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
Anyone using NinjaNotes. 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.
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.
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.
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!
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'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…
@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