[jeff]

I have a question that I hope you can help me with…. I purchased the Becker CD’s and installed them on my PC. I have taken and passed all but one of the exams (BEC left).. I was checking to see if my software was up to date and noticed an expiration date of November 2013.. Does this mean my software ( downloaded from my CD’s) will no longer work after November….or will it no longer be supported but I can still take practice exams and do study questions etc?

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

[Zaq]

I need someone to tell me that if I just do non-stop MCQ's up until next Saturday that that will be plenty enough for me to pass.

Wiley has about 600 questions in their test bank which I plan to go through (possibly twice) while Becker has 1,100 questions (harder to go through since progress tests are randomized). How I'm feeling at the moment:

1.) B2 and B3 are definitely becoming my strongest chapters.

2.) The comprehensive from B1 and B6 are definitely my weaknesses.

3.) There are still some math questions that I forget how to compute, but upon seeing the explanation jumps right back at me. It's as if some of these formulas or procedures are trying to escape my brain over time if I don't see that kind of problem for a while. I won't let it!

I'm just going to keep trucking through. Wrong answers = write down fact nuggets and review the information around it.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[nishvik]

Hello,

I did not understand this particular MCQ from B2 in Budgeting & Analysis.Did anyone understand the calculation as to why we take June and July calculation?

Question CPA-03792

Rolling Wheels purchases bicycle components in the month prior to assembling them into bicycles. Assembly is scheduled one month prior to budgeted sales. Rolling pays 75% of component costs in the month of purchase and 25% of the costs in the following month.

Component costs included in budgeted cost of sales are:

April -$5,000 May-$6,000 June – $7,000 July- $8,000 August- $8,000

What is Rolling's budgeted cash payments for components in May?

a $5,750

b. $6,750

c. $7,750

d. $8,000

Explanation

Choice “c” is correct, $7,750.

This problem requires the candidate to derive budgeted cash payments for the month of May from a schedule of budgeted cost of sales. The question indicates that components are purchased one month prior to assembly and two months prior to sale.The question also indicates that components are paid for over two months, with 75% being paid in the month of purchase and the remaining 25% paid in the following month. Therefore, cash payments in May will relate to units to be sold in June and July. The payments will include the 25% balance of components purchased for June sales, and the 75% payment for components purchased for July sales. ($8,000 x 75%+ $7,000 x 25%=7,750)

FAR- 79 -->Becker self study, Final review & Flashcards
REG -72-->Becker ,76-->Becker plus Wiley test bank
AUD- 73 Becker,72-->Becker+Wiley,69-->Added ninja notes,89 --> Added Gleim review
BEC- 84 Becker plus Wiley Test bank

I am Done !!!!

[nishvik]

Hello,

I did not understand this particular MCQ from B2 in Budgeting & Analysis.Did anyone understand the calculation as to why we take June and July calculation?

Question CPA-03792

Rolling Wheels purchases bicycle components in the month prior to assembling them into bicycles. Assembly is scheduled one month prior to budgeted sales. Rolling pays 75% of component costs in the month of purchase and 25% of the costs in the following month.

Component costs included in budgeted cost of sales are:

April -$5,000 May-$6,000 June – $7,000 July- $8,000 August- $8,000

What is Rolling's budgeted cash payments for components in May?

a $5,750

b. $6,750

c. $7,750

d. $8,000

Explanation

Choice “c” is correct, $7,750.

This problem requires the candidate to derive budgeted cash payments for the month of May from a schedule of budgeted cost of sales. The question indicates that components are purchased one month prior to assembly and two months prior to sale.The question also indicates that components are paid for over two months, with 75% being paid in the month of purchase and the remaining 25% paid in the following month. Therefore, cash payments in May will relate to units to be sold in June and July. The payments will include the 25% balance of components purchased for June sales, and the 75% payment for components purchased for July sales. ($8,000 x 75%+ $7,000 x 25%=7,750)

FAR- 79 -->Becker self study, Final review & Flashcards
REG -72-->Becker ,76-->Becker plus Wiley test bank
AUD- 73 Becker,72-->Becker+Wiley,69-->Added ninja notes,89 --> Added Gleim review
BEC- 84 Becker plus Wiley Test bank

I am Done !!!!

[peetree]

@nishvik the timing is everything.

“Rolling Wheels purchases bicycle components in the month prior to assembling them into bicycles.”

“Assembly is scheduled one month prior to budgeted sales.”

That is a total of two month lag time.

Therefore in May, what will you be paying for? Production for June and July.

If in April you purchased June materials so you would have paid 75% of the June cost in April and 25% of the June cost in May. Also in May, you'll be paying for the materials you purchased for production in July (which you plan on assembling in June).

The first time I did this problem, the months threw me off. I had to read it a couple of times to understand it thoroughly. I would rate this question as a hard one.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[peetree]

@nishvik the timing is everything.

“Rolling Wheels purchases bicycle components in the month prior to assembling them into bicycles.”

“Assembly is scheduled one month prior to budgeted sales.”

That is a total of two month lag time.

Therefore in May, what will you be paying for? Production for June and July.

If in April you purchased June materials so you would have paid 75% of the June cost in April and 25% of the June cost in May. Also in May, you'll be paying for the materials you purchased for production in July (which you plan on assembling in June).

