[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. 🙂

[Anonymous]

You gotta get the feeling of defeat in you from the practice exams to help you study harder and longer to make yourself extra prepared for test day. Gotta fail before you succeed.

[katerina2665]

please , can someone help to understand difference between words implicit and explicit when the auditor makes representations? My language barrier is killing me on this one..

[Gabe]

explicit- you are stating it in the report out right. You can look at the report and see it say word for word, this report complies with GAAP

implicit- Even if it doesn't state it in the report, you can assume the work was done.

Hope this helps a little

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

[Anonymous]

Becker practice exam 2 is pretty freaking hard.

[JamesBJames]

@eliasm6

Ugh, I hate that question. I got it wrong the first time. Then, I got it wrong on the second pass through. I still don't like it.

If we're assessing control risk at low, it means we've already done quite a few test of controls and feel like we can rely on the control system to limit our substantive testing. C's out.

I always get confused about the extent of substantive testing that the other options require, unfortunately. In this example, B requires the least amount of effort and provides the least amount of evidence, but it's apparently not enough evidence for the auditor to be satisfied. D's a step up from that, and A is really extensive for whatever reason. Taxes are complicated.

Valuation is a really important assertion that management makes in the payroll cycle, so I guess we've got to do more than just footing and crossfooting.

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!

[JamesBJames]

[Oops, double post]

EDIT: You know what, let's try @gabequinn‘s problem. I haven't seen that question before.

If the physical count of inventory is higher than the perpetual records, then it usually indicates we missed something in the records. I like starting with the shortest answers.

B is– well, that sounds pretty good. Customers returned inventory, we've got it sitting with the rest of the inventory, and we never recorded it in the books. This causes the records to be understated relative to the actual inventory. Great.

C doesn't work. It would make sense if inventory was lower than the perpetual records.

D seems a little tricky. If it was purchased FOB shipping point, then it should have been added to the books even though we don't have physical possession of the goods yet. Again, this option makes sense if inventory was lower than the perpetual records.

I'm not sure exactly what the implications of A are. If the tags are still on the inventory, maybe they're not part of the physical count?

Regardless, B definitely explains the difference.

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!

[katerina2665]

@gabequinn, it actually helps a lot! Thanks 🙂 it sucks, english is my third language, and i never had a problem with it until i met Sir Audit in college, i literally had to look every other word in dictionary to at least understand what the f im reading about

[Anonymous]

English is my first language and on some of these questions i still don't get what some questions are trying to ask. I gotta look words up to find out what they mean lol.

[Qlad]

there is no need to feel discouraged …I think people who have english as 2nd language are in better position than others…bcoz they would read the question slowly and understand it first in their own language…whereas a student who's mother tongue is english would most probably run thru it and make more silly mistakes…

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[zieba]

Test is tomorrow. I stopped with the MCQ (was averaging 80's in WTB) and am going over highlighted top-level review notes for every chapter and SIMS. Especially J/E's, subsequent events and contingencies, assertions and kiting.

If they ask me to do PPS table from scratch I'm going to be pissed.

Test is 5:30PM – NOT in my usual test center – plan is to get to the area at 1:30 or so and hole up in local SBUX with the same kind of review procedure.

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

[JamesBJames]

I dunno, man, in a perfect world the AUD exam would be entirely about sampling. I love statistics.

You've already passed it once, at least. Good luck!

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!

[katerina2665]

@zieba, good luck tomorrow !

we all will be here on the 9th i guess, sweating for the scores 🙂

[Gabe]

Good luck zieba! Let us know how it goes! (well as much as you're able) 😉

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

[Anonymous]

hopefully NASBA gives you a passing score 😉 good luck

[funtiks]

scores hopefully will come out on the 5th

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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