[jeff]

Welcome to the Q4 2017 CPA Exam Study Group for AUD. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your AUD exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

[SallyCPA]

How were the sims @cmckenzie?

[cmckenzie]

I felt pretty comfortable with the sims because most of them were tasks that I would complete on an actual audit and the others were pretty straightforward. I think I preferred the sims to the multiple choice, honestly! I used all my time though.. I know some people said they went in, rocked it, had an hour left on the timer… not me. I took my time.

[Vinti]

Hello everyone, I started studying for AUD two days back and I am struggling with difference between SASs and GAAS. In becker A1- module 1 it says for the audit of non-issuer we use SASs, right? and in A1- module 4 it says for unmodified opinion for non-issuers we use GAAS standards. Can someone tell the difference between two? or may be if I misunderstood, can someone correct me? Thanks!

[Jen-J]

Hi there! I'm starting AUD today and testing in January. (Waiting on my book, the new Becker books are available later this week.)

[nvm5223]

Just took AUD today. This was my retake from my August attempt. My test seemed more “there's only one good answer” like you really see in Becker rather than “there's two good answers and flipping a coin for the right answer”. Sims were doable but I think mentioned this in my August post make sure you know your FAR concepts. They go hand in hand with AUD. Good luck!

[SallyCPA]

@nvm5223 how do you think the sims compared to last time you took it?

[Kev]

What percentage do you guys think I need to maintain in the Becker Progress Exams to feel comfortable that i know the information and I am ready to take the exam?

[nvm5223]

@SallyCPA yeah I think I did better this time. I feel like they were more manageable this time and on topics I really knew.

[Reema]

Hello,

There is a question on inventory reconciliation in AICPA sample test. I was not able to copy paste the question but here is the gist:-

There are 1000 widgets as per perpetual inventory listing whereas as per actual physical verification, there are only 250 widgets. The difference of 750 is because there are certain items on consignment with customer. The cost of widgets is $4.99 per widget. They have made adjustment of ($ 3,743) i.e (750*4.99) to inventory balance.

I don't understand why 3,743 is deducted, since inventory is properly recorded in books (i.e 1000@ 4.99).

Thanks

[Sir Plus]

Hey Ninjas,

I'm taking AUD on Decemeber 7th, in Los Angeles. Anyone want to study together?

I'm using Roger software, don't really care what software you have.

[dab88]

All of my sims on the research for audit have been AU-C and it is given in the question. On the aicpa practice exam that portion is not given. Does anyone have tips on when to look in au-c eat at etc?

[Sir Plus]

All of my sims on the research for audit have been AU-C and it is given in the question. On the aicpa practice exam that portion is not given. Does anyone have tips on when to look in au-c eat at etc?

In response to above… AU-C is the primary source of authoritative literature for audits of non-issuers.

AU-C US Auditing Standards
PCAOB-AS PCAOB Auditing Standards
AT-C Attestation Services
AR-C Statements on Standards for Accounting & Review Services
ET Code of Professional Conduct
BL Bylaws
VS Statements on Standards for Valuation Services
CS Statement on Standards for Consulting Services
PFP Personal Financial Planning
CPE Continuing Professional Education
TS Tax Services
PR Peer Review Standards
QC Quality Control Standards

[Bhalla Singh]

Hi Everyone…

Been lurking for a while and thought i'd final post. But I've been studying about a chapter a week for 6 weeks for Aud. and have my exam Nov. 22nd. Just took my first practice and got a 68, any tips on how to increase that, with less then 2 weeks left?

I audit on a daily basis, so lots of i understand but its the nitty gritty that i get caught up. I used becker, and have supplemented with the ninja notes

thanks

[Andria – Another71]

REG Test Your Might – NINJA MCQ

Post your answer in the facebook thread for a chance to win a NINJA Sniper Package of your choice (Book, Notes, Audio, Videos, MCQ/SIMS, Audio, & Flashcards – $197 Value).

One winner will be randomly chosen on Friday(ish). HIYA!

\

[Vinti]

@sir plus and @Bianca Nardella, my test is scheduled for dec 8th. and I am using becker. I have just gone through A1-A3 lectures only. I will start MCQs today right away from A1. Whats your status? And as far as new audit report for Public co. concerns, will it be tested from dec exam or jan 2018 exams?

[Author]

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