The first time I did this problem, the months threw me off. I had to read it a couple of times to understand it thoroughly. I would rate this question as a hard one.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[Zaq]

Yeah, it's one of those “draw up the month table” problem that eat up your exam time. I also remember this question. The wording of the question made it difficult for me to realize that there was a two-month lag.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[Zaq]

Yeah, it's one of those “draw up the month table” problem that eat up your exam time. I also remember this question. The wording of the question made it difficult for me to realize that there was a two-month lag.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[nishvik]

Thanks @peetree for the explanation.Understood it to some extent still trying to digest it.

This whole month thing is driving me crazyyyy…I have one more MCQ doubt and again its related to month.Why do we take prior months ie Januuary wen it says 20% collected in first month after sales. Shouldnt it be May?

I will soon become Mental surely :-S 😕

Question CPA-03823

Orion Corporation is preparing a cash budget for the six months beginning January 1, Year 1. Shown below are the company's historical collection pattern and the budgeted credit sales for the period.

65 percent collected in month of sale

20 percent collected in the first month after sale

10 percent collected in the second month after sale

4 percent collected in the third month after sale

1 percent uncollectible

January- $160,000

February -185,000

March- 190,000

April -170,000

May- 200,000

June- 180,000

The estimated total cash collections during April from accounts receivable would be:

a. $154,900

b. $167,000

c. $173,400

d. $176,200

Explanation

Choice “c” is correct. $173,400.

April 170,000 x 65% = $110,500

March 190,000 x 20% = 38,000

February 185,000 x 10% = 18,500

January 160,000 x 4% = 6,400

Total=$173,400

Choices “a”, “b”, and “d” are incorrect, based on the above explanation.

FAR- 79 -->Becker self study, Final review & Flashcards
REG -72-->Becker ,76-->Becker plus Wiley test bank
AUD- 73 Becker,72-->Becker+Wiley,69-->Added ninja notes,89 --> Added Gleim review
BEC- 84 Becker plus Wiley Test bank

I am Done !!!!

[nishvik]

Thanks @peetree for the explanation.Understood it to some extent still trying to digest it.

This whole month thing is driving me crazyyyy…I have one more MCQ doubt and again its related to month.Why do we take prior months ie Januuary wen it says 20% collected in first month after sales. Shouldnt it be May?

I will soon become Mental surely :-S 😕

Question CPA-03823

Orion Corporation is preparing a cash budget for the six months beginning January 1, Year 1. Shown below are the company's historical collection pattern and the budgeted credit sales for the period.

65 percent collected in month of sale

20 percent collected in the first month after sale

10 percent collected in the second month after sale

4 percent collected in the third month after sale

1 percent uncollectible

January- $160,000

February -185,000

March- 190,000

April -170,000

May- 200,000

June- 180,000

The estimated total cash collections during April from accounts receivable would be:

a. $154,900

b. $167,000

c. $173,400

d. $176,200

Explanation

Choice “c” is correct. $173,400.

April 170,000 x 65% = $110,500

March 190,000 x 20% = 38,000

February 185,000 x 10% = 18,500

January 160,000 x 4% = 6,400

Total=$173,400

Choices “a”, “b”, and “d” are incorrect, based on the above explanation.

FAR- 79 -->Becker self study, Final review & Flashcards
REG -72-->Becker ,76-->Becker plus Wiley test bank
AUD- 73 Becker,72-->Becker+Wiley,69-->Added ninja notes,89 --> Added Gleim review
BEC- 84 Becker plus Wiley Test bank

I am Done !!!!

[peetree]

Think about what its stating though. “20% collected in the month following the sale”

If they're budgeting sales for March, then 20% of those March sales will be collected in April.

If they're budgeting sales for February, then 10% of those February sales will be collected in April.

You wouldn't go pull the sales out of May and bring them back into April, would you?

For this question, its a lot easier to start in the month they're asking, (which would be April) and work backwards.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[peetree]

Think about what its stating though. “20% collected in the month following the sale”

If they're budgeting sales for March, then 20% of those March sales will be collected in April.

If they're budgeting sales for February, then 10% of those February sales will be collected in April.

You wouldn't go pull the sales out of May and bring them back into April, would you?

For this question, its a lot easier to start in the month they're asking, (which would be April) and work backwards.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[peetree]

Does anyone else have to really slow down when handling foreign currency and hedging questions?

I normally have been a fast test taker but when I see these questions, I have to go through them at about 1mph to ensure I'm understanding them correctly.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[peetree]

Does anyone else have to really slow down when handling foreign currency and hedging questions?

I normally have been a fast test taker but when I see these questions, I have to go through them at about 1mph to ensure I'm understanding them correctly.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[ljrpr]

@peetree I dont understand hedging for the life of me. I get lost in the questions that ask ABC Corp. needs to: buy or sell a put or call :s

AUD-83
FAR-4/12/14
REG-5/30/14
BEC-TBA

[ljrpr]

@peetree I dont understand hedging for the life of me. I get lost in the questions that ask ABC Corp. needs to: buy or sell a put or call :s

AUD-83
FAR-4/12/14
REG-5/30/14
BEC-TBA

[Author]

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