The Ratios on the Audit Exam

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    Topic
  • November 25, 2011 at 9:49 pm #163387
    goforCPA
    Member

    Hi all,

    Would someone please let me know if the ratios (i.e. Liquidity, Activity, Profitability etc) are actually provided to you during the exam or do we have to memorize them?

    Thanks

    October 2011-May 2013. Did not loose any credit!!
    AUD - 73, 79
    REG - 86
    FAR - 72, 83
    BEC - 80, last one, DONE!!

Viewing 6 replies - 1 through 6 (of 6 total)
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  • November 25, 2011 at 10:02 pm #311007
    Anonymous
    Inactive

    I hope they are provided and I thought I heard someone said that they are provided, but im not sure. But i would say memorized the basic like quick ratio, current ratio etc… just the basic.

    November 25, 2011 at 10:07 pm #311008
    KasiaS
    Participant

    Sorry to disappoint but the ratios are not provided anywhere. It's one of those things you just have to commit to memory. You also need to be able to analyze what those ratios mean and know which is a liquidity, profitability, etc. Just make notecards and read them until you know them by heard. Make sure you know what is used in determining working capital, quick assets, and the such.

    For FAR, you'll also have to know how to calculate the weighted average of shares for EPS calculations, so don't skimp on any part.

    FAR 88 (07/15/11)
    BEC 83 (08/31/11)
    AUD 81 (10/15/11)
    REG 83 (11/26/11)

    Used NIU Correspondence CPA Review

    November 25, 2011 at 10:10 pm #311009
    Anonymous
    Inactive

    @KasiaS,

    🙁

    but thanks for letting us know now, i would definitely hate it when i see that the ratios are not provided on the actual exam. start making flash cards i guess 🙁 good that i took FAR already and some of the the really basic one i already got them down.

    November 25, 2011 at 10:16 pm #311010
    KasiaS
    Participant

    @atelery, if you passed FAR the ratios shouldn't be any worse for AUD. As long as you understand the ratios and can reasonably analyze the results, you should be fine. Keep in mind, this is not a real big part of AUD.

    FAR 88 (07/15/11)
    BEC 83 (08/31/11)
    AUD 81 (10/15/11)
    REG 83 (11/26/11)

    Used NIU Correspondence CPA Review

    November 26, 2011 at 8:17 pm #311011
    Yvonne570
    Member

    Learn the ratios, once you learn them, this will be easier. Very important to know for AUD and FAR.

    AUD - Passed:)
    FAR - Passed:)
    REG - Retake TBD
    BEC - Missed by 3 points Retake TBD

    November 26, 2011 at 8:28 pm #311012
    nnenna
    Member

    ratios were provided to me in aud …..but u need to know for othr sections even though i think its in the research tab

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