[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

@nailcpa

YES, read the ancillary material! I had questions from that material on FAR, AUD, and BEC. Trust me… read it twice if you have to. It's boring but it will be worth it in the long run.

[lateralus ag]

“Also..how important are the ancillary materials for independent review”

I don't know about BEC, I haven't taken it yet, but the material for AUD, FAR, and REG was not worth going over for me. I didn't look at any of the “extra” stuff. I had enough trouble mastering the “important” stuff personally…..

I figure those questions are what I like to call “pot” questions.

Unfortunately it took me upwards of ten years to graduate college, off and on. I got REALLY good at taking multiple choice tests. Really good. My experience, which is completely unscientific and is based on my seriously questionable sanity and ability to cope with reality, is this.

Multiple choice tests are actually made up of percentages. Especially the the types of standardized tests that we are taking for the CPA. All the questions go through a rigorous statistical process. The ones that “meet the criteria”, statistically speaking, make it to the test bank. Long explanation short, its a numbers game. We all know that there are two answers that you are supposed to choose between. The majority of the questions will be taken from the “important” material, with the rest being “test data” questions and ancillary items.

My thought process when taking these test is to go with the numbers. I can narrow down almost all of the MCQ's to two answers, as can the rest of you. If you KNOW the material, not memorize the material, but KNOW the material, you are automatically going to increase your chances of “guessing” right between the two “close” answers. The more you know of the “important” material, the better you will “guess” when you need to.

So, taking the test comes down to a game of numbers. What does that boil down to? Time studying. The more time you spend studying the material that will be on the test, the better you do. Sounds obvious, but go with me here. The majority of the questions WON'T come from the ancillary material. Therefore, if you study the ancillary material, you might be learning information to get ONE or TWO questions right, but you are foregoing the time you could have spent nailing down the information that will be contained in 10 or 15 questions.

That's a long way of saying, the time you spend on the ancillary material is MUCH better spent on the “important” material.

Sure, I don't score in the high 90s on my tests. But then again, I am playing the numbers. Maybe if I took and extra week per exam to study the ancillary material I would have gotten that 97 or 98. But I ain't in this for top scores. I am in this to PASS. And I put in JUST enough time to do well enough to hedge what I don't know with what I do know.

Worked so far…..hope I keep the streak up….

/knocks on wood

(BTW, it doesn't hurt at all to be superstitious…..

😉

FAR 88
REG 89
AUD 89
BEC 86
DONE!!!
Using Becker Review and Becker Final Review, and Ninja Audio for BEC

[lateralus ag]

“Also..how important are the ancillary materials for independent review”

I don't know about BEC, I haven't taken it yet, but the material for AUD, FAR, and REG was not worth going over for me. I didn't look at any of the “extra” stuff. I had enough trouble mastering the “important” stuff personally…..

I figure those questions are what I like to call “pot” questions.

Unfortunately it took me upwards of ten years to graduate college, off and on. I got REALLY good at taking multiple choice tests. Really good. My experience, which is completely unscientific and is based on my seriously questionable sanity and ability to cope with reality, is this.

Multiple choice tests are actually made up of percentages. Especially the the types of standardized tests that we are taking for the CPA. All the questions go through a rigorous statistical process. The ones that “meet the criteria”, statistically speaking, make it to the test bank. Long explanation short, its a numbers game. We all know that there are two answers that you are supposed to choose between. The majority of the questions will be taken from the “important” material, with the rest being “test data” questions and ancillary items.

My thought process when taking these test is to go with the numbers. I can narrow down almost all of the MCQ's to two answers, as can the rest of you. If you KNOW the material, not memorize the material, but KNOW the material, you are automatically going to increase your chances of “guessing” right between the two “close” answers. The more you know of the “important” material, the better you will “guess” when you need to.

So, taking the test comes down to a game of numbers. What does that boil down to? Time studying. The more time you spend studying the material that will be on the test, the better you do. Sounds obvious, but go with me here. The majority of the questions WON'T come from the ancillary material. Therefore, if you study the ancillary material, you might be learning information to get ONE or TWO questions right, but you are foregoing the time you could have spent nailing down the information that will be contained in 10 or 15 questions.

That's a long way of saying, the time you spend on the ancillary material is MUCH better spent on the “important” material.

Sure, I don't score in the high 90s on my tests. But then again, I am playing the numbers. Maybe if I took and extra week per exam to study the ancillary material I would have gotten that 97 or 98. But I ain't in this for top scores. I am in this to PASS. And I put in JUST enough time to do well enough to hedge what I don't know with what I do know.

Worked so far…..hope I keep the streak up….

