[Anonymous]

I am on my third time studying for Audit–I got a 74 first time and 71 second time. I feel like the SIMS have really hurt me both times, and out of all the Becker chapters, I still have trouble answering the homework questions and doing SIMS on the Transaction cycles. I’ve memorized each step within all the cycles, understand directional testing, I get all the relevant assertions, but when I am faced with a question about specific scenarios and audit procedures, I struggle.

Does anyone have any tips on improving in this area? I’ve spent more time reading Appendix 2 in Chapter 4 which lists control procedures, but I just can’t seem to translate the material from the book to answering questions on specific audit procedures.

[Anonymous]

I am in the same boat as you using becker and could really use some tips and guidance to understand specific scenarios better. They never end up being the assertion or audit procedure you would think seems to be the most logical. Somebody help us!!

[WaitingonScoreRelease]

Chiefs & CPA State of Mind,

Your questions/statements are very general and I (and others in this forum) would like to provide some assistance, but could you provide some specific questions that you may not be understanding?

Good luck!

Aud: 99. (May)
Bec: 89. (April)
Far: 84. (Feb)
Reg: 79. (July)

[Hspa222]

@WaitingonScoreRelease I'm in the same boat at them.

I'm having difficulty applying or understanding how a transaction cycle can be tested on the MCQ part.

AUD- Retake APRIL 2016
FAR- 1st attempt MAY 2016

[LoneMount]

I agree with WaitingonScoreRelease, your question is too general. Maybe you should provide some details to help illustrate your situation.

But I would recommend you to make sure that you know the ideal internal control first. For example, for revenue cycles, the shipping department will receive what kind of documents and issue what kind of documents. Do some summary, and know the controls. I think for most of the Test of Control questions, if you remember the ideal internal control well, you can easily identify the right answer.

As for substantive procedures, when you do a question, first identify if it is testing a transaction, a balance, or a presentation. Then come up with the applicable procedures, which Becker has mnemonic.

Again, the question is too general. I hope this helps. Good luck!

CA Candidate
FAR - 96 (Feb 2015)
REG - 95 (Apr 2015)
BEC - 89 (May 2015)
AUD - 99 (July 2015)

[Hspa222]

@LoneMount Thanks! That really helps. I'm hoping to square that away before my exam.

AUD- Retake APRIL 2016
FAR- 1st attempt MAY 2016

[Anonymous]

Sorry for being vague, but my specific issue is answering questions that provide a specific scenario and I need to answer with the correct control or substantive procedure. Becker has some SIMS like this that are basically matching columns. @LoneMount, your answer definitely helps–thanks. Has anyone used appendix 2 in chapter 4 of Becker? I guess I am looking for more ways to become familiar with these scenarios and to figure out any hints/tips that I should look for when choosing the appropriate procedure.

[Author]

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