[jeff]

Welcome to the Q2 2016 CPA Exam Study Group for AUD.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

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

[ELMON]

Tricky

Tracing copies of computer-prepared sales invoices to copies of the corresponding computer-prepared shipping documents provides evidence that:

A.
shipments to customers were properly billed.

B
entries in the accounts receivable subsidiary ledger were for sales actually shipped.

C.
sales billed to customers were actually shipped.

D.
no duplicate shipments to customers were made.

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[RE2PECT]

^^ I'll go with C

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[ELMON]

Yesssssssssssssss U are right

but why not A ?

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[Spartans92]

Elmon, the question relates to vouching you are going from your sources to documents so it test for existence. So you want to know whether all the billings were actually shipped. As oppose to A if you want to see all the shipments were properly billed you would want to see the documents and trace back to the sources.
This is why AUD is confusing because the wording. Choice A is pretty much saying you want to know whether things were done correctly so its completeness. Note: even it says tracing but it is actually not tracing sometimes trace and vouch are used interchangeably the way to differentiate is to determine whether it goes from source to doc or vice versa. I hope believe what Im saying is right, though, I haven't review AUD since FEB.

BEC- PASS

[ELMON]

Spartans92@

See the trick here when the Q Says ( Tracing ) Because tracing means you going from down to top and test completeness , but when u look to the sequence of the Q ask its from invoice to shipping document so its from top to down from invoice to shipping document .

Why I post that Q ? Because sometimes we see tracing or vouching and decide the answer on that base and we do not think about the Q Itself . so the exam sometime use vouch instead of trace and vice versa

Good Luck

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[ELMON]

Spartans92@

See the trick here when the Q Says ( Tracing ) Because tracing means you going from down to top and test completeness , but when u look to the sequence of the Q ask its from invoice to shipping document so its from top to down from invoice to shipping document .

Why I post that Q ? Because sometimes we see tracing or vouching and decide the answer on that base and we do not think about the Q Itself . so the exam sometime use vouch instead of trace and vice versa

Good Luck

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[ELMON]

Spartans92@

See the trick here when the Q Says ( Tracing ) Because tracing means you going from down to top and test completeness , but when u look to the sequence of the Q ask its from invoice to shipping document so its from top to down from invoice to shipping document .

Why I post that Q ? Because sometimes we see tracing or vouching and decide the answer on that base and we do not think about the Q Itself . so the exam sometime use vouch instead of trace and vice versa

Good Luck

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[Theodore]

Well that makes it only so much harder. I've having a problem with vouching and tracing. Good luck to everyone!

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[rafiv900]

Hi Ninjas, I need a simulation about litigation.

Journey Started - June 2015
FAR - TBD
AUD - January 20, 2016
BEC - TBD
REG - TBD

[jeff]

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

[ELMON]

Rosy0407 @

I Think All of us have the same doubt , see i will try to clear that as baker says

Tracing = Look to the letter T its like arrow going Up means u trace from source document to GL —-) TB —- ) FS = From down to top , here u test Completeness

Vouching is the opposite = Look to Letter V Its Like Arrow Going Down means u vouch from FS —-) TB—-) GL—–) SD
here we test existence .

I hope that make it some clear , but see i think we should read the questions regardless of the wording trace or vouch

as u see in that Q says Tracing while its actually vouch from sales invoice to shipping Document

Good Luck

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[atx15]

D

AUD - 72, 83
BEC - 71
REG - 74, 77
FAR - Aug 2016

[jpowell31]

Hi everyone, I'm sitting my exam on the 19th and have a fairly good grasp of most of the material. the assertions are going to be the death of me, though! I feel like unless i see an example with the exact info in it, I don't learn it…it's so subjective it makes me angry and this is what trips me up on exam day.

Anyway, I digress…is there anywhere I can go to review or practice adjusting entries as well? I know those will definitely throw me off!!!

Thanks! And good luck everyone!

[RE2PECT]

jpowell31- Assertions are tough for me too, but the more questions you do on them the better you will start to understand which ones go where. I'm taking my exam tomorrow and started going over adjusting entries yesterday. I've been looking in my intermediate textbook, but this link might help.

https://www.accountingcoach.com/adjusting-entries/explanation/1

I'm getting really anxious about this exam tomorrow. I've done almost 4000 mcq and around 100 sims and still don't feel totally comfortable with the material. Good luck to whoever is testing soon!

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[jpowell31]

Thanks! I'm hoping it sticks as well…. Good Luck!!

[Author]

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