[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[ty58527]

I am using the Wiley Books for study materials so I can't comment specifically on Becker. However, I have found that thinking of the assertions (completeness, existence, valuation and allocation, presentations and disclosure, and classification) when dealing with those problems helps me. If you can figure out what assertion they are asking for it usually answers the question or helps at least gain a better understanding of why the procedure is run.

AUD - 93
BEC - 85
REG - 89
FAR - 86

I am DONE!!!!!!

[momof4]

I had AUD today. Glad it is over. I wish you could walk away with confidence one way or the other. The waiting game begins. I tried to be extra cautious which resulted in me not having time to use the authoritative literature to help with he SIMs. Fingers crossed and on to the next one.

BEC 84
FAR 80
AUD 85
REG 78

[Roma]

occams_razor,

I found it very helpful to think of every cycle with general rules ….. instead of memorizing every type of transaction, focus on which direction you are testing (source document versus recognition in some g/l account) …. and what a discrepancy might indicate. Sort this out from the question before you look at answers.

1. If you are going from the low level source document ( EG – a shipper or bill of lading) to invoice register (or sales in the G/L), you are testing completeness on sales. The same would be from going to a receipt of inventory to vouchers in A/P. This tests for understatements in sales or A/P.

2. If you are going from the sales summary or invoice register BACK to the source shipper or bill of lading, you are testing existence. Same would be going from the voucher back to a receipt. This identifies overstatements in sales & A/P in these 2 examples.

3. Assets – you are always looking for rights (do you own?). Liabilities – are these true obligations?

4. Valuation – most every transaction or account has this as an assertion. Most are obvious (e.g customer purchase order should agree to sales invoice prices, company purchase order costs should match expense/vouchers, etc.). Some of the trickier ones are on the use of ratios such as: A) An decrease in inventory turns can indicate excess inventory, B) a decrease in A/R turns can indicate unrecognized bad debts, C) much longer time to pay A/P might indicate financial difficulties, etc.

Hope this helps a bit. Good luck on the 11th !

Using Wiley
FAR = 94 Feb 2012
BEC = 92 April 2012
AUD = 95 July 2012
REG = 91 Nov 2012

[occams_razor]

Roma

Thank you so much. I think I was trying to take each procedure and assertion by itself and I realized that was just dumb. There are are 3 classes of assertions, Account Balances, Transactions and Disclosures all with different assertions in them if i were to memorize all 91 procedures as they pertain to each individual part, I'd end up getting every question right on audit procedures by transactions and failing the rest of the test.

Thank you for your tip, it makes a lot of sense when it's broken down like that!

Thanks for the well wishes!

AUD - 79!
REG - (67,69-without NINJA and Wiley Test Bank) 84!(with NINJA and Wiley Test Bank)
FAR - 75!
BEC - 83!
Every test I passed, I used Ninja Notes. Couldn't have done it without them!
I am done!!!

[stokey45]

For those of you who recently took the AUD exam —- has anyone come across a SIM that was very similar to one in the review material? I understand we cannot talk about the specifics but I was just curious.

I can say that I have taken AUD 3x before and have NOT run across seeing a similar SIM to any of my review material.

What made me think of this is that I am doing all if the AUD SIMs in the Becker Review material and one of the SIMs asks for specific information about the company's internal control component. I have the general knowledge of the CRIME mnemonic, but this was asking for more detailed knowledge and I am thinking of writing it out and attaching it to my never-ending notes. Any thoughts?

[Anonymous]

Internal Controls? Umm i dint get one lol

[stokey45]

@Nam —

I was thinking about you. Do you think the AUD exam went better this time? I hope so. Good Luck.

[Anonymous]

@stockey45

Hey,

Awww How was your exam? I pray that you nail this exam. I will be looking forward to your result post around 08/03/12. LOL coz I will be there too.

Umm I am not too sure what to say? I mean even if we do stronger in MCQ & Weaker in Simulations. There is high probability of failing with 72-74.I m just so nervous, I m trying to be positive and have started preparing myself for Regulation.

So here you go.

Testlet1: I was kind of satisfied as soon I finished Testlet 1, I think I marked 4 or 5 . I made some educative guesses in other but I was confident.

Testlet 2 – I could’nt tell whether it was hard or medium hard. So I didn’t loose heart because I was really expecting something really tough (You know how It is to scale your performance LOL) > there were a few questions, which were bit challenging but nothing dramatic. LOL. Overall, I think testlet 2 was not that bad either.

