There are a multitude of suggestions on how one should go about preparing for FAR. In my honest opinion, I found that reading the book first without watching the videos was far more beneficial than watching the lectures without gaining a basic understanding beforehand. Therefore, I adjusted my studies to follow this order, and it turned out to work very well for me.
Read the Chapter:
I would first read the chapter/Section and do all of the questions at the end of the section in the book. The reason I only did those in the back of the book was so that I could get an idea on what I had a basic understanding of and what I needed to spend more time on. With this basic information, I would then move onto the next step.
Watch the Lecture:
With a general understanding of the information, now you will be able to really develop a greater understanding of the topic. It is really important to NOT simply follow along. While the lecture is playing, make notes in your book to remind yourself of the important topics or key facts that are crucial to obtaining a deeper understanding of the material. There were times where I would replay the same 30 second clip 4 or 5 times to make sure I had everything written down and reworded into a way that would help me understand the concept.
Work all of the MCQs:
Lastly, now you should go ahead and complete all of the multiple choice questions. With the updated software analytics, Roger CPA Review will now be able to provide you with a deeper analysis of what questions you’re getting wrong and where your weak spots are. While going through the MCQs, make sure to take notes on the questions you get wrong AND the ones that you answered correctly but did not feel comfortable answering. Do not only read why the answer is right; you must read everything and make certain you understand why the other answer choices are wrong also.
Review Gold Tips:
I’ve found that not only do making flashcards help me gain a deeper understanding of the topic, but it is a great way to take 5 or 10 minutes of downtime and review. By constantly reviewing the flashcards, the information will remain fresh in your head and help you determine where you need to spend the majority of your time during your final review up until exam day. This is also a perfect way to quiz yourself on the journal entries required for specific transactions. Once I implemented flashcards into my routine, my scores on the CPA exam began to rise.
Chris Boate, Guest Blogger for Roger CPA Review