How to Study for Success in Auditing Theory

Some students consider auditing theory as one of the most difficult subjects given in the CPA Board Examination.  Usually they have difficulty on answering multiple choice questions where the choices are seemed to be all correct answers. Some students are really good at computations but could hardly answer theory question.  With this, here are the tips which you may consider to study for success in Auditing Theory.

1. Read the auditing theory syllabus first. Reading the CPA Licensure Examination Syllabus could help you determine the topics which are not yet familiar to you or you could use it as an outline of your plan for studying the subject. With this, you will have an organized way of studying the subject without leaving any important topics unread.

2. Have with your side Auditing Theory books and reviewers. This is for you to be focused on what you are doing.  Take aside first the other subjects which are not related with the subject. Doing this could save you a lot of time.

3. Avoid distractions. The real way to absorb everything that you are studying is to give your full attention to it. For the meantime, turn your cellphone on a silent mode, turn off your television and close your laptop or desktop computer if you are distracted by these things.

4. Know the theory, then answer the questions. By using this approach, you are confirming whether you really know the subject matter. But there are students who answer the questions first before knowing the theory or the concept.  But what worked a lot for me was the other way around. See it for yourself and you will discover that this tip is more effective.

5. Use a highlighter or underline the important concepts. With this, you could easily identify and review the key concepts in the material without reading it again throughout.

6. Encircle the negative words such as “not”, “except” or words such as “least likely”, “more likely”. This is to warn yourself that what may be you are thinking is not correct.  This is very applicable in answering the multiple choice questions in auditing theory as most of the questions involve these words in it.

7. Be honest in answering and score yourself. It is important that you finish first answering all the questions before checking your answers.  On this way you are creating a situation much similar with the board exam. As if you are given an exam and a rating will be given to you later.  Check honestly your answers and score yourself. For example in 1-10 questions, you have to get at least 8 correct answers, (assuming zero-based) for you to pass the exam, much similar with the board exam that you have to get a rating of 75%.

8. Review the questions where you went wrong. This is the essence of the review to determine where you commit a mistake so that you will never be wrong on it again and repeating the same mistake over and over again.  After all these, you can say to yourself that “I am better than before”.

9. Get your pens down and pay yourself. Have a sip of juice or a bite of a hamburger.  Relax for a moment for a job well done. Take some rest. There is more to life than accounting.