[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

[Anonymous]

DunkinDonuts, if it is properly disclosed, it will be an unqualified opinion with an EOM paragraph added to it. Now, if it isn't properly disclosed and the management refuses to disclose it, then it is an departure from GAAP and it will be qualified or adverse.

As for your second question, yeah you have the right idea. When there is a departure from GAAP that is so pervasive, it will be an adverse opinion. If it is an scope limitation, it will be an qualified or disclaimer opinion depending on if it is client imposed.

Mariam, it is going okay but I still don't have the evidence section down for the simulations. That is where I'm guessing most of the sims will come off of. And the research problems are absolutely brutal for Audit compared to FAR. There is really no good practice you could have since these programs features are so different compared to the actual ones.

Kappa, good luck to you as well and it will definitely be brutal Ha.

[Anonymous]

Also, can someone please explain to me in words how the revenue cycle and cash disbursement cycle works? The diagrams and flowcharts are okay, but I haven't fully gotten it down yet.

[Tarheelgirl]

Under the ethical standards of the profession, which of the following is a “permitted loan” regardless of the date it was obtained?

A. Home mortgage loan

B. Student loan

C. Secured automobile loan

D. Personal loan

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[mariam almas]

C

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Anonymous]

Btw, permitted and not permitted always trick me up LOL. I read the question too fast and it kills me. But yeah, a secured automobile loan is fine, none of the other ones though. Good question.

[mariam almas]

@CPAHOPEFUL11 revenue cycle is very tricky, I'm Revenue Specialist although at the beginning i faced a difficulty in this chapter, the CFO helped me a lot to understand this concept. Because @CopyPasteMonkey noticed my weak english (looool) i prefer to let the other explain it for u

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Tarheelgirl]

The answer is C.

@CPAhopefull – the same happens for me as well.

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[Anonymous]

It is okay Mariam, your English is just fine. This area is really confusing me.

An auditor’s decision concerning whether or not to “dual date” the audit report is based upon the auditor’s willingness to

A.Extend auditing procedures.

B.Accept responsibility for subsequent events.

C.Permit inclusion of a footnote captioned: event (unaudited) subsequent to the date of the auditor’s report.

D. Assume responsibility for events subsequent to the issuance of the auditor’s report.

[Qlad]

B?

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Anonymous]

A?

[Anonymous]

Answer is A, I thought it originally would be C.

I'm REALLY struggling today on the Evidence portion after scoring in the 80s range last week. I guess I know where to spend the majority of my time before the exam in two weeks.

[Qlad]

this question is hard for me as I'm not able to eliminate wrong answers as I normally do

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[mariam almas]

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Anonymous]

Thanks for the clarification CPAHOPEFUL11

[kappa1032]

A?

FAR - 81
REG - 74, 87
AUD - 88
BEC - 88

Finally.

“The only guarantee for failure is to stop trying”
― John C. Maxwell

[Author]

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