For those reading this post who may be close to sitting for the exam, our state board director encouraged students to sit for the FARS section ASAP since the shift to IFRS will be incorporated into the exam soon (2 years?) and students may not have had the classroom exposure on this shift in governance that is about to occur and he mentioned that it wasn't incorporated into current textbook literature as of yet.
That's the one thing I am very worried about. But then one of my accounting professor told me the international standards are going to be similar/closer to American standards. So it can't be too bad?