 Hello and welcome to the session and which would look at CPA exam changes that deal with the far section That's going to be taking place on July 1st 2021 already discussed the regulation section and I will be discussing AUD and BEC and separate recording. Please see please see all four recording if you haven't take the exam So this way you'll make the best decision for yourself. If not, this is specifically for far of that's relevant for you That's a good thing Before I start I would like to remind you that if you are a CPA candidate I strongly suggest you check out my website farhat-lectures.com Most likely you do have a CPA course and I'm not asking you to To get rid of it. On the contrary, I don't replace your CPA review course. I can be useful addition I can supplement your CPA review course by explaining the material better I can add 10 to 15 points to your understanding for your CPA Exam and here's your risk invest for one month find out whether you like the system or not your maximum loss is $30 Your potential gain is passing the exam. I have I have helped Hundreds if not thousands of students pass the exam. Why not? Why don't you take that chance? And if not for anything check out my website to find out how well or not well your university doing on the CPA Exam connect with me only then and only then you will see actual Recommendation from actual candidate who are working in the real world Pass the CPA exam using my resources in addition to their CPA course, of course Please like this recording share it connect with me on Instagram and Facebook now this session I'm gonna be talking about far But remember that I already spoke about drag and you want to watch all four sections if you haven't take the exam to Make your decision because far in drag There's some some new information in the sense that they're gonna be they're gonna be They're gonna be taking content out of these sections. So if you want to defer your exam until July 1st It's not a bad idea. Although I although I always recommend starting with far Maybe there's a reason here not to start with far if you if you want to defer it And you will see why in a moment now remember the exam skill levels are evaluation analysis application remembering and understanding So topics are tested on a different level For far, they're gonna be downgrading the derivatives and hedge accounting from application to remembering and understanding So that's what the first positive thing. It's not it's not gonna make that much of a difference if you understand that you understand it But basically now when it comes to swaps options and forward You just have to remember basic information about these topics rather than demonstrate knowledge concepts or techniques So it's easier, you no longer have to do to worry about for example journal entries Maybe definitions here and there concepts so on and so forth Content to be removed and this is a big one for far huge one first one The IFRS content is being removed and that's a big one. That's a big one. Also the going concern requirement Now you still need to know the going if you look at the blueprint You still need to you still need to know the going concern for the audit section, but for far You don't have to worry about this It's not a big deal going concern requirement. Nevertheless, it's being removed one less thing to worry about Compensated absences how to compute the liabilities for compensated absences and the journal entries That's also being removed and the big one is retirement benefit That's a big one pension cost and funded status The reason they're doing these changes is because they believe a recent CPA may not need to know this information for the exam That's that's that's the reasoning behind those changes So is there a reason to defer your exam after July 1st? Yes, if you're taken far and if you defer it not a bad idea at all same thing would drag now I'm gonna I'm gonna be discussing BEC and audit In separate recording, you know, I would link all these recordings all together I'll put them all in a playlist make sure to view them You really want to make a strategic decision here because it makes a difference for these changes And though there are good changes for far and rag and it sends good that are removing major topics Especially in drag as well as you saw and far as well. So something you want to strategically Strategically think about before you set for the exam. Anyhow, good luck study hard and as always Stay safe and check out my website for additional resources and to find out how well is your university doing for the CPA exam? Stay safe