[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

[Anonymous]

Yeah, if I get a question like that, I'll cry.

Welp, I redid all of the B6 questions, did 40 IT questions, did all the 2014 released questions, went through some formulas, and just did a 50 MCQ progress test in Wiley. I don't know what else I can do at this point but I don't feel prepared. It could be that I just took FAR a month ago and was pretty over prepared for that one and because this one is so much shorter, I feel like I'm missing something.

[Anonymous]

Okay…I started this journey May 22, 2014…my sole purpose for getting an MSA was to sit for the CPA. First exam scheduled. Been studying for 6 weeks. One more Module to read #47 in Wiley. Then, I will work the MCQs, WC with my index cards for formulas and vocabulary. Using Vol 1 and Vol 2. WIP is extremely difficult to understand. Just studied from 4:45pm until 1am.

BEC -scheduled for August 23

AUD -November 2014

REG -February 2015

FAR – May 2015

[Anonymous]

Ellen it looks like you've given yourself a good amount of time for your first test. It's always a little hard getting starting because you spend a lot of time figuring out which study methods work for you. Don't forget to not just answer as many mqc as you can, but dissect them. Know why the one answer is right and the others are wrong. And if you run into questions that you completely understand or are oddly very easy and would be a waste to ever review, somehow mark it so you don't spend any more time answering it. I always run into a few of those…

Good luck Ellen! Oh, and my test is also for August 23rd. We got this!

[GoVPI]

The following is selected information from the records of Ray, Inc.:

Purchases of raw materials $ 6,000

Raw materials, beginning 500

Raw materials, ending 800

Work-in-process, beginning 0

Work-in-process, ending 0

Cost of goods sold 12,000

Finished goods, beginning 1,200

Finished goods, ending 1,400

What is the total amount of conversion costs?

$5,500

$5,900

$6,100

$6,500

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

[Anonymous]

To determine conversion costs do the following:

FG increased by 200 (1,400-1,200) + COGS is 12,000 = 12,200 total production costs

Beg. RM 500 + Purchases 6,000 – End. RM 800 = 5,700 RM used in production

12,200 – 5,700 = 6,500 Conversion Costs

Conversion costs are labor + OH, so you've got to back out to it, knowing the change in finished goods inventory, and the RM used.

[Kls238]

You can also try to draw out all the steps by using Becker's ‘BASE' Beg + Add – Sub = End Formula:

Beg RM $500

+ Purchases 6,000

< RM used – PLUG 5,700>

= End RM 800

Beg WIP $0

+ DM used 5,700

+ Converson cost (DL used + MOH Applied) PLUG 6,500

<COGManuf PLUG from formula below 12,200

= End WIP 0

Beg EI $1,200

+ COGManuf PLUG 12,200

<COGS 12,000>

= End EI 1,400

Passed all sections.

[Peterman25]

Kls – that's how I have to do it to so that I see it making sense, but I find there is an increased chance for error because of the additional steps involved. You are doomed if you don't pay attention to the details.

I end up doing this on a notepad for the accounts involved to back into the 6500 number

Beg + Purch = Avail – Used = End. And in this case you have to remember in the WIP account that the conversion costs are what was used or transferred out minus the materials additions.

Whew!!

BEC 7/14 - PASS
FAR 10/14 - PASS
AUD 1/15 - PASS
REG 4/15 - PASS

AZ license - Official 8/20/2015

[Anonymous]

Just did a Becker practice exam and scored 79, 75, and 83 on the MCQ testlets, so overall about a 79. I scored an 83 on my Becker practice test for FAR and got an 86 on the real test so hopefully thats a good sign? I wish I had scored above an 80 though.

EDIT: Now that I'm reviewing it, I missed stupid questions. Like, I flip flopped transaction and translation exposure or I thought it said price was rising, but it said price was falling.

[Anonymous]

Just did another progress test as well, and it felt like these were NOT questions I've seen before (probably in the HW once) but I definitely have not seen them in any of my progress tests to date. Good news the score turned out better than I expected given the relative difficulty/tricky-ness of the questions!

@Amanda_88, as a data point, on my audit exam, I scored about 12-13 points better on the actual exam in comparison to the Becker final exams.

[Kimboroni]

I'll check in with you guys from time to time– I'm now unofficially studying for BEC. I took REG yesterday, and last night I started listening to BEC Ninja Audio and reading the first BEC module in my book. I'm motivated to get going on the work, although I don't know when I'm testing yet. I have to see how much I can get through while also working full time and working on costumes for the local anime convention coming up Labor Day weekend– it's a *big* deal for my daughter (and for me– it's really fun).

This looks like an interesting mish mash of material!

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[Anonymous]

I hope that's true for BEC too. Obviously the written sims were not scored so that should help me too because I'm a pretty strong writer. I just want to be done with this section.

[GoVPI]

Def can not wait to be done with this section. I think its a horrible/waste of time section honestly, straight memorization of finance formulas that you will never have to memorize in your life as an accountant.

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

[Anonymous]

Im making a “cheat sheet” (NO I'm not cheating for anyone who doesn't read this correctly :)) to bring to the testing center tomorrow to scan through before I go in. Any recommendations for things to include?

[Peterman25]

Having never taken one of these exams the only thing I can recommend is that you email it to when when you have it completed 🙂

BEC 7/14 - PASS
FAR 10/14 - PASS
AUD 1/15 - PASS
REG 4/15 - PASS

AZ license - Official 8/20/2015

[fiona87]

Just popping in to say how goddamn much I hate this material.

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[Author]

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