How Deeply Do You Try To Understand The Material?

As I am reading the FAR textbook, I am wondering how deeply I should understand this material. For example, when reading the textbook or watching the lectures did you approach it like "Okay preferred stock, common stock, retained earnings, paid-in capital in excess of par, I have heard the description once of each of these so I'm moving on..." or did you try to actually deeply understand and acknowledge what each thing meant, like to the point you could explain it to another person? And should you feel that way about every topic in the book? Thanks!