If you’re a student preparing for the CPA exam, particularly the Financial Accounting and Reporting (FAR) section, you’re probably wondering how to prepare for it effectively. It’s one of the most challenging exams of CPA, but with the right study techniques, it’s quite possible to clear in the first attempt.
To get the best study tips, we spoke to our alumnus Anindita Sharma, who is a qualified Chartered Accountant and has also cleared her CPA exams within a span of just 10 months. Anindita credits her success to Miles Education, which provided her with the guidance and support she needed to ace the exams.
Here are some of Anindita’s study tips for preparing for the CPA exam, particularly the FAR section:
1. Focus on Conceptual Clarity: Anindita’s first tip is to focus on understanding the concepts rather than just memorizing them. While you may have studied accounting in college or during your CA course, the US GAAP portion may be slightly different, and it’s essential to unlearn what you know to learn new concepts. To gain conceptual clarity, she recommends watching all the videos provided by Miles Education. She also suggests watching them at 1.5x speed, which helped her save time without compromising on understanding the concepts.
2. Practice MCQs and Mock Tests: Anindita advises students to practice 100% of the multiple-choice questions (MCQs) and mock tests provided by Miles Education. The LMS is designed in a way that all the possible questions are there for students to practice. The MCQs not only provide a reason for why your answer is right but also provide reasons for why the other options are wrong. This helps students understand the concepts better than ever.
3. Block out Noise: There will be a lot of opinions and noise from everywhere, but Anindita recommends blocking it out and focusing on what Miles Education tells you to do. Miles Education has an excellent track record of producing successful CPA candidates, and following their guidance can help you achieve success.
4. Listen to Understand: Anindita advises students to listen to understand what the instructors are saying instead of listening to memorize. It’s crucial to understand the concepts rather than just memorizing them. This approach helps in the long run and can be beneficial in your professional career.
5. Take End-to-End Support: Finally, Anindita advises students to take advantage of the end-to-end support provided by Miles Education. From registration to completing the exams, Miles Education provides students with the guidance and support they need to succeed.
If you’re feeling overwhelmed by the thought of preparing for the CPA exam, particularly the challenging FAR section, remember that it’s not impossible to clear. You just need to have the right mindset, techniques, and support to achieve success.
In conclusion, preparing for the FAR section of the CPA exam requires dedication and hard work. However, by following these study tips provided by our alumnus Anindita Sharma, you can prepare effectively and increase your chances of success. Remember to focus on conceptual clarity, practice MCQs and mock tests, block out noise, listen to understand, and take advantage of end-to-end support. See you on the other side, candidates! Good luck.