[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

[yankeeaccountant]

snick,

hang in there, remember Animal House? It ain't over till it's over !!! I think it sounds like you did well. Good luck!

value,

best of luck, hope to hear some good news from ya in September!

wecandothis,

drawing out transaction cycles?! I wouldn't know where to begin! best of luck with the rest of your studying. I am so pooped from studying. I sit on Tuesday and look forward to putting this behind me. I took a Final in Becker last night and got 73,70,60 so, I still have holes to fill in. seems like Govt Audit is up on my list today.

keep it up everybody! going to hit the library every day until exam day! happy studying .

[soontobeacpa2]

Hav2pass: Good luck for your exam and let us know how did it go….

[anonymous]

Me too Yankee! I'm traveling this weekend, so I recorded a bunch of notes to listen to while doing so. I have a whole section on Government auditing and a whole other section on international. (basically I just read the passage from Wiley) Hopefully We can brush up! ( I totally got a 20 on the Governmental sim in the audit final exam for Becker — oh well, governments have never been my thing.)

Good luck to everyone! stay safe this weekend!

REG -- October 3!!
FAR -- Pass
BEC -- Pass
AUD -- Pass

[Peanut]

Thanks Yankee! I just saw your post to me a couple days back (took a whole week off before I start AUD 10/01.) You gave me motivation! Sorry about the electric bill we just got ours too and it's ridiculous. You know what I thought was funny… I HAVE noticed those damn cereal boxes getting smaller and smaller… Grocery stores are always trying to gaff ya. Are you sitting for AUD the last day of the window? You guys should be clear of this storm in TN??

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[pnv5931]

Took Audit yesterday. The sims were just out of this world. The Gleim SIMS consisted of T/F and one liners which were totally useless. But from what I have read and heard, neither becker,roger,wiley or any other study material is good enough for sims/research yet. The sims format is too new and most of them haven't incorporated them into their material. So, we 2011 candidates are on our own.

I did most of the MCQ's twice and eventually kind of remembered the answer, so I got it correct even though I hadn't understood the material well. This fact came to bite me yesterday.

Now I will pray. But I feel god has so many other major problems to solve, why bother him?

[hav2pass]

Thanks soontobecpa!

I took AUD today and my exp wasn't great. From the first testlet I felt it was hard. I am sure I studied properly and wasn't just memorizing things. But overall there were more difficult Qs in the first one itself. Second was ok and third got harder. Some just seemed weird. It felt like why do they want to test this point.

Only 2 sims were easy…rest were very situational/judgemental. I kept changing answers and just wasn't sure. I have no clue on how I did on them and I am not going to research to find out now. Day was bad enough.

BEC 86 (expires Sept'11)
FAR 85
REG 87
AUD 8/27 - waiting

[soontobeacpa2]

hav2pass; sorry to hear those comments from you. I too felt the same way as you felt today…. for my last audit exam and missed by 1 point. May be you will be lucky enough to get 75+ score.becasue the way you prepared for your other exams … I think you prepared the same way in audit too. so dont worry every thing will be fine. forget about the exam and have fun.

my only concern right now is what do i have to learn to do good in simulation…..anyways my worries will continue till I am done with my exam. I will let you know how I did after coming from the exam.

[hav2pass]

Thanks soontobeacpa for the encouraging words. Good luck for your exam.

I am trying to think positive until the results come. I will not be surprised either way though. But I will know where I stand. Man 3 years of my and my family's sacrifices have mounted way up high to the wall. I feel bad more for them. They so badly wanted to hear some good news. My 5 yr old is so used to seeing me study, she automatically goes and sits on the sofa by herself. It is a kill joy to do CPA with family.

All of you out there young and starting out, after college or with jobs do it now. I wished I had taken it when I working and had no kid. If u think it is harder now it will only get harder and you will lose opportunities on the way too.

BEC 86 (expires Sept'11)
FAR 85
REG 87
AUD 8/27 - waiting

[Anonymous]

gl to all that have taken the exam thus far…

I will be retaking AUD in about 3 days and still feel somewhat unsure about a few things..

I had taken 3 exams in one testing window and was totally burnt out when I got to audit so I failed it badly with a 65.

here was my performance report.

my performance report for AUD was

Understanding the engagement (Stronger)

Understanding the entity (weaker)

procedures and evidence (weaker)

evaluation and reporting (weaker)

accounting and review services (Stronger)

professional responisbilities (Stronger)

also scored weaker on both MC's and simulations.

I've used rogers for lectures and mostly re watched some of the lectures again and have just been doing multiple choice questions with some sims mixed in mostly using Wiley. I also have the Gleim book and the becker material which I have used sparingly.

I'm using the Wiley CD and taking quizzes in batches of 25 q's/quiz

I seem to do good in Engagement planning, Accounting+Review , and professional Responsibilities averaging from the 80's and 90's.

but I'm still having trouble with Reporting,Evidence, and Internal Control averaging 60's and 70's . I have improved in reporting and I.C a bit but still struggling with Evidence.

apparently I'm still struggling in the same areas still.

would appreciate any help or encouragement, thx in adv and gl again.

