[Q1] BEC Study Group 2014 - Page 3

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  • December 3, 2013 at 5:18 pm #524577
    Qlad
    Member

    There is this question in Becker….Cost of asset is 150000 …3 yr life and 10000 salvage value. Depreciation is 30, 40 and 30% for 3 yrs and savings is 85000. tax is 40%. and PV of $1 aand OA is given for 3 yrs…

    I didn't know how to solve bcoz of the deprn ….but still I used PV of OA for savings after tax… and PV of $1 for dep. and salvage value…the answer was wrong because they solved by using PV of $1 for everything in each year…why?

    could someone pls explain…

    FAR 72,71,81 🙂
    AUD 64,71, 72, 75 🙂 I'm done !!!
    REG 73, 74, 74, 84 🙂
    BEC 76 🙂

    December 3, 2013 at 5:18 pm #524526
    Qlad
    Member

    There is this question in Becker….Cost of asset is 150000 …3 yr life and 10000 salvage value. Depreciation is 30, 40 and 30% for 3 yrs and savings is 85000. tax is 40%. and PV of $1 aand OA is given for 3 yrs…

    I didn't know how to solve bcoz of the deprn ….but still I used PV of OA for savings after tax… and PV of $1 for dep. and salvage value…the answer was wrong because they solved by using PV of $1 for everything in each year…why?

    could someone pls explain…

    FAR 72,71,81 🙂
    AUD 64,71, 72, 75 🙂 I'm done !!!
    REG 73, 74, 74, 84 🙂
    BEC 76 🙂

    December 3, 2013 at 5:38 pm #524528
    UCMCPA
    Member

    You would take the PV of 1 for each year because the cashflows for each year are different.

    Year 1 is

    85,000 x .6

    150,000 x .3 x. 4

    Year 2

    85,000 x .6

    150,000 x .4 x.4

    Year 3

    85,000 x .6

    150,000 x .3 .4

    10,000 x .6

    The cashflows would have to be the SAME for every year to use the annuity tables. If cash flows were the same for years 1 and 2, you could use the PVA for 2 years, then just use the PV of 1 for year 3.

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    December 3, 2013 at 5:38 pm #524579
    UCMCPA
    Member

    You would take the PV of 1 for each year because the cashflows for each year are different.

    Year 1 is

    85,000 x .6

    150,000 x .3 x. 4

    Year 2

    85,000 x .6

    150,000 x .4 x.4

    Year 3

    85,000 x .6

    150,000 x .3 .4

    10,000 x .6

    The cashflows would have to be the SAME for every year to use the annuity tables. If cash flows were the same for years 1 and 2, you could use the PVA for 2 years, then just use the PV of 1 for year 3.

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    December 3, 2013 at 5:40 pm #524581
    JustWant 75
    Member

    Started CHP 1 but had no interest what so ever so i stopped studying. I guess the opening of this study group means i need to get back to it ASAP 🙁

    Becker, Ninja Audio + Notes

    FAR: 80 (Aug 2013)
    AUD: 91 (Nov 2013)
    BEC: 79 (Feb 2014)
    REG: 80 (May 2014)

    December 3, 2013 at 5:40 pm #524530
    JustWant 75
    Member

    Started CHP 1 but had no interest what so ever so i stopped studying. I guess the opening of this study group means i need to get back to it ASAP 🙁

    Becker, Ninja Audio + Notes

    FAR: 80 (Aug 2013)
    AUD: 91 (Nov 2013)
    BEC: 79 (Feb 2014)
    REG: 80 (May 2014)

    December 3, 2013 at 6:57 pm #524583
    Anonymous
    Inactive

    Taking BEC the first week of February, just started studying yesterday. The BEC textbook feels like a pamphlet compared to the FAR book.

    December 3, 2013 at 6:57 pm #524532
    Anonymous
    Inactive

    Taking BEC the first week of February, just started studying yesterday. The BEC textbook feels like a pamphlet compared to the FAR book.

