[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

[musicamor]

@RedMer…here's my response to a fellow forum member who contacted me directly concerning the WC. Read from the bottom up.

Hi Somika-

I do not mind giving you feedback on the written communication.

For your intro, I would not refer to the name of the corporation nor the position in the third person; this is given in the “to/from” lines of the memo upon entering the testlet. Instead, I would start it like this: “You have asked me to provide you with a detailed description of the advantages and disadvantages of responsibility accounting; accordingly, this memorandum serves to….and summarize what you will cover in the next paragraphs.

You do well in starting your body paragraph: you are correct in first describing what a responsibility accounting system is. This shows that you understand what is being asked. After, you want to specifically address the advantages AND disadvantages in order to be consistent with what you propose in your intro paragraph. In reading your body paragraph, it is not clear to me what the disadvantages of a responsibility accounting system are. If this paragraph gets too long (more than 3 sentences), you want to break it up into two paragraphs. It is okay to have 4 paragraphs.

For your conclusion paragraph, you want to refrain from taking on the identity of a firm since the written communications are directed to you as a staff person. The graders look at this as not following instructions. You can start the conclusion by saying something like, “In conclusion,” or, “Responsibility accounting systems can be summarized…” The very last sentence in your conclusion paragraph should contain the following: “Should you have any additional questions, please do not hesitate to contact me directly.”

I hope this helps!

-Jacob

---

Date: Sun, 1 Jul 2012 20:18:57 -0500

Subject: Re: Musicamor from Another71 CPA exam forum

From: somikar@gmail.com

To: musicamor02@msn.com

Hi Jacob ,

I hope your study is going well. Can you please do me a favor. Would it be possible to take few minutes and provide your feedback on my written communication. I appreciate all your help and do let me know if I can be any help.

Here is my written communication on responsibility accounting form Wiley Book.

This memorandum is prepared for Winston Corporation in response to the request made by the controller of Winston Corporation. This memorandum describes the advantages of establishing responsibility accounting system.

A responsibility accounting system is used to evaluate the manager performance based on the performance of the department directly under his control. It also takes into account the cost, revenue and investment made by the department. A cost center where manager is only responsible for cost, a profit center is where manager has control on revenue as well as cost, where as investment center manager has control on cost, profit and investment. The advantage of responsibility accounting system is that manager is awarded based on the control he or she has not the outside influence. Therefore responsibility accounting system has major advantage over typical budgeting and reporting accounting system where managers need to perform based on both internal and external factors in which they do not have control.

My firm has significant experience in the area of responsibility accounting system and I would be glad to work with Winston Corporation. Feel free to contact me if you have any further questions.

Thanks,

Somika

Texas CPA - licensed in 2012!!!

[musicamor]

@cymbal2K…the question is asking for the “total CONTRIBUTION MARGIN” for the month under variable costing. So, we know that contribution margin is the difference between Sales and Variable costs, regardless of costing method. In this case, the contribution margin is $40 ($80 – ($21+10+3+6)) and the unit sales for the period were 4,500. The contribution margin calculation always remains the same: Sls – VC = CM; it does not matter whether we're using the variable cost method or absorption costing. You know that under absorption costing, we defer the portion overhead based on the unsold units (or overproduced) at the end of the period; however, this does not apply in the question. Does that help?

Texas CPA - licensed in 2012!!!

[musicamor]

@cymbal2K…the question is asking for the “total CONTRIBUTION MARGIN” for the month under variable costing. So, we know that contribution margin is the difference between Sales and Variable costs, regardless of costing method. In this case, the contribution margin is $40 ($80 – ($21+10+3+6)) and the unit sales for the period were 4,500. The contribution margin calculation always remains the same: Sls – VC = CM; it does not matter whether we're using the variable cost method or absorption costing. You know that under absorption costing, we defer the portion overhead based on the unsold units (or overproduced) at the end of the period; however, this does not apply in the question. Does that help?

Texas CPA - licensed in 2012!!!

[Anonymous]

Do you guys have any tips on how to deal with all the formulas and ratios? What should I memorize, what shouldn't I memorize? Any tips would be greatly appreciated.

[Anonymous]

Do you guys have any tips on how to deal with all the formulas and ratios? What should I memorize, what shouldn't I memorize? Any tips would be greatly appreciated.

[wantCPA]

The Bread Company is planning to purchase a new machine, which it will be depreciate on a straight-line basis over a 10-year period. A full year’s depreciation will be taken in the year of acquisition. The machine is expected to produce cash flow from operations, net of income taxes, of $3,000 in each of the 10 years. The accounting (book value) rate of return is expected to be 10% on the initial increase in required investment. The cost of the new machine will be

a) $30,000 b) 12,000 c) 15,000 d) $13,500

The answer is c). Can someone explain to me why?

Thanks! 🙂

BEC 5.31
FAR 86
REG 84
AUD 78

[wantCPA]

The Bread Company is planning to purchase a new machine, which it will be depreciate on a straight-line basis over a 10-year period. A full year’s depreciation will be taken in the year of acquisition. The machine is expected to produce cash flow from operations, net of income taxes, of $3,000 in each of the 10 years. The accounting (book value) rate of return is expected to be 10% on the initial increase in required investment. The cost of the new machine will be

a) $30,000 b) 12,000 c) 15,000 d) $13,500

The answer is c). Can someone explain to me why?

Thanks! 🙂

BEC 5.31
FAR 86
REG 84
AUD 78

[HustlinHustlin]

Hello BEC'ers. Just feeling a bit overwhelmed and looking for some support. I really thought BEC would be easier to study for, but I am barely on Decision Analysis and already feel overwhelmed (that's the first part of B2 for you Beckerers).

