[jeff]

Guess I’ll kick it off!

Scheduled to take BEC on 4/19. It’s my last test so I’m putting as much study time in as I can. If I pass I get promoted, if I don’t pass I don’t get promoted, so the pressure is on!!

Good luck to everyone taking BEC this quarter!

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

[Anonymous]

Your IRR formula that Becker gives you is only the find the PV factor that you would use to find your actual internal rate of return. If you already know this, quit reading, but your IRR formula finds you the PV factor. You than go to the PV tables and find the closest number to the calculated factor and interpolate your actual internal rate (beyond exam scope). You have to remember that as you have an increased PV Factor your IRR decreases. So if you have a positive net present value, your discount rate would be less than your IRR that would discount your cash flows to equal 0.

Also, be sure you know how the formulas to calculate PV factors, I don't know if they are even in the Becker book so I just found them off of Investopia.

[ORcpaHOPEFUL]

Per Roger Review and Ninja Notes:

NPV is Positive when: benefits>costs and IRR>discount rate (also called the minimum required rate of return.)

NPV is Negative when: costs>benefits and IRR<discount rate

NPV is Zero when: costs=benefits and IRR=discount rate.

The difference between NPV and IRR is that NPV uses the minimum required rate of return where as IRR uses the rate of return EARNED by the investment. They are also different calculations… NPV= PV Future Cash Flows – Investment and IRR= Investment / After Tax Annual Cash Flows. Hope that covers it all. AND it helped me make sure I understood it too 🙂

FAR: PASSED!! 64, 68, 79 on 2/27/13!
AUD: PASSED!! 73, 93 on 4/5/13!!!
BEC: PASSED!! 75 (phew) on 5/24/13!
REG: PASSED!!! 77 on 8/7/13 I AM DONE!!!!!

Experience: got it!
Ethics Exam: PASSED on first try (what a waste of money)

[Jade CPA-to-be]

guys, anyone knowsfor BEC exam if i get weaker performances on the sims, do i get partial points or zero?

just worried. exam is next tuesday and i had a dream yesterday night that i don't pass BEC because i get weaker on WC.

CPA Licensed in California- Class of 2013

[ORcpaHOPEFUL]

@Jade CPA-to-be: You get partial credit on WC just like on all SIMs on the other sections. Good luck 🙂

FAR: PASSED!! 64, 68, 79 on 2/27/13!
AUD: PASSED!! 73, 93 on 4/5/13!!!
BEC: PASSED!! 75 (phew) on 5/24/13!
REG: PASSED!!! 77 on 8/7/13 I AM DONE!!!!!

Experience: got it!
Ethics Exam: PASSED on first try (what a waste of money)

[Jade CPA-to-be]

orcpahopeful,

thanks, you are taking exam tomorrow? ARE YOU READY?

best luck to you.

CPA Licensed in California- Class of 2013

[ORcpaHOPEFUL]

@ Jade CPA-to-be – I am taking it tomorrow! I sure hope I'm ready 🙂 thanks for the luck! I'll let everyone know how it went after. I've heard good and bad things about this exam so we'll see how it goes!

FAR: PASSED!! 64, 68, 79 on 2/27/13!
AUD: PASSED!! 73, 93 on 4/5/13!!!
BEC: PASSED!! 75 (phew) on 5/24/13!
REG: PASSED!!! 77 on 8/7/13 I AM DONE!!!!!

Experience: got it!
Ethics Exam: PASSED on first try (what a waste of money)

[Anonymous]

Good Luck tomorrow! You've got this. Just don't be afraid of BEC. Its not easy but its not terrible. Leave ample time for WC. I left myself an hour and it took me the whole time. It sure was a good thing I've taken other sections prior to BEC because my WC's were very vague and were random topics.

At this point I wish I was studying… I'm packing to move and I might have gotten 2 boxes packed all day.

[TaRenee]

@ORcpaHOPEFUL

Good luck tomorrow! Let us all know how it went!

