Avoid guessing “A” as an answer choice. Apparently, “A” is the most commonly selected incorrect answer on the exam. So only select “A” if you’re confident that it is the correct answer. Guessing “A” is a bad idea the exam makers tend to put “A” as an attractive option.
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This is basically a list of introductory accounting topics that I never really took the time to completely understand or forgot:
This will come in handy when you start Gleim Study Unit 5: Internal Control – Sales/Receivables/Cash Receipts Cycle and Gleim Study Units 10-14 on Evidence.
Here’s a short list of things I don’t understand:
Audit Plan vs Audit Program – What the heck is the difference?? I’m sure there’s an annoyingly obvious (stupid?) explanation.
An audit program is a listing of audit procedures to be performed for specific areas to test assertions? Meaning that an audit program is part of an audit plan? So an Audit Plan is all the procedures, while an audit program is designed for specific areas? Screw it, I don’t care.
Billing (Sales) Register – My guess is register = journal, so Sales Journal? I’ve only seen “register” used in only 1 practice question so far.
Bill Lading works for the post office.
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anyone read the wallstreetjournal online, but are not a paid subscriber? have you ever tried to read an article, but got locked out and asked to subscribe?
solution: search the article title on google and follow google’s link or view cache. if the content is still blocked, try deleting browser history/cache and try again. this method has never failed me.
ive come close to subscribing, but i hate the pricing schemes. also, there have only been a handful of articles blocked that i really wanted to read. for other blocked articles, im usually content with just reading the user comments.
now, if rupert murdoch were to block off the user comments for only paid subscribers… id probably reconsider paying for access. the comments on wsj.com are (most of the time) very insightful and help me form my opinions on things here and there.
well, there ya go… not sure why i felt like writing this, but maybe that helps someone out? haha
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I joined their forum in 2009. Since then they've grown like crazy, but the community is still awesome and down to earth.