[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

[rubie145]

I actually like audit even though i failed lmao…..seriously though i think actually performing audits is what i want to do but real world an book are different!!

REG 10/01/2011- failed retake hopefully May 2012
AUD 11/30/2011- failed retake 1/9/2012
BEC 2/25/2012 -
FAR-TBD

[RedRage00]

Rubie,

What was your study schedule like?

Texas CPA
Licensed, March 2012

[rubie145]

For Audit I had less than 30 days to study so I did alot of multiple choice….but I think honestly that helped me but hurt me as the same time!!! I think i started memorizing answers instead of fully understanding the information!!! I used wiley which i wont bash but this time around I am using lamber test software (which comes with pdfs that I have printed and am currently condensing into my own notes) and i have ordered becker final review to give me a brush over main topics!!! I can honesty say dont skim over anything…you never know whats on your test and make sure your getting a full understanding of the material!!! My pdfs for Lambers as I read give so many of the answers I know I was questioned about on my exam!!! Not blaming wiley because I know i needed to study more but Lambers information is way more indepth on some important topics and I think that is key for me!!! My schedule right now is 1hr study in morning ( hate gettin up an hr earlier but passing will be worth it) work, 1hr at lunch and 1hr at end of work day (stay an extra hr at work already in a concentrating mood why break it) then work out and home to shower and eat and read a chapter of notes and then 2 sets of 20 MCQ!!! SO i think in all im getting atleast 4 1/2 to 5hrs a day!!! HOPEFULLY this works!! HBU???

REG 10/01/2011- failed retake hopefully May 2012
AUD 11/30/2011- failed retake 1/9/2012
BEC 2/25/2012 -
FAR-TBD

[Anonymous]

CPA examdad – OLE_WILLBE_CPA2: Thanks for the info. I have not had time to do anything yet. Between my husband's 3 weeks oversea, kids and Christmas stuff, I am not thinking about Ethics till next year 🙂

How old is your son? Mine is 6 and in first grade, he started full day school last September so I do have a good break from him LOL (if he is home and 2 of them together, I want to flee to Jamaica sometimes). I have another daughter who is 3 and stays home with me. We have not sent her to daycare yet since she is pretty happy with Dora and Sponge Bob LOL.

[RedRage00]

I'm just doing non stop MCQs in Wiley. That is how I learn best, and so far I'm 3 for 3 utilizing this study method. I read the explanations given after I answer each for why an answer is right and why the others are wrong. It seems to be working so far.

I put in 5 hours of study time today.

Texas CPA
Licensed, March 2012

[rubie145]

I did that the first time around with audit and for me it didnt work so now im using lamber to take extensive notes and the last two weeks before my exam Im going to try becker final review MCQ, lambers MCQ and if I have time I will go over Wiley MCQ (this last since I previously used it and dont want to memorize) Im hoping this works I feel I have a better understanding on alot of information so thats a plus so far!! Good luck….im taking my test the day after you so I will be keeping in touch!!

REG 10/01/2011- failed retake hopefully May 2012
AUD 11/30/2011- failed retake 1/9/2012
BEC 2/25/2012 -
FAR-TBD

[hopeful_cpa]

i do the same thing, but i got slaughtered on the sim's in aud…. i dont even know how to study for the sims. i have reg 1/3 and am planning aud again 2 weeks later, then hitting it hard for far at the end of feb.

i was thinking, during a type 1 or type 2 subsequent event, do we need to know which financial statement the event effects at all? if so, how do we figure that out?

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[RedRage00]

hopeful_cpa….what was your score on AUD if you don't mind me asking?

Texas CPA
Licensed, March 2012

[yankeeaccountant]

@hopeful_cpa

the sims did me in too. don't know how to prepare for them. funny, with BEC and FAR I never studied the sims per the advice of people on the forum and I passed both. But the sims are killing me on REG and AUD–and I studied them!! Grrrr. My score report shows stronger in mcq's (all stronger or comparable in each section) but weaker in sims. Looks like you are going to have a busy time in early 2012! Go get 'em!

In regards to your question, a Type 1 event would be recognized, so to recognize the event you would debit Estimated Loss (or something like that) and a credit to a Contingent Liability (Reserve for Loss) account. This would affect the balance sheet and the income statements. The Type 2 event occurred after the balance sheet date, so no entry is required, but a disclosure of the event would be appropriate. Hope that helps!!

[Anonymous]

@yankeeaccountant- i am in the same boat the sims completely screwed me over this time as well… aah !! well i guss its back to Wiley and Becker for the holiday season agian –

Just a quick question – can anyone tell me if the material is changing for 2012 AUD – i have both Becker 2011 and Wiley 2011 with 2011 updates

[hawkmante]

Hi.. Im joining the AUD fun.. Last exam to be done. MUST>>>PASSS>>> EXAMMM

BEC - 81 11/30/11 Praise God
FAR - 84 7/11/11
AUD -70,64,72, IM DONE!! 90 7/5/12
REG - 84 10/07/11

[RedRage00]

Hawk, you had really high scores on your other exams….what happened with AUD?

Texas CPA
Licensed, March 2012

[RedRage00]

Is 2012 AUD still 4 hours long, 90 MCQs and 7 TBS?

Texas CPA
Licensed, March 2012

[hopeful_cpa]

@redrage

i got a 69 on it, same exact score with reg also. i passed reg the first time with an 80, same score on BEC also… kind of a strange trend.

@yankee

yea, that helps a lot, thanks for the help.

its official, 1/19 i jump back in with the lion… the only problem is i love cats but i want this one to die =(

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[yankeeaccountant]

@RedRage

You got it. 4 hours of **** haha. 90 mcq's and 7 tbs. Last exam…woohoo!

@canson

Me too! Hanging with WIley and Becker! Did you see the threads on the changes (or lack thereof) on the 2012 exam? Also there was a thread with info on Becker's updates.

@hopeful_cpa

let's get Audit off our backs!!!! Happy Holiday to you and yours!

@hawkmante

Good luck to you

---

cross that finish line!

~~~~~~~~~

Merry Christmas to everybody out there studying over the holiday, it sucks to have to spend time with our books, but in the end it will be time well spent. 🙂

[Author]

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