iPass
offlineMember
Honestly, I would not stress about them too much unless you don't have at least a basic understanding of this topic. Just make sure you go through all the MC questions and you'll definitely get a better understanding.
Yvonne570
offlineMember
Audit cycles are very important. It's important to understand the risks and testing involved in all areas. Get to know the relevant assertions that would affect each cycle at the minimum. Review why these assertions are important, which may help you understand and hopefully feel comfortable in this area.
atelery
offlineMember
@jenuno01,
work on this A4 multiple times, you will eventually get it. I can tell you that the first time I was doing those 121 questions I got below 50%, then I just kinda memorized the questions and the answers hoping that the actual CPA exam questions will be word for word of Becker. Obviously that didn't work as I failed on my first time.
This time I was hoping to really nail the topic, and surprisely, I got most of the questions right, around 70 - 75%, not too great but better than my first round of below a 50%. I went through A4 one time and hoping to spend the entire Sunday to work on A4, good luck to you :)
jenuno01
offlineMember
@atelery thanks for your help! I did eventually get it last night (I stayed up until 2am!) ... what finally helped me get it was knowing the documents involved in each cycles and realizing that tracing and vouching can start at any point in the process(not just source to GL and viceversa)
For example, I ended up writing down the docs for the Sales cycle in order: Sales Order, BOL, Invoice.. then I would analyze the question based on what the auditor was trying to accomplish... I found that Becker had many mistakes in calling something vouching or tracing... so again, I just focused on what the auditor was trying to accomplish, and on my second try I scored 95% woohoo
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