[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

[marqzho]

It is how a textbook business runs.
You sell product. You receive a purchase order. you approve it. you ship the product. And you send invoice to your client.

No one will pay you$ if you only receive order and ship the good, without sending out an invoice.

REG 90
FAR 95
AUD 98
BEC 84

[Larry]

Just wanted to see some opinions from you guys. I'm sitting for BEC on 5/16. Since I have BEC and AUD left, I'd like to get it done asap. My reg doesn't expire until February 2017. Do you think it's possible to do AUD in 3 weeks and sit for June 10th? This is like a hail mary pass for AUD.

REG - 82
FAR - 78
BEC - 76
AUD - 8/27/16

[Theodore]

@papogator24 yikes! three weeks? I guess it depends on whether you have a full time job or other things going on. I know for sure I wouldn't be able to do it. I need at least three months per section. But then again everyone learns differently. Good luck!!

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

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

[Larry]

Rosy, I have a full time job. I can take a week off if needed. That's why I said it's a hail mary pass.

REG - 82
FAR - 78
BEC - 76
AUD - 8/27/16

[jpowell31]

i wouldn't say it's impossible papogator! Definitely not ideal but if you can commit, then you're done with this silly exam and in time for summer! if you fail you've got a solid base and a bigger window to retake so you have nothing to lose but some extra application fees. you should just get your NTS and see how to goes before booking the exam (while keeping an eye on available exams).

[jpowell31]

Can someone help make this concept stick? They're all discrepancies in my mind…including where there is missing or conflicting info. C even says “discrepancies” and refers to the Company's “records”. this subjective crap is frustrating. I can memorize, but I want to understand. GROWL

Which of the following is an example of discrepancies in accounting records that could be used to assess the risk of material misstatement due to fraud?

A. Inconsistent, vague, or implausible responses from management or employees arising from inquiries or analytical procedures

B. Evidence of employees' access to systems and records inconsistent with that necessary to perform their authorized duties (correct)

C.Unusual discrepancies between the entity's records and confirmation replies

D. Unavailable or missing electronic evidence, inconsistent with the entity's record retention practices or policies

Examples of discrepancies in accounting records that could be used to assess the risk of material misstatement due to fraud include the following:
•Transactions that are not recorded in a complete or timely manner or are improperly recorded as to amount, accounting period, classification, or entity policy
•Unsupported or unauthorized balances or transactions
•Last-minute adjustments that significantly affect financial results
•Evidence of employees' access to systems and records inconsistent with that necessary to perform their authorized duties
•Tips or complaints to the auditor about alleged fraud

The other answer choices are examples of conflicting or missing evidential matter that could be used to assess the risk of material misstatement due to fraud.

[ELMON]

jpowell31@

The Answer Is Clear , Just Look to That sentence ” Evidence” Here Is the Trick , the Other Answers do not say that

so you're not sure that there is evidence.

Audit = Wording

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

[Operation_CPA]

Anyone have any tips for nailing down these transaction cycles? So far (just to wrap my head around what is going on) I am trying to limit each process to a page. I think seeing some of this big picture helps for the beginning at least. For example:

Revenue Cycle: Sales, A/R, Cash receipts

I/C Sales
(1). Prep sales order
(2). Credit Approval
(3). Shipment
(4). Billing
(5). Accounting

I/C A/R
(1). Sales
(2). Collection of cash receipts
(3). Uncollectible receivables
(4). Sales returns
(5). Sales discounts

and so forth. Then I am putting which assertions/procedures fall with the Balance, Transactions, & Disclosures.

Any advice is appreciated. I am finishing up A4 today and have exactly 1 month until I sit.

[lolo]

That's great if you can post your summarized notes about them I would love to study that way, if you don't bother!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[Theodore]

This section is so frustrating. more than FAR. It seems like it's easy to understand and everything makes sense as you're reading the material, but applying it is a completely different thing. Ugh

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

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

[Larry]

Thanks jgpowell. I'll keep that in mind. That what I was originally thinking.

REG - 82
FAR - 78
BEC - 76
AUD - 8/27/16

[Future Ninja]

counting myself in for this group.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[ELMON]

Future Ninja @

Still you have time to pass the REG , you have a chance to take on July 2016 , you will pass this time just trust your

capabilities

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

[Double-entry Deviant]

I'm taking Audit on 6/1. I started to do a little studying during the “busy season” but the last few weeks of tax season whipped my butt.

I'm finishing up watching Blitz and then going to start doing MCQ's. I'm feeling a little nervous – not sure 3 weeks is enough time but I don't want to wait until July to take the exam.

Good luck everyone! Y'll motivate me.

REG: 5/30/15 - 77
FAR: TBD
BEC: 8/31/15 - 70, 73, 1/8/16 - 77
AUD: 6/1/16- 73, 8/2/16

[Operation_CPA]

What is the proper way to use the AL for SIMs? You'd think it would be a lot more straight forward to find an answer sometimes.

For example, If I want to access the Independent accountant's review report word for word and I search “review report” 205 results come up. How would I find the exact report in the AL and narrow down my search results??

Any help would be greatly appreciated

[Author]

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