[jeff]

Welcome to the Q3 2017 CPA Exam Study Group for BEC. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your BEC exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[kenckang]

i'd cry if i saw that question on the exam.
my best guess is that total OH var includes both fixed and variable overhead. we know that 42,000 is budgeted total overhead and applied is 40,000. since we applied less than we budgeted it is negative 2000. i could be wrong.
not sure how to solve for volume variance.

[kenckang]

anyone taking BEC in the last few days of this window? how are you averaging on mcq now?

[Reema]

@ kenckang- I am taking BEC in 2 days. and I am really really in a panic code. I feel as if I don't remember anything. Have no idea how will it go.. just hoping for best..

[Scared-cpa]

@kenckang I have Ninja MCQs and sitting September 8th.

Total questions: 1,236.
Not Seen: 226.
Averaging 70 and trending 75.

I was trending 82 but a couple bad sessions pulled it down quite a bit. I'm usually averaging 70 and trending 85 when I sit for an exam and pass. What about you?

[kimphan]

@Kenckang, I will take the test next Thursday. I did Becker Mock test and only get 50%…I am so worried now. I am so thankful for this forum. There is still a lot of MC questions that I don't understand the explanation and concepts. I am hoping for the best…

We can do this!!!

Kim

[kenckang]

@reema hoping the best for you. maybe you can spend the next couple days churning out as many mcq as you can?

@summer im trending at around 86. sometimes ill get lucky and score higher but at this point, im practically just subconsciously memorizing answers so im not sure how indicative my score is of my actual grasp on the material. ive done about 5000 question attempts on ninja mcq alone. if i count wiley, then the count is higher.

[kenckang]

@kimphan good luck to you. let me know if you have any questions ill try to help if i can. the wiley practice exam is screwed up. the TBS aren't graded correctly but if i at least got 80%+ on the mcq. however, the wiley practice test just recycles the same TB questions so its hard to say how im truly doing. even though you got a 50% on the mock test, i think you still have a shot at passing. ive read about people scoring that low on the practice test but still passing the actual.

[Scared-cpa]

Woah, that's a lot of questions to do! How long have you been working through Ninja? My goal is to get through all the questions at least once and then work on those previously missed. By the time I get back to the ones previously missed, I've usually forgotten the answer so it's a decent test of my actual knowledge.

[kenckang]

ive been working through ninja for about a 1.5 months

[Scared-cpa]

Ohh, I see. This makes me 2 weeks. Next week I'm hoping to hit it hard and do around 200 questions a day up until test day. I sure hope I pass and it would be wonderful if I passed REG too. Nine months straight of this stuff and I'm beginning to get burnt out!

Are you just working MCQs or reading/taking notes? I'm integrating flash cards and writing formulas this week.

[kenckang]

same here. im just doing mcq from here on out and doing some TBS here and there. it just sucks that wiley only gives us a lousy 9 tbs to practice with. you can find a couple more on the aicpa practice test.

i did the whole shebang. read/take notes, mcq, flash cards from wiley and i made a bunch of my own too. my room is literally covered in scratch paper and flash cards. what really helped was making flashcards that covered the concepts of the MCQ that i missed.

[Anonymous]

@kenckang – Test is on 9/8. Some topics I'm ok on other's I'm super worried. I need to go back and review corporate governance since I haven't looked at it in 6 weeks and already forgot all the mnemonics. I'm currently working through the variance analysis and scoring in the 80s on MCQs, but cash budgets I was in the 50s. I'm taking the Wednesday through Friday off work to review Econ/IT and hope to finish those up by Saturday. Then Sunday through Thursday do a mock exam or two and go back to the earlier chapters.

[Anonymous]

Taking bec sep 9th, most of the simple mcqs i can answer, the longer formula ones im still struggling with.

[BBHYX]

The benefits of debt financing over equity financing are likely to be highest in which of the following situations?

A. High marginal tax rates and few noninterest tax benefits

Can someone explain the noninterest tax benefits part? I feel like I'm doing mental gymnastics with that phrase, I can't even figure out what it's referring to. What would be an example of a noninterest tax benefit? And why do we want few of it?

[Grasshopper]

I can't explain it entirely but hopefully I can explain what they are trying to say. I think they are just rewording to confuse us.

The benefit of debit financing over equity financing is that you can deduct the interest expense on the tax return thus reducing your income and paying less taxes. This is a benefit when there are “high marginal tax rates” and few equity financing benefits. I think the major benefit of debt financing is being able to reduce the income with the interest expense. While with equity, there aren't many tax benefits that I am aware of anyway. You can't deduct dividends like you would the interest. I am currently weak on equity benefits so I can't further explain.

Hopefully someone else can further elaborate. Hope I didn't confuse you more. lol

[Author]

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