/knocks on wood

(BTW, it doesn't hurt at all to be superstitious…..

😉

FAR 88
REG 89
AUD 89
BEC 86
DONE!!!
Using Becker Review and Becker Final Review, and Ninja Audio for BEC

[twest]

I'm starting to study BEC again for take two and I have an economics question. I've been told that a change in price means supply increases which is up and down the same curve. Anything other than price is what will cause a “shift” in the supply/demand curve which means the line moves. In the Ninja Notes, under the Shift sections, it says “Supply increases at each price point”. Isn't that the same thing as moving up and down the same curve? Can Jeff or someone help me understand the difference?

Thanks,

Tammy

FAR - 63, 79
AUD - 83!
REG - 37, 79
BEC - 70, 79

[twest]

I'm starting to study BEC again for take two and I have an economics question. I've been told that a change in price means supply increases which is up and down the same curve. Anything other than price is what will cause a “shift” in the supply/demand curve which means the line moves. In the Ninja Notes, under the Shift sections, it says “Supply increases at each price point”. Isn't that the same thing as moving up and down the same curve? Can Jeff or someone help me understand the difference?

Thanks,

Tammy

FAR - 63, 79
AUD - 83!
REG - 37, 79
BEC - 70, 79

[ICanHasCPA]

That sounds right. A change in price results in a change in quantity demanded or quantity supplied depending on the curve.

[ICanHasCPA]

That sounds right. A change in price results in a change in quantity demanded or quantity supplied depending on the curve.

[Anonymous]

Should I bother with AVC, ATC, AFC, MC, and their correspnoding graphs? I hated studying that in my econ class.

[Anonymous]

Should I bother with AVC, ATC, AFC, MC, and their correspnoding graphs? I hated studying that in my econ class.

[nailcpa]

Is it me or is B1(becker chapter 1) really very difficult to understand and remember?? Im having such a hard time with the calculations and everything ugggh so frustrating…Its like if they phrase the question little differently i just wont know how to calculate stuff…memorizing is definitely not the way to go …it seems like I have to understand everything 🙁

AUD- Failed 3 times, 81 5/30/12
REG- X3:(
BEC-X1 🙁
FAR-

Finally passed my first exam after 2+ years of agony! I refuse to give up! Bring it on!

[nailcpa]

Is it me or is B1(becker chapter 1) really very difficult to understand and remember?? Im having such a hard time with the calculations and everything ugggh so frustrating…Its like if they phrase the question little differently i just wont know how to calculate stuff…memorizing is definitely not the way to go …it seems like I have to understand everything 🙁

AUD- Failed 3 times, 81 5/30/12
REG- X3:(
BEC-X1 🙁
FAR-

Finally passed my first exam after 2+ years of agony! I refuse to give up! Bring it on!

[HSP_CPA]

@74Really:

I studied for BEC the way I studied for the tougher exams and I barely passed. I used only the Becker Materials. BEC is supposed to be the easiest, but it was my worst score. The best advice I can give on this is to use both Becker and Wiley to study for BEC. While the material is relatively easy, there is a lot of material that it covers and Becker does not include all of those topics. I was stumped on the exam on a lot of topics that were not included in Becker.

REG- 87
AUD- 86
BEC- 76
FAR- 83

[HSP_CPA]

@74Really:

I studied for BEC the way I studied for the tougher exams and I barely passed. I used only the Becker Materials. BEC is supposed to be the easiest, but it was my worst score. The best advice I can give on this is to use both Becker and Wiley to study for BEC. While the material is relatively easy, there is a lot of material that it covers and Becker does not include all of those topics. I was stumped on the exam on a lot of topics that were not included in Becker.

REG- 87
AUD- 86
BEC- 76
FAR- 83

[mgoloubenko]

Finished B5 in a day today, reminds me why I love Econ. I might get the Wiley book to supplement since I'll be done with B6 later this week but don't take the exam until July 13th.

FAR 4/9/12- PASSED
BEC 7/13/12- PASSED
AUD 8/16/12- Ughhh 71, Rematch: 90!!!
REG-12/6/12 PASSED

USC MAcc- Fight on!

They say good things come to those who wait, but only those things that are left by those who hustle.

[mgoloubenko]

Finished B5 in a day today, reminds me why I love Econ. I might get the Wiley book to supplement since I'll be done with B6 later this week but don't take the exam until July 13th.

FAR 4/9/12- PASSED
BEC 7/13/12- PASSED
AUD 8/16/12- Ughhh 71, Rematch: 90!!!
REG-12/6/12 PASSED

USC MAcc- Fight on!

They say good things come to those who wait, but only those things that are left by those who hustle.

[Author]

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