[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

[kenckang]

@kimphan

in the wiley text book its actually called the “monitoring for change continuum”

I think the “monitoring for change continuum” ties two of the eight components of coso erm together. Risk Assessment and Monitoring. Change management is actually a part of Risk Assessment.

If we want to make changes to the internal control in the future, we need to know that the changes are warranted. We do this by having periodic and separate evaluations of internal control (monitoring).

[kenckang]

@dbacpa

im not 100% sure but for me personally, if the WC prompt is an email to a client or someone you need to be nice to, then im planning to but “best regards, blah blah”

if the WC is just an internal memo to your audit staff who you can treat like sh*t then im not gonna bother.

[Anonymous]

Testing friday as well, not feeling real confident but hoping for the best

[BBHYX]

@dbacpa In the real business world, memos don't have sign-offs. With that said, I doubt doing it on the CPA exam would result in points getting taken off or added on.

[Bianca]

Hi everyone,

I am taking BEC for the first time tomorrow.

I have purchased ninja mcqs and notes about 2 weeks ago along with using Becker. After I waited 4 miserable months for find out my FAR score(which I failed) I went onto to BEC. I read great things about Ninja and hoping for a passing grade. I just took the Becker mock exam and noticed that some of my simulations were marked incorrect because of rounding.(For example, I answered 8.9% when the correct answer was 8.8%) Does anyone know if partial credit is given for sims if answer is within close proximity?

Thanks in advance!

[kenckang]

wiley has a few sims where you are marked as incorrect for answering 8.9% instead or .089. More annoyingly, getting marked wrong for writing .089 when the correct answer is 0.089. i think the actual exam will have clearer instructions.

[Anonymous]

Few questions on variance analysis-
If the question islooking for usage or efficiency its normally going to be act×std/std×std

If its asking for a price or spending variance its usually act×act/std×act correct?

[kenckang]

i think usage is: Standard Price (Actual Quantity – Std Quantity)

Efficiency is: (Std OH rate $/Hour)[(std.Hour/Unit)*(Actual Units Produced) – (Actual Hours Worked)]

Price: Actual Quantity*(Standard Price – Actual Price)

[Anonymous]

Yea meant minus not divided by

[Anonymous]

Bec feels much more difficult than aud to me.

[BBHYX]

Any know a good length to write for the WC? I've looked at the samples ones but it seems to vary by so much. Some will have three solid paragraphs of content while other WCs have 1 little middle paragraph of 5 sentences. What is a good benchmark?

[kimphan]

Hello,

Did any of you do the AICPA practice test? Did they give you the solution to the TBS questions?

Kim

[kenckang]

@kimphan i did the practice aicpa test. yes they give you the solution to the tbs

[w4kj4k]

nvm i figured it out!

[Helloworld]

Can someone help me to understand below?

in Ninja Note 2017, Pg 13, it says “Positive Supply Curve Shift (Shift Right)…..Higher Equilibrium GDP”; Pg14, “Negative Supply Curve Shift (Shift Left)…..Lower Equilibrium GDP”.

Assuming Demand curve stays, when Supply curve shifts to the right, shouldn't Equilibrium be in a lower position and verse such?

Thanks

[Author]

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