Posts tagged: CPA AUD

72 Hours Only – Flash Sale on 2013 CPA Auditing Review Systems for Q1-Q2

April 30, 2013, by No comments yet

 

Customers will receive immediate online access, so CPA applicants will be able to commence studying right away.”

 

For 72 hours only, Gleim, the leading provider of CPA review materials, is holding a flash sale for the Q1-Q2 edition of our 2013 CPA Auditing Review System!

 

This sale will run from May 1, 2013, through 11:59 p.m. (EST) on May 3, 2013. CPA candidates sitting before July 1, 2013, can take
advantage of our limited-time 33% discount. The total cost of the 2013 Q1-Q2 CPA Auditing Review System during the flash sale will be $184.22*.  Save now!

 

Gleim is holding this sale for our 2013 Q1-Q2 CPA Auditing Review System (which includes a book, Test Prep Online, Audio Review, Gleim Online, Practice
Exam, Simulation Wizard, and access to a Personal Counselor) in order to encourage CPA hopefuls to take the Auditing exam before the new Clarification Standards become testable.

 

Customers will receive immediate online access, so CPA applicants will be able to commence studying right away.

 

If you’re sitting for the exam on or after July 1, 2013, you’ll need to prepare with the Q3-Q4 edition of our CPA Auditing Review System (not
available at the flash sale price).

 

Questions or concerns? Want to talk about Auditing? Contact us today at accountingteam@gleim.com or 800.874.5346.

 

Happy studying!

 

Team Gleim

 

*Discount on 2013 Q1-Q2 Gleim CPA Auditing Review Systems does not apply to previous purchases, or the price of the full review system (consisting of Auditing, Business, Financial, and Regulation).

 

Only candidates who are sitting before July 1, 2013, should purchase the discounted Auditing review system. The Gleim Replacement Guarantee does
not apply to purchases made during the Q1-Q2 flash sale; candidates may upgrade Q1-Q2 editions of the CPA Auditing Review System purchased during the
flash sale to the Q3-Q4 edition simply by paying the difference between the flash sale and retail price (plus any applicable shipping charges).

 

Deadlines – 4 Months To Prepare For BEC and AUD

April 4, 2013, by No comments yet

 

Written By Guest Blogger Jennifer K. for the Gleim CPA Blog.

I received my study guide and login for Gleim last Friday. I was excited to have a new method of preparing for the BEC exam. I have very little time to prepare because on July 31, 2013, I will lose credit for REG if I have not taken and passed both BEC and AUD. This leaves me a little over 4 months to prepare and pass both BEC and AUD.

I have to admit I am getting a little stressed. Sadly to say, I do have the added pressure of having been in this position before. I am determined to not let my passed sections expire without some serious efforts. I took and passed BEC back in early 2009. However, I started a new job in April of 2009 and my focus shifted to learning my new job responsibilities. Despite the fact that this was necessary, it still stings that I let my initial excitement and effort wane. Now, I look back and feel like I lost 4 years. I am hoping the Gleim CPA Review System will help me finally complete this lifetime goal.

So far, I have only worked through the first study unit of BEC – Corporate Governance. I received a 75% on my first attempt at the multiple-choice questions. I was feeling pretty good, then I answered the True/False study questions. I guess a 60% isn’t the worst I could get, but it sure didn’t instill a whole lot of confidence in my understanding of the material. Luckily, I have since taken several more multiple-choice tests, receiving scores between 75-90%. I am feeling pretty good now and ready to move on to the next study unit. I definitely need to find a way to get through them more quickly if I am going to make my deadline. Of course, I believe a more consistent study schedule will help.

My initial plan is to spend most of this weekend studying. My son will be starting his spring break, and we will have a break from his school/sports schedule. I am looking forward to being able to dig in and spend sequestered time with my new best friend. My plan is to attempt to work through Study Unit 10. This would put me in a good place for scheduling BEC in April. So far, my experience with the Gleim CPA Exam System is very good. I like the way the practice exams are setup. They have an authentic feel to them. I like all of the options that you have in setting up and following your study plan. I am still familiarizing myself with the Gleim System and hope to get an opportunity to use the audio portion of the system over the weekend.

 

Applied For Notice To Schedule – AUD

January 4, 2013, by No comments yet

 Written By Guest Blogger Jaime C.

I applied for my AUD Notice to Schedule this week. I was not sure if I would have to apply all over again with the state or if my application from 2006 was still applicable. Fortunately, the NASBA website is easy to navigate and I did not have to complete a new application. First, I found my Jurisdiction ID using (1) state of application, (2) first name, (3) last name, (4) date of birth, and (5) zip code. Then, I registered for a new user account.

