The sun and warmth has finally come to Minnesota, and I cant tell you enough how it makes a hugedifference in both overall mood and energy levels. I managed to get back to where I knew I needed to be for studying managed to get in just over 30 hours this week. Phew! After multiple distractions the past few weeks, it was good to get my hands dirty again and roll up the sleeves.
FAR is very detailed, but dont forget that everything flows back to the financial statements. Understanding the details of the statements makes the learning come faster. Additionally, knowing the statements makes you analyze what the questions are asking you. During the PP&E sections, if you understand the statements, you will understand the logic of the rules of when you need to capitalize it (BS) or expense it (IS), and you will see exactly where it goes in your mind once you know the statements. This is a fairly simple and high-level example, but if your study efforts are getting compressed, a working knowledge of the statements allows you to logically examine most questions from the practice materials.
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