I'm with you on that, @funtiks. I got through the huge two hour lecture of fun yesterday… which took me closer to five hours since I stopped the video whenever I needed to type out stuff or digest the information. I like the new guy's style, though. He and Olinto are OK in my book.
This transaction cycle jargon is what I always had issues with in college. I would either be unsure whether we were testing for completion or existence, or I would correctly identify the right assertion and test it backwards. It's tricky.
I think I'm getting a little better at it, at least. The house analogy Becker keeps referring to helps a lot, and I've been trying to tackle questions systemically. Something like, “Is the risk with management overstating assets / revenue or understating liabilities / expenses?” -> “Do we need to vouch down or trace up?” -> “So what assertion is management making?” -> “What's the proper way to test that assertion?” That usually narrows it down pretty well.
Gotta do those 109 questions, the other audit procedures lecture / HW, and the evaluating audit findings lecture / HW today. This is going to be rough.
Best of luck with it, @funtiks. I think this is just going to be a section we'll have to go over a couple of times to really understand how things fall into place.
FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88
Licensed December 2015
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