It’s only been a month but I feel so tired of studying already. Counting down the days to reading week now.
Today’s Classes
ACC 650
Today’s case, Dry Quick, was yet another entirely new situation. This time, we were thrown into the audit midway (so not audit planning memo, as the planning stage has already completed). Damn it, can’t even use the audit planning memo template that I’ve been working so hard to memorize these past few days.
ACC 680
IMO, this Amos Police Force case is the most difficult 680 case yet. I CANNOT UNDERSTANDING VARIANCE ANALYSIS FOR THE LIFE OF ME!
Standards I Read Today
- I finished up CAS 450 which I had started yesterday.
- I’m slowly learning to be more flexible with my reading and note-taking. At the beginning, I tried hard to stick to the exact same template for every standard: scope, definitions, classification, recognition, initial measurement, subsequent measurement, etc. But some of these are just not applicable to every standard. For example, for inventories, there is no point to take separate notes for initial vs subsequent measurement because they are always measured at LCNRV. There also wasn’t anything about presentation in IAS 2 or ASPE 3031, so I didn’t write anything about presentation.
- IAS 40 took quite a while to get through. I kept getting distracted by 1) Kevin, 2) feeling hungry, and 3) the temptation of online shopping. Overall, it was a pretty frustrating couple of hours.
By the way, I realized as I’m writing this that today is Valentine’s Day and we’ve done absolutely nothing to celebrate! I would’ve feel too stressed for time to do anything special today anyway 😥 guess I’ll have to bank it for next year.