[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

[Peach1024]

Thankfully financial accounting is my strong suit and the classes I did the best in during college, and I went through advanced financial accounting for my electives, so I was able to answer most. I still would have preferred to do FAR first to brush up, though. If I could re-do it I probably would tackle FAR before I did BEC just in case, but I wouldn't say it's absolutely necessary.

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

[M.O.D.]

@ Peach

Thank you for the feedback. It is helpful. I am now strongly considering taking 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)

[WannaBeDone]

Is there anyone out there using Gleim who is getting ready to retake the BEC exam? I am just beginning the studying for my first attempt at this one and am wondering if, based on the feedback you received the last time you tried the BEC exam, how accurately Gleim's simulations show what is required to receive a perfect score on the written communications. Like do you feel the depth and amount of writing that the suggested responses go into are similar to what is required on the actual exam based on the feedback you received?

AUD - 83 (Feb 2014)
FAR - 84 (May 2014)
BEC - 78 (Oct 2014)
REG - 72 (Aug 2014), 76 (Nov 2014) DONE!!!!

[M.O.D.]

@ Wannabedone

Post your essay question and answer and I will critique it.

The easy answer is yes, Gleim answers are 5s but you might pass with a 4 or a 3…

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)

[Pumpkins]

Hi guys.. I took BEC this morning and was reading other people's experiences, and I started to freak out when I read something..

If the time expired in the middle of my written section.. meaning I never hit “submit” at the end… The writing I did will still be graded.. right?!?

🙁

AUD- 93
BEC- 81
FAR- 1/26/2015
REG- TBD

CIA Exams Passed in March, 2014

[stoleway]

@pumpkin

Yes, you will be graded based on where you left off.

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

Mass-CPA

[Zackrampage]

Which chapters in becker received new questions recently? Test is in 10 days and I have done so many theybr moatly repeating. Im thinking I will read notes today.

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

[Portia]

Hey Everyone,

Can someone smarter than me help me understand why Becker Question CPA-03549 has a different NRV formula for allocation of joint costs than the formula used for Wiley (2012) MCQ Module 46, question 47?

Anytime I get a math problem, I freeze up.

Please help.

Portia

[M.O.D.]

@ Portia

Please post the problems and the equations, and your calculations. That's how we can analyze it. Not all of us use Becker.

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)

[RandomAlt]

@Everyone in this Study Group

Well, I finished going through my CPAexcel material on Wednesday, and started review on Thursday.

Honestly, I haven't even touched the CPAexcel material yet (redoing all 900 MCQ questions)…I've been working my way through this study group posting from start to finish. It took me 3 days!

There has been a lot of material posted here, and a lot of good explanations. I've gotten some good notes, and seen some material that CPAexcel didn't cover at all.

Overall, thank you everyone, this has been quite the productive and helpful group.

My test is in exactly 2 weeks. Looking forward to contributing and doing MCQ after MCQ after MCQ…

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]

And to start my contribution, here is a fun one…

Para Co. is reviewing the following data relating to an energy saving investment proposal:

Cost

$50,000

Residual value at the end of 5 years

10,000

Present value of an annuity of 1 at 12% for 5 years

3.60

Present value of 1 due in 5 years at 12%

0.57

What would be the annual savings needed to make the investment realize a 12% yield?

$8,189

$11,111

$12,306

$13,889

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

[WANNABE_CPA]

I can never understand this kind of question…i got the few like this on becker wrong…can someone please explain how to do it…

i am not sure but is the answer B?

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[M.O.D.]

This is a cash flow problem:

Year 0: (50000) outgoing cash for the cost of the project = 50000 not discounted because it is at time 0

Year 1 – 5 ? incoming cash flow for the savings = X * 3.6 (given a 12% required rate)

Year 5 incoming cash flow of 10 for the residual value = 10x.57 = 5700

-50000 + 3.6 * X + 5700 = 0

or X = 44300/3.6 = 12,306

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)

[Zackrampage]

Yeah those pretty much blow my mind 🙁

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

[RandomAlt]

@wannabe_CPA … the answer is C: $12,306

I didn't like how CPAexcel explained the answer (I got this wrong), so after doing some research, this is how I understand it now.

The “annual savings” is the yearly cash flow that will help you realize a 12% a year return

So use the following formula:

Cash Flow X Annuity Factor = Present Value

Cashflow(3.6) = 50,000 – 10,000(.57)

-Cashflow is the unknown in our equation

-We want to know how much we have to put in for 5 year, so the annuity factor is 3.6 (given)

-The PV is the tricky part. The $50,000 is given (we are putting in $50,000 today). But we are also getting $10,000 back IN 5 YEARS. So we need to find the present value of that $10,000, and remove it

Cashflow(3.6) = $44,300

Cashflow = $12,306

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

[Author]

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