Starting January 1st, 2018, the FAR section of the CPA Exam will see extensive changes, particularly to the topic Revenue Recognition. Our experts highly recommend CPA candidates take the FAR section in 2017 and avoid this the 2018 FAR changes all together.
Why take FAR in 2017?
The update to Revenue Recognition in FAR is the most pervasive change to hit the CPA Exam in 2018. In a nutshell, this shift falls in line with FASB’s issuing of new standards by which companies recognize revenue. These standards are actually more streamlined, making the material easier from the practitioner’s point of view. What that usually means for candidates, though, is that it will allow the examiners to write questions that test on this topic in more depth, ultimately making it more difficult for test takers. Also, in most cases, what is tested will be very different from what candidates learned in school about this basic accounting principal. Our recommendation to take FAR in 2017 helps candidates avoid having to start from square one and learn the new guidance, rather than build on their existing foundational knowledge.
Is there still time to take FAR in 2017?
Yes! But time is ticking, as the last day to take the CPA Exam in 2017 is December 10th, 2017. FAR requires approximately 140 hours of preparation time—which many candidates spread out over 4-7 weeks. This includes watching lectures, studying materials, and going through practice questions and practice exams. Yes, it’s tight, but we know you can do it! And we highly recommend Roger CPA Review students take advantage of your customizable Study Planners to keep you on track.
Okay, but I want to take the rest of my exams in 2018. What do I do about CPA Review materials?
We understand that many students have put off their studies because they are waiting for 2018 materials. We’ve alleviated this issue by allowing students who enroll this fall to choose any combination of 2017 and 2018 course textbooks at checkout. Therefore, you could choose to receive 2017 course textbooks for FAR, and 2018 course textbooks for the other three CPA Exam parts. And of course, all Roger CPA Review students receive free online course updates as they occur. No matter what, we are dedicated to ensuring you are fully prepared no matter when you plan to take the CPA Exam.
So what are you waiting for?
The time is now! We highly recommend you jump start the study process, and conquer FAR. You’ll be so glad you got a leg up on your CPA Exam journey, and one step closer to reaching your goal.