[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/

[SONA]

I wish you all, Best luck for this beast. Be confident! and exam will be scared of you. 🙂

[Recked]

I'll try to help on this one, hopefully you see it before your exam time.
Focus on what the actual question asks, don't get wrapped up in the what if's/what it isn't asking.

What was the effect of exercising the stock options?
Use process of elimination.

A. Debt-to-equity ratio decreased to 12%. Without doing any calculations, this is the only answer that could fit. Debt remains constant, equity increases. Debt/Equity has to decrease. 100/100=1 100/200=.5

B. Earnings per share increased by $0.33. More stocks outstanding = lower earnings per share.

C. Asset turnover increased to 5.4%. Asset turnover would decrease as assets increased when cash received from options. (I originally thought this would not change due to stock options but upon further review of the formula net sales/avg assets.)

D. No ratios were affected. Incorrect as ratios are always effected when more stock is issued or options are exercised. This is one of the reasons we have DEPS vs basic EPS.

[Recked]

also… GOOD LUCK TNCPA!!!Crush it, deep breaths, gain composure and relax as you read through the intro screens. Take the full 10 minutes to get comfortable.
Know you invested the time and studied hard and it will carry you.

[SONA]

Yes thanks for the help. Now that is making sense.

[tncpa2018]

Well. I just came home from my AUD exam. The exam is tough but not impossible. I believe had I studied more, I will be more confident about it.

My experience, first testlet seem to be harder than the second testlet. I don't know if it just because I know most of the question or I just totally bomb the first part.

TBS are hard like most everyone here said with their experience, but like I said they are not impossible and seem to be in line with the subject matter. Should be doable with proper studying. There are parts that I just totally guessed, but it's because I didn't paid more attention to them while studying.

I only have one DRS – thank goodness! That thing is a monster.

Hammer those MCQs. They are very good representation of what you will expect in the exam.

[SONA]

Sounds like u got it. Thanks for the update. Relax…..
What will be your next?

I am doing TBS practice from ninja. But It looks like they dont have DRS practice, so m jumping to Roger for atleast 10 of them. Then mixed questions and then I should call it good. The thing lowering my confidence is Assertions, like what audit procedure to be applied for say cutoff……… I am bad at picking right answer, although i know what exactly U PERCV means and and what a/c bal, transaction, pre. and disclosure they relate, but cant solve it. If those will be majority of questions on the exam then I know I have to take retake. Other than that I am averaging 80% overall. But not feeling confident. Anyways I have only 5 hours of study time.

[JMG]

Looking for advice, second go round with AUD on Jan. 2. Is it worth re-listening to the lectures again? I'm currently listening to them during my lengthy commute to and from work, but because I've already gone through all this once before it's beyond boring. I could potentially fall asleep at the wheel at this point.

[Recked]

Any reason you are not trying to retake before Dec 10th?

If I got a 62 on my hail mary attempt I would probably start from scratch and watch the lectures, read the book, and hammer the MCQ's.
If you don't think the lectures are helping you can just read the book and hammer the MCQ's.

It appears that similar to FAR, the devil is in the details for AUD, and the only way to get a passing score is to be familiar with all the material.
It helps to be able to limit the options down to 2 choices, but its the attention to detail that helps you pick the more correct answer from the 2 you have left remaining.
Currently averaging 75% through 810 questions, 19 days in to my hail mary.

[Bianca]

Hi everyone,

I am testing on Thursday the 7th and I feel somewhat good about this. Hopefully I am not jinxing myself, but out of BEC, FAR & AUD I find AUD to be the least difficult. I took a Becker practice exam yesterday & got a 70% and I am trending an 81% on ninja. For both BEC & FAR my trending scores were under 70% and I passed BEC(still waiting for FAR results). I am hoping I feel the same way after I finish the real exam.

Also, I find that all the simulation practice questions are not at all comparable to the real exam. Becker seems to be more realistic compared to Ninjas sims, but both seem to be too simple. If anyone has any last minute tips on nailing the sims, that would be greatly appreciated.

Thanks & good luck to everyone!

[JMG]

@reckedracing I just took FAR so wouldn't have enough time to get it in before the 10th. Makes sense about starting from scratch, just questioning if I'm getting anything out of the lectures.

This is a tough one for me to call, I felt good going into my last attempt, felt the exam was on the easy side and even finished an hour and a half early. But I've always been better with computation problems, hence the 62. I guess I'll just have to come up with creative ways to make the material stick this time around.

[jose_cpa]

you all are not alone.

I will pass this exam.

[jose_cpa]

Financial statement assertions are related to the financial statement. Relevant assertions are specific to the account balance.

[rusty67]

So I had a question. I was watching a video and he said that up to 20% of this AUD test will be “pretest questions” that wont even count towards the score. So what are these? Do all 4 parts have these pretest questions?

[tncpa2018]

Each exam have pretest questions and pretest simulation, (BEC also has a pretest written communication), but nobody knows which testlet in the exam they would be located (Except the pretest communication in BEC, it will of course be in the written communication part.)

Here’s the pamphlet from AICPA that explains how the exams are scored and how many pretest questions are in each exam.

https://www.aicpa.org/BecomeACPA/CPAExam/PsychometricsandScoring/ScoringInformation/DownloadableDocuments/How_the_CPA_Exam_is_Scored.pdf

[dab88]

Thanks @Defo

[Author]

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