After my user account was established, I logged on and was able to import my prior application. One click of a button transferred all of my data from 2006. When I applied six years ago, I sent in a paper application. Therefore, per the NASBA website, my application had to be imported to my new online user account.

On the home page, all of my previous CPA exams are listed with dates and scores, including the AUD exam passed 9/26/06 with a Lost Credit status.

Finally, I applied for the AUD Notice to Schedule. The Notice to Schedule application has changed since 2006. I had to search the house for my college transcripts in order to complete the survey regarding college credits. Luckily, I have copies of all my college transcripts. A few more questions were answered, I provided my credit card information, and now I wait for the Notice to Schedule to arrive via email.

I sighed in relief when my previous application was imported and my current application to schedule was submitted. Getting this task marked off my “to do list” eased my mind and allowed me to knock out some great studying this week. I worked on more study units for Evidence and began Study Unit 20, Governmental Audits.

 

AUD Studying – Practice Exams and Great Expectations

December 20, 2012, by No comments yet

Written By Guest Blogger Jaime C.

The mums are planted, the squash is cooking in the oven, and my CPA AUD studying continues. I worked on Study Unit 3 this week as well as incorporating Study Units 1, 2, and 19, which I’ve already covered in my practice exams. I started the week with high expectations of studying every evening for two hours. However, my routine still needs some fine tuning. I haven’t found the perfect combination for working late, getting to the gym, tending to household chores, and studying.

A few tweaks here and there will allow ample time for studying during the week. For instance, I started exercising in the morning before work. I keep thinking back to my first blog posting when I discussed discipline and diligent studying. Each evening brings new episodes of my favorite TV shows, but I’ve learned to limit my TV time in order to study. I know that I can watch the shows online at a later date when studying is not my main focus.

I’m always eager to knock out several hours of continuous studying on the weekends. This, too, takes discipline and the ability to turn down afternoon social engagements. These fall months are passing quickly and getting my study routine under control now will only make studying for the BEC, FAR, and REG CPA exam sections that much easier.

My husband is super supportive and knows I need study time. He also doesn’t pester me about studying when I procrastinate. He sees that I am hard on myself if I don’t get enough studying completed during the week. It is great to have encouragement and support during this journey. We haven’t really told anyone that I am studying, yet. I’d prefer to limit the inquiries and comments regarding my studying until I boost my confidence and have most of the AUD material under my belt.

 

My Retake of the CPA Audit Exam

December 20, 2012, by No comments yet

Written By Guest Blogger Kathy R.

Finally, my retake of the CPA Audit exam is complete. I am hoping that I passed.

The day before the exam, I felt confident that I knew the material. I actually stopped studying/reviewing the material around 7:00 p.m. I did my best to go to bed before midnight, but of course my anxiety started to get the best of me and I did not go to bed until 2:00 a.m. My alarm clock went off at 6:00 a.m. After hitting the snooze button a couple of times, I got out of bed, showered, boiled 2 eggs, and made my wheat grass drink. I drove 40 minutes to the testing site to find a long line to check in. I started my exam around 8:00 a.m. For the most part, the exam was consistently paced. The multiple-choice questions were straightforward. Overall I felt the Audit exam was very similar to the Gleim CPA review material. I am definitely hoping, praying, and wishing for a passing score.

During my review process of the Audit material, I finally realized that I was missing questions because I was not reading the question carefully and identifying the key words. My new method for completing the multiple-choice questions is to read the question, then immediately take out the two answers that I feel are incorrect. Then I re-read the question and try to determine the one or two words in the sentence that will help me to answer the question correctly. When I started using the method described above, my scores started improving by approximately 15%. I started studying for the CPA Business exam yesterday, and this new method seems to be working for me.

Stay tuned for the results of my CPA Audit exam and my CPA Business exam. It would be wonderful to have at least one exam passed by the end of the year. Two exams passed would be the most wonderful end of the year present ever.

 

TeamAUD and Feeling Good About My Progress

December 20, 2012, by No comments yet

Written By Guest Blogger Jaime C.

This week I felt great tackling the Audit material. I studied a few nights during the week and focused on the current study unit, rather than the fact that I have the whole book to learn. Focusing on one study unit at a time helps take the anxiety out of the massive amount of material yet to cover. I also jumped to Study Unit 19 to change things up a bit. My professors in college never taught classes by going through chapters in consecutive order, so it couldn’t hurt. For the most part, I plan to study the study units in consecutive order. However, variety is the spice of life, and if mixing things up can keep me motivated and interested, than it is worth it.

