Transaction Cycles

  • Creator
    Topic
  • #159511
    palal9923
    Participant

    I am using becker,

    for those of you familiar… there are a lot of flowcharts and sample test control procedures for each step of the transaction cycles…

    is it a waste of time to try and memorize these sample test of controls.. there seems to be so many of these, and I am having trouble memorizing all of the steps that go into each cycle as is..

    Any recomendations?

Viewing 8 replies - 1 through 8 (of 8 total)
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    Replies
  • #267886
    Anonymous
    Inactive

    ughhhhh I'm right there with you. I hate that section. I'm thinking of making flash cards for those along with the substantive procedures. Anyone think that's excessive?

    #267887
    herbert7890
    Participant

    You certainly don't need to memorize any flowcharts at all………….. Just read it once and move along.

    FAR 88 - BEC 86 - AUD 90 - REG 85

    #267888
    Anonymous
    Inactive

    I agree with herbert7890. It's not worth making flashcards and stressing each step of the transaction cycle.

    #267889
    Anonymous
    Inactive

    Do what you think you need to do… If you have a MCQ or simulation on it , are you going to know which cycle they are referring to? Everyone gets a different exam. If you ask me, I would say you need to understand them clearly.

    #267890
    whitesoxfancpa
    Participant

    It would be an enormous, incredible waste of time to memorize any of the flowcharts.

    What I would do is scan them a few times throughout your studies to try to somewhat remember what each shape represents. For example, what shape is a master file, what shape is a document, etc. What sticks sticks. I would certainly spend the vast majority of my time elsewhere in AUD.

    And if I wasn't understand other things well, I'd ignore that stuff completely.

    AUD 96 FAR 95 REG 94 BEC 88

    #267891
    herbert7890
    Participant

    nice to see you around, whitesox. Now im into my final battle (REG). It is going much easier than I thought but I'm still taking it February 26th, So i wouldn't have to deal with the long wait for the scores.

    FAR 88 - BEC 86 - AUD 90 - REG 85

    #267892
    round1
    Participant

    hmm, don't underestimate what life may throw at you. It could easily be the case that you might see a question relating to the meaning of these flowcharts' signs.

    Thus, “What I would do is scan them a few times throughout your studies to try to somewhat remember what each shape represents. For example, what shape is a master file, what shape is a document, etc.” This is exactly what I did – memorized all major signs (shapes).

    Don't spend too much time on it, yet don't underestimate this topic.

    DONE!

    #267893
    whitesoxfancpa
    Participant

    Hey Herbert! Glad to see you're doing so well. You'll knock REG out of the park…on my birthday!

    AUD 96 FAR 95 REG 94 BEC 88

Viewing 8 replies - 1 through 8 (of 8 total)
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