[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

[Minimorty]

@iPass – For all four exams I took Final #1 about a week prior to my test date and Final #2 about 2 days before my test date. The second one just served as a refresher for me. I was not concerned about how I scored, just about going over the content again. I'm not sure the final exams are all that helpful, to be honest. As long as you are doing multiple choice questions as part of your study and review process, you'll be fine with or without the final exams. For BEC, I didnt even attempt the writing portion for the final exams. I cruised through the writing portion on the actual exam today.

[iPass]

thanks mini! I also thought about the final exam as more of a review tool rather than assessment of my knowledge. And hey, there are 144 fresh unseen MC questions (if I'm not mistaken, they must be new and not from HW questions otherwise those final exams are completely useless). I mostly focus on practicing multiple choice questions. However, I probably will give a writing portion a try just because English is not my first language and in general it takes a bit longer for me to put my thought together (although I don't think I'm totally hopeless here :).

thanks again for your input!

BEC - 10/12/2011 - 78
AUD - 11/23/2011 - 84
FAR - 02/22/2012 - 76 (I'll take it!)
REG - 08/31/2012

“Win as if you were used to it, lose as if you enjoyed it for a change.”
-Ralph Waldo Emerson

[iPass]

thanks mini! I also thought about the final exam as more of a review tool rather than assessment of my knowledge. And hey, there are 144 fresh unseen MC questions (if I'm not mistaken, they must be new and not from HW questions otherwise those final exams are completely useless). I mostly focus on practicing multiple choice questions. However, I probably will give a writing portion a try just because English is not my first language and in general it takes a bit longer for me to put my thought together (although I don't think I'm totally hopeless here :).

thanks again for your input!

BEC - 10/12/2011 - 78
AUD - 11/23/2011 - 84
FAR - 02/22/2012 - 76 (I'll take it!)
REG - 08/31/2012

“Win as if you were used to it, lose as if you enjoyed it for a change.”
-Ralph Waldo Emerson

[momo5]

@ iPass, thanks.

By the way, like in the other sections, out of the 3 essays, will one not be counted towards the BEC score?

Thanks.

[momo5]

@ iPass, thanks.

By the way, like in the other sections, out of the 3 essays, will one not be counted towards the BEC score?

Thanks.

[Minimorty]

@momo – Correct. One of the three is not counted.

[Minimorty]

@momo – Correct. One of the three is not counted.

[yankeeaccountant]

helloooooo mini??

I hope you are out celebrating ! Congrats on finishing BEC. I have no doubt that we will all be congratulating you in early November.

Me, (sob, sob) I am reviewing transactions in property with the dapper, Phil Yaeger. OH JOY!

[yankeeaccountant]

helloooooo mini??

I hope you are out celebrating ! Congrats on finishing BEC. I have no doubt that we will all be congratulating you in early November.

Me, (sob, sob) I am reviewing transactions in property with the dapper, Phil Yaeger. OH JOY!

[Minimorty]

yankeeeeee – Thank you. It feels good to be done studying. I really hope I passed. We'll have to see.

I want to celebrate will all of you this quarter. Just keep pushing through. The end is near. Lol.

[Minimorty]

yankeeeeee – Thank you. It feels good to be done studying. I really hope I passed. We'll have to see.

I want to celebrate will all of you this quarter. Just keep pushing through. The end is near. Lol.

[happy75]

@WTFuller & Fashionista,

Shouldn't the variance be:

Actual – Budget = Positive (unfavorable), Negative (favorable)

not the other way around??

[happy75]

@WTFuller & Fashionista,

Shouldn't the variance be:

Actual – Budget = Positive (unfavorable), Negative (favorable)

not the other way around??

[iPass]

@happy

What WTFuller said is:

Budget – Actual = Negative Balance (unfavorable), Positive Balance (Favorable)

And you've got exactly the same equation:

Actual – Budget = Positive (unfavorable), Negative (favorable)

it's just flipped over, but both of them are correct. In order not to get confused with positive/negative/favorable/unfavorable thing, try thinking logically rather than memorizing the formula. If your actual overhead is greater than what the budget for overhead was, it means you spent more money than planned, it is an unfavorable situation. On the other hand, if your budget was greater than the actual amount spent, it means you saved some money, which is a good=favorable situation.

Now you can simply calculated the difference between actual and budgeted amounts and don't worry about it being positive or negative amount. IMO, it is much easier to understand and solve the problem this way anytime you are dealing with variances. Hope it makes sense.

BEC - 10/12/2011 - 78
AUD - 11/23/2011 - 84
FAR - 02/22/2012 - 76 (I'll take it!)
REG - 08/31/2012

“Win as if you were used to it, lose as if you enjoyed it for a change.”
-Ralph Waldo Emerson

[iPass]

@happy

What WTFuller said is:

Budget – Actual = Negative Balance (unfavorable), Positive Balance (Favorable)

And you've got exactly the same equation:

Actual – Budget = Positive (unfavorable), Negative (favorable)

it's just flipped over, but both of them are correct. In order not to get confused with positive/negative/favorable/unfavorable thing, try thinking logically rather than memorizing the formula. If your actual overhead is greater than what the budget for overhead was, it means you spent more money than planned, it is an unfavorable situation. On the other hand, if your budget was greater than the actual amount spent, it means you saved some money, which is a good=favorable situation.

Now you can simply calculated the difference between actual and budgeted amounts and don't worry about it being positive or negative amount. IMO, it is much easier to understand and solve the problem this way anytime you are dealing with variances. Hope it makes sense.

BEC - 10/12/2011 - 78
AUD - 11/23/2011 - 84
FAR - 02/22/2012 - 76 (I'll take it!)
REG - 08/31/2012

“Win as if you were used to it, lose as if you enjoyed it for a change.”
-Ralph Waldo Emerson

[Author]

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