BEC Study Group April May 2017 - Page 30

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  • May 25, 2017 at 8:01 pm #1560445
    A1lessio
    Participant

    @desperatetopassall I wouldn't worry about that. I had that fear with FAR because the calculations were outrageous and so difficult and I still finished with plenty of time. For the long questions there are always really short questions that take 10-20 secs to answer.

    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.

    AUD (08/02/2016)

    May 25, 2017 at 9:33 pm #1560483
    A1lessio
    Participant

    Was Business Process MGmt tested heavily? All of those boring topics in the beginning of B6 in Becker.

    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.

    AUD (08/02/2016)

    May 25, 2017 at 11:04 pm #1560514
    CC
    Participant

    I took it today finally. Felt fairly okay with the test as a whole. Just keep cranking out the MCQs and maybe practice a handful of SIMS.

    "assumption is the mother of all f'ups"

    FAR - 76
    BEC - 74, 74, 77
    REG - 76
    AUD - 76

    May 26, 2017 at 3:13 pm #1560742
    jlcasti11
    Participant

    Has anyone taken the AICPA BEC sample test online? I took it today and I can't figure out how to calculate the cash flow ratio on the second sim question. The answer key says 1.44. I believe the formula is cash from operations divided by current liabilities. Please help. I take my test on 5/28 and I would feel so much better if I understood this question.

    AUD - 88
    BEC - NINJA in Training
    FAR - 88
    REG - 76
    MO Ethics 95
    May 26, 2017 at 7:42 pm #1560823
    A1lessio
    Participant

    jlcasti11 – can you possibly post the question?

    Exam is tuesday, I am cramming all weekend. Plan to take a Becker practice test on Sunday morning. Need to finish chapter 4 & 5 this weekend.

    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.

    AUD (08/02/2016)

    May 26, 2017 at 8:08 pm #1560832
    HoldMyBeerCPA
    Participant

    Can someone break this down for me.

    Lynn Manufacturing Co. prepares income statements using both standard absorption and standard variable costing methods. For year 2, unit standard costs were unchanged from year 1. In year 2, the only beginning and ending inventories were finished goods of 5,000 units. How would Lynn’s ratios using absorption costing compare with those using variable costing?

    A. Same current ratio, same return on stockholders' equity.

    B. Greater current ratio, smaller return on stockholders' equity. – Correct Answer

    C. Same current ratio, smaller return on stockholders' equity.

    D. Greater current ratio, same return on stockholders' equity.

    If return on equity = Net Income / Stockholders' Equity, and net income is the same for both variable and absorption costing in this instance, how is the ROE smaller? Am I missing something?

    "FACT": The odds of consecutively passing all four sections of the CPA exam on the first try: 7%.

    Me: Hold my beer...

    FAR (April 2017): 75+

    BEC (May 2017): 75+

    AUD (July 2017): 75+

    REG (September 2017): 75+

    Roger + Ninja Audio/MCQ/Notes (BEC & REG)

    May 26, 2017 at 8:12 pm #1560838
    jlcasti11
    Participant

    Thanks for trying to help but I don't think I could easily post the question on here. It's several tabs long on the AICPA website. There's only two BEC sample sims on the AICPA website.

    AUD - 88
    BEC - NINJA in Training
    FAR - 88
    REG - 76
    MO Ethics 95
    May 26, 2017 at 8:26 pm #1560843
    JMG
    Participant

    So my retake was today and I honestly have no idea how I did. The crazy thing is I felt better coming out of my prior attempt after only a week and a half of studying than this new format with 5 weeks of studying.

    Time management is crucial, I averaged an hour on each of the first testlets which ate up half my overall time. Ended up having to rush through the WCs and ran out of time before I could give them a second look.

    The sims were not too bad but they incorporated a lot of different concepts rather than focusing on one in particular.

    Personally, I would have rather done the WCs first and got them out of the way, by the time I finished the sims my creative writing skills were shot.

    Best advice I can give: know your IT and concepts. Don't get too hung up on formulas and computation.

    Your fail scores are like battle scars, so wear them proudly!

    REG - 76 (expired 7/31/18)

    BEC - 69, 72, 80

    AUD - 62, 70, 74

    FAR - 50, 60

    May 26, 2017 at 9:24 pm #1560858
    A1lessio
    Participant

    turbosandwich – any chance you can post the description Becker gives for that question? That's a tricky one.

    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.

    AUD (08/02/2016)

    May 26, 2017 at 10:21 pm #1560886
    nkwhitaker
    Participant

    @jlcasti11 for the AICPA sample test, I was also puzzled by the operating cash flow ratio problem. To get the answer, it's (EBIT – Interest + Depreciation) / (CL – Income Taxes Payable) and that gets you to 1.44. So basically don't include taxes.

    AUD - 81
    BEC - 84
    FAR - 81
    REG - 79
    Done!
    May 28, 2017 at 10:54 am #1561452
    Anonymous
    Inactive

    I'm using cpa review for free multi choice questions and I feel like they are off the wall hard!!! I have becker and the beckers review I bought. What is the best supplement questions to use. Please help!

    May 28, 2017 at 11:00 am #1561455
    A1lessio
    Participant

    Did anyone here take the new Becker Practice Test? I scored 74% on the MCQ which I am very happy about.

    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.

    AUD (08/02/2016)

    May 28, 2017 at 2:21 pm #1561522
    A1lessio
    Participant

    I did awful on the sims.

    One thing I learned form the practice exam is read instructions very carefully. I answered a whole sim correct, but because I didn't follow one simple step I got 100% incorrect. (I won't tell you Becker Users what it is 😉

    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.

    AUD (08/02/2016)

    May 28, 2017 at 4:54 pm #1561594
    Teal
    Participant

    That AICPA sample test just scared the daylights out of me. I didn't even do poorly on the SIMs, but they still look scary haha. I also didn't do very well on MCQ which was completely surprising and making me wonder why….

    AUD - 82
    BEC - 79
    FAR - 75
    REG - 77
    NINJA & Roger

    Passed AUD!

    Passed BEC!

    Passed FAR!

    Passed REG!

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

    May 28, 2017 at 6:32 pm #1561642
    Alli Byrne
    Participant

    @TurboSandwich, I think the trick in that question is knowing the difference between how absorption and variable methods classify various costs. Here's why I think (B) is correct:

    1. Since absorption costing includes all production costs (including fixed overhead) as inventory, this means inventory amounts are higher. Since inventory is a current asset, this means the current ratio is higher.

    2. With variable costing, fixed overhead is a period expense rather than a product cost. Therefore, this results in an additional expense and makes net income lower (despite the standard costs being the same under each method…the classification of the fixed overhead as a product vs. period expense is the key issue here). Lower net income leads to a lower ROE.

    Hopefully that makes sense. I just took BEC yesterday, and have no idea if I passed. I feel pretty good about it, though.

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