[jeff]

AUD Resources:

Free AUD Notes & Audio – https://www.another71.com/cpa-exam-study-plan

AUD 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

AUD Score Release: https://www.another71.com/cpa-exam-scores-results-release

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

@CPA Dilemma – How were you with Auditing in college? And/or do you do it in your job currently? I took FAR July 17, have AUD scheduled for Aug 14, and feel pretty good about that…but I did quite well with AUD in undergrad (it “clicked” more than any of my other courses), and on 2 different 10-question quiz-type-things for AUD that I took while studying for FAR, I scored 80%, so I figured I must remember something from undergrad! Also, whether or not you're currently working will affect how much you can study in a short time.

However, 2-3 weeks is definitely a short time for a CPA exam section. Unless you are very comfortable with Auditing material, it might not be long enough. But…if not, so what? Worst that happen is you reschedule it, or you fail and take it over, so if the fees associated with re-taking or re-scheduling the exam don't bother you, then might as well try! Just don't let it dishearten you if you have to reschedule or fail, because you will be extremely amazing if you pass it with 2-3 weeks study..and still be pretty awesome if you pass it at all, even if it takes a few tries!

[spartans90]

HELP!

I have been studying using Becker version B with the clarified standards. There were a couple of short videos about the differences from the old way of doing it to the new clarified standards. However, I have been focusing all of my time learning the new way of doing it.

There are only 15 practice questions on the 10 GAAS standards and the old reporting model. Do I need to know all the intricacies of doing it the old way for any question involving Issuers on the exam?? I feel like I have no practice with this at all!

Also, what is the new equivalent of the 10 GAAS standards?

My test is in 4 days! AHHHH!!! THanks in advance!

[spartans90]

HELP!

I have been studying using Becker version B with the clarified standards. There were a couple of short videos about the differences from the old way of doing it to the new clarified standards. However, I have been focusing all of my time learning the new way of doing it.

There are only 15 practice questions on the 10 GAAS standards and the old reporting model. Do I need to know all the intricacies of doing it the old way for any question involving Issuers on the exam?? I feel like I have no practice with this at all!

Also, what is the new equivalent of the 10 GAAS standards?

My test is in 4 days! AHHHH!!! THanks in advance!

[Anonymous]

I would not concern yourself too much with the details of the Clarified Standards. There's a lot of information for them to test, I can't imagine them testing in great detail, the new standards. Just know them at a high level. I've got my exam in 8 days and I've only read through the information twice and I am confident. It certainly won't be the reason you pass/fail this exam in my opinion. Good luck

[Anonymous]

I would not concern yourself too much with the details of the Clarified Standards. There's a lot of information for them to test, I can't imagine them testing in great detail, the new standards. Just know them at a high level. I've got my exam in 8 days and I've only read through the information twice and I am confident. It certainly won't be the reason you pass/fail this exam in my opinion. Good luck

[kevinco]

I would not be too concerned about the Clarified standards, just the obvious differences ie, report format. You should however concentrate on concepts.

Boise State Alumni

05/08/13 FAR Passed - 80
07/09/13 AUD Passed - 96
10/10/13 REG Passed - 75
11/07/13 BEC 77!!! I am DONE!!!!!!!!
12/13/2013 Received my CPA license on my son's 6th birthday in the mail! My son is always a blessing!!

BS - Environmental Science
BBA - Accountancy

Becker Lectures and MCQs. Click on my avatar for my LinkedIn page.

[kevinco]

I would not be too concerned about the Clarified standards, just the obvious differences ie, report format. You should however concentrate on concepts.

Boise State Alumni

05/08/13 FAR Passed - 80
07/09/13 AUD Passed - 96
10/10/13 REG Passed - 75
11/07/13 BEC 77!!! I am DONE!!!!!!!!
12/13/2013 Received my CPA license on my son's 6th birthday in the mail! My son is always a blessing!!

BS - Environmental Science
BBA - Accountancy

Becker Lectures and MCQs. Click on my avatar for my LinkedIn page.

[Anonymous]

Question for everyone… It might be dumb one.

I am studying with Becker and Wiley test bank and there is question that showed up that just is bugging me to death. The question asked when would be a reasonable explanation to make debits to accumulated depreciation account. With the years I have in accounting, I only use for the sale of an asset or the retirement of one.

The answer said when the repairs where done to the asset and extends the life of the asset. I am sorry but I think this is bogus answer… FAR specifically had us calculate life of an asset (the depreciation expense) when it was extended…

Please help!

