[jeff]

BEC Resources:

Free BEC Notes & Audio – https://www.another71.com/cpa-exam-study-plan

BEC 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

BEC Score Release: https://www.another71.com/cpa-exam-scores-results-release

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

[TargetCPA]

@ Eliabraham I am also taking notes for Corp Governance. But struggling to remember the whole process.

Monitoring is:

1. Assess the quality of internal control performance.

2. Internal controls are monitored by performing ongoing activities.

3. For monitoring purpose, those individuals aka evaluators.

4. Evaluators are both competent and objective.

5. Monitoring may be considered as the following sequence of activities are:

Control baseline – Understanding of the current system's design & operation

Change identification – identifies & addresses the changes needed in the system of i/c.

Change management – evaluating the changes & establishing new baseline

Change revalidation/ update – periodically update the proper operation of the system.

[Anonymous]

@Target. Thanks its hard integrating the principles with the old system: Monitoring has 2 principles it assess whether each of the 5 components are are present and function. This is the 2013 definition (I read some newsletter on AICPA website saying they are going to test both 2009 and 2013 because companies are giving until 2015 to convert into the “new COSO” not really new but face lift, much clearer and understandable instead of jargon. Then the second part would be what you mentioned above about Evaluators, Failures of IC and baseline thing.

Control environment (provides a basis for setting IC) – 5 principles and detailed version 2009 7 elements

Risk Assessment 4 principles are the summary of the detail older version

Control Activities (Existence of Controls) 3 Principles same as above

Infor & Comm 3 Principles “”

Monitoring would 2 as described above

COSO IC has 3 objectives, 5 components and within the 5 components you have 17 principles.

[Anonymous]

@Target. Thanks its hard integrating the principles with the old system: Monitoring has 2 principles it assess whether each of the 5 components are are present and function. This is the 2013 definition (I read some newsletter on AICPA website saying they are going to test both 2009 and 2013 because companies are giving until 2015 to convert into the “new COSO” not really new but face lift, much clearer and understandable instead of jargon. Then the second part would be what you mentioned above about Evaluators, Failures of IC and baseline thing.

Control environment (provides a basis for setting IC) – 5 principles and detailed version 2009 7 elements

Risk Assessment 4 principles are the summary of the detail older version

Control Activities (Existence of Controls) 3 Principles same as above

Infor & Comm 3 Principles “”

Monitoring would 2 as described above

COSO IC has 3 objectives, 5 components and within the 5 components you have 17 principles.

[Anonymous]

IT section – then the new COBIT = integrating IT with strategy and governance.

5 Principles to approach and address stakeholder info. needs and 5 Enables are factors that individually and collectively influence whether something will work in an org.

I am convinced a failed because I kept using info from the old framework.

[Anonymous]

IT section – then the new COBIT = integrating IT with strategy and governance.

5 Principles to approach and address stakeholder info. needs and 5 Enables are factors that individually and collectively influence whether something will work in an org.

I am convinced a failed because I kept using info from the old framework.

[TargetCPA]

Thank you so much Eliabraham for sharing everything about COSO. you are absolutely right about updated material.

Now I got it from Roger updates.

[TargetCPA]

Thank you so much Eliabraham for sharing everything about COSO. you are absolutely right about updated material.

Now I got it from Roger updates.

[Anonymous]

@ bizval42:

You mentioned about gleim that you are using for your exams. Is there any tips or study plan that you would like to share with us?

– I'm new to this board, so I apologize if I'm not replying correctly, etc. Hopefully I'll figure it out shortly.

To answer the question, I found that doing questions through Gleim's online question bank to be extremely helpful. For AUD I'm reading through the material (hope to be finished next week) and then will do nothing but online questions. The format of Gleim was exactly like that of the actual exam, so there were truly no surprises. We'll see how AUD goes – I could get destroyed – but for BEC the Gleim online questions were probably what put me into the passing column.

Good luck to all!

[Anonymous]

@ bizval42:

You mentioned about gleim that you are using for your exams. Is there any tips or study plan that you would like to share with us?

– I'm new to this board, so I apologize if I'm not replying correctly, etc. Hopefully I'll figure it out shortly.

To answer the question, I found that doing questions through Gleim's online question bank to be extremely helpful. For AUD I'm reading through the material (hope to be finished next week) and then will do nothing but online questions. The format of Gleim was exactly like that of the actual exam, so there were truly no surprises. We'll see how AUD goes – I could get destroyed – but for BEC the Gleim online questions were probably what put me into the passing column.

Good luck to all!

[Anonymous]

-and I apologize for my post the other day. After re-reading it, I sound like an arse. I'm just starting out and could possibly get destroyed by the other exams.

[Anonymous]

-and I apologize for my post the other day. After re-reading it, I sound like an arse. I'm just starting out and could possibly get destroyed by the other exams.

[TargetCPA]

Here is my question for you all BEC candidates:

If a product has a price elasticity of demand of 2.0, the demand is said to be

A. Perfectly inelastic.

B. Relatively inelastic.

C. Perfectly elastic.

D. Relatively elastic.

@ bizval42, Thank you for your reply. Its helping me either in BEC 🙂 I am hoping for pass score this time with the help of section by section MCQs from Gleim TB.

I like their way of presenting their MCQs for each section in every module. BTW, Good luck for your AUD exam. Do more SIMS practice from Gleim.

[TargetCPA]

Here is my question for you all BEC candidates:

If a product has a price elasticity of demand of 2.0, the demand is said to be

A. Perfectly inelastic.

B. Relatively inelastic.

C. Perfectly elastic.

D. Relatively elastic.

@ bizval42, Thank you for your reply. Its helping me either in BEC 🙂 I am hoping for pass score this time with the help of section by section MCQs from Gleim TB.

I like their way of presenting their MCQs for each section in every module. BTW, Good luck for your AUD exam. Do more SIMS practice from Gleim.

[joch0803]

How's everyone doing on their study plans?

I'll admit I got side tracked by the holidays and being sick again. However I have an amazing Manager that gave me a kick in the butt to help get me motivated!!

10 days to go…Visualizing a score of 78!! : )

Audit 10/2012- 77
Reg- 1/7/13- 82
Financial-2/25/13- 78
BEC- 74,66,81!

License pending : )

Ethics- Passed
Experience- Done

Using Becker self study.
**For BEC retake using Ninja Blitz, Ninja Notes, Ninja Audio, and WTB (my Becker expired)

[joch0803]

How's everyone doing on their study plans?

I'll admit I got side tracked by the holidays and being sick again. However I have an amazing Manager that gave me a kick in the butt to help get me motivated!!

10 days to go…Visualizing a score of 78!! : )

Audit 10/2012- 77
Reg- 1/7/13- 82
Financial-2/25/13- 78
BEC- 74,66,81!

License pending : )

Ethics- Passed
Experience- Done

Using Becker self study.
**For BEC retake using Ninja Blitz, Ninja Notes, Ninja Audio, and WTB (my Becker expired)

[Author]

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