50 cents on the dollar when taxpayers AGI exceeds $100,000 and is completely eliminated when AGI exceeds $150,000.
Example of phase-out:
Smith actively participates in rental property and has $120,000 AGI with a $40,000 loss.
Smith can deduct up to $15,000 of loss because (AGI of $120,000 is $20,000 in phaseout phase. 50 cents on the dollar of $20,000 is $10,000. Of the maximum allowable $25,000, $15,000 can be eliminated because (25,000 - 10,000)."
https://www.brainscape.com/flashcards/reg-1-loss-limitations-for-individuals-6036263/packs/9170759
I'm in the same boat as you. I saw someone post about this book off of amazon as a supplementary addition that works pretty well and gives a different perspective from Becker so hopefully it helps ? I think I'm just so used to Beckers style so I think it'll be a nice addition and its not expensive https://www.amazon.com/dp/B08P4B159C?psc=1&ref=ppx\_yo2\_dt\_b\_product\_details
I used this cram book off Amazon for AUD that I think helped.
At Least Know This - CPA Review - Auditing and Attestation https://www.amazon.com/dp/B08P4B159C/
I also had a King Size Reese's Fast Break during the break for REG and AUD, so I recommend that. Also had one in car after test for comfort.
I used this cram book off Amazon that I think helped.
At Least Know This - CPA Review - Auditing and Attestation https://www.amazon.com/dp/B08P4B159C/
I also had a King Size Reese's Fast Break during the break for REG and AUD, maybe that was key?
I used this series of books to stady. It has chapters with the material itself followed by a decent amount of multiple choice and simulations for each section. The only thing I used beyond this was the Gleim MC question banks, but they're a bit more expensive.