CPA Exam Reviews: Getting ready to sit for the CPA Exam means that you need to know the CPA Exam Schedule (and set your test date) and then use a variety of study materials to prepare to pass the exam.
Depending on your learning style, you might select certain of these study tools: * CPA Exam Sample Questions * CPA Exam Forum and Student Discussion Groups * Private Study Groups * CPA Exam sample and CPA Exam Simulations * CPA Exam Review books, including Electronic and printed study texts * Professor Mentoring * Professors’ video lectures and printable slides * Diagnostic Exams * Proficiency Questions * Digital CPA Flash Cards * Performance Metrics * Exam Tutor, and * Final Review. There are a number of providers for CPA Exam Reviews.
CPAexcel recruits top university accounting professors to mentor and author their study materials while other companies simply hire grad students who hit “Play” on a Power Point presentation or a canned video lecture. CPAexcel publishes new textbooks twice a year while another course updates their books only once each year, which means those students are possibly paying for textbooks which are not current enough for the exam. CPAexcel’s books are always current!
How to Handle Written Communications in AUD The American Institute of Certified Public Accountants (AICPA) structures the Uniform Certified Public Accountants Exam (CPA Exam) so that it tests a broad range of your knowledge. One way to do this is to change the manner in which the questions are presented.
In addition to multiple choice questions and simulations, the Auditing and Attestation (AUD) section of the exam has written communications.
Written Communications Many moons ago, this was called the “Essay” section of the CPA Exam. Writing well gets you more points than does content in this section.
What not to use: * Bullet points * Jargon * Abbreviations * Lists. What to use: * Full sentences. * Pretend that you are explaining the general issue to a client or a friend who may not have your accounting expertise. * Talk to the audience, NOT down to the audience. * Clearly define any terms you will use at the beginning of your memo. Explain clearly what “substantive tests” and “attribute sampling” mean and then use them in the memo.
Caution: * Do not worry what you will be asked. Focus on your writing skills because that is what is being tested-not your mastery of the content. Focus your answer on what is relevant to addressing the requirements of the question.
Remember: 10% of your AUD score is based on your ability to write well and stay on topic. Lists are a very small part of the AUD exam so don’t waste time memorizing mnemonics for primary auditing terms because you probably will not use them.
CPA Exam Auditing Simulation The American Institute of Certified Public Accountants (AICPA) structures the Uniform Certified Public Accountants Exam (CPA Exam) so that it tests a broad range of your knowledge. One way to do this is to change the manner in which the questions are presented.
In addition to multiple choice questions and written communications, the Auditing and Attestation (AUD) section of the exam has simulations.
Audit Simulations
By practicing with the sample simulations in CPAexcel, you can become familiar and comfortable with how a simulation works. There is also an AICPA sample exam at www.cpa-exam.org. It is essential that you practice if you wish to pass.
Learning to search and locate the information you need in the table of contents is a skill you need to develop. Read the company profile information and study the financial information given in the problem. Base your answer on the information they give you, not on anything else.
At most of the work tabs in the AUD simulation, there are answer choices. You do not have to think up an answer on your own.
Pick the best one listed.
1. Take your time. Consider the company’s environment.
2. Open each work tab to see what the authors want you to do.
3. Read the content at the information tabs. 4. This should save you some time because now you know what you are seeking in the company information.
5. Click on the “Resources” tab. This may have information which could help you solve the questions at the work tabs.
With the massive changes to 2011 CPA Examlooming, it is more important than ever that you pass the first time. Over 87% of CPA Exam students pass the CPA Exam-that is nearly twice the national average!
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