FRA....A real nightmare!!

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michael299

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I’m doing FRA and find that so depressing., especially while doing income tax. There’s so many concepts to memorize and while moving on, I forgot what I did lastly. Anyone feeling the same thing. Any advice to tame this beast!
 
I am going through exactly the same today!!….
SS7 and SS8 were pretty fine for me…SS9 started to feel very very detailed…and income taxes got me depressed today…after viewing the VCD of Peter Olinto giving the lecture on income taxes, i opened the Stalla book…the text seriously made no sense to me…
advice? i guess i am looking for it myself….either i’d revise the VCD again or look for some other source for the explanation…
 
Just out of curiosity, are you guys studying full time or are employed as well?
 
SS9 is surely the toughest section in FRA. I was lucky to get above 60% on the quizzes on the CFA1 book.
To master this I think it’s going to take a couple more reads, working out some problems to get a better hold of the concepts as opposed to attempting to memorize, and hit the QBank hard to begin to gain some confidence in answering questions from this session.
 
Talk it out with your study mates and explain it to them like you were teaching it to a person that had never been exposed to the concepts.
 
Same here. Started the tax section yesterday and re-read it today and all the DTA and DTL stuff isn’t easy to get a grip of. I’m using Schweser and going through the examples does help put things into perspective somewhat….kinda. Even so, it’s pretty tough especially when the last time you looked at accounting was 4-5 years ago. :(
 
Hey Guys… I was in the same situation and feeling the same way about FRA just last week. There is a lot of information, and when its all thrown at you for the first time it can be a bit discouraging. BUT, do what you can to understand as much as possible and work out the end of reading practice problems to build a stronger understanding of the underlying concepts.
Keep on with it and don’t let the material (regardless of how mind-numbing it is) get you down. I’m finally out of the forest that is FSA and its a good feeling. Keep on hitting the books and you’ll be out in no time as well.
Its not so much a nightmare as it is a bad dream, just wake up, smell the coffee, and keep on with the material.
Good luck with your studies!
 
I am thinking I’d leave income taxes for a while and come back to it after finishing the rest of FRA…getting stuck on something makes me nervous…
does it sound fine?
 
sumz Wrote:
——————————————————-
> I am thinking I’d leave income taxes for a while
> and come back to it after finishing the rest of
> FRA…getting stuck on something makes me
> nervous…
>
> does it sound fine?
That happened to me as well when read taxes last Aug. Don’t lose time if you are not getting anywhere but try and get back to it as soon as you can.
 
I am Stuck at Income Tax…I am using the CFAI and Schweser notes, and I get even more confused…the terminology is totally different, for example, the Schweser notes do not mention the terms Tax base and Carrying Amount atall…whereas I have not come across the equation: Income Expense = Tax Payable +DTL-DTA in the CFAI text…I read somewhere that there r two approaches in understanding the Income Tax…do you think that may be the reason for the huge difference in explanation of concepts in CFAI text and Schweser? Thanks.
 
I’m on SS9 right now too. Taxes is a tough section, but I’ll also recommend that you do the practice questions and use the Qbank to actually try to apply what you read. It helps a lot to understand the concepts. Especially the Qbank questions since they are more quantitative but, for me at least, working through the mechanics of what happens and why really helps understand the concept.
 
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