[jeff]

Welcome to the Q4 2016 CPA Exam Study Group for AUD.

If this is your first post in the study group – please post your target exam date (just the time frame to preserve your anonymity), and your past history with this exam (optional, of course).

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

[HoosierCPA]

So I'm new to the Ninja mcq's. I'm working my way through the assessment stage (only 215 questions in, or 13% complete). Overall I've scored 80% on the 215, I've had 1 set of 30 I score bad, 63%…other then that I'm scoring 80 or higher. My question is how does the trending score work? Right out the gate I did a set of 50 scored 80% and was trending 73% (didn't make sense to me). Now after 215 questions and my last 4 sessions as follows: 50 questions — 82%, 15 questions — 86 %, 20 questions — 90%, and 50 questions — 84% Ninja still has me trending at 73%…how do they figure?!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Anonymous]

@dtatham10 see if this helps – https://www.another71.com/cpa-exam-forum/topic/average-score-vs-average-trending-score/

[HoosierCPA]

@allaboard thanks. I guess since it weighs the 5 most recent sessions that would explain it. My 5th exam is the 63%, so the next session I do should cause it to drop off then hopefully I'll see a jump in the trending score.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[HelloCPA]

Hi there!

I'm planning on sitting for Audit at the end of Oct (as long as I have a passing BEC score). Last fall I took FAR, AUD, & BEC in one window and it was rough. Needless to say I didn't pass any during last fall. I recently passed FAR in July and sat for BEC this Sept. Audit seems to have a bit of overlapping study material for COSO and IT. I am hoping that the overlap helps my studies. I am using Roger & Ninja MCQ with a goal of doing at least 60 MCQ each & 1 TBS each day. I may need to step it up on TBS practice because I've read and heard they are what distinguish a score over 75…

Good luck everyone!

[HoosierCPA]

@Forster depending on your schedule and your understanding of the material 60 mcq's a day sounds light. I've been shooting for anywhere between 80-120 on the weekdays and 200ish on the weekends. This is my second time around though so I'm getting through the questions fairly quick.

Side note: this is my first go around with Ninja AUD material and the questions seems unusually easy..I'm curious if people with experience with Becker and Ninja have felt the same way.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Candace]

@dtatham10- when is your retake? pretty impressive to get through 80-120 MCs.
I really need to step up my studying game. I was originally scheduled for Oct 3rd retake.. but I panicked and rescheduled for Oct 31st (there goes another $35).
Any suggestions how to improve on my SIMS? I'm pretty good with the MCs. SIMS cost me a gut wrenching grade of 74.

REG- 69- Felt discouraged.. took a break.
AUD- 69, 74- The worst feeling ever. Far more painful than a break up.

[HoosierCPA]

@cpa_ready you're right there– a 74 hurts bad! I was there for REG as well. At least you know you aren't far off. On the other hand I am far off, I scored a 64 :(. I still am baffled by my report card. It said I was weaker in Sims when I can vividly remember all my questions and still wouldn't have changed much even after going through material since then.

My test is Oct 20th. I tried to schedule it the latest date possible to get the shortest turnaround on the score release. I cannot stand the month wait! So far my angle I was going to take on the retake was to pound out MCQ's but Ninja questions seem way to easy to this point and I'm not sure I am benefiting from it. I'll probably spend another week or so on Ninja and if I still find them to be simple I will probably move back to Becker.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Candace]

@dtaham10- you have a very good point there. I didn't even consider the wait for the score release. I just checked and a slot opened up for Oct 19th. I can change now without the fee. hmmmm. Decisions.. decisions…
This will really send me to full study mode as well.
Good luck and please share tips as you move along throughout the materials.

REG- 69- Felt discouraged.. took a break.
AUD- 69, 74- The worst feeling ever. Far more painful than a break up.

[refahcst]

Is someone able to clarify the explanation for this question?

An internal auditor's work would most likely affect the nature, timing, and extent of an independent CPA's auditing procedures when the internal auditor's work relates to assertions about the:

A.
existence of contingencies.

B.
valuation of intangible assets.

Correct C.
existence of fixed asset additions.

D.
valuation of related party transactions.

[Anonymous]

@refahcst – I think C is the right answer because all the other choices rely on judgments whether or not the amounts are appropriate or not. Internal auditors cannot be involved in any work that requires some type of judgment. Fixed asset additions are pretty straight forward – something was either added or it wasn't, there is no issue of reasonable estimate or what's considered an addition.

[HoosierCPA]

@CPA_Ready if you think it will hurt your studying moving it forward you might as well leave it with the later date. I'm already going to have a hard time focusing since I am coming off studying it for 6 weeks. I am literally doing 6 weeks of pure review, if I fail or don't even come close this time I might cry!

@ref I agree with @allaboard's statement.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[refahcst]

@allaboard – Thank you! That helps clear things up!

[pharaoh]

@refahcst – I just read in the book that a good internal control for fixed assets would include periodic inspection of physical assets by internal audit. Which makes sense specially that the question is asking about the nature, time and extent which is part of the planning and risk assessment.

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[HoosierCPA]

An analysis of which of the following accounts would best aid in verifying that all fixed assets have been capitalized?

A.Cash

B.Depreciation expense

C. Property tax expense

D. Repairs and maintenance — CORRECT

I understand reviewing the R&M account is a good way to make sure you didn't expense something you should have capitalized. However, it makes no sense to me that it aids any more then Depreciation expense.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[mckan514w]

dt – I think this is because all depreciation could be recorded correctly and yet the fixed asset still could be incorrectly classified thus if you just analyzed the depreciation account everything could look okay but really not be.

oh please God please let me get a passing score on the 20th I so don't want to have to jump back down this rabbit hole of which is the best answer…..

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[Author]

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