Anyone who has taken AUD before, have you had any Qs with ratios ? Its killing me, dont feel like memorizing those...
AUD - 71, 83
BEC - 7/14
Anyone who has taken AUD before, have you had any Qs with ratios ? Its killing me, dont feel like memorizing those...
@MissCPA - For disclosure purposes, candidates won't be able to answer your question directly.
Just keep in mind anything can be tested. I thought because AUD is mostly theory, it would be good to know the equations covered. Both ratios and sampling.
@Jsmi77y and others:
At least for Becker, I appreciate how the material essentially walks the candidate through the entire audit process, with A1 providing the overview, A2 discussing requirements for firms, A3 discussing pre-plannings, A4 getting into the actual audit processes and evidence gathering, A5 focusing on sampling/attestation and A6 wrapping things up. I'm not sure how other study courses go, but that process really helped me.
Envisioning this process during my studies has helped me imagine myself as an auditor, which is especially helpful for those who are are tax associates (like myself) or those who are not in the field yet. So when I'm reviewing a section, I'm taking the time to understand why we are at this point. Example:
I see a section that discusses increased tests of controls. I will ask myself why one would perform tests of controls (i.e. is it to test operating effectiveness, are we looking at the design or operation of the control, etc.). I would ask myself the most important tests one can perform (i.e. observation or inquiry), or what happens to detection risk with control risk as a part of determining the extent of controls is increased or decreased. Blah blah blah ...
Reinforcing all of this while studying will benefit more than just taking progress reports or re-reading for the third or fourth time, in my opinion. It also gives you some time away from MCQ's so that you aren't memorizing them by doing them for the fifth time.
I'm real nervous about this one, but I figure the more I'm reinforcing the information, the better I'll feel come test day. BEST OF LUCK!!!!
@mypetmeatlball & samdiego
How did your REG go? You mentioned you were going to leave some feedback and have not heard from you. Hope it went well for you. Any insight would be highly appreciated. Thanks
Ratios aren't that bad- no harder than the MCQ's in Wiley. I'm about to take Audit for the 3rd time. You really have to know EVERYTHING cause they could ask anything. Some people just do MCQ's but I need to understand the why behind the answer, so I read the text. I am reading it over and over and it starts to sink in.
If you hate a topic or think they'd never ask a MCQ or sim on the topic, that's when they will. Be prepared!
Just finished AUD today. I walked out the examination room when I had 1:40 mins left. I studied for one week straight and spent 8-10 hours everyday using Becker 2013. Most of the questions on the exam are very similar to the ones I saw in the review. I hope I will pass it because I am not looking forward to reviewing the material again. It's a monster!
Whats up guys,
Should i be concern that i don't yet have a grasp on the simulation and AL! for some reason, when doing AL and plugging Keywords, Becker leads me back to the same paged that i previously researched?
Just took AUD today... Anybody else take it within my time frame? What did you guys think?
I took it on Thursday and wow...my simulations were awful! I totally guessed on 2 entire sims. Becker had touched lightly on the subject! It was the first time I had to guess so much during the a CPA exam! I am praying I pass. This will be the hardest 3 weeks of my life!
I hope you had a better experience.
This Saturday is my showdown with AUD... I re-work Audit evidence problems yesterday.. Hopefully it helped.
Took another pratice exam and I did worse on MC's and better on SIMs..
@23 - I was thinking about your upcoming exam and wanted to share something that helped me.
I'm a very visual learner and made a little chart to help me keep some opinions straight.
At the top - if Going Concern: you can give any of the 4 opinions.
- if it's disclosed - Unqualified or Disclaimer
- if it's not disclosed - Qualified or Adverse.
Middle - if there is a scope limitation - Either Disclaimer or Qualified
Gaap Departure - Either Qualified or Adverse.
IF scope limitation:
1 - modify scope para
& - additional explanatory para
2 - modify opinion
IF GAAP departure:
& - Additional explanatory para
1- modify opinion
I definitely feel you! I was so frustrated cause I ran out of time! I hate giving up on the answers... Especially cause I feel like I knew the material very well, and just didn't seem the SIMs reflected anything I studied.
thanks for the info - when do you find out your score ?
It's Day 1 and I just finished the first three lectures. Naturally I'm having a BLAST WOOP WOOP.
