Thanks beechcrest for ur words. Waiting to complete in 2013
FAR: 80(Jul 2012).
REG: 72(Jul 2012), 78(Oct 2012).
AUD: 71(Nov 2010),74(Jul 2012),74(Oct 2012),75(Jan 2013)- Thanks God, without you i couldnt have done this. I'M DONE !!!
Thanks beechcrest for ur words. Waiting to complete in 2013
sln - You will finish up in 2013. I'm sorry that your wife is being hard on you about it. But don't worry, many of us deal with those around us not understanding how difficult this exam really is. Hang in there.
Beechcrest/AnnaNutha - I won't get to the reports until chapter 5 (probably early next week). I wrapped up Engagement Planning and started Internal Control this weekend. Hey, AnnaNutha, FOCUS!!!! I know you love your other forum, but you can spend all the time you want on it AFTER you're a CPA :) Tough love here, lol.
I changed my mind and decided to use Yaeger CRAM for this retake. I started the first video this weekend (4.5 hours long!!!!). I only got through half of it.
AnnaMay, I second your Ninja endorsement. I listened to Jeff's Internal Control on the way to work today. Covered the complete chapter and I think it's awesome.
I didn't do as much as I expected -
the first chapter was all Audit report stuff...
I hope to get to the MC's by Wenesday.
I also didnt take many notes - which isnt good I think.
@23 Don't worry, I almost NEVER get as much done as I planned. To keep my schedule realistic, I add and extra 30-45 min. to any estimated time for a day. I've heard of people taking or not taking notes using Becker. It'll be dependent on how you learn. I retain by writing and rewriting. If you get to the MCQs, you'll have a good idea of how your current method is working for you. But it really sets in during the final review (last 2 weeks).
I think I need to take notes- how else can i review?
Some Becker folks just reread the highlighted portion in their books and use the questions to create notes for review, I think. I'm probably not the best person to ask, sorry.
@23K I have done Becker and felt it prepared me pretty well. I have an issue reading the text in that I don't retain material, but do think that reading what was highlighted and noted in the margins is a helpful thing.
More than the reading, though, doing the multiple choice questions and cumulative tests helped me immensely. I did not realize there were practice tests at the end the last time I took the audit exam. I know if I would have taken those and reviewed after (and not taken the pain pills the night before), I would have passed.
If you want more reassurance, the 10 point package on this site is fantastic. Currently, I'm working Becker at night and on the weekends, listening to the Ninja audio in the car to and from work and am working Wiley on my lunch hour. I have the flashcards loaded in my phone, too. So, on a break at work, when I'm standing in line, or in the doctor's office waiting room, I can keep working.
I'm sure it sounds like a lot, but I have no doubt that I will pass audit this time.
Edit: Now that I am watching the video for the second time in Becker, I am taking manual notes. I have read where some people watch all the videos twice. I just didn't the first time. I will review those notes, as well as take a deep look at the Ninja notes.
I know that checking the NASBA website for my REG scores now is a waste of time. It would be more productive to think about GAAS, and unqualified and qualified opinions with the hope that I finally passed REG! Anyway...I should think positive and study AUD which is what I am about to do. The scores will get here when they get here.
Trying...still keep clicking to check the score though. I wonder if they've ever IP banned anyone that clicked too many times? lol
Even though I'm 98% sure I failed FAR (because I ran out of time) I have to admit I've checked the CA website for my score. And it comes a day AFTER the others, lol.
Ok study buddies... I'm off. Going to watch an hour of video and do MCQs for Professional Resp., Engagement Planning and Internal Control.
In dealing with uncertainty, the auditor can give a qualified opinion or an disclaimer or adverse opinion if the financial statements would be misleading or the uncertainty is material. I assume that the questions will tell us whether or not if the uncertainty is material or not or will we have to use our judgment. Any thoughts?
I've been instructed the default is to assume they are material, UNLESS stated otherwise.
Just got through all the videos for A1: Audit Financial Statements: WOW I feel shocked already..
I'm almost thinking what did I get myself into .. lol...
can anyone please give any tips on how to better understand the auditing procedures by transaction cycle???
AnnaMay - Just to make sure... you are asking for tips on understanding the procedures for each cycle: Sales/AR/Cash Rec., Purchases/AP/Cash Disb., Inventory Production, Payroll, etc.?