I feel like Becker teaches you one way per the book and lecture, like it should be bread and butter and then you go onto the MCQ and it's a whole different story. I understand that it's better to prepare with ridiculously tedious and hard/poorly worded questions, but when do you just call it quits for the sake of covering ground. Rather than skimming the top of everything, I feel like I am drowing in one part, barely surfacing and drowning in the next.

I woke up almost 2 hours ago and got 20 questions covered this morning (with around a 50% accuracy). I mean, 10 questions an hour….really?

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[HustlinHustlin]

Hello BEC'ers. Just feeling a bit overwhelmed and looking for some support. I really thought BEC would be easier to study for, but I am barely on Decision Analysis and already feel overwhelmed (that's the first part of B2 for you Beckerers).

I feel like Becker teaches you one way per the book and lecture, like it should be bread and butter and then you go onto the MCQ and it's a whole different story. I understand that it's better to prepare with ridiculously tedious and hard/poorly worded questions, but when do you just call it quits for the sake of covering ground. Rather than skimming the top of everything, I feel like I am drowing in one part, barely surfacing and drowning in the next.

I woke up almost 2 hours ago and got 20 questions covered this morning (with around a 50% accuracy). I mean, 10 questions an hour….really?

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[Path To CPA]

@ HustlinHustlin

Hang in there! If you are planning on taking the exam in this testing window, I'll suggest that you find a way to move quicker with the Becker material and cover all chapters at least 2 to 3 weeks before your exam. HWs, progress tests and Final exams are what will help you pass the exam. You can perhaps listen to the lectures and do a sample of 15 to 20 HW questions per section and move to the next chapter. After covering all chapters once, when you start redoing the homework, many concepts are going to come back to you. That's what I'm currently doing and I'll try my best to finish chap4 today and start chap5 tomorrow. Don't waste too much time on chap1 & chap2 because Becker complicated them with some complex HW problems. Try just to understand the concepts and big picture behind them.

Candidates have different ways of learning and if my method is working for you, then use it otherwise, find the way to learn efficiently and effectively at your own pace. I work full time and the only way for me to make it is to move fast with the chapters and review the questions 2 to 3 weeks before the exam.

Strangely, I'm very amazed when some candidates talk about taking notes and making their own flashcards because I never took a single note for any part I studied for to date. Maybe that's why I failed twice in the past : ). I absorb everything like a sponge and try to hold on to it until exam day lol.

Is there anyone out there who also does not take notes when studying? Am I the only one doing so?

REG: 68, 75
AUD: 80
BEC: 77
FAR: 24, 67, 69, 72, 80 Thank you Lord!!!!

Finally Done! Perseverance is the key to success

NYS Licensed CPA - 2013

[Path To CPA]

@ HustlinHustlin

Hang in there! If you are planning on taking the exam in this testing window, I'll suggest that you find a way to move quicker with the Becker material and cover all chapters at least 2 to 3 weeks before your exam. HWs, progress tests and Final exams are what will help you pass the exam. You can perhaps listen to the lectures and do a sample of 15 to 20 HW questions per section and move to the next chapter. After covering all chapters once, when you start redoing the homework, many concepts are going to come back to you. That's what I'm currently doing and I'll try my best to finish chap4 today and start chap5 tomorrow. Don't waste too much time on chap1 & chap2 because Becker complicated them with some complex HW problems. Try just to understand the concepts and big picture behind them.

Candidates have different ways of learning and if my method is working for you, then use it otherwise, find the way to learn efficiently and effectively at your own pace. I work full time and the only way for me to make it is to move fast with the chapters and review the questions 2 to 3 weeks before the exam.

Strangely, I'm very amazed when some candidates talk about taking notes and making their own flashcards because I never took a single note for any part I studied for to date. Maybe that's why I failed twice in the past : ). I absorb everything like a sponge and try to hold on to it until exam day lol.

Is there anyone out there who also does not take notes when studying? Am I the only one doing so?

REG: 68, 75
AUD: 80
BEC: 77
FAR: 24, 67, 69, 72, 80 Thank you Lord!!!!

Finally Done! Perseverance is the key to success

NYS Licensed CPA - 2013

[nfs480]

I don't take notes or use flashcards either, so far so good. Super nervous about REG though and i've been super lazy so far with BEC, i've only watched the Becker lectures for all six chapters and am about to start the homework for the first time. Hopefully I can pull this off!

FAR 93
AUD 89
REG 81
BEC 87
Ethics 100

Becker 2012 Self-Study

[nfs480]

I don't take notes or use flashcards either, so far so good. Super nervous about REG though and i've been super lazy so far with BEC, i've only watched the Becker lectures for all six chapters and am about to start the homework for the first time. Hopefully I can pull this off!

FAR 93
AUD 89
REG 81
BEC 87
Ethics 100

Becker 2012 Self-Study

[momof4]

krystal83

Is that all the information? I don't get that. Cleary an investment that generates 30,000 in cash flow over 10 years and has an initial cost of only 15,000 is more than a 10% return no matter how you slice it. Even if you ignore the time value of money as the ARR does.

Where did you find this question? Is it possible to ask the provider if it is a flawed question?

BEC 84
FAR 80
AUD 85
REG 78

[momof4]

krystal83

Is that all the information? I don't get that. Cleary an investment that generates 30,000 in cash flow over 10 years and has an initial cost of only 15,000 is more than a 10% return no matter how you slice it. Even if you ignore the time value of money as the ARR does.

Where did you find this question? Is it possible to ask the provider if it is a flawed question?

BEC 84
FAR 80
AUD 85
REG 78

[Author]

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