[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

[stokey45]

Well Guys, I purchased the Ninja Notes and Ninja Audio. I will go back and review the Becker CPA Review Book again. I am trying to follow the Ninja study planner with a few alterations. I have off Mondays and Fridays so I will pick up more study hours on those days. I will give it a try. I started yesterday re-listening to the lectures and will continue today. I work tomorrow and am planning on getting up at 4:30am to study for an hour before I get ready for work. I also am planning to go to the library right after work to study for approx 2.5 hours. Studying during lunch may not be productive for me by the time I eat, set up my computer, etc. I am not sure how much “good” studying I will be able to do. And knowing that I have off Mondays and Fridays during the summer I can pick up the extra study hours then. I will keep you informed on how it is going. I appreciate any and all words of wisdom and encouragement any of you have to offer. Thanks

[kwonp702]

Hey All,

I just passed May audit exam with a 95. (passing makes all the pain dissappear) I credit my passing to this forum so i wanted to share my experience and study plan to those who are planning to take it soon.

I ordered the complete yaeger package for all 4 parts in addition to the CRAM courses and audio series. I studied for about 2.5 months 3-4 hours a day and repeatedly listened to the audio series anytime I was in my car. I'm fairly new to the audit arena because I never worked for audit firm and don't have coursework related to audit either (i'm an econ major) I'm an assistant controller for a nonpublic company and so I have some exposure to a yearly financial audit.

I started using the Yaeger audit lectures, but i couldn't follow anything and got impatient so I just started reading the Wiley book by myself. (I think it was because Bulmash's teaching style was for people with some audit knowledge/experience and I didn't like the way he went through the multiple choice questions) I outlined the chapters and then reoutlined the chapters concisely and in the way that my brain made sense of the topics and could memorize the principles and definitions. I did get a lot of good points from the Bulmash's audio series which recommended memorized the standard audit, review and compilatin report word for word. (its worth memorizing in my opinion)

I created blank MCQ and SIMs answer spreadsheets for each chapter and did the muliple choice about 5 times each. I kept my answers sheets and marked the ones that I consistetnly got incorrect and learned them until i got about a 95% MCQ's. To break it up and prevent myself from memorizing the questions and answers, i used the Wiley testbank when I felt that I was memorizing the answers. I probably did the MCQ 2 times, then the Wiley tests bank 2 times uses the custom study mode, and then the MCQ's another 2 or 3 times. I read in this forum to focus on the MCQ's so I did until i dominated them. I headed to the SIMs a week before the exam and I'm so glad that I did. SIMs were very different from the MCQ's and tested different subject areas that the MCQ's didn't so practicing the SIM's is a must. For research question, knowing the basic structure and general outline of AU, AT). If you can't find the answer to the research questions, I had to manually look for answers using the outlines provided for AU and AT when I coudn't find the answer using the search function (this takes a lot of time so it may be a last resort) Basic Formulas are provided to you in the SIM's and I would recommened practicing how ratio's increase or decrease when a variable in the numberator and/or denominator changes. I also read in this form to use the research function to search for and double check SIM's which is also a huge resource to validate and search for answers.

I really got a lot of good tips from this forum so I just wanted to share like the others.

I was so happy to have passed. My score might say that I overstudied and put too much time/effort into this prepping for AUD, I was shocked because leaving the exam I felt like i may have gotten a 70-80%. My real motivation is to not take an exam over again. I'm taking BEC in Aug which I am not looking forward too.

FAR - 82
AUD - 95
BEC - 85
REG - 85

[lateralus ag]

“its worth memorizing in my opinion”

While I didn't do as well as kwonp702, I totally disagree with this. It's a waste of time. You don't need a 95, you need a 75. Memorizing these reports is completely unnecessary. I didn't even READ all of the reports.

If you want to impress the state board with your scores, memorize the reports. If you want to pass, don't memorize the reports.

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

[littlenumberrobot]

@Stokey45 I just made the same plan! Except I have Roger review course. Good luck!

CA CPA - All because of the journey listed below
-----------------------------------------------------------------------
FAR - 53('10), 8/25/12 79 PASSED!
REG - 66('11), 69('12), 12/06/12 77 PASSED!!
BEC - 58('10), 74('12), 01/05/13 77 PASSED!!!
AUD - 43('11), 66('12), 69('13), 74('13) 7/29/13 85 PASSED!!!!!

(Combinations of Roger, Yaeger, Wiley Book, Wiley TB, & NINJA Notes)

Ethics 90%

[Anonymous]

Please advise what the correct answer . I am confused

Of the following statements about internal control, which one is not valid?

