I suppose it's important to know, especially if you want to be a Chartered Financial Analyst, but it was not as useful as some of the other volumes for a lay investor like me.
FRA is a really big and impactful topic area. The CFA did a great job with tieing GAAP and IFRS together so that I could use my previous knowledge and expand it to global companies. I will be using this as a reference for years to come.