[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

[Kimboroni]

LOL, maybe you were falling asleep and thinking about ordering a pizza!

Someone brought up Ninja Audio a while ago, and I was going to answer and then forgot. Anyway, the BEC Ninja Audio is pretty inspired– it has a great dicussion on flow chart symbols that is really helpful and entertaining, and he has a good way to remember variance calculations as well. And if anyone is having trouble with IT terminology, that is also an especially good section.

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]

“Only have 7 weeks to get BEC done?”

I'm trying to beat it in 3. Studying full-time of course.

[Zackrampage]

@cpain14 hey buddy! Glad u took ur test and found it bearable. So not too many math/calculation queations you say? Were the ones that were math short atleast? I hope I get more theory than math. I been pounding mcq's so hard that most look like repeats at thia point lol. 13 days till exam day! Im going on a 7 day cruise to bermuda 3 days after BEC. Ill be worried the whole time

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

[GoVPI]

Im started to freak myself out about the testlets and difficulty. My last one was easy… I wonder if that means I failed.

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

[Zackrampage]

I bet you passed!

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

[Zackrampage]

Seeing questions in Becker progress tests that I never seen before are scary

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

[jamie7johnson]

Hi, I've been lurking for a few days and I figured I'd join the conversation! I plan on taking BEC on 8/28 with three weeks of full-time studying. I'm using Becker and I struggled through B1 and made it halfway through B2; I wish I could recall my Cost Accounting! I was getting pretty demotivated so I skipped to B4 today. I figure I'll save the difficult parts (B2 and B3) for last so they can be fresh in my brain as I go into the exam. I wish I hadn't underestimated this section!

REG - 79
BEC - 80
FAR - 80
AUD - 77

[GoVPI]

@zack yep short calcs if i did have them. not many at all. Honestly end of becker 1 and ch 2 are over kill thats all I'm saying. Don't forget about the beginning of chapter 1 and IT. Like i said my questions were over all topics but at first I was taking the first test let and i thought i was in the wrong exam. Its just so clean and neat and to the point. Becker drags it out. I was like in shock I think and on the survey at the end I said i was more than satisfied about the questions (not in what they contained but how they were presented). It took me the whole time and i tried to allocate 45 mins to each section but I had to make sure I had time for the writing, its 15%-20%.. that means you can get a 60 on the multiple choice and still pass. thats a big thing but the topics were one i was knowledgeable about with just going through undergrad business school.

I think you will be fine, but do not underestimate or forget the more general concepts. I feel like we forget the big picture focusing on so many of the small steps.

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

[Anonymous]

Has anyone quit the exam before the time is up? I had less than a minute left on the exam yesterday and I finished all the parts. I had to use the restroom because I couldn't hold it anymore. Will all my parts count?

[Anonymous]

@CPAin14 I think we are in the same boat. Becker practice exams seem more complex and the real exam seems short but precise and to the point. With Becker you can use process of elimination and easily pick the right answer. In the real exam I couldn't do that, I could only eliminate 1 obvious wrong choice. I had to guess a few questions and fell horrible because I didn't even know where to begin.

[GoVPI]

@against

It will count. People finish early all the time.

I could eliminate usually 2 answers on the real exam giving me 50/50 shot. There were some I felt like had 2 answers but clearly, not true. I'm hoping those were pretest questions.

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

[Zackrampage]

@jamie my test is aug 28th also!

@cpain14 glad to hear u didnt see too many convoluted questions. Like I said earlier I have dine so many becker questions that I dont know how to continue they are all repeating lol. I have to make good use of my time left lol. Sad part is I wish I was testing sooner because I feel like I wont learn more than I already know lol.

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

[Peach1024]

@M.O.D, the FAR questions were things that had to do more with bond discounts and premiums, financial statement presentations, etc. I did every single MCQ in BEC and I had exactly one question with a very simple bond discount (I think it was calculating an effective interest rate), but the questions on BEC weren't like that. When I say there were a lot of FAR topics I mean probably about 8 – 10 questions throughout the entire thing, but that's a lot if you're completely unfamiliar with it and can't even make an educated guess.

I'm sure it's been said before, but reading everyone's experience really makes it seem like it's the luck of the draw with BEC. Some people who used Becker report no unknown material, some people report quite a lot. Some report only 2 – 3 calculations (like my test), some report that the test was mostly calculations. It's really hard to know what you're going to get. Maybe they adjust for the oddball questions and the relatively more “difficult” tests through the grading process? Who knows. I think the only thing people have agreed on is that the writing portion is relatively straightforward, and everyone needs to know B1 and B4.

AUD - 88
REG - 76
BEC - 88
FAR - scheduled for 10/20/14

[Peach1024]

Also, @Pumpkins, I would not bother studying the actual JEs for cost accounting. Just know how to calculate equivalent units, cost/EU, etc. for both the FIFO and weighted average methods. I think the only JE that is ever really focused on in BEC is applied overhead, where the actual OH is a debit and the applied OH is a credit, and they want to know if it's underapplied or overapplied. Remember if you end up with a net credit balance then it's overapplied, and a net debit balance would be underapplied.

AUD - 88
REG - 76
BEC - 88
FAR - scheduled for 10/20/14

[M.O.D.]

@ Peach

Thank you for the explanation. I thought the financial instruments (interest rates, present value, etc) would be tested, that is what I guessed when you said FAR.

But did you know enough FAR to answer, since you have not yet taken FAR? Do you think you would have been better prepared if you had taken FAR first?

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)

[Author]

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