Trouble with FRA

Hello everyone, i have covered other topics on the CFA Level 1, and i am alreading scoring above 70% in all. However, i am yet to start reading FRA. I dont really have love for accounting, and thus its not my strong area, and i am panicking a little. So, please i need help on how to go about it and get the full out of it. It is 20% of the overral exam, and i cannot afford to score low. So please any advice you can give on this will be highly appreciated.

Thanks in advance.

Just read it as thoroughly as you would any other section- give the same effort. Don’t head into any topic with the idea that it will be difficult or that you won’t do well with it (this can create mental barriers). Be positive and assess your weaknesses after you’ve done some practice. Also, try to connect what you’re learning with previous material. This might help your level of interest.

Thank you for your contribution tickersu, its appreciated. I will take ur advice into consideration.

Build a table with all the notable GAAP & IFRS differences. 2 pages should do (the table i mean), and it’ll help you memorize those “grey areas”.

Study the first two sessions by heart, they aren’t that difficult. You can score easy points there. A big part of the exam (30-40%) will be on the third study session involving inventories, DTs, long term assets and liabilities. Know the basics at least in each, which means study enough material to be able to solve the blue boxes (very important) and EOCs, don’t go into details. Do that and you’ll surely score well (60%+) in FRA. You’ll pass for sure if you can keep performance high in the other topics.

Yea, the Table idea will definitely help, thanks, i will try that.

Thank you Mrsmart, i really appreciate the explicit details, i will gice my best to it, am sure i’ll do well, guess i just need a little bit of encouragement from you guys which i think i already got. so thanks once more.

I’m sure Google has a lot of these tables preset.

There are, essentially, three keys to studying for FRA:

  • Practice
  • Practice
  • Practice

I’ve written a few articles (and plan to write more when I have a chance) that may be of some help:

ok, i am reading your article now S2000magician. thanks.

My pleasure.

If there are any other articles you’d like me to write, let me know and I’ll get to them as quickly as I can.