In addition, can someone please help me with the following:

Inventory Listing

CPA inventory count

Inventory Tags

Client's Inventory listing

These items I have no idea which is the source document and which is the actual accounting record for the purpose of figuring our either existence or completeness assertions..

Thanks

God's speed!

[Anonymous]

Question for everyone… It might be dumb one.

I am studying with Becker and Wiley test bank and there is question that showed up that just is bugging me to death. The question asked when would be a reasonable explanation to make debits to accumulated depreciation account. With the years I have in accounting, I only use for the sale of an asset or the retirement of one.

The answer said when the repairs where done to the asset and extends the life of the asset. I am sorry but I think this is bogus answer… FAR specifically had us calculate life of an asset (the depreciation expense) when it was extended…

Please help!

In addition, can someone please help me with the following:

Inventory Listing

CPA inventory count

Inventory Tags

Client's Inventory listing

These items I have no idea which is the source document and which is the actual accounting record for the purpose of figuring our either existence or completeness assertions..

Thanks

God's speed!

[kevinco]

@cesar. I have no idea about the first question I would think that extending the life and reducing depreciation makes sense but I have never seen that happen.

The source documents are the inventory tags and whenever you are tracing from the source docs to the list (accounting document) you are testing for completeness. ( You will be tracing to the clients listing to see if the list is complete)

Easy way I crammed the existence and completeness stuff is using acronyms- EV and CT – Existence – Vouch; Completeness- Trace.

Hope this helps

Boise State Alumni

05/08/13 FAR Passed - 80
07/09/13 AUD Passed - 96
10/10/13 REG Passed - 75
11/07/13 BEC 77!!! I am DONE!!!!!!!!
12/13/2013 Received my CPA license on my son's 6th birthday in the mail! My son is always a blessing!!

BS - Environmental Science
BBA - Accountancy

Becker Lectures and MCQs. Click on my avatar for my LinkedIn page.

[kevinco]

@cesar. I have no idea about the first question I would think that extending the life and reducing depreciation makes sense but I have never seen that happen.

The source documents are the inventory tags and whenever you are tracing from the source docs to the list (accounting document) you are testing for completeness. ( You will be tracing to the clients listing to see if the list is complete)

Easy way I crammed the existence and completeness stuff is using acronyms- EV and CT – Existence – Vouch; Completeness- Trace.

Hope this helps

Boise State Alumni

05/08/13 FAR Passed - 80
07/09/13 AUD Passed - 96
10/10/13 REG Passed - 75
11/07/13 BEC 77!!! I am DONE!!!!!!!!
12/13/2013 Received my CPA license on my son's 6th birthday in the mail! My son is always a blessing!!

BS - Environmental Science
BBA - Accountancy

Becker Lectures and MCQs. Click on my avatar for my LinkedIn page.

[Anonymous]

How is everything going in this thread!?

I have AUD in about 2 weeks and am cramming in as much Audit as I can between now and then hoping to steal a passing grade from the AICPA, haha.

Question for anyone who has an answer, what is a “written assertion” in the context of reviews & examinations. Also, when there is no written assertion, why is it a scope limitation when the client is the responsible party?

I can't find a clear cut definition. I am assuming its something similar to a management representation letter?

[Anonymous]

How is everything going in this thread!?

I have AUD in about 2 weeks and am cramming in as much Audit as I can between now and then hoping to steal a passing grade from the AICPA, haha.

Question for anyone who has an answer, what is a “written assertion” in the context of reviews & examinations. Also, when there is no written assertion, why is it a scope limitation when the client is the responsible party?

I can't find a clear cut definition. I am assuming its something similar to a management representation letter?

[kevinco]

@dutlas. Could you write out the full question so we can try to help out?

Boise State Alumni

05/08/13 FAR Passed - 80
07/09/13 AUD Passed - 96
10/10/13 REG Passed - 75
11/07/13 BEC 77!!! I am DONE!!!!!!!!
12/13/2013 Received my CPA license on my son's 6th birthday in the mail! My son is always a blessing!!

BS - Environmental Science
BBA - Accountancy

Becker Lectures and MCQs. Click on my avatar for my LinkedIn page.

[kevinco]

@dutlas. Could you write out the full question so we can try to help out?

Boise State Alumni

05/08/13 FAR Passed - 80
07/09/13 AUD Passed - 96
10/10/13 REG Passed - 75
11/07/13 BEC 77!!! I am DONE!!!!!!!!
12/13/2013 Received my CPA license on my son's 6th birthday in the mail! My son is always a blessing!!

BS - Environmental Science
BBA - Accountancy

Becker Lectures and MCQs. Click on my avatar for my LinkedIn page.

[Author]

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