[MCLKT]

Hi all of my Auditing class of 2013 Ninjas!

Is there a study group topic for Jan/Feb 2013 yet?

If not, can we start one?

I have scheduled my exam for 1/11. This is my second try (73 in Aug. 2012). Tonight I am going to take a mini practice exam to see what I remember and get and idea of my weak spots. And tomorrow I begin re-watching Yaeger vidoes. The entire timeline is to work book questions as I go through each module. Wrapping up the last video by Dec 14. And will do nothing but review, review, review until 1/10. Oh, and take my holiday vacation at the end of December, yikes!

What review material are you using? When is your exam? What topics have you covered? Any tips yet?

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[mypetmeatball]

Crunch time. I really wish I had a few more days for review. I'm not done redoing the homework yet. I still have to take the practice exams and work on a bunch of sims.

[Anonymous]

Well, I'm still here. I know I was supposed to take this exam like 2 months ago, but I've rescheduled it to death. (I've been doing some fun stuff at work, though! Who'd have thought working 12 hour days could be so much fun! :))

Anyway, I'm up for this Wednesday now and can't get it pushed out any further without skipping a month.

I did the first practice test today. It didn't go that bad, I guess. I calculated an average of 73. Eek, not passing, but I know what I need to go over.

Going to take the second one now. These practice tests seem to hurt my confidence, but the first time I took audit I didn't know they existed and never went back through all the questions I missed. So hopefully actually taking the practice tests this time, on top redoing all the questions I marked, the Wiley test bank, the Ninja audios I've listened to about three times all the way through, and the extensive not taking and reviewing…I'll pass this go round.

Got nerves again…I'm thinking a martini is in order Wednesday night!

[whatamidoing]

@mypetmeatball – Tell me about it. I wish I had another week to hit my weaker areas. I just keep doing 100 question progress tests over and over again, looking at my flashcards, and going over my weaker areas. I took tomorrow off to get one final full day in. Good luck with these last few days before Thursday.

@anna – don't worry about your score on the practice exams. I didn't pass any of my Becker final exams for FAR and REG and scored about 20 points higher on the actual exam. I just view it as more multiple choice & SIMS to practice, as well as a way to gauge my time management.

F - 85 (11/2012)
R - 87 (1/2013)
A - 92 (2/2013)
B - 90 (4/2013)

DONE!

[Anonymous]

Best of luck to all of you! I'm glad we got the chance to do some studying together in this AUD study group and I look forward to seeing the passing scores roll out in wave #3.

The final review period is probably the second most nerve wracking part of our exam experience (second only to waiting for scores). It sounds like everyone here is making the most of the final days leading up to the exam. Don't get overwhelmed by thinking about what you have to do to get ready, but focus on executing your final study plan one day at a time.

[whatamidoing]

Can someone explain why your sample size decreases if your risk of incorrect acceptance increases?

F - 85 (11/2012)
R - 87 (1/2013)
A - 92 (2/2013)
B - 90 (4/2013)

DONE!

[meli083]

@whatamidoing- I think it's because the increase in risk means that the auditor is willing to accept a higher risk and therefore does not need to sample as much. Treat it the same as tolerable misstatement.

Not entirely sure though. Can someone verify this?

AUD: 2/28/2013 - 86
FAR: 10/19/2013 - 83
REG: 1/6/2014 - 80
BEC: 2/27/2014 - 81

[Anonymous]

You're right on the money. If we are willing to accept a higher risk that the sample results say the account balance is ok, when in fact it is not, then we don't need to sample as much. The higher the sample size, the more likely it is that the sample is an accurate reflection of the population as a whole. The key is our willingness to accept this risk- the less we are willing to take the risk, the bigger the sample size.

[whatamidoing]

@meli and badger – Thanks! Your explanations made the lightbulb go off in my head. I kept interpreting the question as if the actual risk increased instead of the risk the auditor was willing to accept. I wish they would phrase it better than saying “Risk of Incorrect Acceptance is higher.”

Seriously, a huge thank you.

F - 85 (11/2012)
R - 87 (1/2013)
A - 92 (2/2013)
B - 90 (4/2013)

DONE!

[joch0803]

Hello Everyone,

Is anyone using the review system “Exam Matrix”?

I have a friend who is thinking about using it for her Audit retake. She has taken the audit part 3 times with Becker and still hasn't passed.

Any advice is appreciated!

Audit 10/2012- 77
Reg- 1/7/13- 82
Financial-2/25/13- 78
BEC- 74,66,81!

License pending : )

Ethics- Passed
Experience- Done

Using Becker self study.
**For BEC retake using Ninja Blitz, Ninja Notes, Ninja Audio, and WTB (my Becker expired)

[Jimmy520]

Checking in for AUD, what are the major areas being tested on for AUD?

FAR-2/1/2013 Passed!!
AUD-4/5/2013
REG-5/31/2013
BEC-7/15/2013

[mypetmeatball]

Becker Practice Exam #1 is in the books

Testlet #1: 80

Testlet #2: 93

Testlet #3: 90

“Risk Tab”: 70

“Internal Control” tab: 100

“Tickmarks” Tab: 62

“Statistical Sampling”: 80

“Comparative Financial Statements” Tab: 93

Government Auditing Tab: 80

Research: 100

That gives me more confidence, hopefully I'll be good to go after I touch up a few areas. I got piss lucky on the government tab that's for sure

[whatamidoing]

Good scores @mypetmeatball.

I've been surprised I haven't been bombing A-6 questions in the progress test with the gov't questions…its mostly good guessing and knowing just enough of the gov't stuff, I guess.

F - 85 (11/2012)
R - 87 (1/2013)
A - 92 (2/2013)
B - 90 (4/2013)

DONE!

[mypetmeatball]

Fun Fact: I haven't gotten a single kiting question right. Ever. It's driving me absolutely nuts. I'm talking about the questions that give you four dates and you have to find the example of kiting. I hate it so so so much

[meli083]

I'm not a fan of the kiting question (with the four dates) either. I've done probably around 10 of those and never got it right the first time. My goal at this point is to just get it right the first time. I'll eventually run into it again with all these Wiley practice tests.

AUD: 2/28/2013 - 86
FAR: 10/19/2013 - 83
REG: 1/6/2014 - 80
BEC: 2/27/2014 - 81

[Futile]

With kiting, you're concerned with overstating cash at the balance sheet date. Look for the date(s) with receipts per books recorded before disbursements per books. Usually receipts will be in the current period and disbursements in the next.

CPA exam: Done!

Thank You, Lord.

[Author]

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