[jenuno01]

Hello all! I am studying for AUD and the transaction cycles are driving me crazy! How important is it to know these? Are they heavily tested? Should I be overly concerned about them? Thanks for your input!

Class of 2012

[misanthrope87]

It seems pretty important to me. Read that section at least 3 times.

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[iPass]

Honestly, I would not stress about them too much unless you don't have at least a basic understanding of this topic. Just make sure you go through all the MC questions and you'll definitely get a better understanding.

BEC - 10/12/2011 - 78
AUD - 11/23/2011 - 84
FAR - 02/22/2012 - 76 (I'll take it!)
REG - 08/31/2012

“Win as if you were used to it, lose as if you enjoyed it for a change.”
-Ralph Waldo Emerson

[jenuno01]

thanks @ipass… I went thorugh the whole 121 MCQs on Becker twice… it was pure torture…. but I think I should be ok now!

Class of 2012

[Yvonne570]

Audit cycles are very important. It's important to understand the risks and testing involved in all areas. Get to know the relevant assertions that would affect each cycle at the minimum. Review why these assertions are important, which may help you understand and hopefully feel comfortable in this area.

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[Anonymous]

@jenuno01,

work on this A4 multiple times, you will eventually get it. I can tell you that the first time I was doing those 121 questions I got below 50%, then I just kinda memorized the questions and the answers hoping that the actual CPA exam questions will be word for word of Becker. Obviously that didn't work as I failed on my first time.

This time I was hoping to really nail the topic, and surprisely, I got most of the questions right, around 70 – 75%, not too great but better than my first round of below a 50%. I went through A4 one time and hoping to spend the entire Sunday to work on A4, good luck to you 🙂

[Yvonne570]

What I did was retype the reports – only. That was to remember the different reports and content within each reports.

What did you type?

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[jenuno01]

@atelery thanks for your help! I did eventually get it last night (I stayed up until 2am!) … what finally helped me get it was knowing the documents involved in each cycles and realizing that tracing and vouching can start at any point in the process(not just source to GL and viceversa)

For example, I ended up writing down the docs for the Sales cycle in order: Sales Order, BOL, Invoice.. then I would analyze the question based on what the auditor was trying to accomplish… I found that Becker had many mistakes in calling something vouching or tracing… so again, I just focused on what the auditor was trying to accomplish, and on my second try I scored 95% woohoo

Class of 2012

[jenuno01]

@Yvonne thanks! I am planning on taking your advice of typing up the reports… I will probably do that Monday so they stay fresh in head! Thanks for the idea!

Class of 2012

[Yvonne570]

I'm predicting you will get a 99 on this exam:)

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[jenuno01]

@Yvonne LOL! Thanks! A 99 would be awesome…but I would be just as happy with a 75!

Class of 2012

[Author]

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