[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

[lmberrytoo]

@ 10Key and Clarissa, thanks for the insight. This is my first exam. I haven't purchased any other MCQs other than the ones that come with Bisk. It's so much material to remember.

Did you use the NINJA Notes when you took it?

[lmberrytoo]

@ 10Key and Clarissa, thanks for the insight. This is my first exam. I haven't purchased any other MCQs other than the ones that come with Bisk. It's so much material to remember.

Did you use the NINJA Notes when you took it?

[lvr21]

how did everyone do tonight or even this past weekend???

{R: PASSED!! (I passed one!)}
{B: PASSED!! (Halfway there!)}
{F: PASSED!! (1 left!!!)}
{A: PASSED(I am done!!)}

[lvr21]

how did everyone do tonight or even this past weekend???

{R: PASSED!! (I passed one!)}
{B: PASSED!! (Halfway there!)}
{F: PASSED!! (1 left!!!)}
{A: PASSED(I am done!!)}

[10keyLeah]

@imberrytoo – I used ninja notes, but not as much as I should have. That wasn't really the problem for me though. I did alright on MCQ's but got messed up on SIMS. Are you familiar with any of the FAR material? It helps to know some FAR since some of that comes up in AUD.

@lvr21 – I studied all day on Sunday. I usually take Saturday off to get stuff done. I'm going through Wiley TB right now and brushing up on some FAR topics that connect with AUD. How are you doing with study?

Ninja Combo, Yaeger, Wiley -- Licensed CPA, May 2015

[10keyLeah]

@imberrytoo – I used ninja notes, but not as much as I should have. That wasn't really the problem for me though. I did alright on MCQ's but got messed up on SIMS. Are you familiar with any of the FAR material? It helps to know some FAR since some of that comes up in AUD.

@lvr21 – I studied all day on Sunday. I usually take Saturday off to get stuff done. I'm going through Wiley TB right now and brushing up on some FAR topics that connect with AUD. How are you doing with study?

Ninja Combo, Yaeger, Wiley -- Licensed CPA, May 2015

[Mel]

@lvr21 I spent the weekend (and most of last week) cleaning and getting Fall/Winter clothes for my daughter so i only had time to listen to the NINJA audio. My house was a mess and contributing to my FAR fail funk so i had to nip that in the bud. I'm feeling much better now and am getting back on track, i hope. This weekend needs to be a power weekend for me though. Going to try to get in 2-3 every weekday and as much as i can on the weekends. How is your studying going?

[Mel]

@lvr21 I spent the weekend (and most of last week) cleaning and getting Fall/Winter clothes for my daughter so i only had time to listen to the NINJA audio. My house was a mess and contributing to my FAR fail funk so i had to nip that in the bud. I'm feeling much better now and am getting back on track, i hope. This weekend needs to be a power weekend for me though. Going to try to get in 2-3 every weekday and as much as i can on the weekends. How is your studying going?

[jeff]

Congrats to NINJA Monique for passing AUD!

HiYa!

https://www.another71.com/ninja-cpa-blogger-monique-4/

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

[jeff]

Congrats to NINJA Monique for passing AUD!

HiYa!

https://www.another71.com/ninja-cpa-blogger-monique-4/

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

[lmberrytoo]

@10Key…No I haven't looked at any material for FARs. AUD is my first section. I'm studying with Bisk. I'm reading the chapters and answering the questions. I am listening to the audio as well. I fell behind with my study plan and my class has ended. So, I'm doing a self-study now.

[lmberrytoo]

@10Key…No I haven't looked at any material for FARs. AUD is my first section. I'm studying with Bisk. I'm reading the chapters and answering the questions. I am listening to the audio as well. I fell behind with my study plan and my class has ended. So, I'm doing a self-study now.

[LT-P]

Wellp .. I can already tell A4 is gonna suck ..

I'm not really understanding the difference between A and B. Can someone please help me?

On receiving a client's bank cutoff statement, an auditor most likely would trace:

a. Prior-year checks listed in the cutoff statement to the year-end outstanding checklist.

b. Deposits in transit listed in the cutoff statement to the year-end bank reconciliation.

c. Checks dated after year-end listed in the cutoff statement to the year-end outstanding checklist.

d. Deposits recorded in the cash receipts journal after year-end to the cutoff statement.

Choice “a” is correct. The auditor should obtain bank cutoff statements that include transactions for 10 to 15 days after year-end. The outstanding checks and deposits in transit at year-end on the bank reconciliation should agree with the information in the bank cutoff statement.

Choice “b” is incorrect. Companies may have a tendency to overstate their cash balance. A company that is trying to improve its balance sheet will have a tendency to accelerate recording of deposits, so a deposit that wasn't really made until January might be erroneously listed as a deposit in transit at year-end. Tracing deposits from the cutoff statement to the year-end bank reconciliation won't identify this error, since there is no mention in this option of identifying the actual dates the deposits were made.

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[LT-P]

Wellp .. I can already tell A4 is gonna suck ..

I'm not really understanding the difference between A and B. Can someone please help me?

On receiving a client's bank cutoff statement, an auditor most likely would trace:

a. Prior-year checks listed in the cutoff statement to the year-end outstanding checklist.

b. Deposits in transit listed in the cutoff statement to the year-end bank reconciliation.

c. Checks dated after year-end listed in the cutoff statement to the year-end outstanding checklist.

d. Deposits recorded in the cash receipts journal after year-end to the cutoff statement.

Choice “a” is correct. The auditor should obtain bank cutoff statements that include transactions for 10 to 15 days after year-end. The outstanding checks and deposits in transit at year-end on the bank reconciliation should agree with the information in the bank cutoff statement.

Choice “b” is incorrect. Companies may have a tendency to overstate their cash balance. A company that is trying to improve its balance sheet will have a tendency to accelerate recording of deposits, so a deposit that wasn't really made until January might be erroneously listed as a deposit in transit at year-end. Tracing deposits from the cutoff statement to the year-end bank reconciliation won't identify this error, since there is no mention in this option of identifying the actual dates the deposits were made.

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[Anonymous]

@3down – this question is one where you have to determine the BEST right answer. An auditor would normally check both deposits and checks on the cutoff bank statement. But they would verify the checks written at year end were cashed within the first few days of the year to make sure expenses weren't overstated. Also, by verifying the checks is a way to detect lapping.

[Author]

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