[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

[greenli2]

Thanks everyone! Im going to keep writing my flash cards, but turn my focus on the Becker flash cards and questions.

BEC - 2/13 - 87
Audit - 4-16 - 99
Reg - 5-29 - 94
Far- 8-13 - 97

I use becker self-study, final review, flash cards, wiley test bank, and I make my own flash cards using studyblue.com

[jeff]

If you don't want to write your own flashcards or your time is better spent doing other things – check out the NINJA Flashcards: https://www.another71.com/products-page/ninja-flashcards/

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

[jshleif21]

So I didn't come on here for the last week due to complete and utter frustration. I received my score of 69 on my most recent AUD section. The first time I took this section was 2 years ago and I got a 71. I prepared 10000000000% more than I did the last time. I nailed the multiple choice questions, and this was confirmed with the mailing I just received fromCPA Exam services, the one were they break down your perofrmance. I was either stronger or comparable in every categor besides the simulation. So I am open to all suggestions on how to succeed on the simulations. I obviously know the information but have extremely limited practical application of the material. i also feel that the simulations have absolutely nothing to do with auditing. I work at a very large public accounting firm and have worked on internal audit functions and when we do our remediation we do not touch debits/credits, income statements or revenue. Auditing is so huge and can encompass anything and everything, how the heck am I supposed to beat the si mulations. PLEASE HELP!!

[Anonymous]

@jshleif – question for you – are you utilizing the research tab for all the SIMS and not just the research one?

[jshleif21]

@apbandj

yeah I did where applicable. My problem tends to be with the practical application. One simulation asked how events affected revenue or something along those lines. There are some situations when the research tab is useless. I definitely try using it and no that I nailed two of the testlets in the simulation because I found the answers in the research tab. To be completely honest with you, I am shocked that I did not pass this time. I knew that I nailed the MC and at least 3 out of 7 testlets in the simulation. I thought for sure I would get parts of the other testlets in the simulation right, just enough to get at least a 75.

[Anonymous]

Gotcha. I'm glad you used the Research tab, and I'm shocked at the number of people who post here that didn't use it and didn't pass by a few points 🙂

I wish I could help you, but I don't really have much advice. I think I probably had the same SIM you were talking about and doing J/E's helped me. You also have to keep straight what's on the balance sheet and what's on the income statement. Collecting a receivable or disbursing a payable only affects the balance sheet. But accruing too much expense or too little affects both the BS and IS. Out of the 7 SIMS, I had 1 Research, 3 I used the Research tab to help me answer and 3 I had to logically think through.

[jshleif21]

Yeah I am going to just spend some time studying the financial statements and what are on them and what impacts each one.

Thank you apbandj for your help.

[hopeful_cpa]

please explain how somebody is supposed to approach this question.

~~~~

The AICPA allows an auditor to perform which of the following services for an audit client?

a. performance of bookkeeping services for the client

b. preparation of client source documents

c. preparation and posting of journal entries without the client's approval

d. authorization of transactions for the client

explanation: The SEC requirements make clear that performing bookkeeping services impairs audit independence; this is allowed under AICPA rules (thereby, only for nonpublic clients).

~~~~

Thanks in advance.

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

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

[lateralus ag]

I have seen a lot on this forum where people are having a lot of trouble on the AUD section because of the SIMS. I have passed FAR and REG (both the first time, both with decent scores, 88 and 89 respectively). I am using Becker Self Study. Should I use a different approach for AUD or use the same approach I did for the other two sections?

thanks, been observing on this board for a while but just now decided to ask a question.

FAR 88
REG 89
AUD 89
BEC 86
DONE!!!
Using Becker Review and Becker Final Review, and Ninja Audio for BEC

[lateralus ag]

Hopeful,

I would approach that question from the perspective that the examiners look like they are trying to determine if you know the difference between the AICPA standards and the SEC regulations. All the other choices are not allowed by the AICPA – c and d should be thrown out immediately, there is no time that this would be appropriate given the situation. That leaves possible b and a. B makes no sense if you think about it. If you are the auditor and you are preparing the source documents that are going to be used in the audit process and you as the auditor have prepared those statements, you have to see that there is an obvious independence issue as well as an objectivity issue….

That leaves a as the correct choice. If you were diligent enough to study the AICPA standards (who has this kind of time?) you could have answered the question without the process of elimination. But like I said, who has that kind of time. That's my two cents…..for whatever that's worth. I haven't taken AUD yet, so maybe my reasoning is flawed.

FAR 88
REG 89
AUD 89
BEC 86
DONE!!!
Using Becker Review and Becker Final Review, and Ninja Audio for BEC

[hopeful_cpa]

@lateralus

you're right… i need to use the elimination process more… i got a 74 on aud last window, so this time i'm super anal about everything, dont want to over look anything if i dont have to.

thanks for your input.

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

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

[Anonymous]

Ok! 3 exams scheduled this coming window. Time to do this.

[hopeful_cpa]

@cash

make it happen!!

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

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

[wickedrentlover]

Okay. I need some motivation/encouragement/comfort right now. I'm using Becker and I've literally spent all day on the homework for A4, on Audit Evidence. I keep getting the questions wrong. Even the ones I've answered multiple times and have seen the answers to. For some reason I'm not grasping the concepts at all. I'm beginning (ha, it started a long time ago) to freak out and think I'm not going to come close to passing based on how badly I'm doing in the homework. Does anyone have any advice?? Please?? I've been crying all day because of this 🙁

REG (2/24/12) - 89
AUD (4/5/12) - 89
FAR (5/31/12) - 91
BEC (7/7/12) - 84

[Zaitouni]

Hey Everyone,

I am preparing for the auditing exam. while, I am studying I notice that an auditor would issue an “unqualified opinion” when the auditor believes that the statements are sound. So, why do we call it “unqualified opinion”? According to the free dictionary unqualified means: lacking the proper or required qualifications.

So, do we use this word in referring to a sound opinion????

[Author]

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