[seattleacct]

I’ve seen a lot of posts regarding adjusting journal entries in sims and how they are FAR related, not AUD. While FAR focuses on more journal entries than AUD, they’re still necessary for AUD. I’m sure everyone’s audit study materials have something regarding journal entries.

As an auditor, you must be able to recommend journal entries to correct mistakes, especially with timing issues. If an entity recognizes material revenues or expenses in the wrong period, the financial statements will be misstated. In AUD, you need to see everything from the auditor’s perspective. In FAR, you need to see things from the company’s perspective.

Knowing your JEs is important for both.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Monkey Wrench]

You need to realize the purpose of auditing, and what you do in real life. You audit financial statements and you propose journal entries to get the financial statements to match the audited financial statements. With that being said, they can really give you any audited portion of anything and tell you to propose journal entries.

[Author]

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