[mperez102204]

Hey All,

I am going to be retaking AUD soon and I have been doing a bit or research on questions that may or may not be seen for simulations. Basically a high level view of the past year or two. Now, I do not want to fail this test again, so I am going big or going home..

Is there any basic journal entries I should know?? I could only think of accruals, which means I am missing something..

Any ideas would be appreciated. Thank you!

[mckan514w]

I would say any entry / category where it would be probable for an auditor to find a material misstatement- such as payable and receivables, inventory, securities / investments. Basically know how things should be recorded initially, when there are inflows and outflows and what adjustments would need to be made. For example you discover that 100,000 of inventory was never recorded- or payroll was overstated by 100,000 –

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[Author]

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