[jeff]

Post by Another71.

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Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

[Anonymous]

No, it's 2016-02-29, couldn't be sept

[jstay]

I agree with you exactly! my tax class was terrible (don't tell my teacher, he hired me at his firm ;p — which is awesome, just not a good class) im taking AUD 1/12 and REG probably late February just to take it and get experience. hopefully I can pass one of these (hopefully its audit) and then retake if I have to after I get tax experience this tax season.

[Anonymous]

I couldn't take a test for just getting experience, the chance of failing is too high, my ego can't handle lol

[jstay]

lol yeah I hear ya. im kind of the same way but at the same time..who knows what questions your going to get. I would have done it in December for AUD but stupid NASBA said they weren't extending the window and ended up doing it.

[jstay]

quick quiz! name the 6 considerations an auditor makes about an entitys ability to concern

[pengzars]

you mean going concern??

BEC--83
REG--83
FIN--77
AUD--68-74-Q1/2015
MAY THE FORCE BE WITH US!!!

[jstay]

lol yeas, sorry. the 6 considerations about an entitys ability to continue as a going concern

[GoVPI]

Uggggh……. I've screwed myself! I paid for AUD way back in June and thought I could handle school (I just graduated last weekend)+ work+ CPA. I should've waited. I take my test on Jan 2nd……… I have an ok shot since I just took my audit undergrad class and I'm decent at internal control cause my professor hammered it in our head. Im scared about the reports though A2 really. Im in A5 and plan to finish the lectures by Saturday so I can spend the entire week and a half to review.

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[jstay]

CPAin14, kind of the same..just done with undergrad…don't even have the 150. are you in ny?

im starting A6 this weekend and hopefully finishing. so that will give me 3 full weeks for review and to hammer out as many mcq as possible. also taking off the 2 weeks before the exam to do nothing but study..its worked on the past 2 exams so hoepully on this one too

[pengzars]

An auditor’s purpose in reviewing the renewal of a note payable shortly after the balance sheet date most likely is to obtain evidence concerning management’s assertions about

a.Existence or occurrence.

b.Presentation and disclosure.

c.Completeness.

d.Valuation or allocation.

the answer is b, and explain is because the renewal of the note may provide an auditor with information on whether the note should be presented as a current or noncurrent liability.

so is there any relationship between review shortly after B/S date and verify current or noncurrent liability?

BEC--83
REG--83
FIN--77
AUD--68-74-Q1/2015
MAY THE FORCE BE WITH US!!!

[acctaks]

@anjanja Yeah, I was an auditor this past year and I didn't see one client without minutes. They are recorded at every meeting and we read them before fieldwork.

@CPAin14 internal control is just a small part. You definitely have to know the different engagements, what assurance goes along with them, the standards to use, the communication and documentation requirements. What will affect IR, CR, DR directly. You have to have all of the reports nailed down. Hm, the professional standards. Independence is a biggie!

My first testlet was pretty tough. I was marking questions and spent a lot of time on them. The second testlet was BANANAS! It was like it came from another planet. I honestly came out of the test angry and thinking that I bombed it for sure. I started studying to take it again the next day. The general consensus is that AUD is just a bizarre experience. Good luck and don't freak out if you think you failed. My problem is that I remembered all of the crazy questions I got and I also knew that I got them wrong. You've got this!

F-Pass
A-Pass
R-Pass
B-Pass

I'm a CPA!

[GoVPI]

@jstay, no im in VA. I have the 150, I stayed an extra semester to pick up the extra 18 credits i needed. Good luck, I just started my new job full time (thankfully I had an offer before I graduated and just came right in) so I can't take off before my exam. Gotta start paying back those student loans

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[GoVPI]

Im trying not to freak myself out like I did going into BEC, I didn't sleep for weeks leading up to it I was so nervous. Auditing is deep and really conceptual. I am just going to review as much as possible.

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[acctaks]

@CPAin14 I hope your JE skills are up to par. I've always been really good at JE's and I intentionally took FAR before AUD since they are directly related. That's why there's reference made to FAR lectures in the study material. I wouldn't be surprised to see a simulation directly related to FAR. Just a heads up.

F-Pass
A-Pass
R-Pass
B-Pass

I'm a CPA!

[Anonymous]

pengzars,

that's subsequent event, the note might have to be reclassified even though it was renewed after the bs date

[Author]

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