AUD Study Group October November 2013 - Page 33

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  • #478206
    lvr21
    Member

    I am needing some major motivation this morning..

    I dropped my daughter off at daycare and she started crying for me! It was everything I had in me to get in the car and drive off….. I just want to go get her…..

    anyone else feel like this?

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

    #478254
    lvr21
    Member

    I am needing some major motivation this morning..

    I dropped my daughter off at daycare and she started crying for me! It was everything I had in me to get in the car and drive off….. I just want to go get her…..

    anyone else feel like this?

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

    #478208
    Anonymous
    Inactive

    Does anyone else feel like they just took a course in Chinese after doing Becker Audit Chapter 5 or is it just me?

    #478256
    Anonymous
    Inactive

    Does anyone else feel like they just took a course in Chinese after doing Becker Audit Chapter 5 or is it just me?

    #478210
    LT-P
    Member

    @JTS254 – same here. I never fully understand the concepts until my final review stage, after making my own notes and going through the MCQ's a second time. Seems to be working for us so far!

    And yes, I'm banking on having a couple of hours for the sims, I just need to learn the setup of the AL.

    Thanks!

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

    Ethics: TBD

    #478258
    LT-P
    Member

    @JTS254 – same here. I never fully understand the concepts until my final review stage, after making my own notes and going through the MCQ's a second time. Seems to be working for us so far!

    And yes, I'm banking on having a couple of hours for the sims, I just need to learn the setup of the AL.

    Thanks!

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

    Ethics: TBD

    #478212
    Anonymous
    Inactive

    @CPA Mommy – I have 3 daughters – ages 8, 7 & 3. I don't have a lot of help from my husband from spring to fall because he is in road construction and travels all over for work. I work at a smaller firm (about 50 employees) and was fortunate to be able to take May-August off to study (I only do tax so it's a slow time for the department anyway). I brought my 3 kids to daycare 4 days a week for 5 hours a day and used 100% of that time to study. The weekends before my tests I got a babysitter and crammed 8-10 hours a day. I managed to pass 2 sections with that routine this summer but am now back to work full time and it is definitely hard to get study time in. It has been slower this month at work so i've been able to get some studying in but I don't know how it will go if I don't pass AUD next week. I'm just hoping I can do it and then will try to pass FAR by January but if that doesn't happen I will retake in May. I wish now I would've pushed myself harder in August and taken AUD as scheduled but I didn't feel quite ready so I rescheduled. I knew it would be challenging with work + kids + studying but it's worse than I thought! I just take it day by day and try to study as much as I possibly can.

    #478260
    Anonymous
    Inactive

    @CPA Mommy – I have 3 daughters – ages 8, 7 & 3. I don't have a lot of help from my husband from spring to fall because he is in road construction and travels all over for work. I work at a smaller firm (about 50 employees) and was fortunate to be able to take May-August off to study (I only do tax so it's a slow time for the department anyway). I brought my 3 kids to daycare 4 days a week for 5 hours a day and used 100% of that time to study. The weekends before my tests I got a babysitter and crammed 8-10 hours a day. I managed to pass 2 sections with that routine this summer but am now back to work full time and it is definitely hard to get study time in. It has been slower this month at work so i've been able to get some studying in but I don't know how it will go if I don't pass AUD next week. I'm just hoping I can do it and then will try to pass FAR by January but if that doesn't happen I will retake in May. I wish now I would've pushed myself harder in August and taken AUD as scheduled but I didn't feel quite ready so I rescheduled. I knew it would be challenging with work + kids + studying but it's worse than I thought! I just take it day by day and try to study as much as I possibly can.

    #478214
    MrsBing
    Member

    I hope this doesn't bite me in the butt, but I'm going to slightly change my study stragety. I usually listen to the lecture, then read the book in 3 parts and do the MCQ's after each part, so the book is still fresh in my mind. I'm realizing that when I'm reading, I'm not remembering anything from the lecture. So I'm going to cut out the lecture and just read the book and focus more on reviewing notes, then do MCQ's.

    Does anyone else have a hard time actually remembering the lecture?

    Becker, Wiley Test Bank, and Ninja 10 Point Combo!

    FAR: 89
    REG: 87
    AUD: 92
    BEC: 75
    Ethics: 90

    Licensed Arizona CPA

    #478262
    MrsBing
    Member

    I hope this doesn't bite me in the butt, but I'm going to slightly change my study stragety. I usually listen to the lecture, then read the book in 3 parts and do the MCQ's after each part, so the book is still fresh in my mind. I'm realizing that when I'm reading, I'm not remembering anything from the lecture. So I'm going to cut out the lecture and just read the book and focus more on reviewing notes, then do MCQ's.

    Does anyone else have a hard time actually remembering the lecture?

    Becker, Wiley Test Bank, and Ninja 10 Point Combo!

    FAR: 89
    REG: 87
    AUD: 92
    BEC: 75
    Ethics: 90

    Licensed Arizona CPA

    #478216
    titine
    Participant

    In chapter 1, Becker shows the sample of the report that has 2 separate paragraphs for manager's and auditor's responsibilities. But in chapter 5, sample of combined report for audit of financial statements and internal control over financial reporting for issuers puts both of them into Introductory paragraph. Is it because the one in chapter 5 in old format?!

    #478264
    titine
    Participant

    In chapter 1, Becker shows the sample of the report that has 2 separate paragraphs for manager's and auditor's responsibilities. But in chapter 5, sample of combined report for audit of financial statements and internal control over financial reporting for issuers puts both of them into Introductory paragraph. Is it because the one in chapter 5 in old format?!

    #478218
    MrsBing
    Member

    I'm getting confused on the difference of Analytical Procedures, Substantial Analytical Procedures, Substantial Procedures and Risk Assessment Procedures.

    Can some give me a defintion of each and some examples?

    Becker, Wiley Test Bank, and Ninja 10 Point Combo!

    FAR: 89
    REG: 87
    AUD: 92
    BEC: 75
    Ethics: 90

    Licensed Arizona CPA

    #478265
    MrsBing
    Member

    I'm getting confused on the difference of Analytical Procedures, Substantial Analytical Procedures, Substantial Procedures and Risk Assessment Procedures.

    Can some give me a defintion of each and some examples?

    Becker, Wiley Test Bank, and Ninja 10 Point Combo!

    FAR: 89
    REG: 87
    AUD: 92
    BEC: 75
    Ethics: 90

    Licensed Arizona CPA

    #478220

    Analytical procedures are ratio and trend analysis. Substantive analytical procedures are just analytical procedures used for substantive testing. For planning purposes/risk assessment procedures, analytical procedures cement the auditor's understanding of the financial statement elements' relationships and help identify any unusual relationships that might require further testing. For substantive testing, analytical procedures are basically a reasonableness test. Substantive procedures are made up of analytical procedures and tests of details. They test whether there may be any misstatements.

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