[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for AUD. 🙂

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

[HelpHelpHelp :)]

Here's the Ninja explanation, if that helps:

Analytical procedures involve comparisons of recorded amounts, or ratios developed from recorded amounts, to expectations developed by the auditor. The auditor develops expectations using financial information, anticipated results, and relationships among financial statement elements, industry information, and relevant nonfinancial information. When the relationships do not match the expectations, the auditor needs to determine the cause and, because management's response to questions must be corroborated, the accountant should determine reasonable expectations before inquiring of management

The happiest people don't have the best of everything, they just MAKE the best of everything!

We can do it!! 🙂

[ruggercpa2b]

Based on working as an auditor usually analytical procedures would involve looking at PY and comparing those numbers to current year. Then based on our materiality threshold and the type of account we would pick out the ones we needed to explain the change from one year to the next. Some accounts you could explain based on your knowledge of the business. Then you had the ones that you could not quite explain why the account went up or down. So then we would sit down with management and ask for explanations of why a certain account went down or up.
For example if you have the same number of employees from one to the next but yet payroll went up your first thinking would be annual raises due to performance reviews. Now if you know that they had a pay freeze then you would ask why there was an increase in payroll.

Hope that makes sense.

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[HelpHelpHelp :)]

@ruggercpa Makes sense – but isn't that still considered “developing expectations” AFTER you're “applying analytical procedures”..?

The happiest people don't have the best of everything, they just MAKE the best of everything!

We can do it!! 🙂

[sonja90]

@spartans90 You are not competing against other people, correct answer is correct answer, and incorrect is incorrect. Questions are graded based on difficulty which is based on the fact how most of the people answer to it, and it my understanding that pretest questions are the way of how they assess if it's difficult or medium question. However, pre test questions are not counted against you, since pretested ones are graded in different quarter than when you took it,so there is no direct competition between test takers at all! Either you know it or not!

[kenckang]

Hi All,

Taking AUD this coming Tuesday. Did all the ninja mcq and all the wiley mcq. Did most of the Sims.
Took a practice exam today and got around 75%ish. Hopefully this is good enough! Please wish me luck and good luck to whoever else is taking it with me!

[mperez102204]

Test in an hour. Sitting in the car and reading notes. Feel like I am going to puke… ehhhhhh!!!!

[sonja90]

@mperez don't overthink!!!! You are in control of the exam, not the other way around!!! Be confident and you'll get it right!!! Sending positive vibe your way!

[HelpHelpHelp :)]

@mperez by the time you see this you will be dooooooone!!!! 🙂 🙂 🙂 🙂

I'm sure you did great! Keep your chin up and don't drive yourself crazy with post-exam “what ifs”!

The happiest people don't have the best of everything, they just MAKE the best of everything!

We can do it!! 🙂

[mperez102204]

Hey!! Well, it was way harder then last quarter. I think I did worse. Well, can not do anything about it now. Off to BEC. Thanks for the positive thoughts

[Operation_CPA]

Is it just me, or are these Becker questions on the Preparation, Compilation, and Review of Financial Statements way too easy? Hoping this is a big area come exam day. EDIT: Also, why is “Becker” showing as a link?

[HelpHelpHelp :)]

Groan. Just got a 71 on Ninja practice test, and I'm taking AUD tomorrow… how discouraged should I be? 🙁

(I'm trending in the low 80's in MCQ, but for my other tests I was also trending in the high 70's/low 80's and I passed, so I wasn't going to let that freak me out.)

I just want this to be done!!!

The happiest people don't have the best of everything, they just MAKE the best of everything!

We can do it!! 🙂

[HelpHelpHelp :)]

On the plus side, most of what killed me here were the sims, and I didn't really focus too much on them for this practice test – I had no patience to try using the Ninja AL even though I had plenty of time. On the real thing I'll double check all of my sims answers in the AL if I can!!

The happiest people don't have the best of everything, they just MAKE the best of everything!

We can do it!! 🙂

[sulaiman]

That's why I hate practice exams.. they just take your confidence when you really need it! I'm with taking a practice exam earlier in your study, not like one or two days before the exam because taking a practice exam is helpful to know your weaknesses and what areas you should focus on your studies so when you take it like one or two days before the exam, what's the point? You are mostly going to be board doing the exam and score less than where your level really is

[HelpHelpHelp :)]

I actually agree with that, which is why I haven't taken practice tests for my previous sections, but I just wanted to know how I was doing on time management (since regular Ninja MCQ shows the answers after each individual question)… I'll just convince myself that everyone always scores lower on the practice exams, and I'll for sure do waaaaay better tomorrow 🙂

The happiest people don't have the best of everything, they just MAKE the best of everything!

We can do it!! 🙂

[sulaiman]

I'm sure you'll do great and be done with the exams for ever! Hopefully I'll join you too next thursday! Good luck in your exam:)

[Author]

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