[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]

What is the timeframe for AUD to start testing on the clarity standards? Should I be glossing over them while I study for AUD.

FAR- 81 (7/2012)

BEC-84 (2/2013)

REG-74(UGH! 1/13) Retook 7/2013 waiting….

AUD-74(UGH!!! October 2012) Sitting 8/2013

[Anonymous]

@Qlad- For that Becker Audit Sim, you were correct that the answer provided was incorrect. Here was an update from Becker

6/27/13 A3 B

Page 23

Sim 1

Task 6

Solution

The authoritative literature reference is incorrect. We show AU-C 620.14. The

correct reference is AU-C 620.15. The search term provided is correct

[Anonymous]

@Qlad- For that Becker Audit Sim, you were correct that the answer provided was incorrect. Here was an update from Becker

6/27/13 A3 B

Page 23

Sim 1

Task 6

Solution

The authoritative literature reference is incorrect. We show AU-C 620.14. The

correct reference is AU-C 620.15. The search term provided is correct

[Anonymous]

@jdwalton19

These questions are very tricky. I by no means have mastered them but I think I can help with this question.

“An invoice is prepared for each shipping document.”

At a glance this looks like we are starting with a sample of invoices and vouching them to the shipping docs and testing existence. But it really says “each shipping document has an invoice.” Now the only way to do that is by taking a sample of shipping documents and tracing them up to the invoices.

We are testing from source–>records

The wording with the direction of testing can be tricky. But going from invoices to shipping doc, would not tell us an invoice is prepared for EACH shipping doc, only that EACH invoice has a corresponding shipping doc.

i hope that helps

[Anonymous]

@jdwalton19

These questions are very tricky. I by no means have mastered them but I think I can help with this question.

“An invoice is prepared for each shipping document.”

At a glance this looks like we are starting with a sample of invoices and vouching them to the shipping docs and testing existence. But it really says “each shipping document has an invoice.” Now the only way to do that is by taking a sample of shipping documents and tracing them up to the invoices.

We are testing from source–>records

The wording with the direction of testing can be tricky. But going from invoices to shipping doc, would not tell us an invoice is prepared for EACH shipping doc, only that EACH invoice has a corresponding shipping doc.

i hope that helps

[jdwalton19]

Thanks for all the replies. I took another look in the book and found a diagram that shows that the shipping document comes BEFORE the Sales Invoice in the Revenue Cycle. I don't know why, but I was under the impression that the shipping document came after the sales invoice. So the answer above makes perfect sense since tracing from the Shipping Doc (which comes first) to the sales invoice would in fact verify the completeness of the sale.

FAR - MAY - 84
AUD - AUG - 88
REG - AUG - 92
BEC - Dec - 82

KY Licensed!

Yaeger

[jdwalton19]

Thanks for all the replies. I took another look in the book and found a diagram that shows that the shipping document comes BEFORE the Sales Invoice in the Revenue Cycle. I don't know why, but I was under the impression that the shipping document came after the sales invoice. So the answer above makes perfect sense since tracing from the Shipping Doc (which comes first) to the sales invoice would in fact verify the completeness of the sale.

FAR - MAY - 84
AUD - AUG - 88
REG - AUG - 92
BEC - Dec - 82

KY Licensed!

Yaeger

[Anonymous]

@asekora The official answer is that tests after June 30 are testing the clarity standards. Jeff's assumption is that it will take them some time to phase out the old questions, but my Wiley book seems to assume it will be an instant change. So, everyone expects clarity questions on tests July 1 and after, but the extent of the change is up to debate.

[Anonymous]

@asekora The official answer is that tests after June 30 are testing the clarity standards. Jeff's assumption is that it will take them some time to phase out the old questions, but my Wiley book seems to assume it will be an instant change. So, everyone expects clarity questions on tests July 1 and after, but the extent of the change is up to debate.

[Qlad]

i know ratios in AUD is very important but i am not able to find a logical way to remember what goes in the numerator or denominator…. they look very difficult to understand…is there any logical way to understand them…there is no lecture in the becker about it…just to add to my agony…

Also does any one has idea about which ratios are mostly used and important?

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

[Qlad]

i know ratios in AUD is very important but i am not able to find a logical way to remember what goes in the numerator or denominator…. they look very difficult to understand…is there any logical way to understand them…there is no lecture in the becker about it…just to add to my agony…

Also does any one has idea about which ratios are mostly used and important?

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

[Anonymous]

@Qlad – I'm only about halfway through my AUD book…but I haven't seen a ton of information relative to ratios…actually saw a lot more in FAR, which I see you've already taken! Are you finding AUD ratios that are different from FAR ones, or is it FAR ones that you're trying to refresh your memory about before taking AUD? I'm kinda hoping that I'm not in for a surprise with loads of new ratios to remember… 😛

[Anonymous]

@Qlad – I'm only about halfway through my AUD book…but I haven't seen a ton of information relative to ratios…actually saw a lot more in FAR, which I see you've already taken! Are you finding AUD ratios that are different from FAR ones, or is it FAR ones that you're trying to refresh your memory about before taking AUD? I'm kinda hoping that I'm not in for a surprise with loads of new ratios to remember… 😛

[Qlad]

@ Elisabeth…

I did not even touch ratios in FAR…there was already too much to study there….and luckily did not get even a single q on that…but here i think it's important bcoz ratio will be a big part in review of the audit and otherwise too…it is an important procedure of audit i think… i am giving the exam first time so can't say how important…

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

[Qlad]

@ Elisabeth…

I did not even touch ratios in FAR…there was already too much to study there….and luckily did not get even a single q on that…but here i think it's important bcoz ratio will be a big part in review of the audit and otherwise too…it is an important procedure of audit i think… i am giving the exam first time so can't say how important…

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

[Author]

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