careermindedmom
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Joined: 10 Feb 2010
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Posts: 115
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| Posted: 09 Mar 2010 at 21:46 | IP Logged
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Stuff like asset turnover ratio, quick ratio, acid test, etc is coming up quite
a bit (I'm using Becker). In my FAR test I didn't have many journal entries,
but I did have questions about the ratios.
Well I take that back, I have had a few questions studying in AUD related
to journal entries that go like:
"What would be a reasonable explanation for a significant debit to
accumulated depreciation just prior to year end?"
And questions in FAR were similar (I.e., asking what the appropriate
journal entry to record depreciation expense would be or how to correct
an error)
So you need to make sure you know your basic journal entries in both
FAR & AUD. The main difference in FAR is that the objective is to record
the entry or correct an error, in AUD you're looking for explanations for
the journal entry.
__________________
FAR - 78 PASSED!
AUD - 84 PASSED!
REG - 78 PASSED!
BEC - 77 PASSED!
DONE!
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Topic: AUD before FAR. Is it possible?
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