[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

[lauren725]

@IthinkIcan….This is my first shot at BEC and I agree, the end of B1 and B2 took me a few weeks to get through and even then I did not feel comfortable but I have moved on the B3 (which at least the first part is MUCH better for me) but my plan is to spend a portion of my time going back and reviewing the things I do not know very well. I think repetition is key. This was my strategy for FAR, I never really felt good about any of the sections but I think constantly looking back/ reviewing more that a few times helped me out in the end. I am hoping B2 is the worst of this section. Good luck!! When are you testing?

AUD - 73,91
FAR - 79 - Thank you God!
BEC - 73,79!!!!
REG - 92 whatttt??!

I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

Done! Praise God!

[JamesBJames]

I thought the latter half of B2 was awful. B4 also isn't a ton of fun.

There is a lot of easy stuff in B3 and B5, however.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[GoVPI]

B2 and the end of B1 are the worst in my opinion but thats because I'm horrible at cost accounting!

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

[GoVPI]

@jamesb was your weakest area cost accounting?

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

[Kemy]

Hello Guys – how are you guys studying for the WC? I feel prepared for the MCQs, but man I am using both the Wiley TB (the version that merged with some other program) and Gleim to study the WC – Gleim's WC seem WAY off topic to me. Does anyone know if the WC will focus on topics not specifically related to BEC? And also… what's your WC study strategy? I try to answer the topics I know… for the ones I don't, I'm just really reviewing their responses…

FAR - 02/24/14 - 86
AUD - 04/03/14 - 88
REG - 05/29/14 - 68 Retook 11/22/14 - 81 I PASSED!!!!!!!!! IM DONE! Thank You Jesus!
BEC - 07/19/14 - 85

[GoVPI]

Heres a good question:

What is the difference between risk management and risk tolerance, as defined in the enterprise risk management (ERM) framework established by the Committee of Sponsored Organizations (COSO)?

A) Risk tolerance in an ERM system is related to an organization's overall strategy and culture, whereas risk appetite refers to the range of acceptable variation with respect to individual objectives.

B) Risk appetite in an ERM system refers to the level of risk an entity is willing to accept in reaching its goals, whereas risk tolerance refers to the range of acceptable variation with respect to individual objectives.

C) Risk tolerance in an ERM system refers to the level of risk an entity is willing to accept in reaching its goals, whereas risk appetite is related to an organization's overall strategy and culture.

D) None of the above. The two terms are interchangeable.

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

[JamesBJames]

I had a few weak areas. Cost accounting isn't really bad at all but I struggled when variance analysis got introduced into the mix (even though I started to understand it more during review).

I'd say COSO and IT suck more just because they're so much broader. There's a looooot of minutia and sometimes it's hard to figure out what you should focus your attention on.

I'm also not a fan of project management but that's because I got so tired of lists that I fell asleep while reading through that section.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[GoVPI]

@james oh ok i just saw your post in the exam experience and was wondering what your weakest area was (that they only asked 1 question on).. by the way its my birthday so maybe you passed, a day of good fortune! 🙂 kidding but i hope you passed

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

[M.O.D.]

@CPA14

B. Risk appetite is the level of risk an entity is willing to accept in reaching its goals.

@ James

What do you mean BEC asked FAR questions?

Is the material outside of the BEC material?

I am worried because I did not take FAR yet. Should I study FAR simultaneously?

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[JamesBJames]

Nah. I can't really say exactly what the FAR topics were about because I think that's too much disclosure. Most of them you could reason out fine by just having studied BEC, but there were at least two that I would have had no idea how to approach had I not studied FAR first. Becker did not talk about the topic at all in BEC.

I wouldn't worry about it. I was just surprised to see them in BEC — I was ready for the AUD / COSO crossover but wasn't expecting FAR in the slightest.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[stoleway]

My experience with BEC is that the review courses actually covers 90% of things to expect on the exams, but the 10% can actually be pulled out of anywhere. Of course the FAR and REG questions you will get on BEC is just a scratch of the surface, you will never get anything complicated on this sections but you need basic understanding on certain topics on these REG and FAR (it could be one or two questions, but they can contribute to your failure)

BEC also overlaps a little bit with AUD, its actually a mix bag and the AICPA can always pull a surprise. After passing all the other sections, I can comfortably rate BEC as the real beast. Its easy for most people but its actually humbled me throughout this process. Lets do this BEC fam!

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

Mass-CPA

[M.O.D.]

@ James and stoleway

I understand that financial reporting material underlies the entire CPA exam. The CMA exam did too, but the CMA material prepares you with financial reporting subjects, including IFRS. I did not see this in BEC.

I took intermediate accounting and taxation courses, so I am not that worried. Good to know that the questions are general in nature.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[GoVPI]

BEC is my first exam I'm taking ever. I hope to pass because I would love to move to auditing, I just had it in school finished with an A and our professor nailed COSO in our head. I would really love to say I've passed BEC and AUD by the time I graduate in December. And be studying for REG for Q1 next year. I think if I can pass 2, I have 150 credits, I have an accounting internship, I think I could land a job in VA/NC/SC making 40-50 a year. That's what I am hoping for. (I'll have 15,000 on student loans)

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

[stoleway]

Question…

Give me 3 characteristics of Accounting Rate of Return

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

Mass-CPA

[Zackrampage]

Are becker questions harder than ninja mcq? From my experience taking FAR the exam mcqs werent as hard as becker. Did anyone feel ninja mcq were like the real test? Taking bec aug 28th and thinking of purchasing ninja mcq on top of becker qiestions.

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

[Author]

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