[jeff]

@h0wdyus

Incorrect

The answer is B. Comparable sales.

“The use of comparable sales is not an income approach to valuation of a business, it is a market approach. Under the comparable sales approach, the value of a business is determined by comparing it to other entities with comparable characteristics for which the value is more readily determinable.”

This was a tricky one

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

[stoleway]

@Random….

Thanks, I've been lurking and answering some of the question being posted secretly, cuz I don't want to lose memory in case I have to retake. I'm still recovering from my exam..lol

you guys should keep going, you're on the right path

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[RandomAlt]

Ugh…yeah, I'm burnt out. I could have tried to graph that, but I just took a shot. Time for bed.

Good luck all, see ya tomorrow.

FAR - [10/07/2013 --> 66] [07/07/2014 --> 86]
BEC - [08/31/2014 --> 86]
AUD - [11/24/2014 --> 88]
REG - [02/14/2015 --> 92]

[h0wdyus]

A

@Random

Can you please post the Equiv unit example you mentioned above.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[RandomAlt]

@h0wdyus – here it is

https://www.another71.com/cpa-exam-forum/topic/bec-study-group-july-august-2014/page/15?replies=1435#post-470874

FAR - [10/07/2013 --> 66] [07/07/2014 --> 86]
BEC - [08/31/2014 --> 86]
AUD - [11/24/2014 --> 88]
REG - [02/14/2015 --> 92]

[RandomAlt]

So…does anyone have any good tips on distinguishing the between the different components of the COSO framework?

FAR - [10/07/2013 --> 66] [07/07/2014 --> 86]
BEC - [08/31/2014 --> 86]
AUD - [11/24/2014 --> 88]
REG - [02/14/2015 --> 92]

[h0wdyus]

@random

I use the components of IC framerowk to remember it.. The IC framework is

1) Control Env <=== COSO calls it Internal Env which is the same as Control Env

<=== Objective Setting

<=== Event Identification

2) Risk Assessment

<=== Risk Response

3) Control Activities

4) Info and Comm

5) Monitoring

See the arrow addition on the right for COSO

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[Zackrampage]

@random

CRIME = Control Activities, Risk Assesment, Information and Communication, Monitoring, Control enviornment.

Control activities are broken down into 4 categories. Mnemonic RIPS: Review of performance, Information processing, Physical control over assets, and Segregation of duties.

Control enviornment is broken down into 8 categories. Mnemonic PHRASED: Philosophy, Human resources, Reporting competencies, Authority and Responsibily, Structure, Ethics, and Directors.

you can remember the Mnemonic RIPS is shorter that PHRASED and the term control activities is shorter than control enviornment so use RIPS for activities and PHRASED for enviornment.

I hope this helps. Let me know if you need a breakdown for ERM.

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Zackrampage]

Correction control enviornment is 7 categories sorry lol I obv suck at calculation haha.

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[h0wdyus]

@Zack

Looks good. I will remember the memonics too along with what I did in Yaeger. Can you send the ERM memonic too.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[TigerWoods]

I'm at a crossroad. I've been through Becker twice and and took the first practice test. Do I keep pounding multiple choice since this test is 85% M/C or just review the book. For FAR and REG at this point I would review the book and stop doing multiple choice. Not sure the best strategy…

[h0wdyus]

Review the book. I am actually reviewing costing from book and them in the later half will do MCQ. Will review Gov tomorrow from book and do MCQ, will review IT if possible on too from book.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[Anonymous]

I too am doing 24 MCQ testlets to simulate exam day, but I will be combing through the book to memorize throughout the week.

[GoVPI]

My exam was heavy on COSO looking back.

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[h0wdyus]

@cpain14

They like to ask theory stuff.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[YORKER]

Guy's did you notice that in Becker in the beginning of the actual book when they give simulations they address someone like “To VP” but in the actual Becker H.W. section when they write a memo they don't address anyone they just write.

Which is the correct way of writing?

[Author]

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