Mr.300 wrote: I TOOK AUDIT TWICE..72 IN JULY AND 74 IN OCTOBER..I USED BECKER 2008..I AM CONSIDERING BUYING GLEIM FOR SIMULATION.. I AM A TAX GUY @ A BIG 4 AND I DONT KNOW HOW TO TICKMARK AND DO RECONICILATIONS. CAN ANY ONE GIVE ME FEEDBACK ON GLEIM, WILEY? ETC

I am sitting for the exam tomorrow, but I thought I would throw in my 2 cents anyway.  From Yaeger CPA Review, they said you don't have to memorize tickmarks, but rather need to know (or be able to figure out) what should be happening to the numbers you are tickmarking.  For example, BOY numbers would be tied to prior year General Ledger; interest payments/accruals would be recomputed by the auditor; EOY numbers would be tied to current year G/L and Financial Statements; you may have information on confirmations and the problem tells you that some banks agree without exception and some say the number is wrong and both of those "confirm, without exception" and "confirm, with exception" might be options; etc.

I'm not sure exactly what you mean about reconciliations.

Also, when you say you are taking Becker, are you going to the classes?  You are right on the edge on passing, maybe a different way of presenting the information would be helpful to you.  I just went to the Yaeger CPA Review website to purchase their 7-hour audit Cram session because I've heard it is good and I hope it will help bring all the information together for me, but I haven't received the link yet and I'm taking it tomorrow - hopefully they will send it quickly.  I'll let you know after I've done it how helpful it was.

Mr.300 wrote: I TOOK AUDIT TWICE..72 IN JULY AND 74 IN OCTOBER..I USED BECKER 2008..I AM CONSIDERING BUYING GLEIM FOR SIMULATION.. I AM A TAX GUY @ A BIG 4 AND I DONT KNOW HOW TO TICKMARK AND DO RECONICILATIONS. CAN ANY ONE GIVE ME FEEDBACK ON GLEIM, WILEY? ETC

Mr.3000 I never used Gleim simulations (just their MCQ's) and they had a few tick mark questions that were helpful, however, tick marks doesn't seem to be a hot topic on the actual exams so that's probably why you aren't finding a lot of information in the Becker book on it.  By reconciliations do you mean bank transfer files that compare the back stmt. to the ledger balance?  If so, just always think of it like your bank account..........the day you deposit your money is not necessarily the day the funds are processed through the bank which cause reconciling items on your ledger.  That's probably the most high level explanation I can give.  Good luck on your next attempt.........YOU ARE SO CLOSE!!!!!

Hmm..for recon..my guess is they're testing you to see if you can detect kitting...CD and CR from different account and different dates close to the EOY...detecting kitting or bank recon is not that hard. You should follow an example and read the explanation carefully.