[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]

Lol Nick, you guys can be very tricky with your questions and in order not go further with disclosure, we just ignore the rest of the questions at a point in time:)

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

Mass-CPA

[TigerWoods]

It wasn't bad. You guys will be fine.

[metsfan2044]

Hey guys, new to this forum. I just graduated in May and am sitting for BEC in Oct. Yesterday was the first night of my becker class and was very disappointed in how the class went.

What tips can you recommend for studying for BEC as this will be my first part of the CPA exam?

[YORKER]

$39,000?

[h0wdyus]

yes .. u are good this was one of the tough ones. I made a silly addition mistake and got it wrong.

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

FROM NJ

[h0wdyus]

Work in process

EWIP = 160,000 units to account for – 100,000 units completed = 60,000 units.

The next step is to compute equivalent units of production (EU) under the FIFO method:

Units completed 100,000

EU in ending WIP (60,000) (50%) 30,000

130,000

EU in beginning WIP (25,000) (20,000)

(80%)

EU of production 110,000

Conversion cost per unit for the current period is $143,000/110,000 or $1.30 per equivalent unit. The cost of the ending WIP equals the equivalent units in ending WIP times the conversion cost per unit of $1.30:

(30,000) ($1.30) = $39,000

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

FROM NJ

[YORKER]

Becker always includes a ending work in process but this one we actually have to calculate it so yeah it is more difficult

[Anonymous]

@Metsfan, study yourself lol

[EYNewHire]

@metsfan2044 Do as many questions as you can.

[RandomAlt]

Dinner break at work and I hop onto the BEC study group…I have a happening life.

I am so ecstatic, I got the equivalent units questions. The concept looked so hard at first, but it really isn't. I'm a very visual learner, so I made a system when the progress through a T account.

I'm working in CPAreviewforfree right now, but I'll be around for a little bit

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

[YORKER]

I am having alto of trouble with IT controls. Can anyone help me understand how segregation of duties should work between programmers, analysts etc…?

[Anonymous]

For applied OH, when do you use the Std CD vs the Actual CD? (This would be multiplied by the OH Rate to get to applied OH) Becker uses actual CD sometimes and other times uses std CD?

[Anonymous]

im so scared with this exam!! even more than for Regulation!! I am taking it on Saturday 🙁

[h0wdyus]

@another.

What is std CD

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

FROM NJ

[h0wdyus]

@ rzrbkfaith, EY , Nick , Yorker.. Lets slay this dragon tomorrow. I am hating this test.. What do you guys think

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

FROM NJ

[Author]

Replies