In this video, the speaker, Kyle Ashcraft, shares his experience of scoring 95 on the FAR (Financial Accounting and Reporting) exam. He discusses the exam's structure, study approach, and major topics, including governmental accounting, debt and equity securities, equity transactions, and accounting for foreign currencies. Kyle emphasizes the use of Excel during the exam and recommends downloading real-world financial statements for practical understanding. He also offers online private CPA tutoring through maxwellcpareview.com.
Here are the key facts extracted from the text:
1. The speaker's name is Kyle Ashcraft of Maxwell CPA Review.
2. Kyle scored a 95 on the FAR exam.
3. The FAR exam covers the most content compared to other exams.
4. The FAR exam covers a wide range of topics, including governmental accounting, bank reconciliations, and business consolidations.
5. Excel can be used during the FAR exam.
6. Kyle studied for the FAR exam over eight weeks while working a full-time job, totaling approximately 160 hours of studying.
7. Kyle took the exams in the order of FAR, BEC, REG, and Audit.
8. Major topics for the FAR exam include governmental accounting with five funds, debt service fund, permanent fund, and general fund.
9. Accounting for equity transactions varies based on the percentage of ownership.
10. Three types of accounting for foreign currencies: recording currency, functional currency, and reporting currency.
11. Downloading real-world financial statements for for-profit companies, non-profits, and governmental entities can be helpful for studying FAR.
These facts provide an overview of the video's content without including opinions.