[FutureCPA]

What is the best advice someone has given you with regards to studying for BEC?

I need to pass before busy season.

[thunderlips]

BEC is a mixed bag that has coso, cost accounting, economics, IT. This section has changed very litle compared to the other 3, especially cost accounting and variance analysis

[Shark]

Know your COSO!

[Jonah]

With COSO, do I also need to know the Enterprise Risk Management 20 principles? It just seems like a lot

[bigstakk]

Yes, I would be very familiar with them.

The AICPA blue print is exactly what you will need to know. Timing is important with BEC to make sure you have enough time to answer the written sections.

[ezakipocky]

CRIME, EBOCA, SAFR and etc.

AUD 7/3
BCE 81
REG 7/15
FAR 8/18

[Jonah]

THANK YOU! I will spend some time on ERM/COSO memorization for sure.

[aaronmo]

I recall getting a fair bit of cost accounting…the variance stuff. Lots of COSO (which I HATED), heavy dose of IT.

There was a fair bit of “weird”. By weird, I mean stuff that wasn't in my prep materials at all, and which I had never seen/heard of. But if it's weird for you, it's weird for almost everyone else as well. So my advice is not to worry/panic. Don't spend time on it. If you see weird, guess and move right along.

[Jonah]

How well should I know WACC calculation for the after tax cost of debt and the multiple methods of calculating cost? (discounted cash flow method, bond yield risk premium, CAPM)? Also, how many of the ratio formulas should I be memorizing? All of them?

[Journeyman]

WACC was a focus for me, I definitely recommend knowing WACC forward and backward. That was probably what saved me.

[Stevie]

know how to do variance analysis, know the basics for coso, know how to write a business memo

[Author]

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