REG [75] 02.27.13(1)
AUD [82] 04.15.13(1)
BEC [79] 05.29.13(1)
FAR [62] 08.26.13(1) [76] 02.24.14(2) - God is able!!! 🙂

Licensed NC CPA

[ORcpaHOPEFUL]

Thank you everyone!!! I will report back… hopefully with lots of positive thoughts 🙂

My test isn't until 1pm PST so it won't be until later tomorrow night after the test, some errand running… and a nice pizza/wine combo for dinner to celebrate a short break of no studying (until REG studies begin June 3rd!)

FAR: PASSED!! 64, 68, 79 on 2/27/13!
AUD: PASSED!! 73, 93 on 4/5/13!!!
BEC: PASSED!! 75 (phew) on 5/24/13!
REG: PASSED!!! 77 on 8/7/13 I AM DONE!!!!!

Experience: got it!
Ethics Exam: PASSED on first try (what a waste of money)

[MintsRGood]

@Shanta/TaRenee There are quite a few others that have changed their accounts up for the same reason! Sounds like you are in good shape!!!! Hit it hard this weekend and tie up those loose ends girl!!! We will kill it next week!!!!!

@bcjasper Congrats on your FAR score and I have complete confidence that you will see a passing score on the 7th!!!! Enjoy the weekend and good luck on the move!

@Casey & @ORcpaHOPEFUL good luck tomorrow!!!!!!!!!!!!!!!!!!!! 🙂

REG: 75 DONE 🙂
AUD: 61, 71, 68, 92 DONE 🙂
BEC: 76 DONE 🙂
FAR: 72, 74, 79 DONE 🙂
Licensed Michigan CPA 🙂
-Some people dream of success...others wake up and work hard for it!!!
-The cowards never start and the weak die along the way!
-You better work, b***h!
-Only those who dare to fail greatly can ever achieve greatly.-JFK

[mb23]

@ORcpaHOPEFUL – Good luck today! I just took it at the beginning of the week and it was all over the place. I agree with @bcjasper09's assessment that it was ambiguous and requires critical thinking. The material isn't nearly as cohesive as FAR (the only other section I've taken so far), but it's definitely doable. I just did as many MCQs as I could the day before, and the morning of the test I just briefly reviewed the areas I had struggled with and/or hadn't looked over as recently.

[sarahem]

Anyone having trouble getting into wiley this morning? I've been trying for the last 30 minutes and keep getting a unexpected error occurred message.

AUD - 4/3/13-60 Retake 7/2/13-72 Retake 11/13/13-74 Retake 5/14/14
BEC - 5/30/13-76
FAR - 2/14/14-79
REG - 4/4/14

[Anonymous]

Selected costs associated with a product are as follows; total standard hours for units produce $5,000, total actual direct labor cost $ 111,625, actual per hour labor rare $23.5 and standard per hour labor rate $24.00 What amount is the total direct labor price variance? the answer is $2,375 favorable…. Not sure why? Can some one help? I'm thinking $24-23.5*500=$2500 favorable

[Anonymous]

Taking BEC next Friday. Any advice for the final week other than the normal do a ton of MCQs. I just got scores back on Audit and I passed (84). BEC just seems to have such a wide variety of testable material I don't know where to focus. Thanks

[WhenISay]

“Selected costs associated with a product are as follows; total standard hours for units produce $5,000, total actual direct labor cost $ 111,625, actual per hour labor rare $23.5 and standard per hour labor rate $24.00 What amount is the total direct labor price variance? the answer is $2,375 favorable…. Not sure why? Can some one help? I'm thinking $24-23.5*500=$2500 favorable”

Well Direct Labor Price Variance = (Actual Rate – Standard Rate) x Actual Labor Hours

Actual Rate= 23.50 (given)

Standard Rate= 24.00 (given)

Actual Hours= Actual Total Costs / Actual Rate = 111,625 / 23.50 = 4,750 Labor Hours

Therefore (23.50 – 24.00) x 4,750 = $2,375 Favorable

FAR: 87 - 2/19/13
REG: 91 - 4/2/13
AUD: 99 - 5/2/13
BEC: 87 - 5/30/13

[Author]

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