AUD Study Group October November 2013 - Page 55

Viewing 15 replies - 811 through 825 (of 1,096 total)
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  • #478550
    LT-P
    Member

    just in case anyone has been getting confused about prospective F/S, I found this on the Internet and figured I'd share:

    you can see a forecast show up in a set of financials released to the public, but not a projection.

    a projection is internally used, think of a projection as a “what if” statement. you wouldnt want people using a “what if” to make financial decisions.

    WHAT IF THE PROJECTOR FALLS OFF THE TABLE!

    a forecast is the best guess given the information that is available to the public. This is what you see on MSNBC when Jim Cramer talks about what he thinks is going to happen.

    THE WEATHERMAN'S FORECAST IS TOLD TO EVERYONE BECAUSE HE BELIEVES IT TO BE ATTAINABLE

    good luck to everyone!

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

    Ethics: TBD

    #478583
    LT-P
    Member

    just in case anyone has been getting confused about prospective F/S, I found this on the Internet and figured I'd share:

    you can see a forecast show up in a set of financials released to the public, but not a projection.

    a projection is internally used, think of a projection as a “what if” statement. you wouldnt want people using a “what if” to make financial decisions.

    WHAT IF THE PROJECTOR FALLS OFF THE TABLE!

    a forecast is the best guess given the information that is available to the public. This is what you see on MSNBC when Jim Cramer talks about what he thinks is going to happen.

    THE WEATHERMAN'S FORECAST IS TOLD TO EVERYONE BECAUSE HE BELIEVES IT TO BE ATTAINABLE

    good luck to everyone!

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

    Ethics: TBD

    #478552
    Masry1989
    Member

    @barelystayingsane thanks a lot , unfortunately I will take Audt in Nov. , and I wonder whether u mean this link or another ??

    Created with Compare Ninja

    #478585
    Masry1989
    Member

    @barelystayingsane thanks a lot , unfortunately I will take Audt in Nov. , and I wonder whether u mean this link or another ??

    Created with Compare Ninja

    #478554

    Yes, that one

    #478587

    Yes, that one

    #478556
    Jsingh23
    Member

    Just got out of my exam….I felt like the multiple choice questions were fairly similar to Becker and WTB…felt really confident after the 90 mc questions…but I def struggled with the simulations. Two of the simulations were ridiculously hard and I def had to guess on most of it. I also had 2 AL sims but I'm hoping one gets thrown out because I couldn't find it for over 30 minutes.

    @barely and anyone else who recently took the exam…did you guys struggle with sims as much as me or were the fairly easy for you….I spent a lot of time working on sims but didn't come across anything in my review as i did today.

    AUDIT-89
    BEC-83
    REG-78
    FAR- April 19

    #478589
    Jsingh23
    Member

    Just got out of my exam….I felt like the multiple choice questions were fairly similar to Becker and WTB…felt really confident after the 90 mc questions…but I def struggled with the simulations. Two of the simulations were ridiculously hard and I def had to guess on most of it. I also had 2 AL sims but I'm hoping one gets thrown out because I couldn't find it for over 30 minutes.

    @barely and anyone else who recently took the exam…did you guys struggle with sims as much as me or were the fairly easy for you….I spent a lot of time working on sims but didn't come across anything in my review as i did today.

    AUDIT-89
    BEC-83
    REG-78
    FAR- April 19

    #478558
    Masry1989
    Member

    hello guys ,

    please I wonder whether anyone can recommendfor me a schedule to study AUD AND FAR noting that I will sit for the exam at 22/11 FAR and 27 AUD ??

    ANY recomedations?

    #478591
    Masry1989
    Member

    hello guys ,

    please I wonder whether anyone can recommendfor me a schedule to study AUD AND FAR noting that I will sit for the exam at 22/11 FAR and 27 AUD ??

    ANY recomedations?

    #478560

    @Masry1989 I would not recommend that at all. Have you started studying yet? I don't think a month is enough time to study for FAR, let alone FAR AND AUD, unless you're a super genius. Maybe you could do it if you didn't have anything else going on (work, etc.).

    #478593

    @Masry1989 I would not recommend that at all. Have you started studying yet? I don't think a month is enough time to study for FAR, let alone FAR AND AUD, unless you're a super genius. Maybe you could do it if you didn't have anything else going on (work, etc.).

    #478562
    Determined CPA
    Participant

    @barelystayingsane – regarding your response to avenger on independence- I thought that the Ninja audio said something about independence not being impaired if you didn't know about your parents' financial interest in a client. Something about if your parents refuse to tell you their financial interests and you do not know about them, then you are still independent….am I confusing this??

    Thanks for the help.

    A - 75
    B - 78 God is good.
    F - 77 Answered prayers.
    R - 84! Done!!

    Paperwork sent - waiting for license!!
    Still on a cloud and in shock. Through God, all things will happen.

    #478595
    Determined CPA
    Participant

    @barelystayingsane – regarding your response to avenger on independence- I thought that the Ninja audio said something about independence not being impaired if you didn't know about your parents' financial interest in a client. Something about if your parents refuse to tell you their financial interests and you do not know about them, then you are still independent….am I confusing this??

    Thanks for the help.

    A - 75
    B - 78 God is good.
    F - 77 Answered prayers.
    R - 84! Done!!

    Paperwork sent - waiting for license!!
    Still on a cloud and in shock. Through God, all things will happen.

    #478564

    @Determined CPA no, I think you are correct. My mistake! Thanks for catching that!

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