Friday, November 21, 2014

So I have completed the basic exam prep case along with simulations + MCQ (<-- only one round of 70 questions though, they give you a whole new round of questions everytime you input answers I believe, fortunately they're similar so it's not entirely tough; still scary though)

I just completed the Nuclear Excellence Inc. case. It helped me with identifying accounting issues and these two auditing functions: risk assessment (which is just identifying the risks of material misstatement) and materiality ( which is just talking about who the users are, what they're interested in, what to base materiality on (generally it's 5% of NI or 2% of total rev. <-- esp. for NFPs), the accounting issues that need to adjust NI with, and then to arrive at a materiality amount, and lastly talk about performance materiality & the amount of testing needed.

Now, to review my cases. I'll have to do a lot of printing i think. Or not!... Noooo, here's what I think I need to do:

Master those damn practice cases! I had a new one every week. We had them PEER reviewed. So, I need to ensure that I can do the practice cases NICELY! Then, I'll move onto the immersive cases.

The exam is nearly 24 hours away, and while I am ready, I need to test myself more to ensure I'm ready on the dot.

Oh yeah, I've noticed eating really healthy food makes you fall asleep no matter how long you want to stay up! So it gives your brain the sleep it needs. Furthermore, It also makes you INCREDIBLY HEALTHY! I was feeling "uneasy" for a while, not going to explain further than this, and WOW, thank you thank you thank you healthy food + sleep! I could kiss you! In fact next time I eat some brocoli I'm going to kiss it, before I chop it up and gobble it up. Romance at it's finest! Said the praying mantis.

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Well it's getting closer to the time of the exam. I've started to get a hang of the auditing part of the cases. I need to do more practice cases. I've made a decision.

from 7 PM till 10 PM my butt will be in my chair studying.

so before that point, I will be eating a bit of food, and possibly refilling my water bottle!