[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

[cpa2018]

Taking my exam tomorrow and I'm sooo nervous. I've done all the lessons and worked all the questions and then some. Took the AICPA sample test. I'm using Wiley as my main course and I found that there's not that many TBS practice questions, but just a ton of WC. Any suggestions on how else to prepare for this area? I've also done some Ninja MCQs. I know that sounds like a lot, but I still feel so nervous and all over the place.

Also, I'm feeling a bit weak on the IT side. I hate memorizing definitions and a lot of feels like a bunch of definitions. I'm hesitant to spent too much time going over this, but will go over definitions today. Any other suggestions on this area?

Thank you so much!

[cpa2018]

@futurecpa I'm having the same issue. I keep reworking problems and sometimes it just feels like I have the answers memorized vs really understanding the topic. You should try the AICPA released questions and the sample test. I've been trying to review my notes as well on the topics I feel weakest on. Good luck to you!

[Ana]

do bec tbs have multiple documents to examine to answer the sims (like far)?

[CoachEmUp]

@Ana I would assume so. I'm expecting at least 1 of the 4 to be about ratio's. I also think there is a “DRS” sim which is where you choose the correct sentence from drop downs. So that leaves 2 SIMs, and I would expect they'll have multiple tabs. I think compared to FAR there will be plenty of time to complete it.

@m_cpa91 you got this. Sounds like you're on a good track, just study hard the rest of the day and get a good night's rest. I firmly believe that being confident and staying the course no matter how bad a testlet or two throws you off is a big part of the CPA battle.

[Ana]

thanks, I guess my revised question is does bec have drs and multiple doc sims? I doubt it'll be a ratio sim though.

[CoachEmUp]

Yes, I'm assuming they will. Every other test has had them so this should be no different.

[cpApex Predator]

It seems like the biggest carryover between FAR, AUD, and BEC are ratios. They seem to be a favorite testing topic.

[PNS2CLT]

I retook BEC yesterday. My previous attempt was in September – a week of studying earned me a 74, which wasn't unexpected because I hadn't memorized many formulas.

I wrote my experience elsewhere, but I'll recap here. First testlet was easy — a few of the questions were virtually identical to those in Wiley. The next testlet was the dreaded one people keep referring to. Wow – what a nightmare. What makes me feel good is that virtually everybody receiving this testlet whined about it, but still ended up with a score in the 80s. Otherwise, I'm not sure how I'd prepare for a retake — neither Becker nor Wiley covered most of these IT terms. Roger's website mentions that the AICPA released a listing of new IT vocabulary terms that are now being tested, and all of these terms appeared in Wiley… so I don't get it. Honestly, I don't.

When I took the TBS in September, I thought they were easy (and scored better than passing candidates on them). No such luck this time. My first TBS included the topic I was heavily tested on last time, but completely unprepared for it & I was ready this time — at least I thought I was. They asked for my answers to be included in a specific format — one that both Becker and Wiley mention is beyond the scope of the exam (and it's not discussed). So I tanked this entire TBS, but I'm thinking it's pretest since I doubt the lion's share of test takers would be able to do it.

Next two TBS were more comprehension based than anything else. One was the exact same TBS I had in September, but only this time it was elaborated on and much more difficult (so I'm assuming it was pre-test last time). The other was very awkward… it's similar to the DRS but with less documents and more judgement. For example — and I'm making this up, it's not from the exam — one document would mention that ‘Jane is under suspicion of embezzlement' and the task would ask ‘what legal issues does the company have?' with drop downs that included ‘Jane is suspected of stealing and the best way to find out is to contact the local police', ‘Jane is suspected of stealing and the best way to find out is by applying audit procedures.' Obviously my example is easy, but the test wasn't as straight forward (and the question was BEC related). The final TBS had one task but it was one of those where if you got one part wrong, the whole thing is wrong… and that kinda bothers me.

WC were fairly straight forward. Not sure how hard the technical content is graded anyway. Last time I B.S.'d my way through 2-of-3 and still scored stronger than passing candidates. Man, do I regret not memorizing those MCQ formulas! LOL!

Good luck everyone!

[cpApex Predator]

@PNS, thanks for the review. I wonder where we can obtain a more thorough listing of IT terms? Were they covered in Ninja's material? I tried watching YouTube videos on some IT topics. Hopefully that will help.