(On a positive note, it definitely beats REG so far)
I am using a different strategy for AUD studying. It's called "screw the Becker videos." I instead go through and take down the notes from the ebook (which was essentially all I did while watching the REG videos). I just don't think Tim explains things well. I don't need to spend three hours watching a video only to be told what to highlight.
Going through the book at my own pace is working much better. I've finished looking at A1-A3 in just a few days (I have some audit experience and have taken a few audit classes... so a lot of it is review).
Hopefully ignoring the lectures doesn't hurt me...
@Ceendy28 I took audit on the 17th and I feel the same as you regarding the sims. I went into the simulation with nearly 3 hours left on the clock and left the exam with only 30 mins left. Then again that's only because I had done all that I could. One of the sims was a complete shocker. There was nothing in the becker materials about and I also used the audio from Wiley, nothing there either. I find that none of the sims I got were anything like what I'd practiced. I feel like I got the hardest questions out of the whole lot. Even the research question was hard and I was feeling like I had mastered the research going into the exam. My multiple choice questions also got harder as I went from one section to the next, more application that purely theoretical.
I guess that now I just have to wait and see because I can't even venture to guess one way or the other.
Starting Ch 2 today, woops. I sit in two weeks, but I know I can do this. There is like 1/10 of the info on this exam than on FAR, I cannot believe it! Also, since Auditing was my last class I took before I graduated last May, a lot of the information is super familiar and I already know it. It was the "toughest" class in our school for Accting majors aside from 301!
I've been doing pretty well on Becker's A1, A2 and A3's MCQ's. However, I've been having trouble with A4, especially MCQ's regarding Audit Procedures By Transaction Cycles. Can anyone give me some advice on how to really understand the transaction cycles and audit procedures rather than rote memorization? I can't seem to really grasp the data and Becker just has so many acronyms, but I want to really understand it.
I took a Becker Final Exam and here is my score:
Test 1: 22/30 73%
Test 2: 23/30 76%
Test 3: 19/30 63%
Sims average was 50%
I am really worried about the sims on the exam. Do you think I am ready? I am taking the exam this Saturday.
Test this Saturday. Sounds like there are a few of us. This whole studying during busy season thing isn't working out too well so fingers crossed!!
how did you do on the final exams for the sections you sat for?
My exam is Saturday
Becker Final Exam-
Test 1: 65
Test 2: 70
Test 3: 65
SIMS - Average 45%
My scores for the Becker final exams of the other sections; I believe were actually a lot worse and I still managed to pass. I am not so worried about the multiple choice questions as I am worried about the simulations. Although when I took the Becker final exam the multiple choice only took two hours. I think another two hours on seven simulations should be more than sufficient. I can use the extra time to look through authoritative literature and make sure that I get the simulations correct. Fortunately, I am not in public accounting yet and do not have to worry about busy season. But I am working 40+ hours a week and it is very difficult to find time to study...kudos to those who are studying during busy season. Auditing is my last exam and I just want this process to be over with so I can have my life back. I have been studying for the CPA exam for 13 months!!! I don't want to have to take auditing again because my Becker materials expire in May. Then the audit exam changes in July, and I don't want to have to purchase more materials.
Your scores are close to mine. Do you feel confident going into the exam on Saturday? How long have you been studying?
Been studying for 7 weeks - I feel okay
This is my first exam - so i'm nervous more than anything
I'm glad to hear you still scored higher on the actually exam
I'm scared of the SIMs too
Let's hope they curve! I also had a lot of time going into the sims. My biggest mistake was studying on the day of the exam. I highly recommend not doing that! My eyes, brain, head all hurt by hour 2.
"DEAR LORD, PLEEASE don't make me have to study for audit again. If you help me pass. I promise to start volunteering (since I won't be studying anymore). I also promise not to kill any ants, spiders, flies. I will take them outside....PLEAAASSE, don't make me retake this exam!!!!! I BEG THEE!!!!!
Studying for the exam before (I take mine between 12-1pm) helps me actually a lot. I wake at like 7am and study for 3 or so hours before hand, but that's just me! I feel it makes me remember things again real quick which will be in my ST memory for the next few hours.
