[jeff]

Welcome to the Q3 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

[Anonymous]

Preparing tax basis financial statements to be presented along side an entities tax return = Preparation engagement
Preparing personal financial statements to be presented alongside a personal financial plan= Preparation engagement
Using info in GL to prepare FS outside of an entities accounting information system= Preparation engagement
Preparing a single FS with substantially all disclosures omitted= Preparation engagement

[Theodore]

Yea I was wondering why your previous question was asking for communication with the predecessor when it is not required in a compilation nor review. It is up to the auditor to request such communication. good questions.

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

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

[Theodore]

How many MCQs have you guys been taking to say you're sick of them? I tend to do 100 per day. should I be doing more? I've been mixing MCQs with my notes.

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

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

[Anonymous]

100 per day is probably close. But there's something about Audit that just wears me out. I think it's the fact that every single question I have to read multiple times to make sure I'm not missing anything and then I have to do the same thing for each answer choice.

[JT]

As we are approaching test day, I try to do 300. Lately I've been falling short….around 240-270.

My studying generally revolves around learning from mcq's though. I have been reviewing some notes as well.

Smh…. I just got frustrated and slammed my iPhone against my study materials and didn't notice one of those paper clamps was there. I just cracked the screen. Smh. I hope I pass aud!

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[Theodore]

Oh man, i can feel my frustration increasing. Just missed so many obvious questions. grrrr
Aud requires more critical thinking, which makes it much more difficult.
lol you're not the only one Dab. sometimes i get so frustrated that i slam my hand on the table and my poor dog looks at me and slowly gets up and walks to the room lol

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

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

[Theodore]

so I found these videos on Youtube that explains ratios. I found them helpful. check them out

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

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

[Theodore]

Woah! I didn't think the actual video was going to appear here

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

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

[JT]

Cool. Thank you.

I'll take a look at it. I took BEC already so I kind of melted the ratios into my memory by now. Lol… I need to prepare for those adjusting j/e though. Smh.

How was your re-review on A4? I'm considering going over it along with A6.

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[Theodore]

It was good. or so I think. Have a way better understanding of transaction cycles and ratios. i had a few ah-ha moments

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

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

[Theodore]

I have a feeling that a ratio SIM is going to appear on the exam. so by you having a good understanding of them, that gives you a head start

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

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

[JT]

I could go for some of those “aha-ha” moments!

By the way, if your having some issues with questions with those formulas, one thing that I do is whenever I get one of those questions, I write out the formula and (depending on what the question is asking) draw an arrow near the numerator and denominator pointing in the direction that it's suppose to go (whether increasing or decreasing) and I go through each of the McQ options and see which item fits the scenario the best.

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[JT]

Oh, definitely. Thank you.

I'm definitely prepared for a ‘regular' ratio question but I know how these exams are. I can foresee them throwing a transaction cycle question mixed with and internal control question mixed with a ratio question as a sim. Lol.

Right now, I know I'm screwed if they throw an in depth transaction cycle sim at me!… One thing I'm worried about is those “tick marks”/reconciliation related sims. I haven't seen any in my practice work but you never know. Do you know if they still test that?

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[Theodore]

Thanks and yea i've tried that and it has worked it's just a matter of not spending too much time on those.

Becker says they could. and they have one of those SIMs in the study material. It was ok. Just make sure you understand what is going on/what the auditor is trying to get to. It's a matter of analyzing his/her steps very carefully. Think like an auditor. lol

Well after 13 hours of studying minus a couple breaks, I think it's time to refresh the brain. Soooo tired. talk to you guys tomorrow.

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

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

[JT]

Cool.

Thank you for the info.

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[Author]

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