[thelonewolf527]

Can anyone tell me… what is the difference between the “Report on Comparative F/S” on page Becker 2014 A1-45 Vs. “Report on Comparative F/S” on page Becker 2014 A2-55

Its a bit Urgent so any prompt reply will be really appreciated!

ThQ

AUD - 08/04/14 - 83
FAR - 11/29/14 - 80
REG - 02/26/15 - 89
BEC - 05/30/15 - 86

DONE!

[thelonewolf527]

So I just took the first final exam for the Audit section of Becker and was expecting there to be a single grade telling me how I did instead of a breakdown of sections so I'm unsure how to put a number to it. Here's my breakdown of sections

MULTIPLE CHOICE

– Testlet 1: 24/30 (80%)

– Testlet 2: 22/30 (73%)

– Testlet 3: 21/30 (70%)

SIMULATIONS

– Sim 1: 7/10 (70%)

– Sim 2: 5/5 (100%)

– Sim 3: 5/8 (62%)

– Sim 4: 7/10 (70%)

– Sim 5: 11/16 (69%)

– Sim 6: 3/5 (60%)

– Sim 7: 1/1 (100%)

I'm really unsure how to look at this and what a good way to grade this is so based on past experience, can anyone help me here?

AUD - 08/04/14 - 83
FAR - 11/29/14 - 80
REG - 02/26/15 - 89
BEC - 05/30/15 - 86

DONE!

[Partially Deaf]

I always got around 70% on the becker final exams, and ended up passing the actual exams anyways. I think the becker final exams are tougher than the real thing.

MBA Candidate - UCLA Anderson School of Management

REG 89 - 4/9/2012
BEC 88 - 5/29/2012
AUD 93 - 8/20/2012
FAR 83 - 2/4/2013
-All passed on the first attempt!

CFA Level 1 - Passed on first attempt in June 2014

[JamesBJames]

My data set says people score on average 12-13 points higher on the actual exam than on Becker's practice exam. I also ran some regressions in another topic that I'm too lazy to find at the moment.

You'll be fine.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[jobach_lsu]

I think he's asking how to get just one number/score out of this. I always just did (MC average x 60%) + (SIMS average x 40%)

Based on that method you would have (74.44 x 60%) + (70.90 x 40%) = 73%

As mentioned people normally do at least 10 points better on the actual exam so I would expect somewhere in the 80s at least.

AUD 4/4/2014 - 97
FAR 5/29/2014 - 97
REG 7/10/2014 - 90
BEC 8/1/2014 - 89

[theCPA15]

Also keep in mind that Becker sometimes grades the SIMs incorrectly. For example, if it's a journal entry, it marks the question wrong if you didn't put the debits and credits in the order the answer has it. I'm not sure what types of SIMs are in the audit final exam, but that's what happened to me with FAR.

[jobach_lsu]

Yeah I always had to go over the SIMS and basically regrade them myself because I really had some parts correct but Becker marked them as incorrect.

AUD 4/4/2014 - 97
FAR 5/29/2014 - 97
REG 7/10/2014 - 90
BEC 8/1/2014 - 89

[thelonewolf527]

The sims were pretty straight forward, the only strange one was one with a bunch of “only check off what is right” boxes but if you correctly do not check off boxes that should remain unchecked, they also gave you points for that.

AUD - 08/04/14 - 83
FAR - 11/29/14 - 80
REG - 02/26/15 - 89
BEC - 05/30/15 - 86

DONE!

[thelonewolf527]

Well after doing decent on the first final, I completely bombed the MC portion of the second one. Here are my scores:

MULTIPLE CHOICE

– Testlet 1: 16/30 (53%)

– Testlet 2: 21/30 (70%)

– Testlet 3: 19/30 (63%)

SIMULATIONS

– Sim 1: 7/8 (87%)

– Sim 2: 55/60 (91%)

– Sim 3: 4/5 (80%)

– Sim 4: 11/20 (55%)

– Sim 5: 7/10 (70%) (REVISED after reviewing Becker telling me I got this wrong when I didn't)

– Sim 6: 18/20 (90%)

– Sim 7: 1/1 (100%)

I now REALLY have no idea how to look at these things because the MC section the first time around I averaged close to a 75. Now I averaged closer to a 62 and found many specific questions I honestly don't remember looking at at all or were really confusing. I was averaging about a 93 on the progress tests I was taking as well so this really throws a wrench into everything and I'm starting to panic a bit that come exam time I may not understand this stuff as well as I thought I did

AUD - 08/04/14 - 83
FAR - 11/29/14 - 80
REG - 02/26/15 - 89
BEC - 05/30/15 - 86

DONE!

[theCPA15]

I found this useful: https://www.another71.com/cpa-exam-forum/topic/post-your-becker-final-score-vs-actual-score

[Sarah1421]

CPA_IN_Making – looking at those pages quickly (and this might not be the depth of answer you're looking for), A1 is referring to a report on comparatives when both periods are AUDITED (whether by you or a predecessor).

