[Anonymous]

I’m taking BEC next week and I’m just wondering on what to focus on during my final review. Should I spend a ton of time making sure I have every single formula memorized, or should I focus more on making sure I really grasp all the concepts? I don’t want to waste precious time being super tedious with formula memorization, but I also don’t want to get to the test and realize there are a ton of calculation questions that I don’t know how to do. Math has always been my strong subject and I know or can at least figure out most of the common financial ratios.

Any advice? Does the test tend to lean more toward conceptual questions, or are there a lot of calculations as well?

[martimann]

When I took BEC I made sure I had the COSO and the other conceptual stuff firm on my mind, once I learned it and did lots of MCQs on it, it was like it wasn't even there anymore. So it felt like a short test when I focused on the other material. If you are short on time I would recommend that you don't neglect the conceptual stuff cause it will for sure show up a lot on BEC.

[Namstut]

@Allie530 I hope I am not violating disclosure rules but my BEC was heavy on computations. Basically, you just have to know it all because you don't know what card you will be dealt on your test. 🙂

AUD 7/6/16 Passed
BEC 9/3/16
FAR TBD
REG TBD

[aaronmo]

Both IMO, depending on the formulas. The conceptual is MORE critical…but it tests both. The suck is you probably won't get many formula questions (you WILL get tested on variance and cost accounting), but you won't know which you will get…and they are often high point questions. I know that I studied the financial ratios every exam and got almost nothing on them beyond the current ratio, but that doesn't mean you won't!

My test focused on COSO and cost accounting…healthy amount of the IT garbage, a little econ, a little common sense, and a little “what are they talking about?!?”

[madelinealexa]

I hate it say it but definitely focus on both, I also am taking BEC in a few days (for the 3rd time) :/ Best of luck to you!!

[Mike J]

I echo everyone's opinion that be more comfortable with the concepts than just memorizing for memorizing sake.

Case in point, I grouped in my notes how each formula related to others. So I had EVA listed above the weighted average of debt which was above the cost of capital formula.

I listed the formula for COGS in terms of COGM in terms of Raw Materials, Labor and Factory Overhead.

I grouped the different ratios together. Hint: what is turned over is on bottom and on top is usually sales. Return on… is similar except for Net Income on top because return is like the ultimate.

I grouped the capital projects formulas together to highlight the differences on one page.

I wrote-out the variance formulas and underneath each I wrote the unit conversions to show how to cancel out the units to get to $ – $.

You get the idea.

…

Also, I would know CVP very well. I don't know if I can get any more specific than that re disclosure.

[Anonymous]

This is all really great advice. Thanks everyone!

[Mike J]

You're welcome, Allie.

Additionally, I would search YouTube for a video series under the name (something like) MBA is bullshit dot com. He breaks down the formula pretty well.

[Author]

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