Continuing the Debate on UFE Partners / Study Groups

I’ll start by saying that there are still plenty of ads up on the UFE Study Partner search. If you’re still looking for a group or partner for the 2013 UFE do head on over and check it out. If you’re in need of a group or partner feel free to post an ad – they are absolutely free.

Now on to the meat (sort-of).

A lot of people wonder if having a study partner for the UFE is really necessary and some choose to go at it alone. I’ve known a few that did it this way and successfully completed the UFE so as I always try to say, there are many paths to success with the UFE and it’s not as black and white as some argue. I’ve had my own challenges and had to find a new study group when I was studying for the UFE a week into the process. ¬†That said, I think having a study partner or group is a key success factor. I’ve written about this before so I won’t restate everything but do head on to my pro/con analysis I wrote for the UFE last year. Then join us in the comments to continue the debate!

6 comments

  1. I wanted to ask you. How were you scoring in the mocks in the beginning of your UFE prep? I find it that the cases I have written so far are a little bit tougher on the content. I am writing with Densmore.

    Thanks again UFE Blogger. Love the site.

    • You’re right – the UFE cases are tougher on content and the expectation is higher, especially for accounting issues.

      This is just a matter of adjusting your responses to meet the higher expectations and the more cases you write the more you’ll see that you’re ‘getting it’ and writing cases more inline with UFE expectations. Nothing to worry about yet.

      You’ll probably see your marks are a mixture of NC and RC at this point if you’ve come off of SOA. While getting Cs is possible, I imagine most of your marks will be NC or RC right now. You might hit an NA here and there (except in PQs where it’ll be more often than not right now).

  2. Thanks,

    Also for debriefing, we are looking at what could we have done to get C right? Like write all criteria and using case facts? Also, the difference I noted is that you have to do all of the criteria to get to discuss level unlike SOA where if you meet the first criteria (e.g. leases) you dont need to move on.

    Thanks again

    • Yes, your goal is to score Competent on each indicator.

      Big picture – with PM issues, you are looking at what the issue is, you are considering alternatives (if there are any) and you’re working through the criteria as you mentioned to come to a conclusion/recommendation on the correct accounting treatment and why. All this with case facts, of course. Stating criteria alone will NOT score you points. I will have a few examples posted in the future to clarify this a little more but that’s how you should look at the issues big picture.

      One important note, it makes no sense to discuss alternatives which are not valid at all. Something like a gross vs. net sales is a great issue to discuss the alternatives and decide based on the case facts. Other issues where the criteria is very specific is not a valid alternative therefore discussing something not allowed as an alternative adds no value. You would just, in this case discuss only the valid treatment. Go the extra step by calculating it’s effect on the F/S.

Leave a Reply

Your email address will not be published. Required fields are marked *

Commenting Guidelines

I love open conversations. Casual is fine, professional is fine, but this is a community so anything abusive, demeaning or annoying will be removed at my discretion. Below is a guide to help keep you on the straight and narrow.

  1. 1. Use a name or alias. I understand wanting to keep your name personal, so make something clever up and stick to it. We can't tell each other apart if everybody is "Anon".
  2. 2. Remember the point. This is a community to discuss, debate and assist each other to pass the CFE or discuss other CPA things. Let's act like we're all the intelligent professionals that we are supposed to be.
  3. 3. No personal attacks. It's okay to disagree with opinions or advice but argue the point, not the person.
  4. 4. Don't be obnoxious. You should be proud if you are the next honour roll writer or work for a prestigious firm but don't be obnoxious by using it to feel better than others.

*

Other Great Reads

Get the Latest CFE News

Get the Latest CFE News

Get the latest and most important CFE news right to your inbox. I'll keep it to the best stuff and infrequent, promise.

You have Successfully Subscribed!

Pin It on Pinterest