AUD Study Group January/February 2013

CPA Exam Forum The Forum AUD Review AUD Study Group January/February 2013

This topic contains 482 replies, has 118 voices, and was last updated by  Journey to Fate 3 years, 5 months ago.

Viewing 30 posts - 181 through 210 (of 483 total)
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  • #398981

    Lost.n.lost
    Member

    I’m using the 2012..it’s about sampling..r u looking at the A5 sim?

    #398982

    foreseeableCPA
    Participant

    6th sim in A5? For me that is a research one.

    #398983

    AnnaMay84
    Member

    There is a table on A5 pg20 (becker 2011) that shows an example of of the pps, i cannot interpret the info. It shows three columns titled “customer account” “book value” and “cumulative total.” I know how they got the cum. Total but the asterisks and the note by it do not make sense to me

    #398984

    foreseeableCPA
    Participant

    The sampling interval is $5000 and the random number to start from was $300. This sampling method chooses an account with an interval of $5000. Since the first balance was $150 but the START number was $300, the next account will be chosen. Then you would add 5000 to 300, becoming 5300 and then search for the closest cumulative balance to 5300. From the looks of it, the book value has no other purpose other than to add it to the previous balance. As you can see, this method does not really care what a specified customer’s account balance really is, rather it chooses a balance according to the cumulative total.

    #398985

    teffeke
    Member

    I have been in assurance in public accounting for four years (2 yrs at the big 4 and 2 yrs at a regional firm) and I am studying for audit. I am using Becker. For others who have a lot of audit experience and took audit, did you study chapter 4 in Becker? I have thoroughly covered 1, 2 and 3… read 5 and 6… but I feel like doing much with 4 is overkill. Thoughts?

    #398986

    Lost.n.lost
    Member

    @foreseeablecpa.

    Umm…the main question I wanna know is if rounding is necessary…I put in the formula and it spit out a number like..”128.3567589″ …the Becker answer was 129…so u think if I leave it as is, “128.357799” on the exam….do u think they will mark it wrong?

    #398987

    23K
    Participant

    @MCLKT

    Where have you been and how is studying?

    Well – back to studying hardcore – the holidays did’nt help – slacked so much 🙁

    On A5 – MC’s questions – hope to get HW done by Friday night

    #398988

    foreseeableCPA
    Participant

    @lost

    I do not think it will mark it wrong. My best guess is that they have a range of acceptable answers. For example, on REG, there are a lot of calculations and it would be nearly impossible for candidates to pass if they had to get the answer spot on.

    #398989

    Everyone can cut the time at A1-A6 if he has some public accounting experience. I think for the AUD section it’s very important to have some practice knowledge of auditing, not just the theory.

    #398990

    StudyCentral
    Member

    Hi all, I am a long time visitor of this site but this is my first time posting.

    Lots of questions on here about study material and techniques so I thought I would share my methods.

    I have been using becker self study and it has served me well (Reg 94, BEC 85, both first try). Before I start the lectures on each chapter I read the chapter completely. I then watch the lecture and take notes, after each lecture I immediately start the multiple choice questions pertaining to that lecture.Once I complete a chapter I return to the beginning and review the key points. I have found this helps me understand things I may have missed the first or second time through, and obviously the repetition is very helpful.

    Hope this helps, GOOD LUCK ALL AND HAPPY STUDYING!

    #398991

    lyzgrace
    Member

    AUD retake here… got burned with a 73 in November and now I’m scrambling to take it again on Monday before my FAR NTS runs out and I have to take that one the end of January!!

    I see a lot of people use Becker. I couldn’t shell out the cash for that so I’m using Kaplan. Any Kaplan Schweser success stories?

    #398992

    k917
    Participant

    Just took my FAR retake this morning (got the dreaded 74 in November – hoping I at least got that 75 this time).

    AUD scheduled for 1/26.The plan is to just do a ton of MCs and NINJA Audio over the next 3 weeks!

    #398993

    hwtCPAexam
    Member

    Anybody using cpareviewforfree.com as a supplement to your primary review course? I just purchased the simulations for audit and I’m already noticing that some of the material is inconsistent with what is given in CPA Excel. I trust CPA Excel’s product because it’s all I’ve used to study on the previous three exams. I just thought that it would be nice to supplement on the simulations since I never feel good about the simulations on test day.

    #398994

    teffeke
    Member

    I took audit 2 years ago using Becker and the book only had 5 chapters. Those 5 chapters are the same first 5 chapters in the new Becker book for Audit. However, a chapter 6 has been added. Anyone have any input on how hard I should look at chapter 6? I’m thinking that the only thing in there I really need to know is Gov’t auditing. Thoughts?

