When should I practice simulations for the CPA exam?
I truly believe that is a personal decision and one you’ll figure out in due time as you start studying. Simulations are trying to emulate what it would be like in real life. You have a task you need to accomplish. You have exhibits like emails, memos, reports, financial statements, etc. You have to take that information and complete the task.
Ultimately, I would suggest doing them after you are fairly comfortable with the material in the module/chapter. The one reason I would wait is that simulations don’t necessarily test just what you learned in that module. They combine a variety of different topics to see if you can understand the big picture.
My view is to attempt it when going through a module, but most of the focus should be placed on watching the video and making sure you understand the big picture. When you come back for your final review, this is when you should be able to take the simulation head on and nail it!
Here are a few simulation videos from Universal CPA that you should check out:
Back To All Questions
You might also be interested in...
-
CECL Excel Workbook
If you would like to use the Excel workbook that was used to create the Universal CPA lecture on CECL for debt securities, please click the link below to download the Excel workbook: CECL Calculation workbook (Universal CPA Review)
-
Journal Entry for Direct Materials Variance
Journal Entry for Direct Materials Variance In the current year, Mission Burrito budgeted 6,000 pounds of production and actually used 4,000 pounds. Material cost was budgeted for $5 per pound and the actual cost was $8 per pound. What would the debit or credit to the direct material efficiency variance account be for the current...
-
Understanding Variance Analysis
Variance Analysis Variance analysis is a method for companies to compare its actual performance vs its budgeted amount for that cost measurement (related to the flexible budget). The differences between the standard (budgeted) amount of cost and the actual amount that the organization incurs is referred to as a variance. By analyzing variances, the company...
CECL Excel Workbook
If you would like to use the Excel workbook that was used to create the Universal CPA lecture on CECL for debt securities, please click the link below to download the Excel workbook: CECL Calculation workbook (Universal CPA Review)
Journal Entry for Direct Materials Variance
Journal Entry for Direct Materials Variance In the current year, Mission Burrito budgeted 6,000 pounds of production and actually used 4,000 pounds. Material cost was budgeted for $5 per pound and the actual cost was $8 per pound. What would the debit or credit to the direct material efficiency variance account be for the current...
Understanding Variance Analysis
Variance Analysis Variance analysis is a method for companies to compare its actual performance vs its budgeted amount for that cost measurement (related to the flexible budget). The differences between the standard (budgeted) amount of cost and the actual amount that the organization incurs is referred to as a variance. By analyzing variances, the company...
