[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

[klink24]

Question I encountered:

The auditor tests the quantity of materials charged to work in process by tracing these quantities to MATERIAL REQUISITIONS.

Wouldn't this be vouching since it's testing for existence (going back to requisition)?

FAR: 4/19/2014 - 85!
AUD: 5/27/2014 - 90!
REG: 7/18/2014 - 81!
BEC: 8/13/2014 - 84!

4 up, 4 down, in 4 months.

Licensed 9/22 in NC.

[JamesBJames]

It would be vouching, as far as I can tell. We want to make sure that items in inventory were included properly in material requisitions; that is, all the items currently recorded in inventory actually exist. That requires vouching.

Becker says that the CPA exam likes to use “trace” in place of “vouch” sometimes for whatever reason. On the actual exam, don't assume “trace” automatically means you're testing completeness.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[funtiks]

This transaction cycle is complete bullshit.

For someone who has not worked a day as an auditor its highly complicated. In addition when they like to use vouch in place of trace on the exam…WT????

FAR - 76*, 73, 85
BEC - 69, 72, 78*, 80
AUD - 72, 71, 90
REG - 71, 74, 85

AFTER 3 YEARS I'M DONE!!!

[funtiks]

double post

FAR - 76*, 73, 85
BEC - 69, 72, 78*, 80
AUD - 72, 71, 90
REG - 71, 74, 85

AFTER 3 YEARS I'M DONE!!!

[funtiks]

double post

FAR - 76*, 73, 85
BEC - 69, 72, 78*, 80
AUD - 72, 71, 90
REG - 71, 74, 85

AFTER 3 YEARS I'M DONE!!!

[Anonymous]

Not sure if this has been posted anywhere, but with the release of the new Becker app for Android/iOS I had to see if I could get it on my Kindle Fire HDX. Good news, *so far* it's working on my Kindle Fire HDX by installing the smartphone version through 1mobile market.

I'm going to attempt using it all weekend and see if it crashes or anything. After I logged in the first time, it crashed. When I logged in again, it was fine and it synced my progress and I started to download the lessons, questions, etc.

Mobile studying! Just what I wanted…Now I can never escape.

[klink24]

Thanks JamesBJames! I'll have to keep that in mind when reviewing my material. I've already solidified in my head from CPAExcel, Ninja Audio, and the Auditing class I just wrapped up that Tracing = Towards Statements and Vouching = Toward Source Documents. Have to reprogram as soon as possible.

@funtiks, tell me about it!

FAR: 4/19/2014 - 85!
AUD: 5/27/2014 - 90!
REG: 7/18/2014 - 81!
BEC: 8/13/2014 - 84!

4 up, 4 down, in 4 months.

Licensed 9/22 in NC.

[klink24]

By the way, just ran into another similar question:

If the objective of a test of details is to detect overstatements of sales, the auditor should trace transactions from the ACCOUNTING RECORDS TO THE SOURCE DOCUMENTS.

FAR: 4/19/2014 - 85!
AUD: 5/27/2014 - 90!
REG: 7/18/2014 - 81!
BEC: 8/13/2014 - 84!

4 up, 4 down, in 4 months.

Licensed 9/22 in NC.

[JamesBJames]

Just ran through the 109-question transaction cycle gamut for the 2nd time. Got about 2/3rds of the questions correct my first time through but got all 109 right when I re-did them a couple of hours later. I think a lot of this is starting to fall into place. Hopefully I'll be completely comfortable with it when I review everything at the end.

Regardless, there's a lot of tough minutia about the non-revenue / non-expenditure cycles. The payroll cycle trips me up a lot, and the financing cycle just gets so… oddly specific sometimes.

Can't wait until I get to A5's sampling. I really enjoyed that stuff in college.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[Anonymous]

Hey all.. I took my AUD exam on Thursday. Everything went well until I got to the simulations. I did all 7 of them and have 45 minutes remaining so I went back to look them over one last time. I got back to the first simulation, which was one where you double click the cell and then pick the best option available. Well when I went back to check my work, I clicked on the cells again and all the options had changed! The options that I had originally chose were still filled in but when I double clicked on the cell the options were different and the one that I had choosen was no longer there. Has anyone had a similar situation or ever heard of this? I'm not sure what to do, I called over the test center admin and she said she would submit a report with my test but that was all she could do about it. I'm wondering if I should contact NASBA? Or wait and see how I did on the test first? Any advice would be greatly appreciated!

[funtiks]

I think im just going to focus mainly on revenue and expenditure cycles.

No point wasting so much time on others

FAR - 76*, 73, 85
BEC - 69, 72, 78*, 80
AUD - 72, 71, 90
REG - 71, 74, 85

AFTER 3 YEARS I'M DONE!!!

[JamesBJames]

@dberndt, that is absolutely bizarre. I have nightmares about that kind of stuff. When I was done with all my FAR sims, I exited out of the testlet and went back to review them, like, at least three times just to make sure everything I entered stayed entered. I get paranoid about those sort of things.

At any rate, CONTACT NASBA. I just looked up some stuff on their site, and when it comes to notifying them, it says: “If any difficulties are experienced during testing, the candidate needs to notify NASBA’s Candidate Care Department at candidatecare@nasba.org within five business days of taking the Exam. Leaving a comment in the survey and/or notifying the staff at the testing center does not replace the need to file an official complaint with the Candidate Care Department within the five day limit.”

So, yeah, don't put that off.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[Anonymous]

@James, thanks for that! I had nightmares about that kind of stuff happening too, and then it does. I work for a public accounting firm and I asked probably 20 coworkers today (most of the CPAs or sitting for the exam currently) and none of them have ever heard of anything like that happening. Of course, it happened to me! Crazy! I am definitely going to contact NASBA! I felt good about the MC testlets and somewhat OK about the simulation testlet until that happened. My last exam I got a 74 on, so failing again would be devastating. I need the pass so I have the confidence to keep studying!

[NYCaccountant]

Let me know if I get this correct:

Tracing – Source document to journal entry, or financials. – Test completeness

Vouching – Backwards, look at voucher or check and look for look source document and asset. Test – Existence

Walkthrough – Trace through initiation to financial statements

Test of controls – Reperforming, Observation, Inspecting, Inquiry

Risk Assessment procedures – Analytic procedures, observation, inspecting , inquiry, communications with proceeding Auditor

Risk assessment is also an understanding of entities environment and internal control?

Please help me clean up where I'm a little off. Just trying to clean this up in my head.

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

[funtiks]

I think with trace / vouch you have to keep in mind what account you're working with.

example:

https://i.imgur.com/reMfFbt.png

FAR - 76*, 73, 85
BEC - 69, 72, 78*, 80
AUD - 72, 71, 90
REG - 71, 74, 85

AFTER 3 YEARS I'M DONE!!!

[Author]

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