CPAnet Forum: Memorizing Reports

Active Topics

Memberlist

Help

AUD STUDY GROUP
CPAnet Forum : AUD STUDY GROUP

Topic: Memorizing Reports (

Topic Closed)

Author

Message

<< Prev Topic | Next Topic >>

CPA N2009
Major Contributor

Joined: 10 Jul 2009
Location: United States
Online Status: Offline
Posts: 299

Posted: 06 Aug 2009 at 11:12 \| IP Logged

Surely someone who has taken the test can tell us if we have to memorize the repors without telling us questions on the test. Just saying yes or no to memorizing isn't violating a rule is it?

__________________
REG - July 09 - 95
BEC - Aug 09 - 81
FAR - Oct 09 - 84
AUD - Nov 09

Gotta Keep Movin' On

muchawaitedCPA
Contributor

Joined: 21 Jul 2009
Location: United States
Online Status: Offline
Posts: 88

Posted: 06 Aug 2009 at 12:57 \| IP Logged

Yes, you most definitely have to memorize verbatim 3
reports; the standard unqualified report, the standard
compilation report and the standard review report. Don't
go what the h... at me, I will explain why this is
important.

Even though I have never taken this exam I know why it is
necessary to memorize them just from doing the passmaster
questions in Becker. Most of the questions directly or
indirectly ask you what is contained in a particular type
of report, so if you know the exact words of the standard
form of the report, then being familiar with the
modifications will help you score a near 100% on
questions related to reports. And who knows, if your
communication tab is to write one of these reports
"Bingo", there are your 5 points.

I have also made an excel sheet which tells me what the
type of report is and what changes are made to into,
scope and opinion para for each type and if we need to
add an explanatory para before or after the opinion para.

There is a simple rule I follow, told by my friend, in
the unqualified report when we make the modification
(Modified Unqualified); since its "un" qualified the
explanatory paragraph comes "un"der the opinion
paragraph. All other reports the explanatory paragraph
can come before the opinion paragraph.

Since I have not taken and passed the exam i don't want
to post that excel sheet as it would be like "you did not
even take the exam, what are you doing posting stuff", so
i will just wait to finish audit and then post that
sheet, its very helpful believe me.

Doing the memorization if the reports has made me score
70-85% on my 1st try of the questions. I know the 2nd
time around is going to be better.

__________________
Georgia
Becker

REG- 4/16/09- 72 ; 11/28/09- 84
BEC- 5/22/09- 77
FAR- 7/20/09- 85
AUD- 8/27/09- 88

Search for other posts by muchawaitedCPA

CPA N2009
Major Contributor

Joined: 10 Jul 2009
Location: United States
Online Status: Offline
Posts: 299

Posted: 06 Aug 2009 at 13:08 \| IP Logged

Thankyou muchawaited CPA for an excillant post! Though you may not have taken the test - you have done the Becker questions and have a good reasoning for saying memorize the reports.

I don't start studing for AUD until Oct - hope you can post your spreadsheet by then. It sounds like a great asset to study with.

Best of luck on your test.

__________________
REG - July 09 - 95
BEC - Aug 09 - 81
FAR - Oct 09 - 84
AUD - Nov 09

Gotta Keep Movin' On

muchawaitedCPA
Contributor

Joined: 21 Jul 2009
Location: United States
Online Status: Offline
Posts: 88

Posted: 06 Aug 2009 at 13:20 \| IP Logged

Thank you CPA N2009, yes just type and print the reports
and paste at your work desk and keep looking at it. Its not
a hard task at all. If you look at it, the standard unqualified report has just 9 sentences; compilation report
has 3 sentences and the standard review report has 6
sentences, thats not hard at all.

I will surely post that excel sheet if it helps someone I
am more than happy to. I am still adding on to it as and
when I see a new report, so will do it soon.

__________________
Georgia
Becker

REG- 4/16/09- 72 ; 11/28/09- 84
BEC- 5/22/09- 77
FAR- 7/20/09- 85
AUD- 8/27/09- 88

CPA N2009
Major Contributor

Joined: 10 Jul 2009
Location: United States
Online Status: Offline
Posts: 299

Posted: 06 Aug 2009 at 13:25 \| IP Logged

muchawaitedCPA wrote:

Thank you CPA N2009, yes just type and print the reports
and paste at your work desk and keep looking at it. Its not
a hard task at all. If you look at it, the standard unqualified report has just 9 sentences; compilation report
has 3 sentences and the standard review report has 6
sentences, thats not hard at all.

I will surely post that excel sheet if it helps someone I
am more than happy to. I am still adding on to it as and
when I see a new report, so will do it soon.

Sounds great! I "lurk" in the other sections to get a heads-up before I start studing - easier now to keep up instead of waiting until October to start reading AUD and catching up. When something good comes along - I go ahead and print it so I can have it when I do start my study. I difantely want your post for the future. Thanks for being willing to share.

__________________
REG - July 09 - 95
BEC - Aug 09 - 81
FAR - Oct 09 - 84
AUD - Nov 09

Gotta Keep Movin' On

<< Prev Page of 11 Next >>

Printable version

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum