Use of AL on audit sims/ Financial ratios

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  • #176252
    Anonymous
    Inactive

    Hi, taking audit for the first time on sat, was wondering if anyone had advice on ways to identify the relevant keywords that should be plugged into the auth lit? Having trouble navigating to the correct topic that can help me. I’m not planning on solely relying on the auth lit, but I heard that it may help with uncertainties. Any tips would be a great help.. thank you!

    Also, are financial ratios a heavily tested topic?

    Good luck to everyone!

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  • #397669
    LSNYC
    Member

    I found that it was easier in the actual exam then in my practice. I searched for key phrases in the question and was able to answer 2 (maybe 3 I don't recall) whole tabs this way. I found WORD FOR WORD answers to the tabs I was able to find. Not every SIM is something you can search, (at least my last exam wasn't). I search for about 5-10 minutes before I was able to find the correct section for each SIM then i was able to find all the answers for that tab.

    Not much help I know,but it is totally do able, I only tried it on my last try on audit and it made all the difference!

    Good luck

    A - 61, 91!!
    B - 78!
    F - 76!!!
    R - 71, 73, 74, 69, 77!!!!

    Finally done!

    This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

    #397670
    jlg2010
    Member

    I was done with audit MCQ in 70 mins…I did the sims in 45 mins…I spent the remaining 2 hrs to review the sims by referencing the auth lit. And it is very helpful! I had questions that didn't think could be answered in the literature that helped big time…one of the keys is to know which section to look in. During practice most of the sims (Wiley) were from the AU…once you identify the section I think it fairly easy to do a search.

    FAR Aug 12 84
    Aud Feb 13 99
    BEC Apr 13 86
    Reg May 13 87 Done!!!

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