[alabe]

Does anyone know if there is a guided answer for the AICPA Audit Practice Exam SIMS anywhere?
Or if anyone could provide guidance on the inventory adjustment (SIM 2)?
Just wanted to review how to get the correct answer before my exam tomorrow.
Thank you!

[jenpen]

I've had good luck with Google'ing the question. There is typically an explanation within the forum somewhere.

AUD - 56 - 68 - 61 - 9/8/16
REG - 75
FAR - 7/15/16
BEC - TBD

Wiley CPAexcel and NINJA 10 Point Combo

[Recked]

I have a .xls file with notes from the SIM, but not sure which references SIM#2.
Post up the question and we can try to help.

[alabe]

It was the SIM relating to widgets and hex bolts, and you were required to calculate any adjustments to the perpetual inventory based on the documentation given.

[famh110]

Looking forward to seeing how those who have passed Auditing approached this question. I had trouble on that one too yesterday. Actually, I found the DRS very overwhelming as well. Luckily, I was able to find a detailed explanation for the DRS on YouTube. Search for Surgent Review and it's a walkthrough of a DRS. Very very helpful.

[Anonymous]

Any thoughts on whether the AICPA practice exams are of equivalent difficulty as the actual exams? I am finding the practice exam questions very straight forward and easy. After taking the FAR exam twice now I don't think the actual exam is as easy as the practice exams. Although, maybe I am just more prepared this time around and I am psyching myself out.

[Author]

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