BEC Study Group – Q2 2018 - Page 3

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  • April 5, 2018 at 4:53 am #1757183
    Katie
    Participant

    @Dean I would go over all the non-WC SIMS if you have time. I find this to be a great review tool because they really summarize all the information in the chapters. For the WC, I personally plan to pull out the topics of the practice SIMS on a word doc and list some “buzz words” from the solutions and use that to study.

    April 5, 2018 at 10:04 am #1757335
    j3cpa
    Participant

    I'm FREAKING out.

    Taking 4/13 with 3 more full days of studying. My MCQs with ROGERS are at 70% range and NINJA are at 80 sometimes. Anybody got any last minute studying tips?

    Study Material:
    GLEIM
    BEC - FEB/2012
    AUD - FEB/2012
    FAR - JULY/2012
    REG - JULY/2012

    April 5, 2018 at 4:30 pm #1757753
    Allsheneededwassome
    Participant

    Hi Guys: I’m back to studying for BEC after just retaking AUD AND after an expired BEC credit. Not fun. I barely passed last time so I’m going to approach it like all new but hope and pray I remember some of it from before. Last section and I want to be done. I want my life back and I want to be able to spend time with my kids again a just live. Sigh.

    April 7, 2018 at 10:50 am #1758992
    j3cpa
    Participant

    Has anyone tried the BEC AICPA sample test? I'm having a hard time getting the Operating Cash Flow Ratio.
    I looked online and Operating Cash flow = Net income + non cash expense (ie depreciation) – change in Working Capital. I followed this and I can't get the correct answer.

    Study Material:
    GLEIM
    BEC - FEB/2012
    AUD - FEB/2012
    FAR - JULY/2012
    REG - JULY/2012

    April 7, 2018 at 5:52 pm #1759288
    LCros
    Participant

    Hello Ninjas:

    For those of you using Roger, I decided to go back through and rewatch the BEC lectures and I saw that one of the lectures had been updated like ERM. But I looked at the course outline breakdown, it is still showing the old info prior to Q2 changes.

    When you click on the actual lecture for ERM, lecture 2.08, it is 31 minutes and it is totally new.

    Did I miss something? Did they tell on their website where the new updates were? Right now, I don't see anything.

    Are there anymore lecture updates that you all have found? I know IT changed in Q1, but I don't see other changes.

    Thanks,

    April 7, 2018 at 11:37 pm #1759495
    busy
    Participant

    A manufacturing company prepares income statements using both absorption and variable costing methods. At the end of a period, actual sales revenue, total gross profit, and total contribution margin were approximately equal to budgeted figures; whereas net income was substantially greater than the budgeted amount. There were no beginning or ending inventories. The most likely explanation for the net income increase is that, compared to budget:

    1. actual manufacturing fixed costs had increased.
    2. actual selling and administrative fixed expenses had decreased.
    3. actual sales prices and variable costs had increased proportionately.
    4. actual sales prices had declined proportionately less than variable costs.

    Plz help me with the explanation. I am not able to understand the explanation given in NINJA. It says – Option 2 as answer

    April 8, 2018 at 5:30 pm #1760156
    Jen-J
    Participant

    @busy:
    Revenue minus COGS = gross margin. Gross margin minus operating expenses = Net Income.
    If Revenue and Gross margin are both equal to budget but Net Income is above budget, then operating expenses must be below budget.

    Revenue minus variable costs = Contribution margin. Contribution margin minus fixed costs = Net Income. If Revenue and Contribution margin are both equal to budget, but Net Income is above budget, then fixed costs must be below budget.

    So you want an answer that involves lower operating expenses, and one that involves lower fixed costs. #2 involves lower fixed operating expenses, so it's correct.

    April 9, 2018 at 9:46 am #1760750
    Nikki374
    Participant

    @j3cpa, for last minute studying, I usually do SIMs and target weak areas. I also plan to listen to audio and re-write notes during my last couple of days before the exam. The financial management section is my weakest section so I'm trying to drill these formulas into my memory.

    April 9, 2018 at 10:59 am #1760879
    Allsheneededwassome
    Participant

    @j3cpa: looks like BEC is coming up soon for you


    @nikki    : you're 4/22


    @katie    : 4/21
    @jen-: you're in early may probably closer to when I'm taking it.

    Please update us as you guys take the tests and let us know how they went.

    When is everyone else taking it?

    April 10, 2018 at 7:35 pm #1762574
    Allsheneededwassome
    Participant

    For those using Becker how are you guys preparing for ERM outside the updated pages? I didn’t see any new questions. Looks like Becker is going to update content in May. So are you doing the MCQs that are currently out there in the software or is that a total waste of time?

    April 12, 2018 at 7:17 am #1763860
    Anonymous
    Inactive

    @Allsheneededwassome They have MCQ posted now on the same place they uploaded the new notes.

    April 12, 2018 at 7:47 pm #1764659
    Jen-J
    Participant

    Good luck tomorrow @dean and @j3cpa

    April 12, 2018 at 7:52 pm #1764664
    j3cpa
    Participant

    Jen-j: THANK YOU! I spent all day today just relaxing with my family. Did not look at the books or anything. I studied Sunday and that was it. This whole week has been too hectic.

    Study Material:
    GLEIM
    BEC - FEB/2012
    AUD - FEB/2012
    FAR - JULY/2012
    REG - JULY/2012

    April 12, 2018 at 9:14 pm #1764731
    Allsheneededwassome
    Participant

    Thank you @badasset. I saw them much later when I printed all their stuff out.. I didn’t think to scroll through to the end before posting here 🙈

    Good luck to everyone taking the exam this week!

    April 13, 2018 at 6:06 am #1764868
    nick
    Participant

    HI
    could anyone share their experience that how was their simulation part.
    and which part is more important while studying for BEC

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