I took BEC on 2/28 and failed with a 72. It was the only test I have come out of absolutely sure I passed. I still don't now where I went wrong. My report said I was weak in Corporate Governance but tested at 92% in WTB. It also said I was weak in the SIMS but I used the Wiley/Yaeger format. I will look forward to seeing the first quarter pass rates because I believe they were way down with a lot of people on the bubble as I was.
cgcolorado, the only exam I took where I actually felt like I passed walking away was my first round with Audit but that ended with a 74. With BEC, I was weaker in most areas and comparable on WC. I think Cindy does a good job with going over the written communication part and how to set up the paragraphs. Since you're using Yaeger, did you go over those Audit chapters Cindy suggested for corp gov?
For BEC, I work myself backwards into some of the answers. I don't necessarily know the formula, but I can figure out the answer if that makes sense. My plan is to try and hammer down the formulas, so I can save time. For those who have taken BEC, how do the questions in Wiley compare? Longer, shorter? Most of Wiley's questions have a lot going on. In my experiences, the exam questions are more concise, and better written. Is it the same for BEC?
@NYC. I took BEC and missed by a few points. I feel the test questions were comparable to Wiley's. I'm using the Wiley books, WTC, and ninja notes & audio.
I'm tackling this again in April so I can get back to my regularly planned schedule of finishing this all in 2014. I did best in Econ and IT and lacked on Corp Gov & surprisingly the WC. I gave myself zero time of prep for the written part as I thought if you knew the topic and could write a structurally correct business memo, you would be ok.
I got some difficult calculation questions that were comparable to Wiley and some questions were more simplified than Wiley, which is pretty much how I felt about the other exams. In general, I feel that a lot of the Wiley questions are worded in a more complicated manner than the actual exam questions which always throws me off.
NYC, could you share how you work backwards in getting your answers, without knowing the formulas. Like maybe provide a sample question and how you figure it out? That would be helpful!
It's not really helpful because it's time consuming. I have to learn the formulas. I'll post a question, but I know i'm doing it wrong because I get to the correct answer, but I don't do it the way they want. So i'm taking 2-3 minutes for some questions, which is not the right way to do it.
hey BEC study group. i have a HW prob that i dont understand adn was wondering if you all could chime in and help me figure it out.
“Kode Co. manufactures a major product that gives rise to a by-product called May. May's only separable cost is a $1 selling cost when a unit is sold for $4. Kode accounts for May's sales by deducting the $3 net amount from the cost of goods sold of the major product. There are no inventories. If Kode were to change its method of accounting for May from a by-product to a joint product, what would be the effect on Kode's overall gross margin?”
the answer is “Gross margin increases by $1 for each unit of May sold”
why is it $1 increase in GM instead of no net effect?
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
It's a trick question. It's a selling cost, so it's a period cost. It's part of G&A, not cogs. So gross margin goes up $1, but net income stays the same.
How long to study for the BEC exam? I will finish my videos this week but I still have the formulas to memorize and mcq's to go over. Is a month enough time?
@Ben- I think a month is enough time to study for BEC- assuming you spend a good amount of time studying each week. Roger CPA Review has a three week study plan @ 3 hours/day during the week and 6/day on the weekends.
Cost of goods completed and transfered includes the beginning work in process, and the goods completed during the period. You have to subtract out the goods that were completed in work in process at the beginning of the period to get the equivalent units.
Cost accounting is not fun. Is the general consensus that cost accounting is the hardest part of BEC? I hope so. Im finishing up chap 1 in Becker and the cost accounting MCQ just take forever to get through.
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