[jeff]

Resources:

Free Study Planner + BEC NINJA Notes (Economics): https://www.another71.com/cpa-exam-study-plan/

BEC Exam Experience: https://www.another71.com/cpa-exam-forum/topic/bec-exam-experience-official-thread

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

[Wendy]

Ugh!! Exam is in a week!! Studying with Becker, and it seems like my progress tests are all over!! Sometimes I'm in the 80's and others in the high 60's!! Has anyone else run into this and passed?! It's driving me crazy!!

Hopeful this time around.... Back after a 2 year break!!

BEC - Feb 2013 78!!
FAR - May 2013 76!!
REG - 70! 71! 80!!
AUD - Oct 2013 79!!

FINALLY DONE!!

[sdgh1826]

@soxfan866

I find B2 the most difficult and confusing chapter, so there's some light after the tunnel.

Becker 2012, NINJA notes

[Anonymous]

Working through the final review period now with a week left until the test (2/20). I've worked through all of the Becker MCQs a second time and have rewritten the NINJA notes once.

For the next seven days, I'll just read the NINJA notes once or twice a day and do one or two progress tests.

I think I'm going to skip the Becker Final Exams this time around. I found the Auditing ones to just be a confidence deflator and it appears several people have felt the same about BEC. I'm starting to run into the same stretch I did for Auditing where I'm getting sick of the material. I just want to sit and take it at this point. But, that probably means I just have to work harder.

@soxfan. I keep running into that question during my progress tests too. I agree, it's quite annoying.

[frecklescpa]

I'd appreciate if someone could clarify a BEC solution to a question.

Here is the question:

Hi-Tech Inc. has determined that it can minimize its weighted-average cost of capital (WACC) by using a debt/ equity ratio of 2/ 3. If the firm’s cost of debt is 9% before taxes, the cost of equity is estimated to be 12% before taxes, and the tax rate is 40%, what is the firm’s WACC? a. 6.48% b. 7.92% c. 9.36% d. 10.80%

The answer to the solution is choice C, but how did they get 2/5 and 3/5 from the ratio of 2/3?? See solution given below. I understand everything else but this, – it must be getting late and it must be obvious and I am just not seeing it……:(

The requirement is to calculate the weighted-average cost of capital (WACC). Answer (c) is correct because the WACC is calculated as 9.36% {2/ 5 × [9% × (1 – 40%)]} + (3/ 5 × 12%).

[frecklescpa]

dbrandonr1

Keep doing the problems. If you can do the problems in ebook too that's great. I have both the data bank and wiley ebooks. My exam is in two weeks. Good luck.

[Anonymous]

frecklescpa, 2/3 comparing two items such as debt and equity is not two thirds or 66.7%. But it means 2 parts debt compared to 3 parts equity which means there are 5 parts (2+3) total. So debt is really 2/5 (40%).

[frecklescpa]

Carver7

Thanks!! Now I get it!!! Duhh!!!

[Sudad]

Okay. So, I took BEC on Feb. 12. All I can say is that MCQs were more difficult than I expected, but the WC were not too bad. WC were easy compare to the set of MCQs I've got. I budgeted 30 mins for the first testlet because I thought that they're easy, and I can get easily answer them in less than 30 mins. Oh man! It took me 45 mins to finish the first testlet! That made me a little disoriented and couldn't focus. On the second testlet, I strategized and managed to recollect myself. I thought that if I kept doing what I was doing on the first testlet, I would not have enough time for the writting part. So what I did was, I answered all the theory questions first then did the questions that require computations last. I recovered some of the time I've lost from the first testlet. And I did the same strategy on the third testlet. It gave me a little more than one hour to do the WC. The writting portion were not that difficult at all, but I used all the seconds that I had left for the writting part. Well, good luck to all of you who are preparing to take the exam!

DONE!!!

[no.cruncher]

So, I've officially met the motherload… Variance Analysis. Surprisingly,

I have a great handle on DM & DL

“Price Variance” = (AP-SP)AQ

‘Efficiency Variance” = (AQ-SQ)SP

HOWEVER, The Overhead Variances just brought my hopes back down… Does Becker cover this Variance in depth (Level 1, 2, 3…) or does it mention anything about skipping or just knowing basics etc.??? Sorry, just overwhelmed with this aspect of it… They give me like 6 different formulas… for this Mnfg. Product Cost Variance alone!

