[jeff]

Trying something new …

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

[Anonymous]

awwwww i was thinking about you as well! was like where is she??? My exam was not that good compared to the way i expected …those sims were horrible , whereas mcq were manageable .

So when are you starting to prepare yourself for AUdit? i am just so tiered , i might sleep and watch real horror tonight “parnormal activity” . I had enuough of Audit horror ..lol

talk to you soon and start studying soon.

take care

xxxxxxxxx

[silliepanda]

I am starting today. I did everything I had to do this weekend today so I have a schedule that I will still get 2 weeks of review. Think my mind is finally back to it. I have to do it!!! Enjoy your day and enjoy your sleep 🙂

BEC - TOO MANY FAILS TO LIST! July 2015 I WILL GET IT!
AUD - AUG 2015- NEVER PASSED!
FAR - LOST CREDIT
REG - PASSED

[silliepanda]

OK so the plan today is to do notes for chapters 1 & 2. How is everyone else doing?? Good Luck!

BEC - TOO MANY FAILS TO LIST! July 2015 I WILL GET IT!
AUD - AUG 2015- NEVER PASSED!
FAR - LOST CREDIT
REG - PASSED

[NySinghCPA1985]

I have completed doing all Audit Mcq's in all chapters using Becker. Currently doing final exams. Contemplating on when should I schedule my exam. Any suggestions on how much review should i do before i sit in for the exam? I want to keep reviewing everything but that will take alot of time. I also don't want to wait too long that i start forgetting this stuff. Its voluminous. I'm working full time and can only manage to set out limited time each day for study.

Any advice is appreciated. Thanks

FAR 1/30/14 86 beast is slayed
REG 5/30/12 81 expired :/ Retake April or May 2014
AUD 5/24/13 85
BEC 10/07/13 80

[NySinghCPA1985]

I have completed doing all Audit Mcq's in all chapters using Becker. Currently doing final exams. Contemplating on when should I schedule my exam. Any suggestions on how much review should i do before i sit in for the exam? I want to keep reviewing everything but that will take alot of time. I also don't want to wait too long that i start forgetting this stuff. Its voluminous. I'm working full time and can only manage to set out limited time each day for study.

Any advice is appreciated. Thanks

FAR 1/30/14 86 beast is slayed
REG 5/30/12 81 expired :/ Retake April or May 2014
AUD 5/24/13 85
BEC 10/07/13 80

[Sunkist]

How much of A6 from Becker is on the exam??? Also, how much effort should i put in going over the Ratios??? Any assistance would be helpful.

[Anonymous]

@Sunkist: When i took 1st time i had few questions however i didnt do well on that topic. So, when i took 2nd time they asked me bunch of questions (Some of them i never seen in becker but related to ch-6). I think its a luck of draw….

[sarah210]

I'm wondering if I'm being lulled into a false sense of security by AUD. I'm taking the test on Nov. 15th. So far I have studied A1, A2, and A3. The “problem” I'm having is a strange one, especially considering my worst accounting grade in college was in audit: I'm doing really really well on the homework the first time through. Like in the 80s. Sometimes in the 90s.

I don't know why this is happening, and it makes me nervous. It's not like I'm some kind of insane genius either. When I studied for FAR, I was getting in the 30s-40s first time through the homework. Does AUD get harder? I keep hearing that A4 is something that should be really focused on.

REG- 53, 91
BEC- 88
FAR- 62, 85
AUD- 85

Ethics- 93

[Anonymous]

The SEC has historically raised questions regarding the independence of firms that derive a

significant portion of their total revenues from one audit client or group of clients because

the SEC staff believes this situation causes CPA firms to:

A. Profit excessively from a client or group of clients in contravention to federal law.

B. Depend too heavily on the fees generated by the client or clients.

C. Have a mutuality of interests with the client or group of clients.

D. Place too heavy a burden on the client’s financial position.

Does anyone know the answer ? B or C

[Anonymous]

A former client of Charlie Hayes, CPA, filed a lawsuit in state court alleging that Charlie failed to exercise due care in the performance of tax and compilation services performed in 2009. Charlie firmly believes that he discharged his professional responsibilities with competence and diligence. In his defense, he plans to admit to making one minor error which he says was inadvertent and did not have a material effect on the client’s taxes or financial position. In light of his admission, has Charlie complied with the AICPA Code’s standard of due care and why?

A. No, because he obviously did not discharge his professional responsibilities with

competence and diligence.

B. No, because Charlie did not perform professional services to the best of his abilities.

C. Yes, because he has chosen to be honest in reporting that he made an error.

D. Yes, because the AICPA standard for due care does not require CPAs to be infallible.

Which one is right ? B or D

[Anonymous]

B: Depend too heavily on the fees generated by the client or clients.

B. No, because Charlie did not perform professional services to the best of his abilities – becuase somewhere in becker i read there should be no negligance on CPA part. but i am bit confused becuase this question says that it did not have a material effect on the client’s taxes or financial position..

BTW- what is the correct aswer?

[Anonymous]

Jones, a consulting manager of Miller & Company, is considering membership on an audit

client’s board of directors. Jones does not provide any services to this client. Which of the

following statements describing this situation is true?

A. Jones may join the board since he is not an auditor.

B. Jones may join the board since he is not a partner.

C. Jones may not join the board since the rules prohibit all professionals in the firm from

serving as a director of a client.

D. Jones may not join the board since only non-managerial employees of the firm may

serve as client management.

Becker & Smith, CPAs, and its client, Troper Lighting, are discussing a possible advisory

engagement in which the firm would review Troper’s account receiveable (A/R) system

and recommend changes that would improve the company’s collection process and speed

collections. Troper proposes to pay Becker & Smith a fee based on improved performance

in A/R collections. Would such an arrangement raise any ethical concerns?

A. No, but only if Troper is a publicly traded company subject to SEC and PCAOB

rules.

B. No, provided Becker & Smith documents the arrangement clearly in the engagement

letter.

C. Yes, but only if Becker & Smith was also Troper’s auditor.

D. Yes, if Becker & Smith also performed a review engagement for Troper.

A CPA Firm performs the annual audit of The Leahy Group, a private company. The client

has asked the Firm to perform a study to determine whether the company would qualify for

certain tax credits granted by the City. The Firm will receive 15 percent of any tax credits

obtained by the company and no fees if the credits are denied. The Firm does not believe

the results of its services would be substantively reviewed by city officials. Would

performance of the service be permitted under the AICPA Code of Professional Conduct?

A. Yes, but only because the service is tax-related.

B. Yes, if the projected fees would be immaterial to the Firm.

C. No, because the fee arrangement is a prohibited contingent fee.

D. No, because the service would be considered to be a management function

[Anonymous]

@CPA & NAM – D or B

[Anonymous]

@1BENTCPA –for which question?

please help me to find the answers for those questions

[sbarkerACPA]

@cpapass what review material are you using?

BEC: 74;81
AUD: 77
REG: 71; 80
FAR: 78
License for CPA----APPROVED
CPA Class of 2013

[Author]

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