[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

[Gunny]

@CPAG17

I think the answer is that the bookkeeper should have more segregation of duties. They have Authorization through the signature plates, Custody by holding the blank checks, and Record Keeping through the bank reconciliation. In a perfect world the book keeper may have only the checks and the treasurer or some other independent person holds the signature plates while another party complete the bank rec.

I think the question is worded strange, I hope this helps!

No exams taken yet,

Aud 7-19-16

[Gunny]

I'm having a hard time understanding how they came to the correct answer, any help is appreciated.

The information below was taken from the bank transfer schedule prepared during the audit of Fox Co.'s financial statements for the year ended December 31, 20X1. Assume all checks are dated and issued on December 30, 20X1.

Bank Accounts

Check No. To From

101 National Federal
202 County State
303 Federal American
404 State Republic

Disbursement Date Receipt Date

Check No. Per Books Per Bank Per Books Per Bank

101 Dec. 30 Jan. 4 Dec. 30 Jan. 3

202 Jan. 3 Jan. 2 Dec. 30 Dec. 31

303 Dec. 31 Jan. 3 Jan. 2 Jan. 2

404 Jan. 2 Jan. 2 Jan. 2 Dec. 31

Which of the following checks might indicate kiting?
a. #202 and #303.
b. #101 and #303.
c. #101 and #404.
d. #202 and #404.

Correct Answer is D: 202 and 404

[RE2PECT]

@Gunny- From what I can remember, when you're dealing with a question about kiting you need to look for a deposit per bank that is an earlier date than the one per books. In this question the deposit per bank for check#202 is 12/31, but it's still on the books until 1/3 and check#404 was deposited per bank on 12/31 and still on the books on 1/2. This allows the company to overstate their cash. I wouldn't spend too much time on it if you're having trouble understanding it. At most you'll see one question, if any.

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

[Gunny]

@Re2pect, Thanks, it makes sense now.

[Anonymous]

Took the exam earlier today.

For testlets I'm pretty sure I got medium-hard-hard. I'm not going to even guess how I did on the MC because even when I think I do terribly (like on the becker final and ninja practice exams), I end up doing pretty well on the MCs. Not to mention there are the 15 pretest questions that don't count toward your score, so won't comment here. Nothing outrageously difficult, but some MCs were very tricky.

For the SIMs – I used the AL to solve two of them (research and another problem). Again, nothing too out of the ordinary; they were just a bit tricky.

I feel like it could've gone either way. Hoping for that pass. Moving on to the next one.

I hope everyone could took it today or will take it today with plenty of lucky. Wish you all the best.

[DarkHorse]

Becker A4 is killing me. I have 1 week left until my exam and I just cannot wrap my head around the ratios/FAR stuff for SIMs and the Audit Procedures by Transaction Cycles/ Management Assertions portion.

Ratio MCQ seem to be pretty do-able however the SIMS are like a foreign language to me. Assertions/Audit Procedures by Transaction Cycles are also incredibly difficult for me in MCQ and SIMs.

Anyone have any advice on tackling this area? It's really the only thing I cant get down..A1/A2/A3/A5/A6 are so much easier compared to this! Any tips?

[aatoural]

@Asmodey sounds like it went well. Good Luck!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[CPATG17]

@Gunny, Thank you so much.

AUD - 08/23/2016
REG - TBD
BEC - TBD
FAR - TBD

[CPATG17]

@DarkHorse

Keep doing questions and find out why you are getting them wrong. Go back to books and search the wrong ones and study them again.

A4 is the most complex one and sure it makes your head spins.

AUD - 08/23/2016
REG - TBD
BEC - TBD
FAR - TBD

[aatoural]

Not looking forward to A4 after all these comments 🙁

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

i am using becker. it seems becker would not allow me to copy and paste questions, how can post a question from becker besides physically typing it?

[Anonymous]

For the people here who use Becker and NINJA MCQ's, do you wait until you've gotten all the way through Becker to start the MCQ's, or do them as you go? I used Becker for BEC and I thought it does a good job of teaching the material but doesn't have nearly enough practice questions, and the ones it does have are not similar to what I saw on the exam. I want to supplement with NINJA for AUD but not sure how best to go about it.

[CPATG17]

@allison213

I am using Becker & Ninja. It is better to wait so that you end up not confusing yourself.

Now I am thinking of getting Becker final review has anyone tried that before?

AUD - 08/23/2016
REG - TBD
BEC - TBD
FAR - TBD

[CPATG17]

@bwts

It's ok to copy and paste from Becker to here I just done that while ago. try again

AUD - 08/23/2016
REG - TBD
BEC - TBD
FAR - TBD

[Anonymous]

@CPATG17,

I just tried by doing copy and it would not allow me doing it. how did you do it? Becker is annoying and making things very inconvenient.

[Author]

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