AUD Study Group Q2 2015 - Page 29

  • Creator
    Topic
  • March 5, 2015 at 8:09 pm #192520
    jeff
    Keymaster

    Welcome to the Q2 2015 CPA Exam Study Group for AUD.

    World Premier: “Unmodified” (Audit Reports Rap Video) 🙂

    Posted by Another71 on Thursday, November 13, 2014

    Free NINJA: https://www.another71.com/cpa-exam-study-plan/

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

Viewing 15 replies - 421 through 435 (of 1,631 total)
1 2 3 … 28 29 30 … 107 108 109
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  • March 17, 2015 at 5:42 pm #668767
    ladybossxo
    Participant

    Edited: double post

    CPA Exams Done.

    March 17, 2015 at 5:51 pm #668768
    trish_1234
    Member

    NICE! Thanks for the question, great explanation

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

    March 17, 2015 at 6:47 pm #668769
    trish_1234
    Member

    I failed most of the ninja sims

    nightmare. I hope the real exam goes easy on us. If I fail, I will cry and probably move onto FAR

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

    March 17, 2015 at 6:57 pm #668770
    trish_1234
    Member

    Cash receipts from sales on account have been misappropriated. Which of the following acts would conceal this defalcation and be least likely to be detected by an auditor?

    A. Understating the sales journal.

    B. Overstating the accounts receivable control account.

    C. Understating the cash receipts journal.

    D. Overstating the accounts receivable subsidiary ledger.

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

    March 17, 2015 at 7:59 pm #668771
    ladybossxo
    Participant

    Oh god. I don't know. B?

    CPA Exams Done.

    March 17, 2015 at 8:12 pm #668772
    Martin
    Participant

    A. Understating the sales journal. Im not sure,but the day I can answer this without thinking too much is the day I get my 75. Im only guessing,but the source of cash receipts is Sales.

    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

    March 17, 2015 at 8:34 pm #668773
    WANNABE_CPA
    Member

    A?

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    March 17, 2015 at 8:46 pm #668774
    NoraU
    Member

    Hi guys! How deep do you study audit sampling? I went though it once today and my head is spinning. Do we need to know all the details? What do you think?

    BEC 05/12/14 77
    REG 08/25/14 82
    FAR 11/25/14 80
    AUD 02/25/15 72, 05/15/15 98! DONE!!!!!!!!!!!!!!!!!!!!!!

    March 17, 2015 at 8:56 pm #668775
    WANNABE_CPA
    Member

    Anyone using Becker and Ninja Mcqs, do you know which part of Ninja covers the A1 and A2. Since i will be done with both today, i want to start doing ninja for those portions alongwith rest of the becker parts.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    March 17, 2015 at 9:13 pm #668776
    ladybossxo
    Participant

    @Wannabe: For A1, It is 4J1, 4G and 4H. It is not a complete list though. I know I am missing a few topics but it is hard to find on NINJA.

    For A2, it is the whole section 5: Accounting and Review Services Engagements

    CPA Exams Done.

    March 17, 2015 at 9:16 pm #668777
    ladybossxo
    Participant

    @Nora: For audit sampling, I think it is important to know the types of sampling (attribute and variables) and the sample size for each type of sampling (tolerable rate, expected rate, etc)

    CPA Exams Done.

    March 17, 2015 at 10:08 pm #668778
    trish_1234
    Member

    Answer (A) is correct.

    Not recording sales on account in the books of original entry is the most effective way to conceal a subsequent theft of cash receipts. The accounts will be incomplete but balanced, and procedures applied to the accounting records will not detect the defalcation.

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

    March 17, 2015 at 10:09 pm #668779
    trish_1234
    Member

    @ matin, yes that was the thinking behind it!!!!

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

    March 17, 2015 at 10:10 pm #668780
    trish_1234
    Member

    @ Nora also, you would want to know how to use the tables to find sample size and project it to the population, if you know what I mean 😉 .

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

    March 17, 2015 at 10:22 pm #668781
    WANNABE_CPA
    Member

    Thank you Ladyboss, it is hard to be able to distinguish topics as per ninja. Well i like how ninja is laid out because it is just how the Nasba has made the list too. But becker and other reviews have not followed that which is confusing. Whenever i try to do more practice questions from ninja i end up getting topics i am not done with, resulting in low average and wasted time.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

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