[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/

[Anonymous]

For bookkeeping services –

It will impair independence if bookkeeping services include authorizing, executing transaction on behalf of client, preparing source documents at any time , even if it's NOT during the audit. (So as long as it company is an attestation client)

ANY bookkeeping services during an audit (even if it doesn't include the above powers).

Is this correct?

[Anonymous]

Is anyone having issues with Wiley CPA Excel? I take AUD on Wednesday and I have encountered a couple issues with this section of Wiley. My biggest concern right now is that I have taken 3 practice exams, got an 80,80,83 which I am pretty comfortable with. I go to my review section and it says I got a 56,56,55 which is not ok! I can review them and my score says 80,80,83 in them. I am worried it is telling me I am getting these questions right when they are really wrong and I am underprepared for my exam. I am starting to doubt the program due to issues I have already found (ex. Two answers are exactly the same and one is wrong and one is right). The customer service is closed today so I am curious if anyone else has had these issues.

[peko8535]

@ Bulldozer_CPA Thanks for the advice, I see you take AUD today. I have it tomorrow, how'd it go?

FAR - Passed! 8/23/13 (Becker Self Study and Ninja Audio)
REG - Passed! 7/24/13 (Becker Self Study and Ninja Audio)
AUD - Passed! 8/25/14 (Becker Self Study and Ninja Audio)
BEC - Passed! 11/23/14(Becker Self Study and Ninja Audio)

Now Gimme my Bonus!!!

[Anonymous]

Alright I am not sure what to expect from the simulations. I just took REG and got a 58%. I have literally only seen 1 of the 6 simulations I saw on that exam. What should I expect from an AUD sim?

[Anonymous]

Same, the simulations are an crap shoot. You will rarely ever see the same simulations on the WTB or Ninja MCQ on the actual exam. You scored a 58% on the actual exam or on the practice exam?

[shankysays]

I have done over 900 Ninja MCQs this weekend alone…I think my brain is turning to mush.

BEC - 72, 82! ✓
FAR - 80! ✓
AUD - 70, 92! ✓
REG - 74, 78! ✓

Licensed CPA 5/2015

[Anonymous]

Good stuff, I do about 200 MCQs a day but that is with me studying for FAR and AUD at the same time. Make sure you mix some simulations as well. EVERYTHING is fair game including material from FAR on the simulations.

[shankysays]

You're right! I'm going to switch gears over the next couple of days and focus on more simulations. Ugh, I hate them so much.

BEC - 72, 82! ✓
FAR - 80! ✓
AUD - 70, 92! ✓
REG - 74, 78! ✓

Licensed CPA 5/2015

[Anonymous]

@peko8535 My pleasure…. I think my exam experience was fine. An exam is an exam. It was out of my hands the second I submitted my exam. Kick arse!!

@shankysays The MCQ that you posted is a good one. The rationale for doing AP on revenue is that it is presumed to be a high-risk item in any financial audit. Payroll cycle transactions are fairly low risk given the predictability and the ease of applying audit procedures. Hope this helps.

[syoung123]

@cpastudent – I agree that executing/authorizing client transactions and preparing source documents are never allowed, since these are management functions and impair independence. However, as I understand it, bookkeeping is a allowed for audits of non-public companies (under AU-C standards), but prohibited for issuers (under PCAOB standards).

REG (July 2014) - Pass
AUD (Aug 2014) - Pass
FAR - (Nov 2014) - Pass
BEC - (Dec 2014) - Pass

Licensed Colorado CPA (February 2015)

DONE!!!!

[Anonymous]

I'll see you guys on the 1st 🙂

[Anonymous]

Exam tommorrow!!!! What is everyone focusing the day before the exam?? Would taking progress tests help the most of individual sections?

[Tobecpa1]

Hi,

On Ninja notes – covered member's spouse owns 5% of client's stock, then CPA's independence is impaired. So, if covered member's spouse owns 3% of client's stock, then NO independence impaired in this case?

Thanks!

[YoungNC]

I have my Auditing Test Friday, feeling great about 5 out of 6 of the chapters. Audit Evidence is still tricky for me, I am studying full time so still have time to put some serious hours in before the exam.

Does anyone know if there is a way to buy extra MCQ just for the Audit Evidence section instead of buying MCQ for the entire Audit section?

Thanks for your help

[working4that75]

I'm taking AUD on the 30th. I have been studying for about a month and I feel so so right now. Audit Evidence has been a tough section for me too, but I'm just working the Becker MCQs and reading the book until it starts to stick. I am glad somebody asked about whether we should memorize the code sections for authoritative literature. I can save myself some time! Good luck to everyone!

[Author]

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