Professional Responsibilities- How much do I need to memorize?

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  • #160213
    Anonymous
    Inactive

    When reviewing the “Professional Responsibilities” module with Yaeger (which I believe is new for the 2011 exam), the review course just explained the concept of things and kind of just gave an overall summary of each section in the book. Gary (the instructor) says not to kill yourself memorizing, but just read the stuff over and just be familiar with it. After taking notes during the lecture and grasping the concept of what he taught, I was able to do well on Wiley questions on the back of the module. However, when I was working with the Gleim questions tonight on this topic only, the questions on Gleim was VERY detailed. It’s like you have to have memorized EVERYTHING listed in order to answer their questions. For example, one question on Gleim was…Which of the following violates the AICPA’s Code of Conduct? All 4 choices given were nitpicky and tricky. Since the Code of Conduct is 14 pages in the book, you’ll need to memorize all of those rules on those 14 pages in order to successfully answer the question. Another question from Gleim was…In which of the following situations will Independence not be impaired? Then they give 4 tricky choices on little nitpicky things. And since the Independence rules are 7 pages long in the Wiley book, you pretty much have to memorize all 7 pages of those rules on Independence in order to answer that question.

    What’s weird is that the Wiley questions in the end of the module didn’t require this amount of memorization. Only an overall understanding of it was required, which is what Yaeger basically said. But with Gleim, I need to memorize over 14 pages of little nitpicky rules in order to tackle their questions.

    Tell me….will the actual exam questions be like this? Do I need to flat out memorize ALL the rules in the “Professional Responsibilities” module?

    I was happy when I was able to answer the Wiley questions, but now I’m very demoralized after doing so poorly on Gleim due to the amount of memorization that the questions required. I’d appreciate anyone’s help with this.

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  • #281691
    Anonymous
    Inactive

    I think being able to answer those questions in Gleim is pretty important. Knowing what violates independence and the code of conduct, and the AICPA ethics policy are a big part of professional responsibility. I wouldn't say you have to memorize those 14 pages, but at least go through the Gleim questions. Professional responsibility is 16-20% of AUD, so its a pretty good chance they could ask those types of questions on the exam. I would say code of conduct, code of ethics, independence, and SOX are the biggest parts of professional responsibility that could be tested on the exam.

    #281692
    Anonymous
    Inactive

    Well I spent almost 4 hours last night going over this module …..again!! I'll be spending all of tonight on MCQs. Let's see how I do today. Argh!!!!

    #281693
    yankeeaccountant
    Participant

    @CPAMan,

    I am in the same boat. Not really sure what to memorize. I am using Becker and they tell you that you should memorize word for word the standard report……the list goes on. UGH. I am spending time reviewing internal control and independence, then will go over sampling and that whole nine yards. Then simulations. This will be my first swipe, and would love it to be my last!!!

    When are you taking the exam? I sit on Monday the 9th…..best of luck to you

    #281694
    Anonymous
    Inactive

    Mine is May 28th.

    I memorized the Standard Report. But I think I may be a little rusty on my memorization because I was wracking my brain on other topics over the past few days. My brain loves to recycle certain things in order to make room for new material. Ugh!

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