[Soproudofmyself]

My Aud exam is in a few days and I dont know what to focus my attention on. My biggest concern is simulations. Which reports are more likely to be tested on Simulations? When I took FAR becker always told us to memorize the income statement, but with Aud, they don’t really say….

Any thoughts? So many reports…..I’m afraid they will get too detailed and I haven’t been nailing all the details

[jeff]

You need to understand the various differences between the reports as far as wording and the placement of the different paragraphs. Memorize them? Noooo. Know the differences? Yes.

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

[rknight21]

since i cannot tell you what was on my exam i'll just say its essential to know the differences like jeff said with the reports… what word goes where. yes there are alot of reports and you do need to skim thru them all to get a general idea. SIM's are a make or break but at the same time there isnt much real sim practice you can get before an exam so i suggest you do MCQ's till your eyes bleed up until the exam. my exam was on a monday( the best and only time exams should be taken i believe) and all weekend i was wired in.

[WhyEvenTry]

Like Jeff said, you NEED to know the differences b/t the reports. Not word for word. If you are using Becker, they have great mnemonics to help you memorize the key areas. Try those out, they helped me. RAPMEAM – RAPMEAM!!!

BEC - 71, 74, 77 (Feb - 2011)
FAR - 73, 78 (Feb - 2011)
REG - 83 (Nov 2010)
AUD - 71, 84 (May 2011) - Done!! CPA licensed in TX (July 2011)

[Anonymous]

RAPMEAM!!

Become one with the reports. It's important to know the differences!

[Anonymous]

Memorize the Unqualified report. With the Qualified, Adverse, and Disclaimer reports, no need to memorize. Just know how each paragraph differs from the Unqualified. With the Compilation and Review reports, you need to memorize those but you'll see that there are some similarities between the two so it's not too hard.

And another thing you need to memorize….the ratios. Very important!

Good luck!

[kperrucci]

I agree with what everyone said. It is important you leave enough time for the SIMS. I was able to double check my answers to the AUD sims in the research twice and still had about an hour to spare. It might help to familiarize yourself with where the reports are int he research. I know there are word for word examples of actual compilation and review reports in the research, and I assume their are audit reports as well. good luck!

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Soproudofmyself]

Thanks guys! this is good input!! =) Any others would be greatly appreciated! It's easy to forget to review small areas like ratios….I'll put that on the list!

[Anonymous]

Know the Compilation and Review reports as well. They will most likely be tested.

[Author]

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