[samantha]

I take AUD in two weeks. It took me a few times to pass REG, so I am really hoping I can pass AUD on my first try. looking for any last minute advice!

I hear that AUD is a lot of memorization.. .What about for the SIMS? Do I waste time on “memorizing” the report letters?

ANY and all advice is welcome!!!

[Anonymous]

I would say know your transactions cycles, tests of controls, definitely know your reports and know how to do an adjusting entry. I would say if you haven't done a ton of SIMS, I would!

[M123]

I don't know about memorizing but what I liked to do was download real audited financials for organizations and read their auditor letters. Then try to understand the content and order of each paragraph. Have you taken FAR yet? Some topics as they apply to AUD can rear their head.

[samantha]

I have not taken FAR yet, which is what also makes me a little nervous for this exam. I have read a lot of people say that they had a lot of FAR related material on the AUD exam.

Should I waste my time on remembering formulas for financial ratios?

[Anonymous]

For AUD, they actually gave me formulas on the exam…So maybe not…. Yes, FAR related material is definitely a possibility-I had one SIM on the test which if I hadn't taken advanced accounting a year before that would have gone differently….

[mccarta7]

I am taking AUD in two weeks as well!
I had answered about 2,100 MCQ before I hit the two week marker so I've been focusing on my problem areas and the big topics.
Yesterday I re-read and took notes on transaction cycles and completed the related SIMS to get my head around the concepts in a different way.
Today I have been focusing on the different assertions and their related procedures. I did one set of SIMS related to these which included adjusting entries, which I haven't yet had to complete or think about in my MCQ studies and was super helpful.
For the next few days I plan to really focus in on the different areas of the reports and nail those concepts.
After that I will probably return to MCQ and if I notice any other weak areas I will take a half day or so each to focus in on those spots as well.

[samantha]

Yes, the transaction cycles are overwhelming! What was your study tactic behind studying those?

I need to dedicate a day to reviewing SIMS.

I've gone through my Becker book, lectures, and MCQ once. So far I have been revisiting each chapter and just doing MCQ and re-reading through certain parts of chapters.

[mccarta7]

@samantha For the transaction cycles I read through them each once or twice, then I studied the flow charts and make sure I could track the transaction through the flowchart, after that I rewrote out the transaction cycles by hand to solidify them in my mind. It's kind of a pain, but I find that I memorize better when I hand write things out.
I am feeling better about them, but I plan to review them every couple days just to keep them fresh between now and my exam. I will probably review them in depth again in the last few days before my exam since they seem to be heavily tested from what I have heard.
And like I said before the SIMS are great for refreshing yourself on adjusting entries. I have already taken FAR so I have a pretty good understanding of them, but the last thing I want is adjusting entries to throw me off on exam day. Seems like they can be easy points in the SIMS.

[samantha]

@mccarta7 thanks for the good advice. too bad we can't be study partners

[Author]

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