
Practice four ratio analyses in a CPA audit sim—asset turnover, profit margin, times interest earned, and accounts receivable turnover—comparing to industry standards and identifying differences.
Organize PP&E additions sims by listing exhibits, reviewing testwork, and comparing asset details. Identify discrepancies, propose adjustments, and assess net income impact through correct in-service dates and depreciation.
Organize the PPE rollforward and exhibits to determine adjustments to the net PPE balance and net income. Apply depreciation, construction-in-progress, buildings, and materiality thresholds of 35,000 and 12,000.
Frame your answer first to distinguish control deficiencies, apply materiality thresholds, and determine the appropriate communication for material weaknesses, significant deficiencies, and important deficiencies.
Break down audit sims to simplify each scenario and reduce intimidation. Organize document review sims with an exhibit list, client name, audit year, materiality, and frame an answer before choosing.
Updated for 2022
Do simulations give you anxiety? After this course, you will feel more confident with simulations. You'll learn simple tips and strategies to make sims easier to handle. And each of these sims are from recent CPA exams. That means these sims are the closest thing you'll get to your actual exam. Let's pass the CPA exam!
In this course, we will review 4 simulations, including 2 simulations with a gazillion exhibits, which are a lot easier than you think. (They can't make those simulations super big and super hard - no one would ever finish the exam.) With each simulation, you'll learn a new strategy for beating the exam. Apply each of these simple strategies on the exam and you should gain points on the sims.
My name is Liz Cho. I'm a CPA, attorney, and former accounting professor. I studied for 3 months and passed all 4 parts on the first try. Snap! CPA was created to help students pass the exam in a simpler way. We break everything down into easy-to-follow concepts and try to make learning visual and entertaining. (Long, boring textbooks are not our style.)
See you in the course and let's rock the CPA exam!