[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/

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

[mariam almas]

🙁

^

^

^

It's clear enough to reilaz how my exam was

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

NH

[Future Ninja]

8am! rise and grind

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

[Anonymous]

Good morning folks!

@CPAHOPEFUL11 Haha…thanks for posting anyway. I used Gleim for my FAR and the result was good without any supplement materials so I'm using the same for AUD. Only this time, I'm doing 100% of MCQs since AUD material is relatively smaller than FAR. But seeing the questions that you guys were posting, it seems like there are more out there so I appreciate what you all are sharing. Please keep sharing!

@mariam almas Stay positive, that's all you could do right now! Exam has never been easy. There are people out there who felt confident but did not pass, unsure but ended with positive result. Cheer up!

[Anonymous]

Hey guys, I have an idea. I was reading a book about attracting positive energy. It says that when you think of something and focus on it, it will turn into reality. What if we update our signature with our desired score(s)? That way when everyone sees your score, two things; either they will think your crazy or they will think that you actually got that score and transmit that energy back to you and then you will get it! Just make sure that when you think of it and visualize it, don't doubt yourself otherwise it will not work. That means when you said you will get 90 then focus on it, and believe that you will get 90 regardless of how you did on the exam. You also need to write down on a sticky note and post it somewhere that you see everyday, the more you think of it, the greater the possibility that it will happen. Your thoughts?

[Anonymous]

If you're not crazy enough you can just put PASSED on your signature but on the sticky note you can be really ambitious about your score. I'm doing it right now, my score in AUD will be 95!

[Iggy1985]

I put a sticky note on my monitor, it says AUD: 99 (10/14) lol

FAR - 89 (8/19/14) Wiley TB, Wiley Book, Books from School, Ninja Audio/Notes
AUD - 92 (10/14/14) Wiley TB, Wiley Book, Ninja Audio
BEC - 82 (5/8/15) Mostly Ninja MCQ, sprinkles of Becker lectures and Ninja Audio
REG - (8/14/15)

[Anonymous]

1. An accountant has been asked to compile the financial statements of a nonissuer on a prescribed form that omits substantially all the disclosures required by GAAP. If the prescribed form is a standard preprinted form adopted by the company’s industry trade association and is to be transmitted only to such association, the accountant

A. Should disclose the details of the omissions in separate paragraphs of the compilation report.

B. Should express limited assurance that the financial statements are free of material misstatements.

C. Is precluded from issuing a compilation report when all disclosures are omitted.

D. Need not advise the industry trade association of the omission of all disclosures.

[Anonymous]

A?

[Anonymous]

2. In the course of an engagement to prepare unaudited financial statements, the client requests that the accountant perform normal accounts receivable audit confirmation procedures. (S)he agrees and performs such procedures. The confirmation procedures

A. Are part of an auditing service and change the scope of the engagement to that of an audit in accordance with GAAS.

B. Would require the accountant to issue a report indicating that the audit was conducted in accordance with GAAS but was limited in scope.

C. Are not permitted when the purpose of the engagement is to prepare unaudited financial statements and the work to be performed is not in accordance with GAAS.

D. Are part of an accounting service and are not performed for the purpose of conducting an audit in accordance with GAAS.

[Anonymous]

Is the 2nd one C? You have to audit the FS as an whole, while for unudited FS you could review on specified elements. In this case the person wanted to AUDIT one part and that can't happen unless the entire FS are audited, correct?

[Iggy1985]

1. D 2. C?

FAR - 89 (8/19/14) Wiley TB, Wiley Book, Books from School, Ninja Audio/Notes
AUD - 92 (10/14/14) Wiley TB, Wiley Book, Ninja Audio
BEC - 82 (5/8/15) Mostly Ninja MCQ, sprinkles of Becker lectures and Ninja Audio
REG - (8/14/15)

[Anonymous]

1. D

2. D. Accountants may perform other accounting services either in connection with a compilation or review of unaudited financial statements of a nonissuer or separately.

[Anonymous]

So for a compilation if it is only for management use, it does not have to include the ommitted disclosures?

Good stuff on the 2nd question, looks like I would have missed both these questions on the exam.

[Iggy1985]

For #1 it's D because it's a prescribed pre-printed form adopted by an industry trade association, so no disclosure is required unless the auditor thinks it misleading, then the form can be modified.

I didn't know #2 🙂

FAR - 89 (8/19/14) Wiley TB, Wiley Book, Books from School, Ninja Audio/Notes
AUD - 92 (10/14/14) Wiley TB, Wiley Book, Ninja Audio
BEC - 82 (5/8/15) Mostly Ninja MCQ, sprinkles of Becker lectures and Ninja Audio
REG - (8/14/15)

[Anonymous]

I also missed those questions. Since the compilation is in a “prescribed form” it is presumed that the information required is sufficient to meed the needs of the body that designed or adopted the form.

[Author]

Replies