Reasonable Study Time for Audit Exam - Page 3

  • Creator
    Topic
  • #160847
    Anonymous
    Inactive

    I have been studying for Audit since July 1 and I test on Aug 31. I study about 3 hours after I get off work everyday and about 8 hours a day on the weekend. I read all of these forums about people saying that 160 hours is more than enough time to study! How?? Unless you have background/experience with Audit, it seems pretty unrealistic. Of course, everything is possible, right? But honestly, I don’t get it. It takes a substantial amount of time to go through the lectures, read the chapter, do the book MCQ’s, do the CD MCQ’s and then go through the ALL the MCQ’s a few more times (at the end of the day, you’re talking over 3,000 MCQ)!!!! And considering its Audit, it takes a real thought process when answering questions. How in the heck can that only take 160 hours? Someone please advise me as to what I am doing wrong. Thank you 🙂

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  • #1520569
    Miye
    Participant

    I am currently studying for the AUD CPA exam using becker and I am wondering how exactly to study i.e how many times to watch lectures, read text etc. Any advice will be helpful

    #1520632
    C / X
    Participant

    You are asking about an “average benchmark” not a set in stone guideline. The 2nd time I studied AUD I took 1/4 the time I studied/not studied the 1st time because I already had the info fresh in my head.

    How MUCH you have to study for AUD depends on your strong and weak points, what material you have already studied (because a bit of material crosses over from BEC/FAR/REG),

    Example:

    1. I have “actual accounting” experience and I can tell you right now..every little thing matters so when a question involves timing, all-or-nothing, etc and I've dealt with answering auditor's questions so I understand that the best answer is always the “safest answer.”

    2. I have never done audit but I have corrected books and have little experience with compilations (which is kind of similar in the fact that there are always mistakes or ppl doing things the wrong way so I understand the part where you have to verify and make sure ppl did things right) I once explained a bank rec to someone like this: If your bank says you have 5K and you say you have 10K who am I going to believe?

    3. Half of audit is about CYA…which is universal to all businesses. It's a caution thing.

    The “hours” you have to study for AUD are how long it takes you to understand/retain the info. A quantitive number is used an estimate, and estimates are used to keep track of things you don't know the answer to..I keep track of the days, not the hours, because that is way too anal retentive for me.

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