Learn how to successfully complete an entire Document Review Simulation (DRS) by viewing this short video from Gleim CPA Review. This video was originally part of our live webinar “Everything You Need to Know About the DRS on the 2016 CPA Exam” featuring Professor of Accountancy Amy Ford, CPA, CMA. The DRS on the CPA Exam is the latest version of a Task-Based Simulation (TBS) and the most momentous change to the 2016 CPA Exam. AUD, FAR, or REG sections of the CPA Exam scheduled on or after July 1, 2016, could include the DRS.
Click here to view the second video in our three-part series.
An Introduction to a DRS on the CPA Exam
In the previous video, Amy presented candidates with each component of the DRS she was working on, including four tabs that allow candidates to navigate through the simulation and the provided documents. For this DRS, the tabs were the Document Review tab, the Authoritative Literature tab, the Financial Statements Tab, and the Help tab; however, other DRSs may feature an Exhibits tab instead of a Financial Statements tab.
Amy also walked through the different options that may appear when candidates select an underlined portion of the text. By reviewing these options, Amy revealed that candidates must click on every portion of underlined text in the DRS on the CPA Exam in order to receive full credit, even if one of the underlined portions is correct.
The Proper Approach to a DRS on the CPA Exam
In this video, Amy demonstrates the steps to successfully complete a DRS on the CPA Exam.
- Make time to understand the underlined section and the information in the financial statements or exhibits.
As candidates work through a DRS on the CPA Exam, they will see small blue dialogue boxes at the end of each section of underlined text. These boxes indicate the sections with which a candidate has not yet interacted. After reading a section of underlined text in a DRS, candidates can discover whether or not the information is correct by reviewing the various documents provided. Candidates working on the kind of DRS that appears in the video will have to consult the different items in the Financial Statements tab (but for another type of DRS, they may need to consult the Exhibits tab). Amy used a consolidated statement of operations to edit the first portion of underlined text on the DRS in the video, and she reviewed footnotes to edit the second portion. When candidates review a document in the Financial Statements or Exhibits tab, they should take the time to comprehend fully the information they are looking at so they do not make an avoidable mistake.
- Carefully review the answer choices and verify the correctness of each word.
After candidates have used the documents provided to fully comprehend the underlined section and do the math (if applicable), they should return to the Document Review tab and carefully assess the answer choices. It is important to confirm the accuracy of each word in the answer choices before finalizing your answer.
- Discover shared meaning between the answer choices and the documents provided.
As candidates read the documents provided in the Financial Statements or Exhibits tab, they must be able to detect when the answer choices communicate the same meaning as phrases or sentences found in these documents. The wording might not be exactly the same, so in these instances, the DRS is testing a candidate’s ability to understand the meaning the two sources share. Once candidates have selected their answer, a blue check mark will appear at the end of the underlined section to indicate completion.
Everything You Need to Know about the DRS on the CPA Exam Continued
In Part 3 of this video series, Amy concludes her thorough demonstration of completing a DRS. Watch the third part next, and discover how the exceptional coverage of Gleim CPA Review can familiarize you with every part of the 2016 CPA Exam, including the DRS, by learning more about our review systems today.