FAR - 7/16/2012 *76 : 2.5mo [Exp. 1/2014]
AUD - 8/31/2012 *82 : 1mo
REG - 11/27/2012 *83 : 2.5mo
BEC - 2/27/2013 *80 : 2.5mo LET'S DO THIS!!!
Ethics - 3/13

[ 2011 Kaplan Self Study - Textbook, MP3s, FlashCards ]

CMA... Hmmm...???

[Anonymous]

This is what I used for variances which is partially from Yaeger’s notes. Memorize the matrix and not forumlas. When looking at the matrix below, you will see when one compares prices then it is Spending Variance and when one compares quantity then it is Efficiency Variance. So when you learn that principal then you don’t have study hard to memorize the variances’ names … just have to memorize the matrix.

For DM, DL, & Variable OH Variance:

AQ x AP =

. . . . . . . . . . . > Variable OH Spending / DM Price / DL Rate Variances

AQ x SP =

. . . . . . . . . . . > Variable OH Efficiency / DM Qty / DL Efficiency Variances

SQ x SP =

Fixed OH Variance:

AQ x AP =

. . . . . . . . . . > Fixed OH Spending (Budget) Variance

Budget =

. . . . . . . . . . . > Production (Volume) Variance – Not controllable

SQ x SP =

4-Way OH Variance = the four variances listed above

3-Way OH Variance = combine the spending into 1 & leave the other two

2-Way OH Variance = combine the first 3 which are controllable variances & leave the last one which is not controllable.

[natereta]

Is there anyone around Tysons/Reston, Virginia area who is studying for BEC?

[samdiegoCPA]

How are you guys memorizing all of these new terms? I literally just typed up 40 terms I have no idea what they were such as: Floating exchange rate, transfer pricing, export subsidiaries, Keynesian theory, etc.

This is crazy.

AUD: 84
REG: 84
BEC: 79
FAR: 83

[I Want My Life Back 10.12]

Random post before calling it quits for the night…. Exam day is getting closer and closer… I've never wanted to sit for an exam more than I do for this BEC Rematch! I am still scoring lower than I'd like to be in B1 (Becker) in my Progress Tests, and I shouldn't be, it's easy stuff! Ughh… Also need to work on B3 more, I seem to have a common theme of screwing up the Activity Based Costing…

@no.cruncher – I'll try to give some OH Variance Analysis help tomorrow when I am not feeling crossed eyed from studying! You have to learn the “ABA BSA” (“I have to study, leave me alone.” “I am Busy”) nemonic for the 3 way variance, which makes solving for the 1 and 2 ways variances easier.

REG - 72 (Oct 2011), 74 (May 2012), 80 (July 2012)
FAR - 77 (Feb 2012)
AUD - 70 (Aug 2012), 89! (Oct 2012)
BEC - 71 (Dec 2012), 75!(Feb 2013)

[soxfan866]

samdiegoCPA – good question. I'm not. All this crap is impossible to memorize. I would just read it through. If they're going to ask you a question about the Keynesian theory then it would have to be something simple (i.e. what is it?). Obviously you should focus on the big topics (cost accounting, financial management, etc.), but if they're willing to ask something obscurely random then I'd just take my chances. If you haven't seen it before then odds are everyone else hasn't either.

I'm just glad I'm through the computational stuff in Becker (I think). Stuff's brutal. Not extraordinarily hard, just impossible to convince yourself that you actually should care about learning it.

[no.cruncher]

To add to the frustration of this unbelieveable section, I worked C-V-P (Cost Volume Profit) problems last night and right now, and what should be straight forward, is incredibly complex!!! WTF!!!

I'm truly stunned by this Cost Accounting section, my two week plan to review Economics, Financial, & IT are @ risk. I hated cost in College, and my feelings have not changed!

FAR - 7/16/2012 *76 : 2.5mo [Exp. 1/2014]
AUD - 8/31/2012 *82 : 1mo
REG - 11/27/2012 *83 : 2.5mo
BEC - 2/27/2013 *80 : 2.5mo LET'S DO THIS!!!
Ethics - 3/13

[ 2011 Kaplan Self Study - Textbook, MP3s, FlashCards ]

CMA... Hmmm...???

[Author]

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