[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

[rencpa]

@Sweetie1, you really made my day (or my night) 🙂 It was nice to hear from you! And you are very welcome. Good luck to you tomorrow/today on your exam!!

Honestly, I think we all got lucky by having some great people sticking here while preparing for this exam. Personally, I am the most thankful to RB for sharing his amazing knowledge with us! And you, Jennifer for all the “chatting”. Honestly, I am thankful to all of you for asking questions. It helped me to keep going and handling the most critical family situation I faced last month. I was extremely down exactly a month ago, but with you guys here, I managed to the end.

My exam is Saturday, but I may stay away from the Forum tomorrow. Tomorrow, actually today, its is my brother's birthday, who passed away a month ago! I am sure, I will show up at some time this weekend even though my husband told me that he is going to disconnect me from the Internet 🙂 Well, I miss my family as much as they miss me.

Thank you everyone! Hope we all pass, but if we do not… we are going to make it next time!

Cheer up! And GOOD LUCK!

[Abdulmajid]

@Jenni
Since you feel like you did will in TBS
please let me know how much time you spent practice the simulations in your review program?
for me I didn't study those kind of questions so far but plan to keep one entire day (7Hrs) walk through them
is that enough ?

[Teal]

My test is today!! I will share how it went this afternoon 🙂

Any last thing I should review in the next 2 hours??

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

[Teal]

Super last minute question: can anyone tell me why they didn't add 60% of the Ending Inventory to EU here? (sorry about the formatting):

A manufacturing company employs a process cost system. The company’s product passes through both Department 1 and Department 2 in order to be completed. Conversion costs are incurred uniformly throughout the process in Department 2.; The direct material is added in Department 2 when conversion is 80% complete. This direct material is a preservative that does not change the volume. Spoiled units are discovered at the final inspection and are recognized then for costing purposes. The physical flow of units for the current month is presented below.

Beginning work in process in Department 2
(90% complete with respect to conversion costs) 14,000
Transferred in from Department 1 76,000
Completed and transferred to finished goods 80,000
Spoiled units—all normal 1,500
Ending work in process in Department 2
(60% complete with respect to conversion costs) 8,500

If the manufacturing company uses the weighted-average method, the equivalent units for direct materials in Department 2 for the current month would be
67,500
80,000
81,500**
90,000
You Answered Correctly!
This answer is correct. This is the correct calculation for direct material equivalent units.

Supporting Calculations
Physical schedule
Units to account for:
Beginning WIP 14,000
Trans-in Dept. 1 76,000
Total units to account for 90,000

Units accounted for:
Units completed (80,000)
From beginning WIP (90%) 14,000
From current production 66,000
(80,000 – 14,000)
Total units completed 80,000 80,000
Spoiled 1,500 1,500
Ending WIP (60%) 8,500
Total units accounted for 90,000 81,500

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

[RB]

Teal, this took me a second, but it’s kinda a trick in the question

They want direct materials only, and they say DM is added in department 2 after 80% completion. So at 60% complete for conversion cost those materials have not yet been added

[jiji]

I Finished taking the exam today. I have no idea how I did. I know I guessed a lot of the IT stuff even though I practiced a lot and spent a lot of time doing IT questions. I felt like the multiple choice especially the second one was challenging. The TBS were ok, not as bad as I thought. There were a wide spread out of topics. In my opinion though, it was mainly comprehensive rather than memorization. I hope AICPA gets to give us a curve on all those IT questions. Good luck to whomever is left.

[jenpen]

Ren, I have been thinking about you all day. I hope your exam went well!

Ana, you as well, my friend! I’ve been checking for both of your updates. I hope that you both had good experiences in the last day. 😊

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

Wiley CPAexcel and NINJA 10 Point Combo

[rencpa]

Hi Jennifer. Hi everyone!

Well, it was not my best day, but thankfully it's almost over 🙂

I started the day by falling down the stairs! Great beginning, right. Went to Prometric and needed to wait around 55 minutes before I went through all the waiting and security. It was truly annoying to see how slow they were.

