First and foremost, if you have decided to pursue this course, 100% determination and consistency are necessary. One cannot pass the exam unless he/she is focused on studies. My study strategy for all four subjects is as follows. I will suggest you appear for the exams in the following pattern only as FAR has interconnection with other subjects.
FAR: – Financial Accounting and Reporting (FAR) is the BEAST. You have to dedicate more time to this subject. I will suggest that if you are not familiar with basic accounting concepts, try to brush up on those concepts first and then only start reviewing the subject. Watch the lectures at least twice.
Try to finish one chapter a week. On Sundays, solve the solve random MCQ tests & TBS. Some of the chapters like Revenue Rec, leases, Fair Value & Equity require more attention. We get a lot of MCQs from NFP, Governmental in the exam. The concepts are a little different in this area. Understand the concepts very well.
AUD:- Audit after FAR is suggested as there are accounting concepts like adjusting JEs, Ratios which are tested in the exam for TBS. Audit is a pure theory subject; thus, understanding the theory in depth is necessary.
Understanding various reports and types of opinions is the key. If you want to score well in the exam, solve the MCQs again and again as it can give you a grip over various concepts.
There are two chapters for audit procedures. Understand those procedures very well. Try to understand these concepts with real-life scenarios. Auditing and Attestation (AUD) requires at least 3 months with full-time work and long hours of study on weekends.
BEC: – You will have already learned some of the concepts of Business Environment and Concepts BEC in FAR & AUD. The first chapter is a pure theory chapter, and you will get a lot of MCQs from the chapter.
Economics will also fetch you good marks once you are familiar with the concepts. For Financial Management & Operations Management chapters, you will have to practice the concepts and solve the MCQ/TBS. In Becker’s material, they have given different scenarios for a particular concept.
Try the MCQs for all the scenarios so that you will thoroughly understand the concept. For the IT part, you will have to gain some practical knowledge which you can get by googling the words. BEC can be attempted by 2.5 months’ study time with full-time working and long hours of study on weekends.
REG: – Regulation (REG) You will find this subject difficult to understand if you are not familiar with US Tax Laws. I will suggest you to attend/watch the Simandhar lectures for this subject as Suri Mam will explain the concepts in depth.
Again practice is the key. Understanding the basis in different formations (i.e., C Corp, S Corp, Corporation) is a must, without which you won’t answer the TBS in a real exam.
Find some time to go through actual forms provided in the resources chapter wise which can give a better understanding of the law. The last two chapters of Business Law are pure theory chapters. Prepare notes of all chapters and read the notes as and when you get time. Personally, I took 4 months to complete the subject with full-time work.
Apart from this, you must attempt all the Becker Mock Exams before your real exam. If you are scoring well, then only try to attempt the real exam; otherwise, take your time and revise again and again—plan long hours of study on weekends. Solve random practice tests of 100-100 MCQs on weekends. If you plan properly and give your 100%, then nothing is impossible.
To know more details, please feel free to contact Simandhar Education @+91 7780273388 or mail us at info@simandhareducation.com.
