[AnotherFutureCPA]

I need some help for the Auditing portion, it is within 48 hours. I have the Becker CPA review program and was wondering what I should concentrate on for the simulations.

1.) Were you guys able to complete the simulations using the research option?

2.) I’m having trouble on the communication portion, would I be able to research it?

3.) Also should I do the Supplemental questions, if I did well on the regular questions?

4.) One of the most important questions, I have is if I have to memorize the reports “word for word”, or can I use mnemonics to get an idea of what should be in each report?

I feel like I’m going to forget everything, and feel like I’m not prepared enough. Even though I put over 40 hours a week in the past 3 weeks. Any help would greatly be appreciated. I feel soo anxious.

[Anonymous]

I memorized the reports just because I was freaking out and my Becker instructor said to do so, but I know some people who took the test and said they didnt memorize. But in the MC questions if you have a general idea of the parts of each report then I you should be fine. If you get a report in the simulation then you have the research tab to help you. Also it may depend on what simulation you get, because the research tab did help for one of my communication tabs. If you have time you may want to consider the supplemental questions those are more questions you familiarize yourself with and it can only help not hurt you.

[financeguy]

If you have the time, memorizing the reports definitely will not hurt you, however memorizing word for word I don't think is necessary. Know the difference between reports, know the order of paragraphs, know what requires an extra paragraph, and be familiar with them, and I think you should be fine.

If you understand the concepts behind the material, then you should be able to answer the questions w/o having memorized the reports word for word.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[Anonymous]

1. If you have enough time after you are finished with MC you can definitely use the research tab to help with the simulations. However, I feel like I would need more than an hour per sim if I were to do that.

2. Yes you can definitely use the research tab to help you with the written comm portion. Split your screen so it's easier to read between the two.

3. Do as many questions as you possibly can. The more MC you see the easier the test will be. If you have to pick between reviewing the book and doing more MCs, I would do more MCs. By reading the explanations for the ones you got wrong, you're reviewing you weakest points.

4. I did not memorize reports, but I also do not know if I passed, so…. :))) I feel like remembering what should be in each report is more important for MC portion that memorizing the reports and if you get any report questions on the sims you can just look it up in the research tab.

Hope this helps! Don't freak out! 🙂 That's exactly how I felt a few days before the test. For me the last two days are the most horrible. With as many hours as you put it, you should do fine. Just get a good night's sleep and take a deep breath!

GOOD LUCK! 🙂

[Anonymous]

I did not memorize the reports. Like financeguy said, be familiar with content and order.

I did MC questions including supplemental questions until my eyes bled. I probably did every Becker question 4 or 5 times throughout my studying. Those questions were an excellent match to what I actually saw in the exam. I typically scored 5-7 points lower on the supplemental questions than on the regular ones. Some of this was due to being overly familiar with the regular questions due to repetition. The supplemental questions will give you some different wording to work with.

[AnotherFutureCPA]

Thank you soo much for the replies, I greatly appreciate it.

Another question I have is if I should memories all the ratios?

[financeguy]

no need to memorize ratios

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[75 CPA]

My AUD exam is on February 27. I am memorizing the Standard, Review and Compilation reports. My plan is to spend the first 10 minutes of the exam writing down these these reports, word for word.

[Anonymous]

75 CPA,

Make sure you get into the 1st testlet before you start writing down the reports. I've heard of people who write down info while on the AICPA disclosure page & it times out after 10 min. Then you have forgone your test for the day/testing window. Just be careful!

[AnotherFutureCPA]

I memorized the Compilation as the mnemonic A LARD

A- accordance to SSARS – AICPA

L – limited to

A – not audit

R- not review

D – disclaimer

***** the report is modified to emphasize a matter or discloser or a GAAP departure.

For Rewiew of a Non-issuer as the mnemonic AM I A SAD

A- accordance to SSARS by AICPA

M – financial information is Management's responsibility

I – a review consists of Inquiry

A – a review consists of Analytical procedures

S A – a review is substantially less in scope than an Audit.

***** the report is modified to emphasize a matter or discloser or a GAAP departure.

For special reports on OCBOA are similar to a standard report, only difference is the name for the reports in the intro and the mention of OCBOA in the opinion and an explanatory paragraph preceding the opinion paragraph stating the other basis, referring to the note and stating it is Non-GAAP

For special reports on line items, remember if it is in relation to net income or stockholders equity you do a special report, only if you have audited the financial statements. If you had given a disclaimer or adverse opinion you can only do a special report on non-major items.

For a Review of an issuer, the standards are not SSARS, it is PCAOB.

[Author]

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