Testlet 3: I was again expecting hard question but nevertheless Testelt 3 was ok ok . (No complains)

So overall, I think I did ok in MCQ compare to last time where I made lots of guesses. But last time also, I got comparative in MCQ with 62!!! LOL it’s hurts. So not sure!!

Testlet 4: So this is the deciding factor for your score – I got 2 research sims , which were ok . I don’t know how much weightage they have in score? (1 point or 2 points ?? ) There was one simulation, I did better in that simulation but I am having great intuition that it was the pretest one. I remember I spent around 25 minutes in that simulation (My Bad). Other 4, I spend less time and I started panicking L . I wish I was calmer then I would have done much better. I did one silly mistake in one simulation, which is going to cost me a few points. So I am praying hard and being positive.

[momto5]

So you didn't have a “SIMS were horrible” type of feeling? Seems like I see that comment a lot. Sure hope I get some doable ones.

FAR - 92 (4/27/12)
AUD - 96 (7/17/12)
BEC - 92 (8/30/12)
REG - 91 (11/12/12)

[fnj_84]

Hi, I just started with A1, and the wordiness of audit is overwhelming compared to FAR. Does anyone have tips to memorize the order of the paragraphs and which opinion to provide (given the circumstances)? After a dismal showdown with FAR, I believe I need to retweak my CPA studying habits. Thanks and good luck on your studies as well!

[KEMcpa]

Today is the DAY! Hopefully, I am taking my last CPA exam this afternoon. I have put forth my best effort to study these last few weeks. There have been times I didn't study when I should have and I definitely do not feel like I KNOW it all. Hopefully, I know enough to pass. Think I will scan through the review book again and maybe work a few MCQ this morning. But mostly, I hope to calm my anxious nerves prior to the exam and simply focus on doing my best. More than anything I need to remain calm and focused during the test. Good luck to everyone testing today!

Licensed Texas CPA!

[stokey45]

@ Nam —

I haven't taken my AUD exam in this testing window yet. I am thinking about the 23rd or after. I will have to schedule by tomorrow that is the deadline I have set. I have waited in the past and sometimes someone has rescheduled their exam and the day I want will open up but so far I have not been that lucky.

Right now I am doing all of the SIMs in the Becker Review. I have listened to all of the videos, taken notes, and completed all of the MCQs. After I finish the SIMs, I will review the notes again, set up some review tests in the Becker software and continue listening to the Ninja audio. Once that is complete I think I should be ready!

I will let you know when I take my exam how I felt I did as well.

Have a good one!

[Anonymous]

Got AUD on Wednesday. Still having trouble on IC regarding revenue and expenditure cycles. The mcq's and tbs's on detecting the error or fraud are difficult. They say its just separating authorization, recording, custody, and comparison…but wtf all the options are tough to choose.

Rest of the topics – professional standards, evidence, sampling, reporting, compilations, reviews etc. seem to be comfortable…for now.

[Path To CPA]

Hi everyone,

I just wanted to drop few encouraging words to inspire perseverance:

– Always keep your eyes on the final prize – CPA

– Transform your failures into success by learning from them and improving continuously.

– Remember that CPA exam is like a race and some of us will reach the finish line faster and some slower but at the end of the day it's reaching that line that matters the most.

– Do not be too envious and compare yourself to the people passing the exam with flying colors otherwise you'll lose your self-esteem and confidence. Keep in mind that each person has his/her own day and time to shine and be patient.

– Avoid finding excuse and blaming lack of time for your failures. Just stand up, scream very loud and say that you'll create or even invent time if you must.

Always remember that with CPA it's : “Fool me once, shame on CPA – fool me twice, shame on CPA – fool me for the third, fourth, fifth to the twentieth time, shame on CPA – I give up or I quit, shame on me”

Guys do never give up.

REG: 68, 75
AUD: 80
BEC: 77
FAR: 24, 67, 69, 72, 80 Thank you Lord!!!!

Finally Done! Perseverance is the key to success

NYS Licensed CPA - 2013

[Anonymous]

Hi all,

I am new to the 7 task based sims exam method. I am doing the Wiley test bank. I just took my first full practice exam and I noticed that the simulations don't give you any partial credit. If you miss one, you miss the whole question. As such, I failed the practice. Can someone tell me if this is how the real exam will also score?

Thanks,

CPApencil

[Author]

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