[Anonymous]

Hi Guys,

I am planning to re-take audit on 07/05/12. Right now i am so disheartened, I got no idea form where to start and how to approach.

Currently I have becker 2011 study material+ (Wiley test bank +Ninja notes) i bought them yesterday!

I have 25 days from now to my exam date (07/05/12) . I work full time but want to work hard to pass Audit exam. Please guide me how to start and make effective plan . I have so many study plans in my head but my confidence is almost shattered.

Please guys any help, suggestion or advice on effective study plan would be really appreciated.

Regards,

Nam

[nailcpa]

Hi there…Thought I'd share my experience with you…

I work in public accounting as an auditor and I really do know a lot about auditing its just that I am a bad test taker and suck at MCQs ..So I have been trying to pass the the AUD since 2009…my work made it very difficult to study for the exam because of all the SEC deadlines week after week! I took AUD back in Sept 2009 for the first time got a 73…Then I think I got a 72 and a 74 back in Jan 2012…. I finally got an 81 in AUD recently.. I think it was my fourth time taking it ..it was a make or break situation. I had decided i would give up on CPA if I did not pass this time around…but I finally did!! and here are few suggestions for AUD

1. Forget you failed. Move on. (this was very hard to do for me but its very important)

2. Since you have already studied so much the first time ONLY focus on MCQ's and SIMS till July, no need to read the chapters and write notes anymore JUST KEEP ON DOING MCQs and SIMS OVER and OVER again till u know the questions and answers by heart BUT make the habit of reading the entire questions and answers no matter what.

3. I did not get ANY questions on Statistical sampling

4. I got TWO research questions (i think i nailed them because I read every word in the question over and over again to make sure i knew 100% what they were looking for and researched until i saw the exact words in the research tab )

5. READ READ READ…DO NOT ASSUME…READ READ READ…. EVERY SINGLE WORD MATTERS

6. Since you have both Becker and Wiley…between now and the exam date simply work on the MCQs and SIMS…do ALL mcq's and sims!!

7. Don't let your mind make u sad. Forget u failed. Its over and done with there is nothing you can do about it. Focus on mcq's . Read. You will be fine.

8. Becker has those summary notes. Those were very helpful to me for a quick last minute review.

9. The one thing i did differently because of which i passed the exam i think is patiently reading, understanding the question and then reading all the answers and selecting the best answer possible…i know has been said over and over again but the key is really reading through it all.

Hope this helps. I have been there I know how it feels to fail not once but many many times in three different tests ( i have already failed multiple times in REG and BEC as well 🙁 and I don't have kids either..I just suck at exams!…. Its so depressing but don't let it get to you. Try to focus on your goal. Good luck to us all!

AUD- Failed 3 times, 81 5/30/12
REG- X3:(
BEC-X1 🙁
FAR-

Finally passed my first exam after 2+ years of agony! I refuse to give up! Bring it on!

[Anonymous]

@NAILCPA: Thank you so much!!

After reading your suggestion. It helped me so much to gain my confidence and recover from failure and shock. yes, you are right ”we should move on.”

I tried one topic over weekend as per your suggestions. I quickly skimmed through the notes and made bullets. Then I tried MCQ reading each and every word in MCQ . “ WOW” I can’t believe that’s the magic . I know we heard this over and over again that read every word but during exam, because of the pressure we tend to forget this. I read each and every word in MCQ and found the examiner tricks that made obvious answer look so correct but when you read each work it’s so incorrect.

Example in following question: I selected the wrong answer assuming test of control is operating effectively ignoring “disbursement cycle” . the correct answer is C . which I didn’t read.

In which circumstance is the confirmation of receivables on October 31 most likely for a client with a December 31 year-end?

A. Accounts were confirmed as of December 31 for the preceding year’s audit.

B. Tests of controls have revealed that the disbursements cycle is operating effectively.

C. Appropriate audit tests indicate that control risk for receivables is low.

D. The receivables balance is material.

I can’t thank you enough for showing me the right direction. I would try to improvise on my deficiencies.

I wish you all the best for remaining part of your CPA exams.

Best Wishes,

Nam

[Keely]

The most valuable piece of advice I've been given in this process is absolutely, flat-out, DO NOT read anything into the question you're being asked. I kept messing up the practice sims in Becker because I was over-thinking my response. Yes, this is a hard exam, but it's still a test that has to be graded by a computer…practice your Becker MCQs several times and understand the general concepts as to why things are the way the are. But don't over-think it. Respond to the question you're being asked, surface-level and that's it.

I don't know if that makes any sense, but it really helped me to a decent score. Good luck!

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[Anonymous]

@ Keelydare1 – Thank you so much for your advise . I guess , i should do non-stop MCQ avg@200 per day.

zeess 91 in Audit ! its like a dream for me 😀 :)) LOL

Good Luck with FAR and AUD.

[nailcpa]

Yay! Yes and the more you start noticing your own mistakes while reading the questions the more you will stop making them. In AUD I have found that there are always two very good answers, one is the bestest and you gotta read it all to find out which one!

I also completely agree with Keely..read the questions on a surface level don't start thinking on it…keep it simple and don't over complicate!

🙂

AUD- Failed 3 times, 81 5/30/12
REG- X3:(
BEC-X1 🙁
FAR-

Finally passed my first exam after 2+ years of agony! I refuse to give up! Bring it on!

[Author]

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