[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

[jenpen]

Psh don't even say that @RB! Your input is more than appreciated around here!

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

Wiley CPAexcel and NINJA 10 Point Combo

[Julia]

@rencap thank you!

[rencpa]

@ RB… you are going to get a time out for even thinking this way! 🙂 I printed ALL of your explanations!! Please stay with us ONE more week. Then, regardless of the scores, we may let you go (?)

Let me ask a question 🙂

SV is always excluded in the payback calculations, but it is always included in NPV (net of tax) – last year. Correct?

[jcman240]

do the Ninja BEC sims have any normal sims or are they all written communications?

[RB]

In payback questions they are wondering at which point will they recover their investment (net of tax). At what year or partial year. SV is excluded in payback questions because that money will be received at the end of the life and presumably they’ve gotten their money back before that point, otherwise it wouldn’t be a profitable investment. In theory it could come up where you would incorporate that but I really don’t see it happening.

And NPV does include it yes. All cash flows and cash savings discounted to today, and salvage value as well as depreciation tax savings and anything else that will affect how much money they are getting out of it are all included.

[rencpa]

Thanks a lot RB! I like your explanations help me to understand the material better/deeper. As a teacher, I know you will not just read a book!

Speaking about the time management during the exam. Becker recommends:
1 Testlet MCQs – 45 mins
2 Testlet MCQs – 45 mins
3 Simulation – 30 mins ==> 2 simulations
4 Simulation – 60 mins ==> 3 simulations
5 WC – 60 mins

*I* feel like my time would be:
1 Testlet MCQs – 45 mins (max 50 mins)
2 Testlet MCQs – 45 mins (max 50 mins)
3 Simulation – 45 mins ==> 2 simulations (max 50 mins)
4 Simulation – 45 mins ==> 3 simulations (max 50 mins) ….ARE there 2 or 3 simulations??
5 WC – 60 mins (at least 40 mins)

Questions:
1) How many simulations are we getting in total?
2) Would 40 minutes be enough to write anything? I am considering the fact that English is my second language, so I am not going to devote too much time to it. I know I cannot do as well as you guys, native speakers. 🙂
~Do I start a memo with: “Dear…. whoever” or do I skip this “junk”
~ Do I sign at the end, “Sincerely/Regards, real name?, any name?” or nothing
I understand, I need to write something that will look like a memo. However, I know I will be tired, super tired. What would be the most important, writing something that will have the beginning, supporting 1-2 paragraphs, and the ending. Have been reading Becker WC and I am not that impressed by them.

Guess, I said too much… again!

[rencpa]

Last question…

I took AUD last December and I had some new format simulations. They were easier than I expected, but they did have 1-2 additional documents for each simulation. How about BEC exam? Do we get a lot of additional documents to read? Becker's practice simulations are not that bad. How is the actual exam? How many additional documents should I expect?

[jenpen]

So one thing I noticed @rencpa was your exam breakdown. I thought there were only 4 simulations and 3 written questions? That's what the AICPA Blueprint says. The 40 minute breakdown would be ok if you write at a quick pace, but if you need more time to formulate and organize your thoughts, you may want to try and make sure you have additional time.

As for the memo, it will give you the top portion with the to/subject. Take a look at the practice exam on the AICPA website if you haven't already. That will give you a good idea of how they will look (but you don't get a grade on there, so I wouldn't necessarily take the time to answer the question).

As for the DRS SIMs, I feel like I saw somewhere around here that there is a possibility of those with BEC, but I'm not sure. That's the part of this exam that makes me the most nervous since I haven't actually taken this section with them yet.

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

Wiley CPAexcel and NINJA 10 Point Combo

[RB]

Someone can clarify but I thought it was just 4 sims total, 2 and 2?

I would expect some documents but I wasn't overwhelmed

And Ren, given your second language especially I might recommend more time, I wanted an hour for writing and found that to be good.

I don't have a best strategy for written beyond brainstorming a bit and writing down some keywords that you can throw in. Especially since it's graded by a computer it wants to know you're on topic, so any keywords related to the topic will help. Also in your brainstorm just make sure you have a coherent response to the topic that actually addresses the question, once you know where it's going then write it out. And if you have time read over it at least once, better to re-read after you've done the other ones so you're looking at it new again.

All else you can do is practice some of the written pieces and compare your answer with Becker's suggested response. See if there were obvious keywords you missed or anything.

Before my exam I asked my instructor if there was anyone who could review one or two written responses and critique them for me and he said he asked around within Becker and really there is NO one who offers that. Kinda surprising.

I would potentially be willing to review and offer my thoughts on some practice written responses, but, A – I would charge a tutor fee and B – I'm not 100% sure what they're looking for either. Also my writing isn't perfect, I may be able to help but there are probably better people to help on written, in theory at least.

[rencpa]

Thank you for your help. I appreciate your commments.

I agree RB that I have to try to write one or two WC in order to see how I feel about writing. Certainly, I need to spend some time before the exam to think about my approach.

Jennifer, I checked the AICPA sample test again. These two WC topics are reasonable. Hope for something reasonable like this on my exam.

Wish they eliminate the WC from the BEC exam!

[Starved_Wolf]

There are 4 sims in total. 2 per testlet. I initially thought it was 2 and 3, 5 total because if you look through the beginning pages of the Becker BEC book, they state that there are 5 sims in total. 2 on the first testlet and 3 after.

[Starved_Wolf]

And good luck to those of you still studying! I'm at that stage where I don't know if I should relax and wait for my score or start studying for a retake. I feel super weird not studying.

[Teal]

@Jennifer and @RB – I looked on Roger's website and it shows 4 TBS and 3 WC.

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

[Teal]

@starved_wolf, sorry I missed your post!

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

[jenpen]

@Starved_Wolf I must say I'm jealous of your current status! I can't wait to be there myself after Thursday. But I understand where you're at – I was like that last window, also. I had to wait for the scores to determine if I was retaking either of them or moving on. This time it'll be retake or done. I'm so nervous for this exam. I just want to pass it so I don't have to look at variances or WACC anymore!

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

Wiley CPAexcel and NINJA 10 Point Combo

[Author]

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