[jeff]

This is for people taking their exams in the January/February 2010 testing window.

Recommended prep time for BEC is 4 weeks @ 20 hours a week.

CPA Exam Score Release Predictions:

https://www.another71.com/cpa-exam-scores-results-january-february-2010-wave-1.html

[thenarvin]

I just gone done with the test today, too. I was kind of nervous because I finished it in a little over an hour and a half. Hopefully that means I was prepared rather than too hasty. Overall, I felt that the questions were fair (and quite a bit easier than the material I had been practicing).

Now it's time for a dirty martini and some relaxation. Hopefully the AICPA will grade these exams quickly.

Good luck to everyone preparing and waiting for exams!

FAR - 97 AUD - 95 BEC - 92 REG - 04/07

[hopeful_cpa]

hey everyone, i hope everybody got the scores they wanted from when they took their last exam…

i am currently using Becker for BEC, i was wondering if i should also use Wiley or some other CPA review course as well for this exam?

if anybody has any insight i would really appreciate it.

thanks!

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Anonymous]

hopeful_cpa: I used Becker and supplemented it with questions from the Wiley book. I would like to say that paid off for me, but I won't know till next week (hopefully) when I get my score back.

My personal opnion; I thought the questions from Wiley were much different than Becker. Especially the IT problems. This is a good thing, though, as it gives you exposure to different kinds of questions.

[ZOEY]

I took BEC yesterday. I feel soooooo sad! I felt the first BEC exam I took last year was way easier than this one. I had very few calculations. It kind of sucked because I did not sleep cramming most of the formulas. I finished at least 10 min early. I cannot even bring myself to start studying for AUD. After passing REG 2 weeks ago, I felt I would do well this time around on BEC. Who on earth came up with the idea that BEC is the easiest exam? When I came out of REG exam I knew I had nailed it but this BEAST called BEC is pulling me down!!! My head is aching continously because I could not sleep thinking of how I messed BEC.

[JamaicanGirlCPA]

Zoey, I took BEC yesterday as well. My sentiments exactly. It is now official, BEC is NOT the easiest section.

That thing is the beast. This think is so unpredictable. I guess we will find out in a couple of weeks.

BEC - 79 11/06/10
AUD - 2011
REG - 2011
FIN - 2011

[kappa1032]

I wouldn't worry too much about it Zoey, I've heard of people thinking they bombed BEC but passing. It is definitely a tough test though. Let's hope we all pass!

FAR - 81
REG - 74, 87
AUD - 88
BEC - 88

Finally.

“The only guarantee for failure is to stop trying”
― John C. Maxwell

[kmath007]

COULD SOMEONE HELP ME UNDERSTAND HOW THEY CALCULATED THE COST OF PREFERRED STOCK IN QUESTION CPA-03931

CPA-03931

Williams, Inc. is interested in measuring its overall cost of capital and has gathered the following data.

Under the terms described below, the company can sell unlimited amounts of all instruments.

• Williams can raise cash by selling $1,000, 8 percent, 20-year bonds with annual interest payments.

In selling the issue, an average premium of $30 per bond would be received, and the firm must pay

floatation costs of $30 per bond. The after-tax cost of funds is estimated to be 4.8 percent.

• Williams can sell 8 percent preferred stock at par value, $105 per share. The cost of issuing and

selling the preferred stock is expected to be $5 per share.

• Williams’ common stock is currently selling for $100 per share. The firm expects to pay cash

dividends of $7 per share next year, and the dividends are expected to remain constant. The stock

will have to be underpriced by $3 per share, and floatation costs are expected to amount to $5 per

share.

• Williams expects to have available $100,000 of retained earnings in the coming year; once these

retained earnings are exhausted, the firm will use new common stock as the form of common stock

equity financing.

• Williams’ preferred capital structure is:

Long-term debt 30%

Preferred stock 20

Common stock 50

If Williams, Inc. needs a total of $200,000, the firm’s weighted-average cost of capital would be closest to:

a. 4.8 percent.

b. 6.6 percent.

c. 6.8 percent.

d. 7.3 percent.

[karojane]

kmath007-

I am going to try to explain this the best I can and I'm going from memory. And FYI, if you can understand this question with all the other ones with the same question stem, you have a very good understanding of this topic. These are very hard questions.

Here it goes:

So of the $200k, you will have split it b/w your capital components as such: LT Debt $60k, P-Stk $40k and C-Stk $100k. Now that you know your break up, examine the individual cost of each component. The key to this question is the C-stk b/c you have enough in R/E that you don't have to issue any new stock. Therefore, all that info about issuing the c-stk is irrelevant. They tell you the cost of debt is 4.8%, so .048* 30% = .0144. For the p-stk, (.08*105)/(105-100) = 8.4%, so .084* 20% = .0168. For your c-stk, the cost is given as 7%. Use 7% b/c it is constant (no growth) and you are not issuing any additional c-stk. So .07* 50% = .035. So if you total all your components individual costs on the pro rated basis, .0144+.0168+.035 = .0662. So that's closest to answer B.

[Anonymous]

Come'on score releases. I need a pick-me-up to get through FAR and passing BEC (my 3rd) would go a long way.

[Shawna]

Doesn't AICPA usually announce the releases around 11:00 EST?

FAR- 70, 76 REG - 91 BEC - 80 AUD - 74, 85

GA - NASBA state

[jeff]

No – typically AICPA releases around 5:30pm EST

-Jeff

[Anonymous]

Jeff – Have you heard anything regarding the scores being affected by the window extension? I heard at the time the releases wouldn't be affected but that seems a little odd.

Thanks

[kappa1032]

When people start receiving their scores can you let us know and also what state you're in?

FAR - 81
REG - 74, 87
AUD - 88
BEC - 88

Finally.

“The only guarantee for failure is to stop trying”
― John C. Maxwell

[hopetopass]

Jeff,

Are we on schedule for a BEC release today?

[magic_8_ball_did_i_pass]

oh my today reallyyyyy, i am soooooo not ready to know yet 🙂

IL - BECKER=============> DONE
REG - 80; FAR - 65,79; AUD - 53,78; BEC - 71,68, 75 (used becker and yaeger for 3rd BEC)Ethics 95

I'M GONNA CELEBRATE AND LIVE MY LIFE SAYING AYE OH BABY LETS GO!!!!!

[Author]

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