[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*

[mags603]

Anyone have any advice on how many weeks to allot for Audit and hours suggested for study? Thank you!!

[mypetmeatball]

How is everybody else spending their final 24 hours?

I'm about to take Practice Exam #2, then some light concept reading and flash cards

[whatamidoing]

When I get home from work, I'm going over my important flashcards that I don't know yet, reviewing int'l rules, and taking a few more 100Q progress tests. Exam is at 730A tomorrow so I'd like to be in bed by 1030 tonight to get a good night's sleep. Good luck tomorrow.

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

DONE!

[MinSeokYi]

1. Ninja Notes.

2. Prof Res.

3. Stand Report and Differences…

Crap, I should look at international stuff as well.

BEC: Passed
REG: Passed
FAR: Almost Past (lol)
AUD: I thought I passed with flying colors, but I wasn't close!

[Anonymous]

joch0803 – I've been using the ExamMatrix review program and I've been pretty happy with it. It focuses on numerous multiple choice questions with constant feedback with reference material and related glossary terms. It has a feature where it will focus on trouble questions to provide repetition in areas where one may be struggling. I am using it now for Audit and feel pretty good about the material. The textbooks do not seem to offer very good reading material as it seems to be very close to the auditing standards and is can be very dry with how it reads. I would say the advantage over Becker is that it tends to focus on the material you really need rather than inundate you with an overload of information that may not all be completely necessary. It's also a fraction of the price @ ~$1,000 or so for the complete set. I used the program for BEC as well and passed on the first try. I haven't yet used the material for FAR or REG.

[Anonymous]

I see a lot of 2/28 takers! One more day!!!!

I took off work so I can study all day today. I will be going over the entire book and write notes on a separate piece of paper for important things so I can read 'em right before the exam. Then go over all questions I got wrong.

Does anyone have rituals before the exam? I just drink a cup of coffee right before the test. It helps give the extra boost to stay focused. And I try to get there at least 45 minutes early. Surprisingly, they always let me take the test early.

Taking the actual test is another challenge. Usually after the second testlet I just want to smash the computer and walk out of the test center, but I remember the countless hours and late nights studying.

[Anonymous]

Well I'm back from the test.

I'm still looking for the “My Reports” button in Wiley. Maybe I have a mini-version of the software or something. I just can't find it.

Anyway, I hope I passed and don't need to review it again. That test was nasty!

[mypetmeatball]

Finished the second final review — much much harder for me. I have a few questions for Becker crew. First the scores:

T #1: 76

T #2: 80

T #3: 93

Sims:

Planning Tab: 100

Engagement Tab: 93

Fraud Risk Tab: 60

Inventory Tab: 75

Ratios Tab: 30

Assurance Tab: 90

Research Tab: 0

Much worse than last time. But two things:

1) I got absolutely screwed on the ratios tab. I got every single ratio right, but did not round to the nearest tenth…so all were counted as incorrect. I should have gotten an 80%. Do things like this really happen on the real exam? I didn't see anything about rounding in the directions anywhere! That's scary as hell.

2) Did anyone else screw up the research on this exam? The correct answer was 341.13 and I said 341.12. I kinda thought this was BS too. The call of the question just wanted the wording for the explanatory paragraph of a going concern. The former was an example of a paragraph, so I GUESS that's the better answer, but the section I chose also had the exact line that should be used. This exam has me questioning everything lol. The perils of not knowing how an exam is graded.

[Anonymous]

I did the same thing for the ratios with regards to not rounding and this won't matter on the real exam. Same thing on far when it doesn't matter what order you do j/e as long as they are appropriate dr and cr.

The research question was asking more for an example of the language to use in a report. Just got to be careful of what there asking for. I always try to reread the question again before I confirm my answer. In this case I reread the question and realized .13 was more appropriate. I see where your coming from it could have been either.

Can't wait for this to be over tomorrow!

[whatamidoing]

I wish Becker included a similar summary of Int'l standards like they have in their FAR book after each chapter. Would make skimming the int'l standards easier than flipping page by page.

Yeah, I got one of my ratios marked wrong too. 2 others, I got wrong anyways. God help me if I get a ratio SIM. I know a handful of them but not even half. And I, too, got the research wrong…I'll pay closer attention to the call of the question tomorrow.

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

DONE!

[mypetmeatball]

Thanks guys. My weak points still remain: 1) figuring out where there is incompatible duties in a cycle scenario (eg: Which of the following is incompatible) 2) Knowing what department does what in transaction cycles 3) Gov't 4) Nitty gritty report details

[whatamidoing]

Since I seem to never get a kiting question right, can someone confirm if this example I made up is kiting?

I'd check the bank transfer schedule and the check received into Bank #2 account was marked as received as 12/30/2012 but when you look at the date it was disbursed from Bank #1, it is 1/3/2013. Basically, the money is in both accounts per the book as of 12/31/2012 when in reality it was only in Bank #1, right?

For lapping, can someone confirm this?

The check is shown to be deposited on 3/31/2012 but in the A/R schedule, the date is 4/5/2012.

Thank you!

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

DONE!

[Anonymous]

Just took my test today. Can't say how I feel about it. I studied my brains out, but that may not be enough. We'll see.

[whatamidoing]

If anyone has any trouble remembering the wording of the going concern explanatory paragraph, I use the following which helped me memorize it:

US – “sUbstantial doubt” & “going concern”

Int'l – “sIgnificant doubt”

(U in substantial for US and I in significant for Int'l)

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

DONE!

[MinSeokYi]

@mypetmeatball, does Becker have a large amount of info on gov't accounting?

BEC: Passed
REG: Passed
FAR: Almost Past (lol)
AUD: I thought I passed with flying colors, but I wasn't close!

[Author]

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