[hopefulcpa06]

I took AUD in July and failed it by 2 points. I felt pretty good on MCQs and SIMS weren’t too horrible, except one. I had a SIMS related to J/E (haven’t done that in awhile). I’m pretty sure I got my debit and credit mixed up and may have failed because of it. I haven’t gotten my performance review, so this is all predication.

Anyways, I’m hoping to retake AUD in next window, and there’s no way I’ll be able to take FAR before it. I’m really scared that I’ll have bunch of FAR sims and I’ll fail again….totally unfair.

I’m def. gonna skim through J/E in FAR, but obviously I won’t be an expert at it.

What’s the best way prepare for FAR sims in AUD?

Any advise/tip is welcome…so please please let me know what you all think!!

Thanks!

[Snausages]

@hopeful: please don't freak out over FAR on AUD. there is a bit of it for sure on perhaps some SIMS, but it's shouldn't dominate the overwhelming amount of AUD concepts in the SIMS. without giving disclosure, i also had SIMS that had a bunch of J/E's, but they were easy. they were AUD situational, and not FAR intensive. J/E's alone are not necessarily FAR, it's just accounting. so don't be discouraged if you see it again. for example, if you get a questions that says you have consigned goods from a third party vendor on your docks, what does your balance sheet look like, you should know that consigned goods are not on YOUR balance sheet as inventory. it's on the one who is consigning to you. so NO entry. things like that. if you need an entry, just remember the debit-credit rule! debits add to assets and expenses, and credits add to liabilities and revenues. there are some other minutae, but that should be good enough to remember. you are going to be okay. i know how it is to miss by a narrow margin, but if you see that crap again, just review it, look at what it's asking, and plug and chug the J/E's. the level of accounting should not be harder than the first weeks in sophomore year college accounting, first accounting course 101.

[hopefulcpa06]

@Snausages, thank you so much!!! That really helped, especially the consignment thing…which refreshed my memory:) I went back and memorized debit and credit rules. I'll scan over FAR for j/e as well!! Thanks again!!

I'm ready to tackle this and pass it with a high score!!! (yes, trying to stay confident…maybe little too much:)

Good Luck!

[smuppane]

I can totally understand. I took audit and planning to take FAR in next cycle.

I had a feeling that I should understand how journal entries are made and so 2 days before exam googled on it. Just remembered assets and expenses increase with debit. Then from that rest can be concluded. Boy did this help? You bet

I would say AUD after FAR would increase your score but it is not absolutely not required.

REG - 07/01/2011 - 93
AUD - 08/25/2011 - 95
FAR - 10/29/2011 - 94
BEC - 11/28/2011 - 90

[tbstew]

A great place to review accounting basics for the AUD or BEC exam is https://www.accountingcoach.com/

Not only do you get a good review of the basics, but they've got an intro to some intermediate stuff on there. It also has a lot of cost accounting stuff for those getting ready for BEC.

Is it a review course? No, but it's a good place to get a quick refresher.

AUD - 79
BEC - 88
REG - 87
FAR - 86 - Woot, all done!
Ethics - 100

[HazeEastwood]

You need it some but now a whole lot. Just things like disclosures etc. Its nothing major

FAR-81
BEC-84
AUD-91
REG-89

[hopefulcpa06]

@Haze: What disclosures? Basically what should be disclosed in the F/S…I'll look that up online as well! Thanks

@tbstew: Thank you sooo much, that def. helps a lot!!

@smuppane: If only I had looked at it, before I went in…might have passed it! Congrats on your scores, very impressive! Are you studying with Becker? Any tips for me?

[Snausages]

@hopeful: no problem! use the KISS rule on AUD: keep it simple stupid. if you overthink everything, you will confuse and bury youself.i think if you understand AUD from a high-level first, drill into the details next, then do MC repeatedly (knowing why answers are right and wrong), you'll be fine. don't lose touch of the big picture for AUD. by the way, i finished the CPA examinations, but i want to stick around and give advice to some folks the way i got good advice from people. i am also rooting for a couple of people on this thing to finish too, so my big butt will stick around for a while.

[Peanut]

@hopefulcpa06, I am very happy that you posted this. I take AUD in a week and I'm starting to get very nervous about the SIMs because of what people have said, “the SIMs are FAR related.” Glad to have feed back now to clarify. Thanks everyone!

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[hopefulcpa06]

@Peanut: Don't worry. You took FAR, so you'll have most material “fresh” in your memory…AUD was pretty straightforward compared to REG, so I'm sure you'll pass. I was so mad when I saw I got 73…I really got lucky and had pretty good MCQs. It was those sims (especially one) that killed me. Let me know how it goes, please please!!!

Good Luck!! and keep doing those MCQs🙂

[smuppane]

I am following only becker

REG - 07/01/2011 - 93
AUD - 08/25/2011 - 95
FAR - 10/29/2011 - 94
BEC - 11/28/2011 - 90

[Anonymous]

I passed AUD and didn't study an ounce of FAR. It really depends on the exam, but I think you should be fine as long as you have a foundation of financial from college.

[hopefulcpa06]

@ChrisCPA: Do you have a SIM related to J/E? Besides that, I didn't require FAR knowledge…so it really depends on that!! Congrats on passing:)

[Author]

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