[soontobeacpa2]

hav2pass: dont think I am saying it again but I am too worried to see my kids face if i dont make this time. Specially I am missing them like hell as they are with his dad in my country waiting for me to join their vacation. My 2yr and 4 yr old misses me a lot and every day call me and ask when I will be back (my elder is angry and warned me if I dot come soon he will stop talking to me)ahhhhhhhhhhhh i miss them so much…. that is the main reason I want to passt this exam so badly….its been such along time i started to study…….My onl concern like I said is TBS …… I dont know from where in the world they are getting those questions……I mean atleast people who work will have some idea…..but people like me who know only from books ….what about them….I hate audit

Bkkguru: I have in 3 days too… and my last chance before loosing all my 3 credits so working very hard on it. My instructer told me to focus on review compilations, attestation, ethics(independence in particular),IC, AP (spl in changes from one ur to another, JE, tick marks bank rec, unrecorded liab, sub events and opinions …… hope this will help you. but i hheard sim and personal exp TBS is giving very hard time to many of us ….. so be prepared to see surprises tooo good luckkkkk

[hav2pass]

@soontobeacpa : I know its hard to be without kids but they will ultimately benefit from it too later in life. So don't feel guilty too much and just focus on your exam. Most probably they r having a nice time over there. Prepare well how to choose from diff. auditing procedures (Gleim has some sims like that…I don't remember the chapters), ethics, anything sarbanes oxley PCAOB related, JEs, ratios and net income effect.

@bkkguru: In evidence what do u find tough? Give examples of areas u make mistakes.

BEC 86 (expires Sept'11)
FAR 85
REG 87
AUD 8/27 - waiting

[Anonymous]

thx for the reply guys…

@soontobeacpa: ya still have 3 days., if you've already passed 3 parts, you'll pass this one too. I guess at this point just go over your weak areas with mcq's while reading explanations and trying to understand the explanations. best of luck

@hav2pass : I'm really not sure which areas are bothering me, initially it was tracing/vouching and I seem to have finally understood it. I feel like I understand the topics in evidence and I.C but not to a full extent, it maybe just the fact that I misinterpret the questions wrong sometimes.

but from reviewing the wiley quizzes I've taken I think my problems are

managment rep letter,(this should be solved If I just memorize it)

attorney letter(this too)

subsequent events

debits/credits to var accounts

related party transactions

some of the mangment assertions.

[hav2pass]

@bkkguru.

managment rep letter,(this should be solved If I just memorize it) – May not need to memorize it. Just read a couple of times…it will start to make sense. Mgmt basically gives written representation for all assertions and their reponsibilities…gotten at end of audit….dated as of the date of auditors report…imp part of audit evidence but does not substitute for auditing procedures…if mgmt refuses to give this, scope limitation exists that basically precludes an unqualified opinion (these are the things I remember)

attorney letter(this too) – corroborates mgmt's assertions. mgmt is primary source. only for material items if materiality is understood by auditor and lawyer. letter gives corroboration for asserted and unasserted claims towards which they have given substantial attention or were hired to do. materiality and attention are not reasons for scope limitations. asked for mgmt's approach, direction of action, probability of loss, reasonable estimate.

subsequent events – I don't remember off-hand. This is little tricky. Writing down notes for this topic is helpful in understanding

debits/credits to var accounts – not sure how to help out here. sorry

related party transactions – adequate disclosure is imp concern for the auditor…identification of related party transaction…understanding the substance rather than form of contract….auditor cannot prove transaction was at arm's length

some of the mangment assertions – doing lots of MCQ and understanding the right answer and why all others were wrong was helpful for me.

For Audit evidence, cpareviewforfree has almost 100 Qs. I found some of their Qs very helpful (esp IC and subsequent events)

Good luck!

BEC 86 (expires Sept'11)
FAR 85
REG 87
AUD 8/27 - waiting

[Anonymous]

@have2pass: really appreciate the input… and began doing some of the cpareview4free questions already. thanks a bunch and best of luck you on the exam you have already taken. hoping we'll both be celebrating in a month or so. cheers

[yankeeaccountant]

Is it really Sunday already?!!! Didn't do well studying yesterday, only studied 50% of the time I had budgeted. But it was needed. My hubby was traveling on business all last week and was home for one day and leaves again today. So, we went to a football game with another couple. Laughed so hard-it was great. Time to get serious today. Going to do about 9 ish hours.

@pnv, the sims are really the wild card, not looking forward to it myself. I agree, the format is so new that there really is no good way to prepare for them. I love your line about god being too busy! Still, keep the faith, I am hoping for a pass for ya!

@hav2pass, I totally understand the family situation. My kids are older, but still have the same pressure to pass. It has been tough for them. I have 2 exams done, and taking 2 this window, Audit being my last on 8/30. I am really hoping I can say that it really is the very last one—for both of us. Best of luck.

@ the rest of us still studying for the last push—-FINISH STRONG!!! I am going to go over Govt (again !) ,evidence, and the standard audit report, and then spend some more time doing some sims. We can do it!! We gotta pass!

Good luck today!

[Author]

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