AUD Study Group Q4 2021

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  • #3307130

    Welcome to the AUD CPA Exam Study Group for Q4 2021.

    Introduce yourself and let us know how your AUD studying is going (or not going).

    AUD Study Group Links and Resources:

    1. NINJA Monthly – $67 AUD Course
    2. AUD Study Planner
    3. Free AUD Notes
    4. Free AUD CRAM
    5. AUD Course Comparison
    6. How to Pass AUD (with NINJA)
    7. How to Pass AUD (in 20 Days)
    8. How to Pass AUD (after Failing)

    aud cpa exam study group

     
    Jeff Elliott, CPA (KS)
    NINJA CPA Review
    #3308444
    Ninja Albert
    Participant

    Hi everyone, having an AUD retake this coming Monday, using Ninja and Beckers. Just scored an 80 on mock exam 1. any tips for the next week?

    #3308453
    takai.jin
    Participant

    Greetings! I'm also cramming for AUD at the moment. I have my exam scheduled for the 17th of December and am currently grinding out MCQs. I'm not sure if I can pass in such a short time, but I've got to at least try because of the payment plan I chose. Good luck to the rest of you–do well!

    AUD - 64
    BEC - 67
    FAR - 82
    REG - 66
    That which neither hungers nor craves is beauty defined.
    • This reply was modified 3 days, 19 hours ago by takai.jin.
    #3308498
    alexandra
    Participant

    Recently failed AUD 🙁 Retaking later this month– what works for you guys for remembering the opinions with all the exceptions and different forms? (review, compile.. etc) Is repetition/burning it into memory the best way?

    AUD - 66
    BEC - NINJA in Training
    FAR - 77
    REG - NINJA in Training
    it's your attitude, not your aptitude, that determines your altitude - zig zigler
    #3308501
    alexandra
    Participant

    nice work.. it sounds like you will be ok next week with that mock exam score! I think just constant mcqs is the best for this- but don't take too much advice from me as i just failed in november, haha !!

    AUD - 66
    BEC - NINJA in Training
    FAR - 77
    REG - NINJA in Training
    it's your attitude, not your aptitude, that determines your altitude - zig zigler
    #3308504
    Ninja Albert
    Participant

    Thank you but the mock exam was nothing like exam day SIMS,
    regarding the Rev, compilation I would just listen to sparring and understand memorizing may not be so efficient.

    for example we know that a regular AUD must be independent so any time we give an opinion we must be independent which then follows examination, rev, AUP and rev for SARRS but NOT in prep and compilation.

    I believe if you understand want need to memorize so watch those sparring if you have the time.

    #3308507
    Ninja Albert
    Participant

    Thank you but the mock exam was nothing like exam day SIMS,
    regarding the Rev, compilation I would just listen to sparring and understand memorizing may not be so efficient.

    for example we know that a regular AUD must be independent so any time we give an opinion we must be independent which then follows examination, rev, AUP and rev for SARRS but NOT in prep and compilation.

    I believe if you understand want need to memorize so watch those sparring if you have the time.

    #3308534
    takai.jin
    Participant

    I think you're on the right track–MCQs has saved me a ton of time. I've read the book nearly cover to cover, but without a guide to answer the “why” something is some way as opposed to another makes retaining the information difficult. The MCQs could aid in both retention and understanding because it paints the question or gives it context. My main struggle is the “how” of learning, because I feel as though I require a complete understanding of something before I make progress on other subjects, but that's often not feasible due to time constraints. Recently, I've been using concept mapping to recognize important terms and determine their proximity or boundaries so the information becomes more “readable.” My working memory is rather poor and I spend a lot of time just trying to figure out what they're asking, but I've since accepted all of this business content as learning a language. In other words: use it or lose it, find ways to relate it to oneself or compare it to other topics, and explain its relevance or lack thereof. I can memorize a list more easily than I can explain how all of its components work together–the latter is the part which I try to give the most recognition. If there's a better alternative or theory, I'd love to know about it. I can't help thinking that being engrossed in the subject matter and practicing is really the only way to understand it.

