| Author |
|
CPA1979
Regular
Joined: 02 Aug 2010
Location: United States
Online Status: Offline
Posts: 210
|
| Posted: 27 Jul 2011 at 22:26 | IP Logged
|
|
|
Ah. No these were just adjusting J/E.
Good luck!!!
__________________
FAR 11/10 80!!
AUD 10/11 93!!
BEC 01/12 77!!
REG 11/11 79!!
Ethics 3/12 93!!
CPA in IL
|
| Back to Top |
|
| |
koklu
Newbie
Joined: 08 Apr 2011
Online Status: Offline
Posts: 15
|
| Posted: 01 Aug 2011 at 19:33 | IP Logged
|
|
|
cpa1979,
Hi, how did u study for these Adjusting JE. What topic of FAR covers the JE's. I have to yet study for FAR but have the books and could study for the JE from there before I appear for AUD.
Also I suck at Sims, any tips? How did u prepare for Bank reconciliations?
__________________
Just do it !
|
| Back to Top |
|
| |
killaking
Major Contributor
Joined: 29 Aug 2009
Location: United States
Online Status: Offline
Posts: 325
|
| Posted: 02 Aug 2011 at 01:02 | IP Logged
|
|
|
Man I took it today first testlet was way harder than last
time and the 2nd was medium and the 3rd testlet seemed easy
and sims weren't that bad I think I failed smh and those of
you that think you got the same question read the repeated
one carefully.
__________________
FAR: 7/17/10 missed exam FML reschedule 8/29/10-77 EPIC!
REG: 5/31/11-73 SMH, 8/31/11-85
BEC: 4/15/10-72 : retake 10/3/10-80
AUD: 11/28/10-74, 02/27/11-71 FML, 8/1/11-80
Texas board
|
| Back to Top |
|
| |
CPA1979
Regular
Joined: 02 Aug 2010
Location: United States
Online Status: Offline
Posts: 210
|
| Posted: 02 Aug 2011 at 13:11 | IP Logged
|
|
|
koklu,
Please don't take what I'm about to say the wrong way. But to me if someone reached the level of sitting for the CPA exam and cannot figure out the whole J/E thing than I just don't think he/she are ready to be in accounting.
I don't mean to sound harsh, but to me J/E should be based on your knowledge of the relationship between the Income Stmt & Bal sheet accounts, which is basic accounting before even intermediate accounting.
I also have real world experience with J/E. I guess if I didn't know anything about J/E I would study adjusting entries from the FAR section. I recall in studying for FAR there was a section that discussed these entries. Because we are talking about Auditing they can be never anything, but adjusting entries.
My own personal process for figuring out J/E is thinking what is the situation I'm looking at and what I'm trying to get to. If you're adjusting inventory, acct receivable or acct payable just see what the question is saying. Are A/R overstated and need to be lowered and you know that A/R is an asset so to lower it you must credit the A/R, which leaves you the other leg of the entry to figure, but at least this way you earned some points because each account is in a separate cell on the TBS.
The other thing about TBS I learned from failing the first time taking FAR is you must finish everything even if you guess. Don't leave anything blank. Nothing blank. You don't get points deducted for answering wrong.
Again, I don't mean to come off like as d*^% that is just my opinion and for all I know I could have failed. Good luck!!!
__________________
FAR 11/10 80!!
AUD 10/11 93!!
BEC 01/12 77!!
REG 11/11 79!!
Ethics 3/12 93!!
CPA in IL
|
| Back to Top |
|
| |
CPA1979
Regular
Joined: 02 Aug 2010
Location: United States
Online Status: Offline
Posts: 210
|
| Posted: 02 Aug 2011 at 13:19 | IP Logged
|
|
|
One last thing about TBS's. A friend of mine who just got done with all 4 parts mentioned to me that cpaexcel's TBS's are the closest to the real exam. I saw a sample and it was True/False and there was a True/False one on the real exam.
__________________
FAR 11/10 80!!
AUD 10/11 93!!
BEC 01/12 77!!
REG 11/11 79!!
Ethics 3/12 93!!
CPA in IL
|
| Back to Top |
|
| |
Active Topics 
Memberlist 
Search 
Help
Register 
Login
Topic: Took Audit today
Topic Closed)
