[jeff]

Welcome to the Q4 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

[Gimme_a_75]

I just scheduled BEC for October 14. I'm hoping and praying that gives me enough time to get through the material.

[houston2017]

I just recently took the new BEC I made a 65. I used the Roger CPA review course. I plan to retake it ASAP, what other review course should I use? I plan to retake within 3 weeks. If I use Ninja alone with what I already know from lectures on the Roger review do you think it's possible to get me at least a 75? My strongest parts on the exam were the Written Communications and the IT portion.

I am trying not to give up on this, I've never wanted something so bad.

AUD-ROGER
BEC-65,65
FAR-ROGER
REG-ROGER

[PNS2CLT]

@Gimme_a_75 – It depends on your prior knowledge, the number of hours per day you put in and your academic talent. I studied BEC for a solid 30-40 hours over the course of a week and ended up with a 74. Per my candidate report, one category – cost accounting – sunk my score. Unsurprisingly, it was the section I had spent the least amount of time on, even skipping over a couple sections that were heavily on my exam.

@houston2017 – Have you been utilizing the practice questions in Roger? If not, they should be similar to Ninja (and most/most the same – both use released AICPA questions). If you are using them, but still struggling, then Ninja may provide better explanations that might help you.

[BBHYX]

@summer It feels great! I had a dream (nightmare?) that I was studying BEC last night and I woke up in a panic! Had to tell myself it was over and done with before I calmed down hahaha

Also congrats on passing REG! We were studying in the REG group together too, but my username was ZYX107 or something. Glad to see you passed both!

[Anonymous]

Congrats you guys! All well deserved!!

[houston2017]

@PNS2CLT I've done nothing but the Roger MCQ's and TBS. I was scoring pretty high on the practice exams for Roger spending less than 90 seconds per MCQ. But I keep scoring the same thing when I take the actual exam.

[PNS2CLT]

@houston2017 – You must be memorizing the answers rather than grasping the understanding of why the answers are correct. If I were you, I'd invest in the Wiley Test Bank — you can purchase it through Amazon generally for less than $150, which is 75% off list price (it's an access card to give you online access – it requires an internet connection). WTB questions tend to be original, as opposed to the AICPA-licensed questions most review programs utilize. WTB questions also tend to be tougher than the actual exam questions, which should boost your confidence.

[houston2017]

@PNS2CLT I was getting the feeling that I was probably way too familiar with the questions having done them so many times. Well to anyone trying to buy the WTB they currently do not have any BEC sims to practice. The rep said they're currently updating them and it will be at least a month.

[PNS2CLT]

Personally, I wouldn't bother with the simulations — spend your time on the MCQ. Many of the MCQ are multi-step and mimic what we'll see in the sims. Practice sims are only valuable in the sense of extra practice once you've covered all available MCQs.

[Grasshopper]

Can some explain how it goes from being 1.5 to .5 or a different way to solve this? I got to the 62.5 but am lost how it changes from a 1.5 to .5. Thanks for your help.

A firm's current ratio is presently 1.75 to 1. According to a working capital restriction in the firm's bond indenture, the firm will have technically defaulted if the current ratio falls below 1.5 to 1. If current liabilities are presently $250 million, the maximum new commercial paper that can be issued to finance inventory expansion an equivalent amount without technically defaulting is:

B.

$125.00 million.

The easiest way to approach this problem is to realize that the increase in the current assets due to the increase in inventories will have to be matched with the same amount of new financing in current liabilities, in this case through commercial paper. The new current ratio that results must be no lower than 1.50, so:

CA + Inc in Inv
—————- = 1.50, where “Inc in Inv” is the
CL + Inc in Inv increase in inventories.

The task is to identify all variables other than new inventory (Inv). We know that the present current ratio is 1.75, and that current liabilities are presently $250 million. Since:

CA
——- = 1.75, CA = $437.5m
$250m

The formula then becomes:

$437.5m + Inc in Inv
——————– = 1.50
250m + Inc in Inv

So:

$437.5m + Inc in Inv = 1.5 ($250m + Inc in Inv)
$437.5m – $375m = 1.5 Inc in Inv – Inc in Inv
$62.5m = 0.5 Inc in Inv
Inc in Inv = $125m

[Anonymous]

I apologize in advance to the people in this forum who are studying for Q4 2017 BEC but the forum for Q3 is closed.

I just wanted to say CONGRATS to my “study buddies” @Summer @BBHYX @kenckang. WE PASSED BEC!!! And it appears we all did better than what we even hoped. I passed with a 90 and was only hoping for 75+. I'm still in shock that it's all over. Just one more class and awaiting to fulfill the experience in Jan 2018. There were others in the group butI remember you all based on the questions you posted and I attempted to help with to test my knowledge as well. @kenckang you'll be finished before you know it. You got this!

[Anonymous]

@Grasshopper On the step below, treat the “- Inc in Inv” as “- 1 Inc. in Inv), then the 1.5-1 will give you the .5 Increase in inventory.

$437.5m – $375m = 1.5 Inc in Inv – Inc in Inv

[Anonymous]

Last post, I'm at work at bored if you couldn't tell BUT..

@Vinti I purchased Ninja and supplemented with Wiley's 2 week free trial on BEC and got a 71 my first attempt. I purchased Gleim for the retake. I had head Gleim was very comprehensive and felt Wiley didn't provide enough.

Gleim covered a lot of information that I don't even remember seeing on the actual exam. The BEC exam felt extremely easy and actually made me a little nervous about my results. I only purchased the book and MCQ but I studied all the time for a month and went over every MCQ question. I didn't cover a lot of TBS or WC. BTW Gleim has TBS and WC for each study unit (20 units). Towards the end of my review, I just submitted blank responses to WC and read their responses to get an idea of what to write/ how to structure it. You only get 3 attempts at TBS so I tried to wait until I had covered all the study units and come back around but ran out of time for my study plan.

Just know the way I did it takes discipline (which is why I ran out of time – lol). Gleim has a lot of features but I didn't pay for those this time around. I used them for FAR and found that I didn't really like the videos (I prefer to read since the videos aren't as in depth), audio was hard to follow b/c I couldn't take notes as fast (and I'd usually listen in the car with traffic so it was hard to focus), I never stayed on track with my study calendar. So that's why I decided to tough it out with just the book and MCQ for the remaining sections since that was all I had used the first time. I hope this helps.

[Defo]

I was scheduled to take BEC on the 10th of September, but got shutout due to prometric closures during Hurricane Irma.

I was prepared to take it before the test was cancelled, but haven't looked at the material in 2 weeks now. I am thinking the best plan is to set my test date as Oct 23rd to give enough time to restudy the entire course if need be.

[Scared-cpa]

Thanks, @JustEss it truly is an amazing feeling to be finished! I still can't believe it and I don't think it will sink in until I get a letter from the state board. I just never in my wildest dreams thought I would pass BOTH sections in the same quarter. Woah, mind blown! This has been an amazingly difficult, emotional, and rewarding experience and I'm glad I got to spend it with you guys! 😙

[Author]

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