[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

[BEACPA]

I'm using Becker. I'm wrapping up A1, with the simulation being the only thing left for A1. On average I'm completing 1 chapter per week, so for AUD, I expect to spend 6 weeks going through the material and having 2 weeks for review.

A successful strategy I used for FAR was to review as many MCQs as possible. I started with the MCQs that I marked for subsequent review, which in total was about 900. I marked MCQs that fell under the following categories:

– Tricky MCQs that I got right, but that I could easily get wrong by being careless.

– MCQs that I didn't understand very well.

– MCQs that I understood while it was fresh, but that I may forget in two weeks.

I did all of these within the two weeks I had to review. I unmarked several MCQs as I reworked them (because I became more confident in my ability to answer them correctly), and then I continued working the MCQs for topics that gave me the most difficulty.

I also took my notes everywhere I went. It's amazing how much you can gain by reviewing your notes for 15 or 20 minutes while you're waiting for a client, friend, etc to meet you.

I'm sorry that I don't have much to offer now, since I'm only in A-1. However, I hope to provide better tips as I move forward.

I wish you the very best of luck!

FAR - 2/28/14 PASS Praise be to God!
AUD - 7/5/14 PASS Praise be to God!
BEC - 11/29/14PASS Praise be to God!
REG - 2/28/14 PASS Praise be to God!

[Quinacridone]

Review is going well. I did another progress test last night and got another 86% (closed book) (when I say progress test, I mean I do the progress test in chapter 6 so that I'm getting a random set of questions from each chapter; I don't like the final review tests). I will keep doing these – one test every night until test day. During my lunch hour or when I have a break from work, I do MCQs in whatever chapter I was weakest in (as indicated in the score report). This is what I did for Reg and Far and was able to pass both on my first tries.

Also, I have EVERY question in each chapter copied and pasted into tables that I have printed out (along with the answers) and put in a binder that goes with me everywhere. I normally pick 3-5 pages out of each chapter each night and do MCQs.

Any questions that I get wrong are put into another condensed table. All questions that I have missed throughout my study period and progress tests are in this table and are worked each night. Its a lot, but by the time I get to the test, my brain is saturated with them.

Also, all of the Sims are copied out of the webpage and printed. This weekend I will do all of them over and over (and also try to do as many of the Sims that I can find in the AICPA released materials).

I'm pretty sure I can pass this thing, but I hate that we have to wait until way into May to find out for sure.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Anonymous]

WOW thats a lot of work!! How many MCQS per progress test do you do? I noticed that progress tests repeats a lot of the questions again. Thats why I was thinking of reading all the HW instead of just doing some of the HW questions again n again.

[CPA50]

ARGH! 5 weeks to go and I'm tackling the SEVEN DEADLY SIMS!

Not doing well at 25% correct. Back to the drawing board. I read an older post here where someone advised to learn it well enough to teach it, so that's what my new focus is.

And, I'm trying the Pomodoro technique for my focus. 25 minutes intense study, 5 minute total break. after 4 sessions, 30 minute break. Gotta run – my timer just dinged.

AUD 88 (expired), 80 retake
FAR 64,69,67,73,67,73,73,73, August 3
REG 75 (expired) September 7
BEC 72, 77

The adventure continues...

[Quinacridone]

It does repeat a lot, but not all of them. I notice that between Sunday's test and last night's I had very few repeats. I haven't taken a test tonight yet. In FAR, repeats really weren't a problem.

Right now I'm just doing 60 MCQs. I can finish all 60 relatively quickly. That gives me enough time to go through the answers to see the ones I got right and wrong (I read all solutions). The whole process takes about an hour. Then I go back to the chapter MCQs for whatever section I did the worst in. As I said, it got me through my first 2 tests, so I'm hoping to continue the formula.

Did you get finished with chapter 6?

CPA50 – that's a good philosophy!

Here's an old Another 71 post that is a good read:

https://www.another71.com/cpa-exam-forum/topic/lets-play-the-aud-study-game

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Anonymous]

Yup just got done A6! Took me 2 -1/2 days! So now to embark upon my review. Really not sure how to do that though. Do you read the text at all or you r just doing the MQCs. I am conflicted on that. I also have the becker final review. I was thinking of reading that first, look at the ch outline and then doing all hw MCQs/Sims..not sure how long that would take me. I am thinking of scheduling 2 days per chapter. Maybe every nite I can do a 40 question progress test as well to retain all info fresh.

[Quinacridone]

I think this is your first test, right? You are going to find your own “best” way to review. I learn best by repeat. I also keep it varied: for example, I just finished doing my progress test – and this time it asked a lot of questions that I had not seen in the homework. My results indicated that I did the worst in A1 and A3. Rather than doing MCQs right away for those chapters, I'm going to go skim the highlights in each chapter in the book. Then I'll finish the night off with some MCQs.

My feeling is that if you are really really fluent with the MCQs then the Sims are just an extension of those (but you still need to practice SIMS, I just put a lot more emphasis on MCQs). Make sure to look up all of the AICPA released questions if you haven't done so already. Each year they retire a set of questions (sometimes they still keep using them). Its good practice.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Anonymous]

yup my first one! Really nervous.

Thanks. I ll look at the AICPA questions.

And I thought progress tests were all hw questions but just mixed up in random order. Good to know they have some unseen questions.

[CPA50]

Quinacridone – Thanks for the link to the previous discussion – very helpful!

ayafzal78 – I'm 11 days behind you and I'm terrified.

We're going to make it!!

AUD 88 (expired), 80 retake
FAR 64,69,67,73,67,73,73,73, August 3
REG 75 (expired) September 7
BEC 72, 77

The adventure continues...

[Anonymous]

Yes we can do it!!! CPA50 its your first one too? Here's to our first pass…

[Julia_anika]

On my AUD exam (the one I got 73) I had several questions regarding management's annual report. I use CPA excel to study for AUD, and there is NOTHING about this subject matter. Those questions could have been “test” questions.. anyway, I want to be better prepared the next time I sit for the exam. Where would I find info/rules about annual reports?

NYC, NY
FAR - 82 Jan 2014
AUD - 86 Apr 2014
BEC - 77 Aug 2014
REG - 79 Nov 2014

[Quinacridone]

I do not recall reading about a management's annual report. Could this possibly be the Management's Discussion & Analysis (MD&A) or the management's representation letter?

The SEC establishes the criteria for the MD&A. Auditors may have to review these so we are required to understand the requirements on them. I'll see if I can find anything else when I get home this evening.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[jeff]

Wednesday BLITZ: Audit Reports

https://www.another71.com/ninja-blitz/

[oblio]

From Wikipedia:

Typical annual reports will include:[1]

General Corporate Information

Accounting policies

Balance sheet

Cash flow statement

Contents: non-audited information

Profit and loss account

Notes to the financial statements

Chairpersons statement

Director's Report

Operating and financial review

Other features

Auditors report

[CPA50]

ayafzal78 – Yes, this is my very first one – fingers and toes crossed! Very best wishes to you!!!

AUD 88 (expired), 80 retake
FAR 64,69,67,73,67,73,73,73, August 3
REG 75 (expired) September 7
BEC 72, 77

The adventure continues...

[Author]

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