AUD Study Group Q1 2017 - Page 36

  • This topic has 569 replies, 84 voices, and was last updated 8 years ago by Anonymous.
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  • December 19, 2016 at 6:26 pm #1396514
    jeff
    Keymaster

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

Viewing 15 replies - 526 through 540 (of 569 total)
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  • March 3, 2017 at 11:40 am #1503421
    mooseonloose
    Participant

    insufficiency (pervasive), lack of independence, and going concern (auditors judgment) are disclaimer

    March 3, 2017 at 11:41 am #1503430
    mooseonloose
    Participant

    two more days until my exam, I am going nuts. I'll be finishing up my chapter 6 review today. Tomorrow I am planning to hammer 500-600 MC.

    March 3, 2017 at 12:06 pm #1503453
    Operation_CPA
    Participant

    Appreciate the prompt responses guys! Back at it.

    March 3, 2017 at 1:34 pm #1503501
    NeedsA75
    Participant

    You guys participating in this thread please make sure to come back after your exams and let us know how it went

    March 4, 2017 at 12:29 am #1503853
    LIZZ
    Participant

    @Spartans92

    I was tricked by this question also. A tag listing is an accounting document (report) so this is existence. Going from source document to physical inventory. The word TRACE was put in there to throw you off. Remember with AUDIT its the “most” correct answer.


    Tracing inventory items from the tag listing back to the physical inventory quantities

    FAR - 05/2015
    AUD - 75,11/2014
    REG - 07/2015
    BEC - 09/2015

    March 4, 2017 at 12:40 am #1503859
    LIZZ
    Participant

    Anyone using Ninja Notes. I dont understand the “C” – Confirm Internal Control in the TRACE mnemonic for substantive procedures. Whats the difference between confirming Internal Controls and testing Internal controls? I know your not supposed to test Internal Controls as a substantive procedure.

    FAR - 05/2015
    AUD - 75,11/2014
    REG - 07/2015
    BEC - 09/2015

    March 4, 2017 at 4:30 am #1503909
    nardo
    Participant

    does “member” in public practice refer to any cpas or specifically aicpa members

    March 4, 2017 at 6:41 pm #1504359
    Operation_CPA
    Participant

    Took the exam today guys. Thought I did really well on the first teslet. Second testlet came along with a lot more obscure / difficult questions – still thought I managed to do okay though. Third testlet back to medium (I think), and the SIMS were business as usual to say the least. Well see what happens on score release day. Wishing you all the best as you sit these next few days! Keep grinding.

    March 4, 2017 at 7:08 pm #1504374
    NeedsA75
    Participant

    Thanks Operation_CPA…what study material did you use and did you feel that it prepared you well for the sims?

    March 4, 2017 at 7:14 pm #1504381
    Operation_CPA
    Participant

    I used Becker. The only thing is, I was cramming for this exam post busy season so I didn't have much time to do SIMS. Even if I had done them, I'm not sure it would have made much of a difference.

    March 4, 2017 at 8:53 pm #1504441
    Spartans92
    Participant

    Honestly, I dont think any software's SIMS can prepare you well on the actual exam. The only thing we can do is practice and see as many questions being asked in different ways as possible. None of my SIMS seems like things I learned from Becker and Ninja. The MCQ were fair and I thought I was well prepared but then got to the SIMS even the AL was limited use for it because the questions are so open ended. Sometimes I feel it is better to have writing responses like BEC and sometimes that really test knowledge more than the current format.

    Felt the options they gave me were not even fully correct because X factor could have changed the answer. I can never feel prepared for the SIMS!

    BEC- PASS

    March 4, 2017 at 9:44 pm #1504495
    Operation_CPA
    Participant

    @Spartans92

    Exactly how I feel about the whole thing. Well said!

    March 4, 2017 at 10:16 pm #1504525
    off_beat
    Participant

    Now I'm even more worried… today I spent some time going through SIMS and felt like everything i thought i knew, i actually didnt and felt extremely stressed bout it… and now i feel even more unprepared for the exam !

    i hope you guys passed!!

    March 5, 2017 at 4:56 pm #1505086
    Scared-cpa
    Participant

    I've got AUD on Wednesday (03/08) and here are my Ninja stats. The problem is I've only done 300 questions so far (averaging 200 a day so I will have 800 done by the time I sit). Do you think I'm relatively prepared? What else would you say I do? I also did WTB for a couple days (around 400 mcqs, I think) and was averaging 70-71%. Ninja is below…

    Category / Average / Average Trending
    Engagement / 81 / 81
    Understanding / 76 / 85
    Performing / 71 / 64
    Evaluating / 84 / 84
    Accounting & Review / 80 / 77
    Professional Responsibilities / 76 / 77
    Overall / 78 / 78

    March 5, 2017 at 5:20 pm #1505116
    RandomRandy
    Participant

    @scared_cpa numbers looking good. I am around the same place as you at 74% Trending/Average. Just make sure you go hard these next couple of days to keep the info fresh

    FAR: 74 1/15/16, 72 7/2/16 -_-
    BEC: TBD
    REG: TBD
    AUD: TBD

    "Nothing is impossible to him who will try" - Andy Bernard

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