Speaking about the exam. MCQs were not different than you guys got. A lot of IT, however not that much COSO (or the one from IT could have been considered to be both:IT and COSO) Other than that, I am glad that my financial accounting & audit knowledge is still fresh, because I remember the same questions taken on my FAR & AUD exams!! I did not expect these type of questions on my BEC. First testlet was so-so. I spent more time on it because there were a lot of calculations and they were not 1 minute questions. I knew how to calculate them, so I took my time. Unfortunately, my 2nd testlet seemed to be EASIER 🙁 I truly mean easier to the point that I had a chance to answer some of the questions without studying! Not all of them were easy, however I had probably around 4-6 super easy. I managed to speed up and be on time before I approached simulations.

They were 4 of them (in total). From my experience, they ARE doable, however…. damn, they need to have a better spreadsheet! I *badly* needed to use one and I tried, but got fed up with it. Also, they gave me a lot of documents to read. I would say, the simulations are too involved to answer one in 20 minutes. Why? I needed to read everything in order to eliminate the junk. Then I needed to focused on what was needed and then answered the questions. Other calculations were rather intense with limited functionality within the program (spreadsheet was junk and calculator not much better).

My favorite part, written communication, was not bad. However, I had not enough time to write what I was able to write.

Summarizing, I am going to relax tonight and for a couple of days. Then, I may keep reviewing because it doesn't make me feel like I did enough. Well, I may need a tutor, RB 🙂

Oh, one more thing… I got annoyed with waiting for laminated pages after my 2 testlet. A woman told me, “raise the hand when you need one” I followed her advice, I closed the MCQ testlet, opened the simulation one and waited and waited for her to finally bring me the paper. I thought I am going to scream at her that she made me wait that long. I had no space left to write. Plus, I already opened the simulation testlet, so I couldn't leave the room. I am sure she made me hold my hand for 5 minutes. I will never test in this Prometric center again!

Anyway, I did my job. Whatever happens, happens.

I don't know what I need more tonight, pain killers or drink. I vote for the second lol

Good luck to whoever is testing tomorrow!

[jenpen]

Well it sounds like you feel better about your exam than some of us. Fingers crossed you nailed it! Is this your last one? I think I’m going to start working on the ethics exam this week while I’m in limbo. At least that way, it’ll be done if I do pass by some miracle. And if not, I won’t have to worry about it again.

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

Wiley CPAexcel and NINJA 10 Point Combo

[rencpa]

Yes, BEC is my last one. However, I will lose FAR & REG if I failed today. OR I may get a Board extension because I had a looooot of medical reasons. I will see.

Which state you are in, Jen?

[jenpen]

Illinois. But I take the test in Missouri since I’m close to St. Louis and that center is closest. I always found that kind of ironic for some reason. 😂

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

Wiley CPAexcel and NINJA 10 Point Combo

[rencpa]

Well, I take them based on NY, but I am in TX because of my husband! I wish they provide CPA exams in Europe!

Time for me to go. I am going to be gone in the next one hour 🙂

Take care!

[jenpen]

Best of luck! I’ll be keeping an eye out for your passed/done post on the 19th! 😊

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

Wiley CPAexcel and NINJA 10 Point Combo

[rencpa]

Jennifer, one day I will post there. but I doubt it is going to be this month. Why? #1 I lost a lot of points on written communications. Not because I was not able to write, but because I did not feel like leaving simulations that I DID know how to calculate. However, it took a long time to finish them. My personal judgement, I did poorly on WC. #2 my 2nd testlet was TOO easy. It means, I did poorly with the 1st one (even though I thought I did okay).

I will get to the final line one day just like you will and each of us will. Some of us sooner, some of us later.

For now, it is time to pick up all the Halloween and Thanksgiving decorations all over the house. I went for the trip after Halloween then I was crazy studying after Thanksgiving. I have pumpkins all over! Finally, it is a Christmas time! And I do NOT care how I did with the exam. I care about spending some time with my family. The damage is done! However, my brain will do the job thinking how to approach the BEC exam the next time. This is how I am 🙂 You cannot stop my brain!

Enjoy your time or study for ethics. Whatever will make you happy!

[Author]

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