    December 3, 2013 at 8:20 pm #524585
    Qlad
    Member

    I am getting confused between NRV spilt-off method and NRV method of joint cost allocation….cud someone pls explain in simple words…

    FAR 72,71,81 🙂
    AUD 64,71, 72, 75 🙂 I'm done !!!
    REG 73, 74, 74, 84 🙂
    BEC 76 🙂

    December 3, 2013 at 8:20 pm #524534
    Qlad
    Member

    I am getting confused between NRV spilt-off method and NRV method of joint cost allocation….cud someone pls explain in simple words…

    FAR 72,71,81 🙂
    AUD 64,71, 72, 75 🙂 I'm done !!!
    REG 73, 74, 74, 84 🙂
    BEC 76 🙂

    December 3, 2013 at 8:34 pm #524587
    jlough
    Member

    Depending on whether or not the AUD gods are shining on me on Friday, I may be joining you fine folks here. Looking to take BEC in late January- starting to study tomorrow, after my weeklong post-exam hiatus. Hopefully will be the home stretch for me!

    F- 7/13- 84
    R- 10/13- 79
    A- 11/13- 99
    B- 1/14- 86

    Licensed in PA- 3/20/2014

    This exam ALMOST defeated me back in 2006-2008, but I came back and WON!

    December 3, 2013 at 8:34 pm #524536
    jlough
    Member

    Depending on whether or not the AUD gods are shining on me on Friday, I may be joining you fine folks here. Looking to take BEC in late January- starting to study tomorrow, after my weeklong post-exam hiatus. Hopefully will be the home stretch for me!

    F- 7/13- 84
    R- 10/13- 79
    A- 11/13- 99
    B- 1/14- 86

    Licensed in PA- 3/20/2014

    This exam ALMOST defeated me back in 2006-2008, but I came back and WON!

    December 3, 2013 at 11:27 pm #524538
    StephAV
    Member

    Agreed about the BEC book being a pamphlet compared to FAR! Lol!

    I have done all the videos, started back in August, finished the last chapter last week. Now I'm doing a 2nd review reading the book, taking notes and doing the questions. I'm using Roger CPA Review. After this pass through I'm planning to rewrite the NINJA notes and make some flashcards. Then do TONS of mcq from the WTB. I read through the 2nd chapter of Roger's book last night, it was super short, took notes, tonight I'll do the questions. I feel pretty good about BEC, although a lot of formulas and stuff to memorize. MUST PASS this thing. They are starting to put the pressure on at work. ;-/

    FAR - 7/13 - 72, 11/13- 74, 2/14- 82!!! Best score ever (for me)!!!
    BEC - 1/14 - 75!!! Perfect score! First Pass! YAY!!!
    AUD - 8/14 - 80!!!
    REG - 5/14 - 72, 10/14 - 66, 1/15 - 78 - DONE FOREVER!!!
    I did 5 of the UNA and CPAExcel classes to earn units.

    December 3, 2013 at 11:27 pm #524589
    StephAV
    Member

    Agreed about the BEC book being a pamphlet compared to FAR! Lol!

    I have done all the videos, started back in August, finished the last chapter last week. Now I'm doing a 2nd review reading the book, taking notes and doing the questions. I'm using Roger CPA Review. After this pass through I'm planning to rewrite the NINJA notes and make some flashcards. Then do TONS of mcq from the WTB. I read through the 2nd chapter of Roger's book last night, it was super short, took notes, tonight I'll do the questions. I feel pretty good about BEC, although a lot of formulas and stuff to memorize. MUST PASS this thing. They are starting to put the pressure on at work. ;-/

    FAR - 7/13 - 72, 11/13- 74, 2/14- 82!!! Best score ever (for me)!!!
    BEC - 1/14 - 75!!! Perfect score! First Pass! YAY!!!
    AUD - 8/14 - 80!!!
    REG - 5/14 - 72, 10/14 - 66, 1/15 - 78 - DONE FOREVER!!!
    I did 5 of the UNA and CPAExcel classes to earn units.

    December 3, 2013 at 11:56 pm #524540
    UCMCPA
    Member

    Qlad, post an example

    I know it all depends on if you have a sales value for each product, if you do, use that for your apportionment of joint costs.

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

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