[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

[Q]

Hi,

You have to know the concepts before do the math.
Read the books twice, and make summary of the concepts, then solve problems. If you have full grasp on the concepts, math will be easy.

In working capital, solve simulations in order to know the concepts thoroughly. And if you like FAR, working capital will be easier.

[Q]

Hi,

In working capital no need to memorize formulas just know the reason behind. Know balance sheet and income statement, and it will be easy for you to understand.

Example: Net Profit Margin = income / Sales

The formula came from Income statement

Example : asset turnover = Sales / Average Asset

The formula came from Balances sheet and income statements, always remember once you used I/S, use B/S as average…

[rencpa]

Thanks a lot, Kev. Hope, I can do okay on the written part of the exam. Certainly, it is NOT my favorite part.

Your exam is soon. I am scheduled for December, however I may push sooner (If I feel like I am okay with the material).

[zestyzain]

I was scheduled to take BEC the day when Harvey made landfall and our house got flooded. I have been so derailed from my normal routine that I haven't been able to study. I had rescheduled the exam for October 20 because I thought I would be able to study.

Any tips on how to review so the study can come back to me? I think the best way for me to do a major refresh would be to just do more MCQs? Any suggestions?

[Defo]

I had the same issue, but with hurricane irma on the 9th. I have been doing MCQ's to keep the material fresh. I rescheduled for the 17th of October. My final review plan is to keep doing MCQ and take notes from the text book.

[Q]

Hi all,

I took BEC last October 5.
I think it's doable if you are ready. Focus on concepts and practice simulations. I believe it's more than enough to pass the exam.

The exam focus on concepts.

God bless future CPAs'

[hopingtogetFAR]

@jwalk I just took BEC yesterday. I think that I am allowed to say there is somewhat of an even weight between calculations and concepts. I can't recall or tell how many working capital calculations I had, but I don't think I was given anything Becker didn't prepare me for. My last week studying I did the Becker progress tests for all B1-6 in increments of 31 and 62, and I think that helped a bit on the test. What study materials are you using?

[Defo]

Can anyone help make sense of the variance analysis questions. I am sometimes mixing up when to use actual cost vs. standard costs.

[fblessed777]

@hopingtogetFAR, how about TBS and WCs? Are they difficult? Thanks.

[Kev]

@Defo use the PURE DADS

P (DM price variance) D x A (difference btw standard and actual x actual)
U (DM usage variance) D x S (difference btw standard and actual x standard)
R (DL rate variance) D x A (difference btw standard and actual x actual)
E (DL efficiency) D x S (difference btw standard and actual x standard)

Let me know if that helps.

[Defo]

Kev,

Thank you! I was looking for something exactly like this. I'll give it a shot.

[hopingtogetFAR]

@fblessed777 I felt like they were really easy. I finished with 45 minutes left, and I double and tripled checked my TBS and WCs. I don't know if that was because I just took FAR which had a great disparity in the difficulty of Becker Sims and test sims or because they were just actually easy.

[fblessed777]

@hopingtogerFAR, Thanks a lot. You finished 45 minutes early, wow! that is really amazing. Hope you nailed it. Wish you luck on your result. I guess only computational and analysis part were asked on TBS?

[Defo]

The Bread Company is planning to purchase a new machine which it will depreciate on a straight-line basis over a 10-year period. A full year’s depreciation will be taken in the year of acquisition. The machine is expected to produce cash flow from operations, net of income taxes, of $3,000 in each of the 10 years.; The accounting (book value) rate of return is expected to be 10% on the initial increase in required investment. The cost of the new machine will be

$12,000

$13,500

$15,000

$30,000

Answer is C. Can someone help explain this one? I can see the formula but its not intuitive to me how to set it up.

[hopingtogetFAR]

@fblessed777 yes, if you have Becker, I think the SIMS are pretty similar. I'm not a fast test taker either. I just felt comfortable with the information for the TBS.

[Author]

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