AUD Study Group Q1 2015 - Page 77

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  • February 26, 2015 at 11:59 pm #650937
    Martin
    Participant

    swilk, the only thing I know is that it is better to feel uncertain once you take the Audit exam. There is an inverse correlation between feeling bad a bout passing, and the actual result. Just like tolerable misstatement, or DR vs substantive testing.

    Through God all things can happen!

    “You never fail until you stop trying.”
    ― Albert Einstein
    When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
    “Just keep swimming, just keep swimming.”

    FAR= 72-84
    Audit= 73-82
    BEC= 74-75
    Reg=77

    February 27, 2015 at 12:19 am #650938
    Anonymous
    Inactive

    Hah! Martin, your analogy tells me you have spent too much time studying for AUD. Hopefully you won't ever have to study for it again.

    @trish_1234, that's rough. I had that happen to me on FAR when I got a 74. You know what the sims look like know so you know better than I do what you need to get them right. I hear a lot of people say they are able to look at the AL to find answers. I guess some of it depends on luck as well. Keep at it. If you did that well on the MCQ you are definitely capable of passing.

    February 27, 2015 at 12:31 am #650939
    trish_1234
    Member

    Thanks CTM. What is AL is it the research tab? I did check the AICPA tutorial to fool around with the research tab to see what info I could find fast!

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    February 27, 2015 at 1:05 am #650940
    swilk
    Member

    Yes, the research tab is AL or Authoritative Literature.

    My advice is to look at every sim before you get started on any of them. If you know there is one you are really good at, try to save that one for last. Also keep in mind the AL tab. For instance if you get a sim that states which of the items below should be included in the following audit report (just an example), and you are really not sure of some of the items, search the AL tab, under AU-C, Audit Reports. It will give you guidance and most likely the answer.

    Good luck!

    AUD - 90 (2.26.2015)
    BEC - 76 (5.4.2015)
    REG - 79 (8.31.2015)
    FAR - 76 (2.22.2016)

    Roger and Ninja MCQ FTW.

    February 27, 2015 at 1:12 am #650941
    trish_1234
    Member

    Geat! Thank you… for people struggling with research… You are aware of the search within just putting out there!

    Good Luck to you too!

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    February 27, 2015 at 3:23 pm #650942
    shanek327
    Participant

    Have some confusion, hoping someone can clarify.

    The lecture states to include an 'emphasis of matter paragraph' if FS's are prepared using a special purpose framework.

    However, when the lecturer shows an example from the textbook, there is no 'emphasis of matter' paragraph but there is a ‘basis of accounting' paragraph…is this the same thing???

    FAR - 75
    AUD - 78
    BEC - 82
    REG - 77

    2 Corinthians 5:21

    Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

    February 27, 2015 at 3:48 pm #650943
    trish_1234
    Member

    hi Shanek

    It is an emphasis of matter paragraph

    with a subtitle of “basis of accounting”

    ( I doubled checked my book)

    anything that can be identified in the financial statements uses an emphasis of matter

    other matters relates to matters that cannot be identified in the FS but need to be addressed

    from what I recall those are the only two ways to add paragraphs to a report without modifying opinion

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    February 27, 2015 at 4:12 pm #650944
    shanek327
    Participant

    excellent, thanks so much!

    FAR - 75
    AUD - 78
    BEC - 82
    REG - 77

    2 Corinthians 5:21

    Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

    February 27, 2015 at 6:20 pm #650945
    Anonymous
    Inactive

    I'm in CA and took AUD yesterday. Anyone else in CA notice that your status in CBA hasn't changed to “attended” yet? I know there were some issues yesterday between prometric getting confirmation of people actually finishing the exam, but fingers crossed hoping nothing happened to mine!

    February 28, 2015 at 2:41 am #650946
    Anonymous
    Inactive

    just got out of the exam. not one question on assertions/sampling/auditevidence/etc…… FML

    February 28, 2015 at 5:12 am #650947
    willpassby2014
    Member

    Just came back from exams. MCQ were manageble but SIMS were out of world. Except research question there is nothing i could use AL. i had 4 minutes left when i finished. I was so happy that i did MCQ good and hoping for a fair sims like others where you could use AL. Last 2 times i got 74 i got fair sims and i was strong on it. This time SIMS were brutal……man…i was almost in a nervous breakdown coming back home. I dont want to study for this subject again. I have been studying for past 6 months and all i get is 74. I am definitely not a dumb but luck is not favoring me…Praying for the miracle number 75

    BEC Passed
    FAR Passed
    AUD Passed
    REG Passed

    February 28, 2015 at 5:27 am #650948
    trish_1234
    Member

    My SIMS were horrible also, Don't be discourage and stay positive, you can do it!!! you have passed 2 sections already!

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    March 1, 2015 at 11:06 pm #650949
    willpassby2014
    Member

    If simulation is based on random selection and not how we perform in MCQ , can we conclude its purely luck? How can AICPA compare a easy simulation with a tough one? When we get our comparable score obviously the one who got a easy simulation will be stronger than the person who got a easy one.

    For e.g my audit simulation was very hard but lot of persons in this forum said their simulation were word to word from AL. This baffles me how this can be a uniformity in scoring?

    BEC Passed
    FAR Passed
    AUD Passed
    REG Passed

    March 2, 2015 at 2:58 pm #650950
    highlightnumb
    Participant

    Hello everyone so is Audit non math intensive compared to the other 3 parts? I will begin my Audit journey in a couple of days. Thanks in advance 🙂

    Mario Marcel, CPA

    FAR. Feb 2014 76
    REG. Jan 2015 79 half way there!!
    BEC. Feb 2015 79 thank you God!!
    AUD. Apr 20, 2015 and will be done. Hold that thought 65, 7/14/15 85!
    Ok where was I? Oh thats right now I'm Done!!!!!!!!!
    Ethics 92!!

    "You down wit SEC?, yeah you know me!!!"

    Cali Candidate

    All Becker Materials, Wiley Test Bank, Ninja audio, Ninja MCQ, Ninja Notes

    March 2, 2015 at 6:07 pm #650951
    trish_1234
    Member

    My experience with auditing (I took the exam once and failed 69 bc of SIMS, I was strong on MCQ compared to ppl who passed even) is that there is some journal entries and a lot of ratio calculations. not math intense but be prepared for anything!

    The sims will make you or break you.. have time to do them all…

    This is how I am going to approach my study this time round

    Be very good with AL search incase I can use it to answer some sims

    be quick to know how circumstances effects ratios

    know sales receivable cash/ purchase payable other asset liability and equity cycles for evidence and internal control inside out. also sampling

    the other topics I am going to do endless MCQs

    know contents of reports (I memorized most of them)

    The auditing exam has a lot to do with luck really. my material does not prepare me for sims and what I heard/read from others this is true for most cpa review.

    But really be prepared for anything!!!

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

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