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Hi
I have just read 11 chapters of AA yet and I was trying to do questions from revision kit for the chapter introduction to audit evidence but I am not able to solve it as it includes the questions regarding depreciation and how to apply procedures on non current assets and in this chapter it hasn’t mentioned anything about it.
I don’t know how to apply procedures?
Can you please suggest me, should I read all the chapters and then start doing practice kit? Because I am assuming there is more and detailed information in other chapters. I am scared and confused.
ThanksHi,
Do you mind telling which Revision Kit do you have? I assume either BPP or Kaplan.
If that is so, I will advise you go according to the syllabus and guide.
Under the ‘Detailed Syllabus’, you will see the syllabus areas.
A. Audit Framework and regulation
B. Planning and risk assessment
C. Internal Control
D. Audit Evidence
E. Review and reportingFirst get done with one syllabus area, let’s say A. Audit Framework and regulation, go through the topics under this section well, watch the lecture videos and read the notes and after this head for the kit.
Also and most importantly, AA is not about merely reading up the concepts and mugging the textbook. It is about application. When answering questions you need to think outside the box ( or rather book!), be practical and also use financial reporting knowledge (something you studied in F2, F3, F5 and F7)
Like how one account can have an impact on the other…What can create that impact..etcAnd make sure you answer what the question is asking. For instance, if the question requires you identify and explain strengths of the internal control…DON’T go ahead giving the weaknesses! I know this may seem obvious and a stupid thing to do but believe me under exam pressure we students end up doing these blunders!
Hope this helps.
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