AUD – Basic Journal Entries

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  • #1436108
    mperez102204
    Participant

    Hey All,

    I am going to be retaking AUD soon and I have been doing a bit or research on questions that may or may not be seen for simulations. Basically a high level view of the past year or two. Now, I do not want to fail this test again, so I am going big or going home..

    Is there any basic journal entries I should know?? I could only think of accruals, which means I am missing something..

    Any ideas would be appreciated. Thank you!

    I honestly hate the number 67..... officially the worst number ever. Ugh, but 73 feels so much worse.

     

    AUD - Ā 67 ; 73 - retake August.

    BEC - 69

    FAR - 63, 67, RetakeĀ TBD

    REG - Ā eventually šŸ™‚

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  • #1436115
    mckan514w
    Participant

    I would say any entry / category where it would be probable for an auditor to find a material misstatement- such as payable and receivables, inventory, securities / investments. Basically know how things should be recorded initially, when there are inflows and outflows and what adjustments would need to be made. For example you discover that 100,000 of inventory was never recorded- or payroll was overstated by 100,000 –

    And they ask me why I drink

    BEC 71, 82
    AUD 75
    REG 75
    FAR 61, 69, 83

    and they ask me why I drink...

    FAR- 61-next time I'll ask for lube instead of a calculator
    REG-75- Never been so happy to see such a low grade
    BEC- 8/11
    AUD- 9/2

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