[Moj]

Just received my performance letter for Aud exam, and I had stronger for MCQ and weaker for sims, wondering how to prepare for sims. I used wiley, and i scored a 70.

Thanks for helping

[IwannaBaCPA]

I too am preparing for Audit and am concerned about the SIMS. I keep hearing a lot of people mentioning J/E, but Becker barely touches on J/E. Any advice from others who have passed in 2011?

BEC: 79 - April 2011
FAR: 78 - May 2011
AUD: 81 - May 2012
REG: 79 - October 2012
Ethics: Passed - March 2013
I am finally DONE!

[kyleinFL]

I take AUD on Thursday and have used Becker as my preparation tool. What is J/E and are there any other topics I should look up tomorrow to try and familiarize myself with that Becker leaves out?

BEC 5/30/11 86
AUD 7/14/11 90
REG 8/31/11 90
FAR 11/25/11 82
DONE!!!

[kb24]

J/E stands for journal entries. You might or might not have a SIM that requires you to make adjusting J/E. It would probably be beneficial for you to understand what the J/E would be for potential adjustments. Even if you don't have a SIM like this, it might also help you with some of the MCQ. What I'd recommend is that you think of the types of adjustments that the review material mentions the most and consider all the related accounts e.g. adjusting inventory will usually require adjusting COGS. You should also consider the effect on accounts that are not so clearly related such as net income and retained earnings. For example, if inventory is overstated by $1000, then COGS is understated by $1000. This also means that NI is overstated by $1000 since COGS is closed to NI at the end of the year. J/E 1 would be to debit COGS and credit inventory by $1000. J/E 2 would be to change the EOY closing entry by debiting NI and crediting COGS by $1000.

Hope this helps.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[IwannaBaCPA]

Yuk 🙁

BEC: 79 - April 2011
FAR: 78 - May 2011
AUD: 81 - May 2012
REG: 79 - October 2012
Ethics: Passed - March 2013
I am finally DONE!

[marcscavuzzo]

kb24 – Which study program did you use? I just purchased Lambers AUD and FAR since I did not have much luck with Becker Review

[OneStepAwayCPA]

kb24-good post.

Anyone else have good tips on how study the TBS. I also failed audit due to poor score in the TBS.

[kb24]

@marcs

I used the Wiley and Becker texts and the Wiley test bank. I also used the Ninja notes for REG and BEC. While I had a copy of the Becker text, I didn't have access to the videos. This didn't bother me, though. I've been out of school for a few years, but I did study most of the material covered in the exam at one time or another so little of it was brand new. The only topics that I remember not fully understanding from the text were audit sampling and IT. I did figure both of these out by using my old accounting text for sampling and the Ninja notes for IT.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[kyleinFL]

Thank KB…I am just finishing up school so I have a pretty good recollection of those types of journal entries. Any other last minute tips?

BEC 5/30/11 86
AUD 7/14/11 90
REG 8/31/11 90
FAR 11/25/11 82
DONE!!!

[kb24]

@kylein

Each test has its own areas of difficulty, and with AUD it's the wording. You have to be SO careful when reading the questions and answers because just a slight change in the wording can completely change the answer. Do as many practice MCQ as possible because those will help you become more aware of these tricks. Time isn't usually an issue for AUD because there are minimal calculations so take your time with the exam. Check your MCQ thoroughly before moving on to the next testlet. You should end up with close to 2 hours for the SIMS so use that time to carefully review your answers.

Good luck.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[syyuchen]

I have read that JE are important for the SIMs.. the problem is I haven't gone through FAR yet. What sections in FAR (Becker) may be useful to learn JE?

[Author]

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