Worst Becker Explanation Ever

  • Creator
    Topic
  • #186651
    Anonymous
    Inactive

    Becker Question –

    “The reporting standard under GAGAS augment the standards associated with reports on audited financial statements in several ways including a requirement that the auditor specifically mention adherence to GAGAS. These standards do not, however, change or modify GAAS reporting responsibilities.”

    So they’re saying that it augments the reporting standards but doesn’t change the reporting? WTF!

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • #578776
    Myredstapler
    Participant

    GAGAS and GAAS are not the same.

    #578777

    GAGAS is GAAS + more.

    GAGAS is more strict than GAAS.

    #578778

    I was annoyed by this question too, mostly because of how they worded it. Saying “modified” the responsibilities means they're different and since there's more, that should imply modification.

    On the other hand, it's not as bad as the Becker questions that are legitimately not even found in the book, yet they'll take you to a page in the Ebook for the explanation that has nothing to do with the question.

    AUD - 08/04/14 - 83
    FAR - 11/29/14 - 80
    REG - 02/26/15 - 89
    BEC - 05/30/15 - 86

    DONE!

    #578779
    Anonymous
    Inactive

    My personal favorite in Becker is in FAR, when they don't tell you how to calculate bonuses, Tim Gearty just tells you to plug the answers they've given you and figure out what works. Calculating bonuses isn't even hard lol.

Viewing 4 replies - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.