[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

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

[scarletknight91]

good question, i plan on writing an opening (“To: XXX From: YYY The purpose of this written communication is……”) and I plan on concluding it (“Thank you for your time and please do not hesitate to reach out to me to discuss this matter further/ I look forward to discussing this matter with you in the future. —- Regards, YYY”)

And then filling the body with whatever i can think of saying without sounding off topic or irrelevant. hope that helps

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[MrsBing]

Moving on to NINJA MCQs today for the last week of studying. During Becker progress tests I keep seeing the same questions that I just saw the day before.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

I am so scared of the writing portion. I'd take SIMs any day.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[scarletknight91]

Elan Corporation is considering borrowing $100,000 from a bank for one year at a stated interest rate of 9 percent. What is the effective interest rate to Elan if this borrowing is in the form of a discounted note?

a. 9.89 percent.

b. 10.00 percent.

c. 9.81 percent.

d. 8.10 percent.

Explanation

Choice “a” is correct. 9.89 percent effective interest rate on discounted note, calculated as follows:

Can someone explain why you wouldnt discount the 100000 by dividing 1.09 into 100000? the answer assumes that you take 9% of 100000 and use that to find the rate. i dont understand why you wouldn't discount the 100000 by 1.09 to find a present value amount…

BECKER QUESTION NUMBER: CPA-03504

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[scarletknight91]

also did anyone else sort of struggle with some of the b6 questions? even the second time around im finding myself struggling getting through some of these -__-

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[taxman89]

Since it is a discounted note you dont “pay” interest you just borrow the amount less the interest. so instead of borrowing 100k they are borrowing 91K (100K x 9%) and paying back 100k. so their effective tax rate is 9k/91k = 9.89%

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[taxman89]

How are you guys preparing for the written communications? and how much time are you going to try to leave for them?

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[scarletknight91]

usually takes me about 15 minutes each, 45 min total. ideally leave myself an hour left to do the wc's which means itll avg out to about 40 minutes to do 24 mc which i think is plenty

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[scarletknight91]

i prepared by watching the becker lecture and trying out like 2-3 of them to time myself and get a feel for it.. ill probably do another set tomorrow since ive already taken the 2nd practice exam

anyone else take becker's practice exam two?

i got the following:

20/24

20/24

15/24

i thought the 2nd exam was very difficult compared to far, reg, and aud final exams

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[MrsBing]

I hope I don't get anything on by product costs.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[Jsingh23]

@scarletknight91

I took the 2nd practice and exam and it was nuts. I think I got 15,18, and 17. Horrible scores. I remember reading someone saying something about the 2nd Becker practice exam being ridiculously hard.

AUDIT-89
BEC-83
REG-78
FAR- April 19

[scarletknight91]

yea i spent the last hour perusing through the various bec threads on this site to see how others fared on the practice exam and also to find good mc questions/topics to review and its a consensus that practice exam 2 is veryyy difficult compared to the first exam (which i havent taken yet)

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[illoho1]

Can someone please help me with this question from B6!!! I cannot for the life of me, figure out where they got the $27,000 from. Thanks!

A company currently has 1,000 shares of common stock outstanding with zero debt. It has the choice of raising an additional $100,000 by issuing 9% long-term debt, or issuing 500 shares of common stock. The company has a 40% tax rate. What level of earnings before interest and taxes (EBIT) would result in the same earnings per share (EPS) for the two financing options?

a.

An EBIT of $10,800 would result in EPS of $7.92 for both.

b.

An EBIT of $27,000 would result in EPS of $7.20 for both.

c.

An EBIT of $18,000 would result in EPS of $7.20 for both.

d.

An EBIT of $27,000 would result in EPS of $10.80 for both.

Explanation

Choice “d” is correct. Earnings before interest and taxes (EBIT) of $27,000 would produce identical EPS amounts of $10.80 under both the equity and debt financing assumptions provided in the fact pattern.

BEC- 75
AUD- 80
REG- 8/8

[illoho1]

Also, I just took a progress test with 100 questions, How do these scores compare to the actual test considering the fact that a lot of the questions were from the homework? Feed back appreciated!! Exam on friday!!

B1: Corporate Governance and Operations Management 90%

B4: Information Systems and Communications 93%

B2: Strategic Planning 93%

B3: Financial Management 85%

B5: Economic Concepts 86%

B6: Process and Project Management, Globalization, Financial Risk Management, Decisions, and Valuation 100%

BEC- 75
AUD- 80
REG- 8/8

[TNCPA101]

Yeah, I dropped about 15% from the 1st practice exam to the 2nd.

[Author]

Replies