[Wannafree]

Hi AUD Gurus
I am having difficulties in remembering reporting on “Comparative FS” as so many permutation and combination are there e.g when Audited and upgraded or downgraded ,other accountants ,reissued not reissued ,updated not updated etc come on.
Anyone has some easy trick to memorize this riddle ?

[Anonymous]

I like to use mnemonics a lot and I work great with them. I am more effective to remember combined with the understanding of the concepts (of course).

But as far as comparative FS and answering MCQs just with the mnemonics but not understanding the different kinds of reports, nuhhhh, I don’t think so!

I read the chapter for that topic, wrote comprehensive notes, and made sure to get or envision the small and big pictures. You have to really know and understand the similarities and differences of all audit/financial reports to be able to compare them effectively.

I never had an audit background. So as to make my studying really effective with this section, I would imagine myself being an audit staff of a CPA firm or maybe a staff accountant of a company under different scenarios.

Good luck!

Comparative FS (PY-Prior Yr.; CY-Current Yr.)

[Author]

Replies