    I know the last chapter in becker books is often the least important. I didn’t even read F10 before I went in to take the test and felt it didn’t hurt me in the least.

    #398995

    chubbs757
    Member

    @hwtcpaexam I use cpareviewforfree.com (free questions) as additional practice to Becker. I didn’t use it for Reg (which I failed) but did for BEC (which I passed). I give most credit to Becker for preparing me but DID see questions on the exam that were right off cpareviewforfree. I also work with people who used cpareview as additional practice for their AUD exam and said they saw identical questions on their actual exams (which they passed). They took AUD in late 2012.

    Good luck!

    #398996

    Lost.n.lost
    Member

    Well I see some exact question from cpareviewfree on Becker in AUD

    #398997

    chubbs757
    Member

    @lost.n.lost That is true too! Some questions parallel.

    #398998

    Hi, all!

    I’m new to the site, and am starting to study to retake AUD. Haven’t scheduled the date yet, but I got a 73 using Becker self-study only. I just bought the 10 point combo, but have a question. Is it really necessary to review all of the Becker lectures again?? That’s 24 hrs of study time, and if I take notes, much more.

    Anyone else studying to retake and going through all the lectures again, or just notes, MCQ, and flashcards?

    Thanks.

    #398999

    I should note the 73 was from my 11/18/12 exam. 🙂 So close!

    #399000

    foreseeableCPA
    Participant

    @motivated2pass

    Some say its not worth watching the lectures over again. But I believe that reviewing the material completely from scratch will guarantee you a passing score.

    #399001

    Ok, can anybody point me in thr right direction to download the flashcards & audio to my iPhone? The instructions file in the MACOSX folder for the flashcards will not open on my desktop. And it’s in PDF format, which iPhones don’t support?

    Thanks!

    #399002

    k917
    Participant

    @motivated2pass iPhone doesn’t support PDF? That just put me even further into the never going to buy an iPhone category. I had to use my DROID to pull up my NTS yesterday for my FAR retake – thank goodness DROID does PDF!

    Sorry to get off topic – I was just really surprised.

    #399003

    lyzgrace
    Member

    @motivated2pass: You can definitely view PDFs on the iPhone. When I downloaded the flashcards onto my MacBook they were in a zipped folder that contained only one PDF, which was just a coupon code. The actual flashcards were in an .xml format, which you need to download software to view. Instructions are in the .doc file that are also in the zipped folder.

    #399004

    MCLKT
    Participant

    Hey 23k!!!

    I went to Hawaii for Christmas (10 days), and to say I got off track is an understatement. I pushed my test back to the 15th to give myself one more weekend to really cram.

    Studying is going well. I’m scoring 75ish on practice exams (Wiley test bank). But I would like that to be at least 85 before I go in.

    Right now I’m randomly rewriting chapters of my notes (weak areas) then testing on that info and writing out incorrect answers. Every other day I am taking a full practice exam to assess my weaknesses. Now I think I will do some focus sessions of MCQ on my weak areas only.

    I wasn’t on this thread for a bit because it felt like soooo much reading to get caught up on the discussion, lol.

    How are you doing? Where are you at in studying?

    #399005

    Hello Audit Peeps! I am starting to read my Roger book today. Test Feb 23. Kind of excited NOT to be studying BEC right now haha should be a nice break. Good luck to you all. I know most of you are testing soon. Just wanted to join the Audit party 🙂

    #399006

    23K
    Participant

    Well – I went through all the HW problems once in Becker A1-A6

    Scored from 60% to 75%

    Did Sims for A1-A3 – Still have 3 more section to go – SIMS are killing me 🙁

    I’m going to do progression test and just do NON-STOP MC’s and SIMS

    Have about three weeks to review and focus on week points

    #399007

    23K
    Participant

    I’m having so much problems with Audit Evidence ….. BOOOOOOOO

    #399008

    MCLKT
    Participant

    My practice exams are showing weakness in Reporting and Acct. Review Services. And doing well in the others. I’m nervous because these two sections are tested highly and I scored weaker in them when I sat back in Aug. I’m obviously not comprehending something correctly.

    1 week until test day. I’m starting to get VERY anxious.

    #399009

    Someday_I_will
    Participant

    For those who used Becker for AUD, what chapter needs more attention?

    And also, I am thinking what section to take next but it would be good to know what section of the exam will be changed this year. Anyone knows?

    Thanks!

    #399010

    Jsmi77y
    Member

    Anyone have advice for nailing down the topics involving confirmations vs cutoffs and what they are generally used for/to detect?

    I seem to have a lot of trouble regarding questions involving specific audit procedures and detecting anything with cutoffs and confirmations. Questions that involve bank statement verification etc.

    And fwiw I’ve gone over the audit procedure chapters in Roger’s books more than a lot.

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