Just bought Ninja Notes - Hopefully this will tie things together...
Happy Studies !!!!
@23K, no pun intended?
I do believe I am becoming an audit report ninja! I intend to finish up the Becker MCQ's in chapter 1 tonight. I have finished all the Wiley reporting questions, the Ninja audio, the Ninja flash cards and...oh I almost forgot the Ninja notes. Tonight!
I'm signed up to take AUD 1/5. Started studying last week, got one day done, then CPAexcel program decided to stop working for me. Finally got it fixed this past Thursday, and haven't had time to study since. My husband and I closed on our house Thursday, so we spent all weekend moving and settling into the house. Need to get back to it tonight!
I sat for FAR today and now I'm back at my desk getting ready for Audit. I am going to use Gliem and really try to stick with their program. I happened to find a meetup group in my area with some serious CPA students.
Good Luck everyone.
AUD - 01/12/13
Oh that's lucky! How cool, I love study groups. They help a lot.
@MCLKT Thanks for the response makes sense.
An accounting friend of mine told me that she knew of a company that got an disclaimer of an opinion. The company's documentation was so lax, that the auditors could not get sufficient evidence. Of course, all of those accountants are looking for jobs. Have any of you have experience of companies getting other than an unqualified opinion? No names. I am curious. Doing what I can to 'absorb' the info.
I haven't heard of any, but that would be appalling.
I finished chapter one but am interested that I keep learning new things when I go back through. I'm wondering if it's possible to ever be totally prepared for this exam. It would be great to have time to re-do all these questions again.
Anyway, I'm moving on and hoping to be done with the video for the Becker chapter two by Friday. Tonight and tomorrow night will be cut short with other plans, but I'm sure I'll fit studying in at least a bit.
I'm half way through the questions on A1 in Becker -- Wow the wording is tricky --
I'm currently working on studying for AUD. Just to give everyone some detail on my background, I graduated in May 2012 and began the CPA exams in July. To date, I've passed FAR, REG, and BEC all before starting my full-time job at an accounting firm. I started studying for AUD on Nov 18 and I'm scheduled to sit on Jan 7, 2013. My study plan is 2 hours each weekday and 4 - 5 hours on each day of the weekend. Between the Christmas holidays and my scheduled time off I'll have about two full weeks of nothing to do but study. I'm taking Fridays off from studying just to keep some level of sanity. I'm single and have no kids so I'm just trying to pass the exams asap.
I just wanted to share my journey through this process with everyone. Good luck everybody!
How very cool, you really have it going on! Your plan sounds very well thought out and doable. I'm excited for you to finish this up in January! :)
Hey everyone! I feel officially behind now. I'm getting anxious about the score release and can't stop reading all of the topics on this site, lol. I need to refocus. I've completed 3 chapters and will spend today and tomorrow doing all MCQ and Sims for them. Then start chapter 4 (Evidence) on Friday. I'm going to TRY to stay off of A71 until Friday morning, when I anticipate CA will have posted the scores.
Good Luck to everyone waiting!
Oh, I have a couple of graphics that I use to help with understanding what opinion to issue in different situations and control deficiencies. I need to see how I can draw it, and save it online and link you all to it. I find it soooo helpful.
Edited to Add link for Control Deficiency image: http://postimage.org/image/c5qv078qv/
PS for my own memory a refer to Material Weakness as the Baddest B*tch :)
Hello Everyone, Just took my FAR exam couple of days ago and I am taking audit this coming window too. Just started my studies today. Want to wish all of you Good Luck! and study hard!
@kristo123 I wish you well, too.
@23K, reading from your previous posts, i am too doing Becker Self-Study. I am taking notes when the instructors specifically tell me to write something down and also whatever I could catch from their explanations if anything. However when doing the actual questions, I take my time and write more expansive notes from question explanations on the side margins of the topic or paragraph covering the question. If I have a better understanding of the question (in my own words) I also add that as well. This helps me to understand and retain the concept and also is a good review when redoing the questions. The notes for the questions will already be there to solidify the concepts covered.
The Becker Auditing seems very good. I am reviewing the different auditing opinions and the conditions for each one. The MCQ are very thorough. Now, I need to stop checking the NASBA site for scores that are not there.
Are you taking notes on every MCs questions? - my downfall is that I'm not taking enough notes.....
I will increase note taking tonight & going forward.
I also appreciate everyone’s input.
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