[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

[Anonymous]

I will go with 8.C and 9.A as well.

[Maaneet]

@Qlad… just saw your scores, you only have AUD left to pass. When do you take it?

FAR - 81 (2/13), Expired. 🙁 Retake 79 (11/14)
AUD - 63 (10/13), 71 (2/14), 69 (7/14), 81 (10/14) Finally!!!
BEC - 77 (2/14)
REG - 78 (5/14)

[Anonymous]

So you use technical expertise, independence, and due professional care for auditing ICFR?

[Qlad]

Nov 6th…but don't know how to make myself sit n study…fighting with my mind, saying only 1 to go…put all ur strength in it…do it and this reward, that reward…trying everything…but can't settle my mind…

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

[Anonymous]

@Qlad What/who inspires you to become CPA?

[Qlad]

@CPAby2015…hmmm…got ur point…shud think about my inspiration and why did I start CPA at the first place…. I remember now that I failed so many times and every time it was that one thing that made me do it again…I really wish it will work this time too…I will try to put the same strategy which helped me pass at last,…thanks a lot..

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

[Anonymous]

So Ninja, what were the answers for 8 and 9?

[Qlad]

A CPA firm is completing the fieldwork for an audit of Swenson Co. for the current year ended December 31. The manager in charge of the audit is performing the final steps in the evidence accumulation phase of the audit and notes that there have been several changes in Swenson during the year under audit. Which of the following items would indicate there could be substantial doubt about Swenson's ability to continue as a going concern for a reasonable period of time?

A.Cash infusion by a venture capital firm

B.Recurring working capital shortages

C.A lack of significant contracts with new customers

.

D.Term debt refinanced with a new bank

Confused between B and D…which one is better answer and why?

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

[Anonymous]

The answer is B.

Refinanced means they just push back the payments and make it LT debt instead of ST debt.

[Anonymous]

Ninja probably was caught doing MCQs in the office. Now another71 was blocked by IT. lol

[Anonymous]

LOL, or he is probably at lunch right now.

Another thing I don't get is attestation engagements report on ICFR, but for reviews internal control is not considered. Smh, like Iggy said we just have to memorize some stuff and forget about logic Ha.

[Anonymous]

or probably sleeping.

Are you talking about the interim review for issuer? I think the procedure for interim review is limited to inquiry and analytical procedures because of time constraints (I believe they file it along with 10-Q?).

[Anonymous]

No, not an interim review, just just regular reviews.

What is the difference between interim reports and quarterly reports?

[Future Ninja]

#8. A

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

[Future Ninja]

#9. A

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

[Author]

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