During the week I took numerous 15- and 20-question practice exams, incorporating Study Units 1, 2, and 19. This amount of questions is manageable and keeps my attention. I read a recent blog posting from Danielle C. where she wrote, “When studying from the book and answering questions, I read the entire answer paragraph, even if I got the question right and feel that I understood it.” I realized that I do the same thing and would encourage others to study in a similar fashion. The repetition is great, as well as the opportunity to pick up information as the incorrect answers are explained.

In junior high, our English teacher would give us a spelling test each week. In order to prepare for the weekly exams, we would copy each word 20+ times. I find this method helps now as I study for the Audit exam. The repetition is great but it also gives me something to visually recall while taking the practice exams and ultimately the final exam. For instance, I recall how the auditing standards looked on the page as I wrote them over and over. This isn’t something I do for all topics, but I find it very helpful when there are lists or categories to remember.

I look forward to a victorious week of focusing on another Study Unit. Happy studying!

 

Beginning AUD – First Time With The CBT-e Exam

November 12, 2012, by No comments yet

 

Written By Guest Blogger Jaime C.

I ordered the Gleim Audit study materials last Monday anticipating another week of freedom before my studying would begin. The materials arrived Wednesday! I cracked open the book, read most of the first study unit, set up my online access and downloaded the software to my laptop.

The first time I took Audit (and passed) in 2006, I had just graduated from college and was very familiar with all the relationships between GAAS, ASB, FASB, SASs, etc. Now, a good portion of the first study unit seemed completely foreign. However, I am confident that other sections of the material will be easier to understand now that I have been on both sides of an audit, as the auditor and as the client. Taking the exam right out of college has its advantages, but since I can’t turn back the clock, I am expecting my work experience to complement the reading material to make this a successful CPA exam section.

Monday will be my official start to tackling Audit on a full-time basis. Since football season is in full swing, I can knock out some great studying on the weekends while my husband is watching all of the games and monitoring his fantasy teams. I grew up going to high school and college football games, but didn’t learn what a first and ten was until I was a sophomore in college. The sounds of the games filling our house on Saturdays and Sundays will be the background noise to my studying. I’m hoping it is just like the light music and conversation in a coffee shop (my favorite place to study) only cheaper and easier on the calories!

Speaking of watching calories, I plan to continue my commitment to fitness, rather than succumb to unhealthy comfort foods while studying. Fine tuning a balance between a full-time job, exercise, studying, and household chores will be another key to my success. I’ll keep you posted on my progress during this football season. I sure do like all the pink the players are sporting for Breast Cancer Awareness Month!

 

The Clarity Standards Impact Content Tested on the Auditing and Attestation Section (AUD) of the CPA Exam in 2013

November 6, 2012, by No comments yet

 

Quote startThe Gleim CPA Review System Includes
18-months Of Product Updates So You Have
The Most Up-to-Date Materials!Quote end

The Auditing and Attestation section of the CPA exam will undergo major changes in the content tested beginning in the third quarter of 2013. The Auditing Standards Board’s (ASB) clarified auditing standards are effective for periods beginning after December 15, 2012. Thus, the clarified standards are eligible to be tested on the 2013 CPA Exam beginning in July, which is the third window of 2013 testing.

According to Dr. Bill Hillison, Professor Emeritus of Accounting at Florida State University and co-author of Gleim CPA Review Auditing materials, “The AICPA’s Auditing Standards Board redrafted its standards into a new Codification of Statements on Auditing Standards to make U.S. Generally Accepted Auditing Standards (GAAS) easier to read, understand, and apply. A goal of the ASB was to converge the standards with the International Standards of Auditing (ISA) and to eliminate the duplication that existed in the current standards.”

The scope of these changes is leaving CPA candidates wondering where to begin in understanding the differences between the old and new standards. Reed Daines, a recent graduate from the Fisher School of Accounting at the University of Florida who is currently studying for the CPA exam, states, “I’m taking the Auditing section of the CPA Exam next Fall. I’m concerned because I just studied all of the SASs in my Auditing class last Spring. I need to know if I have to go back and study them all over again.”

“It’s not as bad as it looks,” says Dr. Hillison. “While there are some areas that dramatically changed, many of the standards remain basically the same conceptually.”

Dr. Hillison continues, “The biggest change is to the auditor’s report. The new report will have headings for each section and will be more explicit in defining the responsibilities for the financial statements and for the audit. Additionally, the term ‘unqualified opinion’ will be replaced with the term ‘unmodified opinion.’ In another change, a new standard on ‘group audits and component auditors’ replaces the existing standard on the use of ‘other auditors.’ The term ‘explanatory paragraph,’ which is currently used to draw attention to special items, is replaced with either an ‘emphasis-of-matter’ or ‘other-matter’ paragraph. No longer will the standards refer to ‘special reports.’ These are subsumed into various other standards on reporting responsibilities.”