[PNS2CLT]

Roger CPA mentions the changes:

Also new to IT is a list of updated vocabulary terms that could appear in 2018. While these terms have been used in the tech world and the accounting profession for many years, they are new to the CPA Exam. The “new” terms include:

Artificial intelligence and machine learning
Automation
Big data, data analytics, and data visualizations
Blockchain and cryptocurrencies (e.g., bitcoin)
Cloud operations and data storage
Cybersecurity
Digital business models

– – –

I will make it clear, these questions were NOT straight-up vocabulary, and to be honest, I'm completely unfamiliar with them but I suspect they fit in the above categories. That said, it sounds like they were pretest (Roger mentions they will begin testing them in 2018), which explains why everyone who has gotten these questions still gets a high score on the exam.

[Anonymous]

Had my retake today. Really at a loss as far as what to study. Simply didnt study enough the 1st time and got a 66. Put the time in this go round. Was trending really well in ninja.
1st testlet I wasnt sure on about 14 questions. Just stuff i havent seen before.
2nd testlet was much easier (not a good sign)
Sims werent bad, feel good about 2, decent on 1 and maybe 50% on the other.
Wc werent terrible. 1 i nailed, 1 I felt pretty good on and 3rd I bs'ed through.

Completely different exam than the 1st. Hoping for a pass, but not confident at all with that 1st mcq testlet.

[Teal]

Does anyone have any tips for econ? I didn't really take a whole lot of econ classes and all of the different variables really confuse me.

FAR (66,68) Aug 26
REG (66) July 25
AUD (66) December 1st
BEC - October 3rd

[jenpen]

@teal I'm in the same boat. I didn't have any Econ classes that I can remember, and I'm really struggling with that section.

AUD - 56 - 68 - 61 - 9/8/16
REG - 75
FAR - 7/15/16
BEC - TBD

Wiley CPAexcel and NINJA 10 Point Combo

[cpApex Predator]

@PNS, thanks for the link. I will brush up on those terms. Even if they are pretest, it might help so as to spend less time on them.

@Teal, I can share a few mental tricks that I think of with econ questions….unsure if they will be of any help to you….Demand curve is downward sloping. I think of decline/demand. In perfect competition, the demand curve is perfectly flat (MR=D). A perfectly elastic curve is like a rubber band that you pull both ends to infinity, thus the horizontal nature of it. A perfectly inelastic curve is vertical and I think of “I” in inelastic and the fact that it points up like an “I.” Similarly, independent versus dependent variable with something like quantity and price- the “I” in independent is like the bottom part of the “Y” axis, which in economics is where price usually goes. The quantity (X) depends on the price.. In other cases like y=mx + b, the “x” is the independent variable, so this trick doesn't always apply… A price ceiling is a price set below equilibrium and when drawn in a graph it forms what looks like a house, thus ceiling. It also forms an upside down triangle, which I think of as an upside down cup. If you turn a cup upside down, then everything falls out and you have a shortage. The opposite is true for setting a price floor, which is a price above equilibrium. This forms an upward facing triangle or full cup, which is a surplus. Those were hard for me to understand, because the ceiling and floor are the opposite of where ceilings and floors appear in a house. The cup image works for shifts in the demand or supply curve. Sometimes it helps to draw it out quickly to visualize it…Elasticity is percentage change in quantity over percentage change in price. I think of this as how much is the change per dollar. With “Per” meaning divide, and dollar in the basement. Above one is elastic, below one is inelastic. If it is elastic, then it is responsive to changes, so total revenue moves in opposite direction. Increase price of an elastic variable and total revenue will decrease, and decrease and total revenue will increase. Inelastic is opposite and total revenue moves in the same direction…Multiplier effect, total change equals initial change times 1/(1-MPC)….Whenever it says marginal, that means one more. Marginal propensity to consume or save is the change in savings or consumption over the change in income…In most situations, firms want to produce where MR=MC….

This is a good example of where the CPA exam is pretty shallow. It seems like if you just drill down on the basic concepts you should be fine. There are quite a few MCQ in the Ninja test bank asking you to calculate certain elements of GDP, but it doesn't seem like the exam will go that deep. Maybe like ten formulas, and then the general concepts. Once you get the core down, then you can reason through a lot of the answers…Hope this helps!

[bobby]

Hey guys – I'm studying for BEC with Becker right now, and I am just blown away by how ridiculous the lectures and reading do not prepare you for the multiple choice. I have been working through chapters 1-4 and just time in and time out, I fail the MCQ because, while I did understand the readings, the MCQs are a step above the lectures and reading. For a product that costs you over $3,000, shouldn't it prepare you better? I am constantly confused and frustrated by the MCQs because I feel like I haven't been prepared for them.

Has anyone else run into this issue? And if so, how do you work past it?

[Author]

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