I am taking on the 1st of FEB , so far I score about 85-90 on Ch 1-4 MCQs, starting CH 5. Hope I will have enough time to be done with the 2 remaining Chapters. Anyone knows when will the scores be out for those who tested on the 1st ? Thanks
From my experience with FAR, I can tell that Beckers MCQs are similar to real test MCQs, however the simulations on the exam were very very very much different, so my advise to those who are on the final review stage - dont spend too much time on redoing sims, or dont get upset if you score low on them, instead use that time to go over your weak points.
I can't believe I'm saying this but I'm finding AUD to be even more annoying than REG. The A1 MCQ homework from Becker is absolutely destroying me.
I was told by friends who have attemped CPA exams, that FAR and AUD are the harder ones compared to REG and BEC ( of course assuming you dont have any industry specific experience)
Just took the first Becker Practice Exam:
Testlet #1 - 24/30 - 80%
Testlet #2 - 27/30 - 90%
Testlet #3 - 28/30 - 93%
Risk - 90%
Internal Control - 80%
Tickmarks - 100%
Sampling - 90%
Comp. F/S - 50%
Government - 80%
Research - 100%
I did not expect to do this well. With my exam being 10 days away, I'm thinking I might pay the $35 and reschedule. I don't care about my score as long as it is at least a 75. Given the results above, it seems like I'm in good shape. Does this strike anyone as a bad idea?
@soxfan866 - In my opinion this doesn't seem like a bad idea, but it really depends on your situation. You'll never feel 100% ready. For audit, I started studying on 11/17/2012 and sat for the exam on 1/8/2013. I felt like it was way too much time because I finished going through all of the course material on Dec 21 and basically had almost three weeks of time to review the material. I took about one and a half to two weeks to do a final review for each of the previous three exams. If I could go back I would have sat for the exam on Jan 2.
I don't want to sound like "that" person, but could anyone provide me some advice about ratios? How much time should I spend with them (are they worth making flashcards?)
I'm familiar with most of them from school, but I'm wondering if I should have them down cold for exam day or if a general familiarity is sufficient.
I don't want to sound like I'm trying to get out of doing studying (because I wouldn't actually mind and might prefer if they are heavily tested) but I'm just wondering what the general consensus is.
Thanks for any help!
GOOD LUCK TOMORROW 23k!!!!
I get my score on the 5th :)
hwtCPAexam - thanks for the advice. I checked the Prometric schedule and they only have appointments tomorrow at the test center closest to me. I think I'm going to try to take the exam on Tuesday if anything opens up.
I took the second practice exam with similar results except I bombed the first testlet with 60%, but then managed 96% in the second testlet. Weird, but I guess that's just the way it goes.
GreenMonkey - I haven't taken the exam yet, so I may not be the best person to listen to, but it seems like you could get away with only have a general understanding of the ratios. The 15 or so questions Becker has in that section seem as though they would be considered a "difficult" question if you were to run into them on the exam. I didn't do so hot on those ones, but I did fine on the questions in the other sections related to ratios and the ratios simulations on the final exams.
Honestly, you don't need to MEMORIZE the ratios. For me, it was easy knowing them because AUD was my last part, and I had to familiarize myself with the ratios for BEC and FAR.
In my experience after going through the practice exams in Gleim, CPAExcel, and then taking the actual exam, AUD doesn't really test you too much on ratios in the sense that you need to solve them. Instead, AUD tests you on how you interpret the ratios. So if Days' Sales in Receivables goes up a significant amount year-over-year, what does that mean? What kind of risks are going to be present in the audit?
Thank you both for your insight. I didn't realize that ratios were tested on both FAR and BEC (although I probably could have assumed they would be tested on FAR).
II'll probably spend some time on them if I'll have to for the other exams anyway. I don't think it will take too long and it's good to know that ultimately it wouldn't be a waste of time.
AUD in the morning. Fingers crossed I managed to get enough studying in even though it's busy season and I've been working like crazy. Here's hoping I get lots of questions that my auditing background gets me through!!
I have been doing really good on my MCQ which has never occured with any of my testing... does this mean I finally get audit? Those of you using Wiley, are you also experiencing this? I don;t want to get overconfident.... but could it be I am finally learning how to read the questions right?! I've always thought audit was tricky.
Just got done with Audit -
MCs werent so bad at all.
SIMs were what I expected
I dont know if I pass or not but I feel relief - I just hope all this studying for 7 weeks paid off.
What should I do? wait for AUD score around FEB 25 or start FAR first week of FEB
This topic has been closed to new replies.