[fireblaze240]

Hi all,

I am currently re-studying again for AUD (literally I hate this exam section so much). This would be my 4th time retaking this exam. I have scored 70/72/74 (4th time is the charm?), so I know I am not totally clueless on the exam contents. However I have always been struggling with the simulations, particularly Journal Entries. You can imagine my excitement when they announced the exam will be 50/50 instead of 60/40 on MC/TBS. Is there any tips on how to do well on the TBS, particularly Journal Entries? I seem to generally get overwhelmed when those happen to show up and I don’t know how to approach them. Any tips would be appreciated!

BEC - 78
REG - In Progress..
AUD - In Progress..
FAR - In Progress..

[Wannafree]

Your score shows you know the stuff.For JE what I have seen they follow some basic stuff like Adjustment JE. Don't get overwhelmed at JE simulation.Normally they ask 3 type of JE is simulation ( yes based on my 3 attempts ) as follows:
1.Some accruals they didn't recognize.
2.Some cash to accruals differences.
3.Some corrections.
So please understand the concept of accruals ( google , youtube ,books) .
Some basic of JE , all income and liabilities will be credited.
All expenses or assets will be debited.
Equities will be credited.
Now suppose first calculate what should be (most likely on accruals basis ) and how much was passed.The diff is going to be reverse ( adjustment JE ).You may read

In short , read accruals and once you are clear on accruals AJE is easy.

[Author]

Replies