nnのCPA試験の旅 in Hawaii CPA試験の旅 in Hawaii

Hello again!

by nn_77
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タグ:Auditor's Standard Report ( 2 ) タグの人気記事

←Click here if you liked today's diary. Thank you.

Now the little break after the exam is over. I resumed my study of USCPA exam again (just in case of...)!!

For starters, I tried this.

【Independent Auditor's Standard Report】

↑ recited by nn from memory with my eyes closed, which means they are not 100% precise. Sorry!

・自分が本当に監査人になってプレゼン or 電話しているつもりで話す。(アドリブで"therefore"とか"then"が自然に入るくらい)
・"the last date of the field work"と、最後に読んでいますが、これも一緒に「セリフ」として覚えると、MCで監査報告書の日付は?と問われても大丈夫。(口がセットで覚えるので、売る覚えやド忘れしない)

hahaha. It's embarrassing for me to hear my own voice, especially in English.

You know, it's still difficult for me to distinguish between "R" and "L" when I pronounce them, because we don't have such a clear distinction between those consonants in Japanese language.

But I'm relieved to know that I still remember the every sentence of the Independent Auditor's Standard Report.

I have to speed up day by day so that I can get to the peak again by the time I will receive the results of the exams!

Script in mind / 頭の中の原稿 (← click here!)
by nn_77 | 2006-08-17 20:57 | >AUD | Comments(2)

Speaking of...

   I decided to memorize some types of the audit report because I encountered, in a sample test of AUD, such a question of SIM that requires me to correctly cite the audit report. It was very hard and also time consuming to locate the relevant part in the authoritative literature on the test application software. I think I have to be able to associate the AU number with what’s written in the chapter, or I have to correctly memorize some important phrases in SAS, so that I can put EFFECTIVE key words in the search box.

   I began with the memorization of Unqualified Opinion of the Independent Auditors Report.

Independent Auditor’s Report
We have audited the accompanying balance sheet of X company as of March 31, 2006 and the related statements of income, retained earnings, and cash flows. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the financial statements based on our audit.

We conducted the audit in accordance with the auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain the reasonable assurance about whether the financial statements are free of material statement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the account principles used and the significant estimate made by the management, as well as evaluating the overall financial statement presentation. We believe our audit provides the reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of X company at March 31, 2006 and the results of its operation and its cash flows for the year then ended in accordance with the accounting principles generally accepted in the United States of America.

Last date of the field work

   At first, it seemed too long to memorize. But it took only a day to memorize whole the report, actually. (Actually, I typed the above standard report without any material at hand!) I guess I made it in a day because, after going over many MCQs so far, now I HAVE UNDERSTOOD the meaning of each sentence with the implications between the lines.So it seems that I can remember the other types of reports in this vein.

   Speaking of the topic of AUD, today I checked out Hitomi-san’s blog, where she introduced what we have to know about AUD exam before we sit for it. I learned a lot from there. Thank you, Hitomi-san, and Congratulations on your success in FAR!

   Speaking of the topic of the success in AUD exam, Nihao-KT san, who helped me a lot with lots of advice when I was troubled with my NTS acquisition, got through AUD exam, too. Congrats! 可喜可賀、Nihao-KT先生!!He's providing a lot of useful info on AUD exam on his blog, which is definitely worth checking!

   To be honest, I'm now a bit jealous, but I also know the fact is that they deserve their success.

   Me? I don't deserve it, YET.

   I’ve gotta follow them!
by nn_77 | 2006-03-31 18:40 | >AUD | Comments(2)