[Anonymous]

Just curious as to what other people sitting for AUD are reviewing/have reviewed as far as journal entries? I know they will be pretty simple, compared to FAR, and when I took AUD three years ago, I only reviewed AJE’s and did well. But, I can’t afford to fail so I’m wondering what other people are reviewing! 🙂

[thechapman]

https://www.principlesofaccounting.com/illustrative%20entries/entrieslist.htm

I used that as a summary just to make sure I could record any “basic” entry thrown at me.

Passed - 2014

[Anonymous]

That's a good summary- thanks for sharing. I really hope that they wouldn't be asking for journal entries related to recording bonds at a discount, purchase of AFS securities with the OCI entry, etc. That seems pretty complicated for AUD

[zieba]

Not really. They can ask about…oh, I don't know derivatives from outer space… but it's still basic journal entry accounting. I mean, yes, if they asked about that it would confuse you because you'd see things you don't know in the instructions and panic. But, at its core… they will essentially ask you to a) record stuff b) disburse stuff c) maybe reverse stuff d) expend a portion of stuff e) maybe move stuff to where it belongs… irrespective of the subject matter.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[thechapman]

I definitely think that's more than adequate. I didn't go crazy on JEs before I took it less than a couple weeks ago, and I'm definitely glad I didn't spend a ton of time on them.

Passed - 2014

[Anonymous]

Mmm I don't think that some of those journal entries are basic journal entry accounting. There's a reason why people struggle with them on FAR. I would expect fairly basic entries and adjusting entries but I really can't imagine they would be asking about securities, bonds, etc which are notoriously the tough subjects in FAR.

[Kimboroni]

For AUD, I studied what I read here someone calling “kindergarten accounting” and it worked out okay. I do remember getting a question on something I didn't go over, and I think I attempted to reason out an answer, rolled my eyes, randomly picked an answer, and moved on. I hadn't taken financial accounting for a couple of years. But you have recently passed FAR, so I think you'll be in good shape.

Awesome prep, Amanda. You're not leaving anything to chance!

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[Anonymous]

From the link posted above for the JE's, are the below two supposed to have the same JE or is it a broken link? I was thinking the example was the JE for issue par value common stock and there was a different JE for issue stated value common stock, however I am not sure based on the rest of the links working correctly:

ISSUE PAR VALUE COMMON STOCK

https://www.principlesofaccounting.com/illustrative%20entries/illustrative%20entry%20for%20issuance%20of%20par%20value%20stock.htm

ISSUE STATED VALUE COMMON STOCK

https://www.principlesofaccounting.com/illustrative%20entries/illustrative%20entry%20for%20issuance%20of%20par%20value%20stock.htm

JE from the website:

XX-XX-X9 Cash

15,000,000

Common Stock 3,000,000

Paid in Capital in Excess of Par 12,000,000

To record issuance of 3,000,000 shares of $1 par value common stock at $5 per share

[Author]

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