Hi All, I am finding FSA section very difficult as there are many rules how to account different components related with Pension Plan, Inter corporate business etc. Can any1 tell me how to approach this section to remember all those rules and solve questions.
You have to remember the rules. It will help you in remembering this stuff if you practice the worked examples and the end-of-chapter questions.
I know what you mean. I don’t think Schweser’s notes are very good here. When reading their notes it feels very unstructured. Each page and each paragraph is just a list of dos, donts, exceptions and ‘by the ways’ about how to account for certain things. I also wish they’d separate the US GAAP and IFRS treatments more instead of just mashing the concepts together in a few sentences. I don’t think the CFAI books are any better really. However, I WOULD like to point out that I reallly really do NOT think Schweser is doing anything great in FSA. Let me explain: Let’s take Reading 21 - Employee based compensation. - CFAI text has 47 pages of reading (before the summary & questions) - Schweser has 18 …now I know that’s a big difference, but the CFAI text is full of massive tables which eat up a lot of space (17 pages by my count!!!) …whereas Schweser is just blocks of text. This makes Schweser and CFAI text roughly equivalent. …what I’m trying to say here is that when you adjust the 2 books for amount of reading/text - the Schweser advantage is diminished. Anyone else have any thoughts?
I plan on writing my own notes to it closer to the exam date. If you write it out yourself, it helps to remember it, plus you can structure it your way. It is awful though.