A2, on the other hand, is referring to the situations where comparative FS are COMPILED OR REVIEWED… and how there's different rules when you have a predecessor. It talks about service upgrades/downgrades (of what you're doing) and how to handle a predecessor's report if it's reissued or not…. etc.

Hope that helps!

FAR - 90
AUD - 91
BEC - 86
REG - 87

[Anonymous]

ThQ Sarah

Just a little more elaboration

Does A1 means then an auditor is re-auditing PY FS (even thou its been audited by predecessor auditor). Why would an auditor re-audit the PY F/S?

Also per page A1-49 B. Report on the Predecessor Auditor NOT reissued ( what this means?).

Sarah: I will really appreciate if you can please briefly Summarize these 2 topics (report of comparative F/S) to me. basically the logic behind why we are having this report on comparative F/S.

I will be very thankful to you. I am really confused abt it.

ThQ

[Sarah1421]

I'll do my best here!

You wouldn't “re-audit” the FS (in A1). But, because both years are presented, your report should refer to each period appropriately (does your previous opinion still apply? what responsibility are you taking for the previous report?). Basically, the logic behind needing to address the prior year FS when it's presented with your current year audit is to MAKE SURE a FS user doesn't assume you are expressing an opinion (and taking responsibility) for more than you really are.

If you audited both years, you could change your mind about the opinion you expressed previously – but it would be about a specific event or situation. For instance, if you qualified a report because of a departure from GAAP, management fixed it and restated their financials, then your qualified opinion is no longer appropriate. You need to express your change in opinion (including the info in “DORCS”) in an emphasis of matter or other matter paragraph in the CURRENT YEAR'S report.

As a predecessor, you aren't required to reissue your report on the previous year. In fact, there's a whole set of requirements of the PREDECESSOR if they decide to reissue their report – they have a duty to make sure their report is still appropriate (reading the CY FS, comparing PY vs. CY, obtaining letters of rep, dating report as appropriate). On the flip side, if they decide NOT to do this extra work, the successor should add an other matter paragraph that explains the situation, type of opinion expressed previously, any reasons for modification, emphasis or other matters, and the date of the report.

Up until this point, we were talking about a current year AUDIT. In A2, we switch gears to the a current year COMPILATION or REVIEW (which again, are presented in comparative form). A2 discusses service upgrades (CY review, PY compiled) or downgrades (CY compiled, PY reviewed) and similar rules when a predecessor auditor is involved – a difference that I think you might have noticed (and may be confusing you) is that you MAY decide to perform the level of service instead of asking the processor to reissue the report. Reason being, if it's just a compilation, it may be easier for you to take care of it yourself! This would NOT be the case in for a PY audit (as in A1).

Let me know if you still have questions. I'm happy to help, but I gotta run right now!! 🙂

FAR - 90
AUD - 91
BEC - 86
REG - 87

[Anonymous]

thQ so much Sarah for the detail explanation. I will let u know if i have more questions.

I really really appreciate it. I will go over the chapter again…. i m sure it will make a lot more sense to me now 🙂

I see that u are taking ur exam preety soon.. I am sure u will pass it in ur first attempt since u have such a solid understanding….

I was thinking of taking my exam in Aug.. but I might move it…. when i read the chapter i do understand topic by topic.. but unable to get the big picture and how everything is connected.. u do great in that. trust me!

Since u will pass ur exam, i wont see u in AUD thread anymore.. this may be inappropriate, but is it a way i can direct u my questions, if any (may b via email or smthing)? Since u are also using Becker , it makes a lot easier to post quires ….. i usually understand quickly but sm time sm topics throw me off and the way u explain, is perfect for me… i really want to pass this exam (just like every other person) and sadly i dnt hv any help at all….i do a lot of google, but smtimes i feel like i m all over the place…

All i need is for smone is to summarize the logic behind the chapters… n then i m sure i will get it all…I hv read the entire book once….

if u dnt feel comfortable in sharing ur email.. plz let me know n i can share mine 🙂

but if this is not okay.. i will totally understand…but trust me u are great!

God bless u n ur entire family

ThQ once again 🙂

REG 89

AUD: TBD

[Sarah1421]

I'm so glad I could help!! And I totally understand where you are coming from – which is why I think this forum is so helpful (wish I'd utilized it before my FAR exam!!).

How about you start new thread that's titled something like “BECKER specific AUD questions!!”? You can mention whatever you title it in this thread and I'll watch for it. It's not a perfect system, but you may find other people who know the answer as well.

Since all my email accounts have my last name in it, I'd rather not share them here (kinda sounds paranoid, I know… and I'm not 100% why I feel that way considering I don't plan on posting anything I'm not comfortable being associated with!). I'd rather stay an anonymous “Sarah”… lol But, if you want to post your email here, I'd be fine sending you an email directly from my account. Just be warned, I certainly don't consider myself an expert by any means – I'm just glued to my materials and can translate the concepts pretty decently. 🙂

FAR - 90
AUD - 91
BEC - 86
REG - 87

[Anonymous]

Good Luck Sarah on your Exam 🙂

[Author]

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