[Anonymous]

In all seriousness, I consider myself at least normal intelligence and have a great work ethic and determination. How are we expected to understand, memorize and apply all the formulas? Reg seemed liked a 3rd grade test compared to this study material. Granted I just started this part, but it looks overwhelming. What do you do for this thing, somebody inspire me or least tell me it’s impossible. Could they really test you on all these formulas? The theory I can see, but formulas the size of my leg, so unfair in perspective to real public accounting,.

[Youngbizman]

What exactly are you referring to? The WACC formulas or?

[MustPass1988]

I feel the same way- there are SO many formulas. It is ridiculous…I don't know what I need to know! I basically went through and memorized every formula for Ch 3 (financial section). Since that is the most heavily tested topic, I thought it would be the most beneficial. There are tons of formulas in the economics chapter too but I don't think I will spend much time memorizing those. I take it on Monday and at this point I'm ready to be done with the thing, regardless of what I know.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[Anonymous]

@broadstreet – I felt exactly the same way you did when I first started. I was so discouraged by all of the formulas and I just wasn't getting the information. I used Becker (not sure what material you're using) but I did all of the homework and even purchased the Wiley on-line test bank and did as many MCQ's as I could and it does start to make some sense and some of the formulas start to stick. I just took my exam on Monday and there were only two formulas that I had problems with. And 1 of the two I did see in my Becker review it just confused me so I didn't focus on it and the other one was also one I had seen during review I just couldnt get it to work during my exam.

So just do as many MCQ's as you can and it will get easier (not easy, because nothing about this exam is easy, but it will start to make a little more sense).

[Anonymous]

I am glad I am not the only person that feels this way. I see so many people saying this exam is not that difficult, but it has been very difficult for me. I passed FAR and AUD, thought this exam would not be much harder to get through than AUD. I was definitely underestimating this beast to say the least!

[MustPass1988]

@85cpa- I definitely thought BEC wouldn't be much harder than AUD- I am so frustrated with Becker. I listen to the lectures, read the chapter, then get to the MCQ and progress tests and see stuff on there, that isn't covered in the lecture. I am just praying that Becker is tougher than the real exam.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[mavsbustin3s]

I have found it useful to not try to memorize the formulas step for step but to understand them. Almost all formulas make logical sense if you think them through. If you forget part of the formula during the exam, you will be able to think through what logically should be added, subtracted, etc.

An example of this would be the WACC formula. Weighted average implies that a company will determine the cost of their capital based on weighted amounts of the cost of each source of capital (debt and equity). To find this, we must take the weight of equity x the cost of equity + the weight of debt x the cost of debt (1-tax rate). We must multiply the cost of debt by 1-tax rate to figure out the after tax cost of debt. If you understand the formula and during the test you forget what you need to multiply the cost of debt and equity by, you can think it through and determine the weighted average cost of capital wants the weighted average, so I must multiply the cost of debt and equity by the weight of debt and equity.

Hope this helps someone.

BEC - 85
REG - 77
AUD - 73, 83
FAR - 68, 89

[mavsbustin3s]

@mustpass1988 – I have heard that the order of difficulty is: Becker practice questions>Becker practice tests>CPA exam. I have also found this to be true. First time through the Becker practice questions I would get 65-80% correct, I got 74% of the questions correct on both practice exams, and I got an 85 on the exam.

BEC - 85
REG - 77
AUD - 73, 83
FAR - 68, 89

[Author]

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