A. Transactions must be properly authorized before such transactions are processed.

B. Because of the cost/benefit relationship, a client may apply controls on a test basis.

C. No one person should be responsible for the custodial responsibility and the recording responsibility for an asset.

D. Controls reasonably ensure that collusion among employees cannot occur.

[Anonymous]

@Nam – I'm going to say D. Collusion among employees is one of the greatest threats to internal control, and it can't really be prevented even with the best controls.

[Anonymous]

@apbandj : I thought the purpose of Internal control is that collusion among employee should not occur, but you are correct D -is the right answer.

Thanks for the explanation, it does make sense.

[TranCPA2012]

@Nam Collusion is part of inherent risk, something that cannot be controlled. Management override is also something I can think of that is part of inherent risk not to be detected by internal controls. It is different from control risk.

FAR 4/30/12 - 86
AUD 5/30/12 - 94
REG 7/2/12 - 92
BEC 7/31/12 - ?

[Anonymous]

Here's an example…

A customer mails a check to a business and the mail is opened by Employee A. They record it in the cash receipts journal which is then given to Employee B in the accounting department to post to the accounting records. This is a great internal control procedure, but if Employee A and B work together they can override the control procedures and post the check to the wrong account.

[Anonymous]

This explanation has made by understanding much stronger. I am sure when I am soving Internal control MCQ , now lots of questions make sense to me. There is no way I can get this question qrong now!

Thanks so much! I really appreciate it!

[When-will-it-end]

Hello to All,

I am excited to have passed the AUD exam at 78 points. After coming out of the exam, I was feeling OK about the exam. However, several things happened the same day and after reading various posts, I had mixed feelings about my performance in this exam. I am glad it is over so I can move on to FAR.

I am very impressed at the scores some of you receive. I would like to thank everyone for their input; specifically, I'd like to thank those that posted their methods of study. It motivates me to study harder and focus more.

Thanks again!

A-66, Thank God it's a 78;
B-69, 73;
F-44, 64, 08/2012;
R-74, 80

[When-will-it-end]

Hello to All,

I am excited to have passed the AUD exam at 78 points. After coming out of the exam, I was feeling OK about the exam. However, several things happened the same day and after reading various posts, I had mixed feelings about my performance in this exam. I am glad it is over so I can move on to FAR.

I am very impressed at the scores some of you receive. I would like to thank everyone for their input; specifically, I'd like to thank those that posted their methods of study. It motivates me to study harder and focus more.

Thanks again!

A-66, Thank God it's a 78;
B-69, 73;
F-44, 64, 08/2012;
R-74, 80

[Anonymous]

I have the Wiley book. Has anyone used the Wiley nook or ipad apps? How good are they? Do they include SIMS? I guess Wiley now has an online access rather than the CD? Which is better, the online access or the app?

[momof4]

I am taking AUD in July and I feel prepared but that exam can be so tricky. I wish they would do away with the blackout months.

Has anyone passed with Becker and can comment on how their Becker homework scores compared ultimately with the AUD exam score?

BEC 84
FAR 80
AUD 85
REG 78

[occams_razor]

Hey everyone, Just hit A4 in Becker and I'm ready to sell my becker stuff… Caveat Emptor (buyer beware) it will be firmly embedded in the drywall within the hour. These stupid transaction cycles are stealing my sanity with every question.

Currently this question is:

2007 AICPA Newly Released Questions – Auditing19

19. CPA-05483

An auditor's principal objective in analyzing repairs and maintenance expense accounts is to:

a. Determine that all obsolete plant and equipment assets were written off before the year-end.

b. Verify that all recorded plant and equipment assets actually exist.

c. Discover expenditures that were expensed but should have been capitalized.

d. Identify plant and equipment assets that cannot be repaired and should be written off

the correct answer is C, but here's my issue: I was told that as an auditor you would want to look for any area where the client is understating the expenses or liabilities and overstating the assets or revenues. Answer C is saying that instead of capitalizing the account (i.e. increasing the amount of assets by additions to the PPE) the client expensed the transaction, thereby overstating the expenses… Obviously as an auditor I would want to fix the problem no matter what but it doesn't seem to follow the same logic as with the rest of the transaction cycle questions as well as the material itself.

The other theme that seems to be popping up is my confusion of whether the question is Completeness or Existence (tracing or vouching) or a part of a transaction cycle itself. I'm in the mindset that they are all related but they doesn't seem to be helping answer questions correctly lol. I'm close, I keeping narrowing it down to 1 right and 1 wrong answer but for whatever reason I defy all laws of mathematics and probability and continue to pick the wrong answer lol. Any help here would be greatly appreciated!

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!!!

[Author]

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