[Q2] AUD Study Group 2014 - Page 25

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    Topic
  • February 6, 2014 at 9:59 pm #183479
    jeff
    Keymaster

    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. 🙂

Viewing 15 replies - 361 through 375 (of 893 total)
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  • April 11, 2014 at 1:55 pm #568376
    Fil-Am
    Participant

    I'm back and anxious as my exam is 9 days away. As the spring season kicked in, I had like an all-in-one sickness attacked. I felt like I have flu and cold on top of my pollen allergy – most of their symptoms are the same but it really put me out of my loop. I visited the urgent care in 2 consecutive days. I haven't been studying good for the past 10 days. I am still not 100% better because pollens are still around and bug me. But now I'm back with 9 days left. I'm using CPAExcel and Ninja Audio (and I noticed most of you here are using Becker – my dream course). I just pray, hope, and do the best hoping I'll pass Audit on the first try. I'll pray the same for everyone here.

    Good Luck and God Bless Everyone.

    Anything worth doing is probably not easy, but the rewards are worth it. (unknown)
    Please feel free to add me on LinkedIn just to say hello or stay in touch.

    CPA Exam - PASSED 2014
    CALCPA Ethics - Passed 2014
    CA CPA License - Pending

    To God be the Highest Glory. Little Miracle happens every second!

    April 11, 2014 at 7:02 pm #568377
    Anonymous
    Inactive

    I am getting very worried now..I have been reading the post bat Audit exam experience and most every one on there said FAR before Aud really helped with Aud sims 🙁

    I will devote a day to go over some basic Financial accounting stuff but don't know what else to look over..

    April 11, 2014 at 7:05 pm #568378
    seattleacct
    Member

    I only think they mention FAR is because both sections have ratios. Your audit materials should have the ratio information that you need.

    B:76
    A:64, 73, 91!
    R:77
    F:76

    CPAexcel, Wiley Test Bank, Ninja Audio & Notes

    April 11, 2014 at 9:41 pm #568380
    Anonymous
    Inactive

    I think its more than ratios..Ratios I am ok with but if its the equity method and involved adjusting JEs I don't know how I'll do

    April 11, 2014 at 10:46 pm #568381
    seattleacct
    Member

    Just review the MCQs that involve the equity method; it's mostly about the auditing procedures involved with client's who use the equity method, not calculations.

    Adjusting JEs are pretty easy:

    Expenses: Debit (example- Dr COGS expense, Cr. Inventory, when sale is made) Then,

    Revenues: Credit (ex- Dr. A/R or Cash, Cr. Revenue or Income, also when sale is made)

    Assets usually have a debit balance and Liabilities usually have credit balance, unless you need to back something out to fix it.

    Have you done the practice exam on the AICPA website? That should help out.

    I'm more worried about differentiating between control risk and inherent risk examples.

    B:76
    A:64, 73, 91!
    R:77
    F:76

    CPAexcel, Wiley Test Bank, Ninja Audio & Notes

    April 11, 2014 at 11:41 pm #568382
    Anonymous
    Inactive

    I am planning to do AICPA exam this weekend also.

    Thanks for the review 🙂

    Ah CR and IR. I believe I am doing ok with that so far. I have a week left and my goal is to do all the MCQs again and see if I hv time to WTB, at least some of it.

    When are you planning to test?

    April 12, 2014 at 2:41 am #568383
    seattleacct
    Member

    I'm taking it on the 19th, for the 3rd (and hopefully last) time. Audit is the hardest section for me, because a lot of the reasoning doesn't really make sense. So, I'm really trying to drill down to my weakest points. The Sims were my downfall last time.

    I understand the definitions of IR & CR, but when I have to guess whether which one has increased or decreased or which one applies, I'm just guessing. The practice exam on the AICPA's website has a TBS like that and I still don't really understand the reasoning for their answers.

    B:76
    A:64, 73, 91!
    R:77
    F:76

    CPAexcel, Wiley Test Bank, Ninja Audio & Notes

    April 12, 2014 at 6:16 pm #568384
    Anonymous
    Inactive

    Its been very quiet here lately!! I m assuming everyone is busy studying hard..

    I am planning to review A6 and then hopefully go over all the sims today.

    Tomorrow is a quick progress test with abt 100 or MCQS and then do some FAR stuff. And tomorrow night I want to take the final..

    Exam next friday..its the final countdown. Really want to make the last few days count!

    April 12, 2014 at 8:22 pm #568385
    scarletknight91
    Member

    i just finished a6 lol.. but ive been reviewing throughout the study process so i feel ok taking this exam in 12 days

    FAR: PASSED
    REG: PASSED
    AUD: PASSED
    BEC: PASSED

    DONE

    April 12, 2014 at 8:23 pm #568386
    scarletknight91
    Member

    gagas killed me.. i felt the lecture hardly stressed the biggest points well enough

    FAR: PASSED
    REG: PASSED
    AUD: PASSED
    BEC: PASSED

    DONE

    April 12, 2014 at 9:16 pm #568387
    scarletknight91
    Member

    ayafzal78, i would advise against studying far stuff unless you totally feel comfortable with everything in auditing. my bet is that the far concepts that will be tested wont be advanced far topics so if i were you i wouldnt look at it

    FAR: PASSED
    REG: PASSED
    AUD: PASSED
    BEC: PASSED

    DONE

    April 13, 2014 at 1:08 am #568388
    scarletknight91
    Member

    can anyone shed some light on this supposed “TIP PIE” mnemonic?

    FAR: PASSED
    REG: PASSED
    AUD: PASSED
    BEC: PASSED

    DONE

    April 13, 2014 at 1:08 am #568389
    scarletknight91
    Member

    can anyone shed some light on this supposed “TIP PIE” mnemonic?

    FAR: PASSED
    REG: PASSED
    AUD: PASSED
    BEC: PASSED

    DONE

    April 13, 2014 at 2:59 am #568390
    Anonymous
    Inactive

    https://www.another71.com/cpa-exam-forum/topic/control-risk-inherent-risk-1

    Seattleacct: this is a good discussion to look at for Inherent and Control risk

    April 13, 2014 at 3:01 am #568391
    Anonymous
    Inactive

    https://www.another71.com/cpa-exam-forum/topic/working-on-simulation-in-becker-auditing-audit-evidence-help

    Also check this one out.

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