    AUD - 64
    BEC - 67
    FAR - 82
    REG - 66
    That which neither hungers nor craves is beauty defined.
    #3308561
    Ninja Albert
    Participant

    Any tips on the following, I have cleared FAR a while ago and need some topics refreshed for AUD exam any thing any one thinks I should go over to help me go through those SIMS that ask about Financial Statement adjustment like net income ect…?

    thanks

    #3308582
    alexandra
    Participant

    haha i'm the same way! I need to full understand something before i can retain it. I think that's because i have a horrible memory so i just need to understand something in order to excel.

    a tip i used in grad school: try to teach someone. if you don't have someone who will listen to the mundane topic of audit (ha) then maybe just summarize the section/topic out loud in your own words. saying it out loud shows you where you're getting tripped up or not understanding full circle.

    AUD - 66
    BEC - NINJA in Training
    FAR - 77
    REG - NINJA in Training
    it's your attitude, not your aptitude, that determines your altitude - zig zigler
    #3308588
    shaya.wikler
    Participant

    I followed Jeff and went for UWorld. It turns out it was an awesome choice. I'm 4/4!! Thanks Jeff!! Roger Philipp teaches the course in a style known as the Roger Method. This is a style that will keep you from dozing off during the lectures. Additionally Roger’s personality and visual teaching will help you get through many hours of difficult concepts. Good luck!

    CPA
    #3308615
    takai.jin
    Participant

    @Ninja Albert, #330861 Do you mean adjustments as they relate to the assertions and such? I think if you have to cover FAR a bit, going through the cash flow statement is a rather comprehensive exercise and can be a good reminder as to how all the various accounts flow together or alongside one another, and how changes to them effect financial ratios and other metrics. Reconciliation can help you think about the difference between cash and non-cash transactions, deferrals, accruals, etc., while circumstances involving opening and closing balances may be helpful in thinking about cut-off and reporting periods in general; perhaps you can trace/vouch for various transactions/balances also? Just my 2 cents, I haven't passed AUD yet, good luck!

    AUD - 64
    BEC - 67
    FAR - 82
    REG - 66
    That which neither hungers nor craves is beauty defined.
    #3308618
    mvp2885
    Participant

    Any tips for AUD? I take AUD in 4 days, first time. Haven't taken a mock.

    Mel
    #3308621
    Ninja Albert
    Participant

    @takai.jin thank you for your reply, yes if you have taken AUD recently you know exactly what I mean I cleared FAR but you know things get forgotten. Im testing on this Monday and plan on doing what you said by just going over B/S and the overall FS flow.

    Thank you for tips good luck on your journey

    #3308642
    takai.jin
    Participant

    @MVP2885, #3308618 Heya! Good luck and I hope you succeed. I only used Ninja to pass FAR (albeit, took 2 tries) and haven't tried a mock exam, I only did MCQ's and sims, and read a lot. I looked through the Ninja Notes to find gaps in my knowledge and other unfamiliar terms and that was rather helpful, especially in the days leading up to an exam. Otherwise, the assertions, substantive procedures, determining RMM and inherent/detective risk/control risk (various relationships), sampling techniques/methods, the contents of the engagement letter, non-issuer v. issuers, AICPA code of conduct, objectivity, impairments and safeguards, covered members–those come to mind. I believe the fundamentals are a good place to start reviewing things, then you could add your own layers to it and branch out as far as you can and determine your strengths/weaknesses and work them out. In the last few days, I also looked at areas of the MCQs that I thought needed work (below 70 ~ 75% depending on content/questions, some sections have way more than others and I considered them more). From there, you could sort of audit yourself and determine what content you are missing out on, if any, and maybe try to make some headway there. The Ninja Notes can be used as a roadmap and compared to your MCQ metrics as well as the form and content of the exam itself (% of questions per topic). I noticed someone's signature that said they passed AUD after studying for 85 hours. I'm inspired to do something similar, definitely won't be giving up after this next attempt regardless. Cheers!

    AUD - 64
    BEC - 67
    FAR - 82
    REG - 66
    That which neither hungers nor craves is beauty defined.
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