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How I Passed FAR and BEC

Let’s start journey with few basic tips –

  • Keep a target of your exam date.
  • Prepare plans of your subject – in writing.
  • Utilize best time of your day i.e. early in the morning.
  • Be loyal with your studies.
  • Drink enough water, take proper sleep and take care of your diet.
  • CHALLENGES AHEAD? HUH!
    WHO CARES! I AM A CA.
    CHARTERED ACCOUNTANT.

    Isnt it true? Yes it is. So, what’s special with CPA. Nothing much. Same determination, same dedication, same work hard, same passion and same enthusiasm. So for what you are waiting, GO AHEAD………….

How I Cleared Financial Accounting & Reporting (FAR) Exam

Yes, It’s Lengthy subject – no doubt about it. But you know it’s one of the easiest subjects after BEC. Try to make concept notes in your language, in your format (Tabular / Essay – I prefer in Tabular format) and In your handwriting – the reason being, on the last day before exam you can revise all the concepts through your notes in a short span of time. Its worth – believe me. The only one problem which I want to discuss about FAR is, after starting from first chapter till we reach the last chapter, we tend to forget the starting chapters – all because of its length. Hence extract some time in between to revise previous chapters which you have already done, thus you will not loose trail. Once you learn and understand concepts, no one can stop you.

When I appeared in this exam, found exam lengthy, thanks to my notes - was able to apply concepts even though it was little tricky. Therefore understand the concepts and logic as well.

How I Cleared Business Environment and Concepts (BEC) Exam

BEC is easiest and shortest subject in CPA. First and Last chapters are like theory based, else practical. You need to have a grip on theory as one testlet of one MCQ may come from these two chapters only, whereas other MCQ testlet may come from other practical chapters. Prepare some handy notes as shown above to revise at last moment on the day of the exam and to understand the concepts in a much better way.

Very easy to attempt this exam – goes smoothly – can finish on time. In Simulations, they mostly give all the variances and ratios formulas, so no need to remember all those. Still have a look and understand the formula, in case if they don’t give you are somewhere than nowhere.

There would be three written questions, which are also trouble free to explain. First read and understand the question properly and pen down some related influencing words to include in your answer. Make three paragraphs – Intro, main answer and conclusion, two or three sentences in each paragraph. I know at that point of time you will feel lot to write, although not feasible, thus make it attractive within time and content limit.

Relax, just practice and practice, you got to achieve it. Still have some doubts, I am currently pursuing Regulation section from Simandhar education, I would recommend Simandhar education for live classes.

Thanks
Dipti Mittal (CA),IFRS