Dr. Gleim, CEO of Gleim Publications, Inc and expert on CPA test preparation, suggests that candidates plan to take the Auditing and Attestation section by the end of the January/February window in 2013 to avoid having to study the new codification for the exam (This provides a buffer of the next window if the candidate needs to retake the part). “Of course,” he concedes, “not everyone will be able to plan their schedule in this manner.” To address the concerns of those candidates who must take the exam in the third testing window or later, Dr. Gleim and Dr. Hillison have created a special edition of the CPA Review Auditing materials to be released in the spring of 2013.

The Gleim CPA Review System includes 18-months of product replacement and updates so you always have the most current materials. Candidates should continue to take their exams without worrying about materials changing. Gleim will provide the new AUD edition as soon as it’s available to candidates who have purchased a complete Review System or Review System part (BEC, AUD, FAR, or REG).

If you would like to read more about the changes in the content of the standards, visit thegleimblog’s Academic Corner and read the post titled “Clarity Standards” by guest blogger Dom Savini. CPA candidates should contact the experts at Gleim Publications for more information or advice on how to study for and pass the exam before the new standards are testable.

You can try a complimentary demo of the Gleim CPA Review System here. All you have to do to begin is create an account.

Team Gleim
sales(at)gleim(dot)com
800.874.5346

 

Looking Back At My CPA Exam – It’s All About The Timing

October 25, 2012, by No comments yet

Written By Guest Blogger Christine L.

Taking all four parts of the CPA exam in four months is not how most people choose to do it, but for me, it was logical that I try. I didn’t have a job; scheduling conflicts forced me to push graduation out a semester, and graduating in the summer didn’t sound that exciting. So I tried it. I did it, and it was hard. It would have been hard no matter how I did it, but I it could have been easier had I known some things I know now.

I already had some things to say about academics, but really, the academics were not harder than my classes. It’s the volume of these things that makes them hard. It took me more hours than I thought it would. Some study units took more than six hours, some took less, but on day one, I didn’t know how it would add up. There are people who will tell you that you can do it in half of the hours I spent. Of course first-time pass rates for these exams are not real high, and you might wonder if there is some relationship between these two facts. I wanted to pass more than I wanted to spend my time elsewhere. That sort of contradicts the part where I wanted to pass all four parts in four months, and this was an issue. I was always chasing after myself—if I take a break now, will I be able to make it up tomorrow? Studying for hours was never a problem. The problem is that I had to keep each day’s hours reasonable if I wanted to keep going for four months, but I miscalculated because my experience with the first exam led me to underestimate how many hours I’d spend on the last exam.

I didn’t spend enough time on REG. What I would do now is to take all the Gleim sample tests for every part first, and stat with the one with the lowest score and work down. You’d have to vary this though, depending on when the blackout month(s) fall into your planned schedule.

The real lesson I took away from this is that passing the CPA exams has as much to do with your life, your job, your school schedule, and your finances as it does with all that intellectual stuff. If you’ve taken 150 hours of accounting courses and done well, you’ve proven that you can handle the material. What’s left is about discipline and concentration and an awful lot of just keeping at it. Plan it out, think it through, know yourself, and let the test prep take care of itself.

 

Notice to Schedule Expiring

October 11, 2012, by No comments yet

 

Written By Guest Blogger Oprah M.

Today I decided to print my Notice to Schedule and realized that the latest I can take the exam is the first week of October. So I’m sitting here trying to figure out how to get everything finished for each study unit along with a final review. I figure since I paid for the test and NASBA doesn’t give refunds that I would go ahead and take it. I scheduled the latest time I could get in October.

Once I found out my testing time, it wasn’t a hard decision to continue. I have completed up to Study Unit 12 so I have eight more to go. For the next two weeks I took some vacation days so that I could study. I feel like I let myself down by not knowing my time was about to expire.

Right now, multiple-choice questions have become my savior. I’m using the Gleim software I downloaded to my computer for which I don’t need internet access to use. I’ll definitely have to start doing more Gleim simulations to get comfortable and teach myself how to stay within the allotted time. I have been studying 2-3 hours a day instead of just one hour per day. Carrying flash cards around has become another good way for me to study. When something doesn’t require too much of my attention, I review my flashcards. I created the flashcards from the Gleim AUD review book so that I wouldn’t need to always carry a book to study. Gleim has provided me with all my self-study CPA AUD review materials needed and has also assigned me a personal counselor to help me answer any questions or problems I may have. It all comes down to the next two weeks.

Wish me luck