[jeff]

Welcome to the Q2 2017 CPA Exam Study Group for BEC. 🙂

[ineedthiscpa45]

Will knowing all of these formulas seriously be necessary for the exam? It seems a bit…much

[Holly]

I'm assuming knowing the formulas will be necessary for the exam.

BEC - 79
REG - 85
AUD - 5/27/16

[Holly]

Olinto just cursed in the lecture! I had to rewind it to make sure I heard it lol!

BEC - 79
REG - 85
AUD - 5/27/16

[Tncincy]

Can we go back to formula's…..I think it would be wise to know the formula's but my question is how many and in which section of BEC? Currently working through Economics chapter. don't want to skip anything.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Anthony]

There quite a bit of formulas.
Here a list in which someone posted a while ago.
https://www.another71.com/cpa-exam-forum/topic/first-time-poster-bec-formulas/

[Tncincy]

Got'em thanks :-)..Hope study is going well for everybody.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[umitik]

@HRSexton Ninja does have sims, it's under “Custom + Sims”

I studied AUD using Roger + Ninja and felt like it wasn't enough. There were sections I didn't see in Roger materials 🙁

Anyone using any supplemental materials to practice simulations?

[Holly]

Yeah! I thought people were saying there were no sims. I was confused.

BEC - 79
REG - 85
AUD - 5/27/16

[Vinti]

Under customs+sims, it has written communication questions not the TBS, that we are suppose to be asked on the exam. Anyone else who is practicing tbs? From which source?

[soft serve]

Does anyone know the formula for account payable turnover ratio? Some say it is credit purchase/avg. account payable, some say it is CGS/avg. account payable. I'm confused.

[JMG]

I saw this formula in the list for safety stock:

• Safety Stock= (Max. Daily demand * Max. Lead time) – reorder point

There's an alternate formula that may be useful when determining reorder point:

Safety stock = (max lead time – average lead time) x daily usage*
*Daily usage = yearly purchases / working days per year

Reorder point = (daily usage x average lead time) + safety stock

[Theodore]

@softplay it is COGS/Ave. AP

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[Joe]

@softplay: the official formula is COGS/AVG A/P however, at times you might have a MCQ where the Fact Pattern does not give you Prior and Current A/P therefore you cannot calculate the Average and you should use just A/P.

One way to remember these formulas, whenever you see the word “turnover” the title of the formula goes in the Dominator as the average and then the numerator is the related part so for example, A/R Turnover is Sales/ Avg. A/R that's because Sales is related to A/R same for COGS is related to A/P … Inventory Turnover is another one: COGS / Average Inventory that's because COGS is closely related to Inventory.

[soft serve]

Thank you Rosy0407 and joeserrone.

[Holly]

@joeserrone nice explanation

BEC - 79
REG - 85
AUD - 5/27/16

[Author]

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