[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Crunchtime]

How are you guys dealing with confidence of practice tests? I pulled 81% this morning using cpaexcel, I don't feel close to even try this. Do you guys just ignore the final score and just focus on learning the material?

AUD-77
BEC-70,73,68,74 SH##!!!!!, 80
REG-73,76
FAR -74,82

Ethics here I come!!

[LN_CPA to be]

@Crunchtime Practice tests are killing my confidence. I'm working mostly with NINJA MCQ now but also have Becker. I'm averaging in the high 80s when I work sets of questions, but just barely getting by on the practice exams with 75s for all 3 that I took. Given how much I've studied I feel like I should be scoring higher. For now I'm just going to continue to work through the MCQs and jot down sections that I need to review and go back to the Becker book.

[Qlad]

well …me too doing progress tests and averaging 80s…but my concern is concentration ….i am not able to concentrate on the questions for a long time…i forget what i was doing and start thinking something totally irrelevant that happened yesterday or earlier n then i remember after sometime i was reading a question and i wasted 4 min. of time…does this happen to someone else too…how r u guys dealing with it…

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

[NYCaccountant]

@Qlad when do you sit for your exam?

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Anonymous]

@Qlad: I was kinda happy reading your post knowing it's not just me having this issue. Same as you, I took Audit twice, which the first time was my busy season and my NTS was expiring so it was a joke, i went to the exam with no pressure. But the second time, I was having such a hard time focus with the questions, especially when they were long and wordy,which unfortunately, when something like this happens, I usually just take my best guess. So here I am, tomorrow with my 3rd try. I am feeling much better this time in terms of preparation, but people say the real exam in this test window is brutal, which makes me anxious, let's see how it goes tomorrow and good luck with your study!

[NYCaccountant]

@coocooper Good luck!

Anyone using Ninja test bank? How comparable are the SIMS to the real exam? for those who are using the test bank and have already taking the exam before.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Qlad]

@nyc…my exam on 18th…but as i said..having hard time to concentrate and not get derailed from what i was doing…need to start meditating …right now motivation factor is at low…

@cooper…all the best for the exam tomorrow…tell me how r u dividing ur time…the last 2 times…i got strong on sims and weak on mcq…so planning to leave more time for first three testlets …just hoping i won't get distracted and waste my time…also planning to drink a lot of coffee before exam so i will stay alert

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

[Hunnsterr]

Thanks @NYCaccountant 🙂

I got a qs wrong because i thought accepting a free $75 football game ticket from a client would impair independence.

BEC - 88
REG - 72, 78
FAR - 75
AUD - 64, 64, 3rd attempt!!!

"A day of worry is more exhausting than a day of work" - John Lubbock

[Anonymous]

Guys, i have a question on sampling

An auditor established TM=$60,000 with an account balance of $1,000,000. The auditor selected every 20th item from the population that represented the asset account balance and discovered overstatements of $3,700 and understatement of $200. Under this circumstance, the auditor most likely would calculate that: it is not fairly presented.

the answer presented the calculation as:

1/20=0.05

(3,700-200)/0.05=70,000>60,000–> thus it is not daily presented

My question is what is this 0.05 represent for?

[NYCaccountant]

They tested every 20th account, so 1,000,000 value divided by 20= 50,000. 50,000/1,000,000= 5%

For that 50,000, you found that $3,500 was the misstatement, so you 3,500/50,000=7%, so ratio estimating is 7%*1,000,000=70,000, which is more than the tolerable misstatement, so the account is not fairly stated.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[NYCaccountant]

@Hunnster I'm not an auditor, but I have been taken out to lunch by some, some have bought me breakfast,etc. So I know a immaterial gift, dinner cannot impair independence, otherwise, they would not do it. And it's disclosed to partners of their firm, so I'm sure it's in the clear.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[riceperson]

@Huntsterr Thanks for the answer, I think I understand, though WTB must have one of them wrong.

Regarding your question as director of IC: I would have said it does impair independence just from the respect that the sister is in some kind of management position. It doesn't really say in the question if the sister is on the Audit Committee but by my logic I assumed that she was. If that is the case (and maybe I'm jumping to conclusions here), there would be an independence issue because you as an auditor are reporting to those charged with governance, and the sister is part of that category. Hence, reporting to your sister which would be a violation of independence.

But don't quote me on it, that's how I would've came to the answer if presented on the test.

FAR 69, 83
AUD 85
BEC 80
REG 82
FINISHED

[Anonymous]

making decent progress in AUD

the practice sims I have done are pretty damn scary. they seem to require much higher levels of understanding than you can hope to gain from studying a simple review course or taking a class. like if I had audit experience, I'm sure I'd know the answers to these sims, but without it I'm just kind of stumbling through the questions? I don't feel like learning the material has helped me understand these things.

I dunno, I guess I'm probably overthinking it a bit. I don't do awful on the sims, but I do feel like I am leveraging a tiny bit of information to answer huge questions, leading to lots of moments where my thinking is something like, “yeah, that…sounds about right, I hope?” when I would really like to be like “this is the correct answer because X, Y, and Z”

it's almost like you need that oh-so-important professional judgment auditors exercise to answer the sims, but it's hard to make professional judgments when you aren't a professional…

[thechapman]

@dragnets – Is it true that FAR knowledge is pretty beneficial in the audit sims? I just hopped over to studying for audit the other day after taking FAR. Just curious if that's really the case.

Passed - 2014

[funtiks]

consistently scoring 75-80 on NINJA MCQ

80-85 on WTB MCQ

90-95 on Becker MCQ

i feel comfortable with most MCQs, but i feel like if I get unlucky with the SIMS again ill fail

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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