Archive for June 2009

I Passed FAR!!!

June 25, 2009

Couldn’t be happier about it!

REG has me worried, though, and I’m taking it in 6 days! No time for worries — back to the books and practice problems I go.

Wish me luck!

FAR Down, AUD, REG, and BEC to Go!

June 11, 2009

At least I hope so. I don’t actually get the FAR (Financial Accounting and Reporting) results for something like a month, which seems like quite a long time to me. But that’s not as long as CFA takers have to wait (more like three months, so I’m told) for their results, so I won’t complain.

I’m not supposed to say anything about the test content, but I can say it didn’t seem incredibly difficult. I studied quite a bit, went through all of the Becker Review materials, memorized the flash cards, and did a healthy portion of the practice problems – many of them multiple times. So I felt prepared, went in there swinging, and came out feeling like I passed. We’ll see relatively soon if that truly was the case.

In the meantime, I’m taking my last few classes before graduating, and I’m also studying for REG, which is a bit shorter than FAR, and not quite as all-encompassing. Then again, it has a bunch of regulatory material that I’m less familiar with since I’ve only taken one business law class back in the day. Fortunately, Becker has come to my aid again by organizing and presenting the material in an easy-to-digest format. I promise I’m not a Becker marketing guy, I’m just really grateful to have review materials to guide my studies and make my review more effective and focused. Plus, you can’t beat FREE stuff. Many thanks to my future Big Four employer for footing the bill.

There is one thing I’ll mention about studying: It’s often difficult for me to stay focused and to keep pushing through review materials. After a few hours of studying (sometimes after only an hour), I get tired of it and want to stop and do other things. But I take courage in knowing that passing all four of the exam sections this summer will be a huge blessing to my future self’s life, and I’ll kick myself if I don’t take full advantage of the time I have now to prepare thoroughly for each section. I doubt I’ll ever have as much “free time” to study like this, and I know I won’t feel like studying after long days at work in the future.

So now is the time to push through the material and pass these exams (I’ll watch the 5th DVD lecture for REG as soon as I publish this post). Best wishes to any others out there studying! Here’s an excerpt from CPAreviewforFREE that strongly resonated with me (I like to dream, but I also recognize that real work is what accomplishes goals and makes dreams come true):

“There is something exciting about planning to win. There is something stimulating about envisioning the winning score and the glory of being the champion. However, at some point, you have to switch over from dreams to reality. That usually means doing some hard work and doing it on a very consistent basis.

Dreams are fun. Hard work can be tedious.
Dreams feel good. Hard work can be very uncomfortable.
Dreams can get you excited. Hard work is best done at a slow and meticulous pace.

But, dreams alone GET YOU NOTHING.

I love dreams and I always encourage everyone to dream. At some point, though, dreams can be addictive and lead to nothing. You have to break through and push yourself to actually achieve success.”