[DarkHorse]

I am having an incredibly difficult time getting the Audit procedures by Transaction Cycles MCQ down. I have watched the lecture, tried reading the chapter, and memorized the notecards for this chapter. However, when I do the Homework questions its as if I studied something completely different. On the 117 MCQ HW I got an 63 and then re-did my 43 incorrect MCQ and got a 65.. I don’t understand what else to do in order to learn this material. The other chapters seem to work with watching the Lecture subtopic-> then doing specific subtopic MCQ study method however A4 just is not clicking.

Does anyone have any advice, additional resources that I should purchase, or how to use the Becker material for this?

This is so frustrating. I am putting in so many hours, yet I feel like I’m not learning this at all!

[Ash]

A4 is a lot of material and it pretty important to have an understanding of it all. So what I did and it might work for you I created a simple summarized excel spreadsheet to help me understand what actions to take for the different assertions in the different cycles. Personally anytime I write things in my own words it helps. I read it a few times and when I did the questions I did much better than the previous time I was studying. Also I try to rationalize the question while I am reading it and can usually use logic to get to the right answer. Hopefully you will find some trick to help you out.

AUD- 72, 71, TBD (now i am pissed no more messing around)
BEC-8/29/16
REG-10/10/16
FAR-70 retest-11/28/16

[Ash]

whoops doubled up

AUD- 72, 71, TBD (now i am pissed no more messing around)
BEC-8/29/16
REG-10/10/16
FAR-70 retest-11/28/16

[DarkHorse]

Thanks aCPA143

anyone else have any suggestions?

[dgmorman]

I am struggling also with this. I took audit years ago 4 times and never passed… Highest I got was 68 then took it again on May 31 this year got a 71… Taking it again Tuesday and I just don't feel any better then before. Either I will get questions I know or I won't. I just don't know how I can possibly improve. I hate the audit portion…. I passed far in January and have the others left.

Far - 75 01/04/16 - Yaeger
Aud - 71 05/31/16 - Yaeger ...retake 86 7/5/16 Yaeger, Becker study guides, ninja MCQ /sims
Reg - 09/02/16
Bed - 10/24/16

[Mike J]

While I wouldn't call myself an expert, I'm fairly comfortable with this.

You have to think about it logically. DO NOT MEMORIZE!!!! I know because I tried to do that the first time out.

A question may ask something like…in the Sales Cycle what is the best way to prove completeness, with respect to employees pocketing cash sales rather than record them. You will be tempted to “remember” that Completeness merely means going from the sourCe document to the general journal. Instead, think of Completeness as this–every transaction that was meant to be recorded IS recorded. So in this scenario, you'd want to observe the employees use of cash registers and tapes, for instance. A tempting choice may have you trace the cash register to the general ledger–you need the proper starting point (when the entity would receive the cash).

You will memorize by default when you just write everything out on scratch paper. Just write out the steps of the Voucher System–from Stores to Purchase Dept, to A/P, to Receiving, back to Purchase, back to A/P, then to the Treasury. Think of which documents are sent to which departments and from where. Write it out a few times. Read it. It will make sense if you just give yourself an hour or so to just look at each of the major three cycles. Then, with the cycles written out, look at the PERCV, or MGT's assertions.

I promise you there is a logic to this all. Just don't try to memorize it all.

[THEJOURNEYTOSUCCESS]

You are not going to get more than 10 questions on the specific topic. Grasp as much as you can and move on.

FAR 87
AUD 88
BEC 85
REG 87

[Mike J]

@Journey, that's not true. You could very well get this in a SIM with a flowchart

[Author]

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