[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. 🙂

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

[Quinacridone]

BFFWiley, are you referring to service organizations written assertions? I'm not sure. Sorry couldn't help more.

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!!)

[YORKER]

@JAMES B JAMES A4 IS CRAZY. THERE ARE THREE SETS OF SIMULATIONS AND MOST OF THEM ARE EXTREMELY TIME CONSUMING ESPECIALLY THE RATIOS ONES. SO ANYWAYS IT TOOK ME CLOSE TO 20 HOURS TO DO THE CHAPTER INCLUDING REVIEW.

[Gabe]

@NYC I am also interested- anyone that has taken AUD know how big a part the financial ratio analysis plays?

@James A4 is huge. I read the book, didn't watch the lecture but did look at the “marked up” Becker book (in the software you can open up the chapter and it shows all the notes they make in the video) and then plowed through the homework and all the sims. Took me about 3-3.5 days

CPA, CFE
CISA- Experience will be completed by August 2016

[Anonymous]

Sorry, my previous post was so vague. I'm a little confused with the Attestation Engagement assertions. I'm confused about assertions about a subject matter and direct subject matter.

Here was a question I was confused from Wiley's 2014 textbook:

Conditions exist that result in a material deviation from the criteria against which the subject matter was evaluated during an examination. The CPA's conclusion may be on:

a) Subject Matter and Written assertion

b) Subject Matter only

c) Written assertion only

d) none

Answer b: because such circumstances the conclusion should be directly upon the subject matter.

Why can't there be a conclusion on written assertions? Is it because it's management's written assertion? And could someone explain why the auditor can conclude on direct subject matter?

[YORKER]

@BFF WILEY – Because in this instance the auditor would have to modify the report. In general the auditor can exam a written assertion or a subject matter however if the report contains a modification then only a subject matter can be examined.

[Anonymous]

Ratios are not important for audit, per my sources.

[NYCaccountant]

Thanks @CPAOneDayHopefullay.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[zieba]

and just because he wrote that now NYC is sure to be hit with a ratio SIM which requires analytical interpretation of ratio cause and effect.

I laugh because I had EXACTLY this happen on REG (dates).

I got through FAR and AUD with just a few. Quick, acid, inv turn, days sales…. you should know these, I think when you first see all of them you're like OMG – but – being able to interpret reasons for changes in these numbers is an important skill, IMO.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[thehip41]

NYC –

I don't remember what was on my AUD test, that was over 6 months ago.

I've done about 2000 MC studying in the last month, and it seems like I get the same ratios over and over.

Inventory Turnover. Accounts Receivable turnover.

FAR - 83
AUD - 73 92
BEC - 83
REG - 88

Licensed CPA in the state of Michigan

[oblio]

Is lack of consistency a GAAP departure? A problem said to issue qualified opinion even if GAAP departure is properly noted in financial notes. I figure an EOM paragraph is used for lack of consistency, thus lack of consistency is not GAAP departure since unmodified with EOM report is ok.

[NYCaccountant]

My Wiley book includes the Module on Information Technology, which was covered in BEC. Is IT covered in the exam? I recently took BEC, so I have a good grasp of IT because I remembered much of it. The Wiley also includes internal Control and COSO, which again was covered in BEC, but looks like Audit covers it more extensively. Any thoughts?

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[thehip41]

Lots of overlap in AUD. The sims cover a lot of FAR material. Internal control deals a lot with BEC IT concepts.

COSO seems about the same for both BEC and AUD

I'm pretty sure you can have an unmodified report but add a paragraph describing consistency issues.

FAR - 83
AUD - 73 92
BEC - 83
REG - 88

Licensed CPA in the state of Michigan

[NYCaccountant]

Ok, thanks @thehip41. When do you sit for your exam?

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[thehip41]

May 24th. I'm ready right now, just going to keep studying everyday. 150 MC and 5 sims a day for like 9 more days.

FAR - 83
AUD - 73 92
BEC - 83
REG - 88

Licensed CPA in the state of Michigan

[NYCaccountant]

Ok, good luck!! I hope you crush it!

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Author]

Replies