[jeff]

Welcome to the Q1 2016 CPA Exam Study Group for BEC.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[user2701]

How in NINJA MCQ?

Do they have answers & explanation to each question.

I am planning to buy. SO thought to have all of your views before hand

BEC- 43(Feb'16), Retake-June 10, (Wiley text book/WQB/NINJA MCQ)
REG- TBD
FAR- TBD
AUD- TBD

[payaza2000]

@ErikaG28

Thanks. I was looking for it. One more thing to memorize.

FAR 5/6/2015- 84
REG 8/3/2015 - 87
AUD 10/25/2015- 69 1/20/2016 -75
BEC 2/26/2016- 80

Thank you God

[Anonymous]

@payaza no problem. When do you sit? My morale is in the toilet after Becker practice exam 2…

[MaLoTu]

Thanks, Erika for the Beta calc … Becker pretty much explicitly said they would give it to you, so that is weird (and horrifying!).

I have been reading the experiences of the present BEC takers and I have been noticing a common trend with IT being a heavy focus … What the heck do you think they will test? I am going to go back and make thorough notes of COBIT and EDI because that seems to be a bulk of it.

Also, does anyone have a good resource for cloud computing/security? Becker doesn't even touch this topic, but a birdie told me that it might be something tested.

@Erika … ETA – with REG I did horrible on the Becker practice exam 2 (like 56%) and passed with an 80 … chin up 😉

[Anonymous]

@MaLoTu, I have also seen where people are saying know IT and COSO. I am doing the same as you (knowing COBIT in side and out, and EDI as well). I don't have any references for security as it relates to cloud computing…maybe google can be our friend?

Thanks for the encourage about the second exam. I know Becker exams are hard but this is the worst I have ever done (got a 68%)…and I am so close to being DONE with this forever, I feel added pressure to pass the first time.

[Anonymous]

While on the topic of EDI, any good resources for the different phases?

I got a question in the beginning of my studies asking what phase header, footer is in. Transmission phase?

[MaLoTu]

@Dmb2stepper- I havent went back over the book to make notes … if no one replies, I will try to get you answer tonight.

[If I can, u can too!]

moniker, sorry to bother you in this thread (and my apology to the rest of you folks on this thread-plz ignore this comment). how is your study going?

quick question. i'm trending 95% in Ninja (i've done all questions), i should be done with the SIMs today. do you suggest i reset Ninja MCQ and start re-doing all questions? my exam is this sat (just like you!) i will be off rest of the week so got 3 more full days. i do have other stuff to review obviously like my notes and wiley problems, which should take like a day or so.

Licensed CPA since Apr 16
Order in sequence of passing
FAR-71,71,79
BEC-80
REG-72,77
AUD-56,72,72,72,80! Thank you, thank you, thank you Lord!
FAR/BEC/AUD: Becker & Yaeger lectures (Wiley & Ninja MCQs). REG: Becker lectures (Ninja MCQs).

[user2701]

how are you all studying for BEC ?

any tips? on how to make notes?

How are NINJA mcq?

BEC- 43(Feb'16), Retake-June 10, (Wiley text book/WQB/NINJA MCQ)
REG- TBD
FAR- TBD
AUD- TBD

[FAR_WARS]

1) Strobel Company has a large amount of variable rate financing due in one year. Management is concerned about the possibility of increases in short-term rates. Which of the following would be an effective way of hedging this risk?

a. Buy Treasury notes in the futures market.
b. Sell Treasury notes in the futures market.
c. Buy an option to purchase Treasury bonds.
d. Sell an option to purchase Treasury bonds.

2) A company has recently purchased some stock of
a competitor as part of a long-term plan to acquire the competitor. However, it is somewhat concerned that the market price of this stock could decrease over the short run. The company could hedge against the possible decline in the stock’s market price by

a. Purchasing a call option on that stock.
b. Purchasing a put option on that stock.
c. Selling a put option on that stock.
d. Obtaining a warrant option on that stock.

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Anonymous]

Farwars what are the answers? I am not sure but would go with:
1) a?
2) b?

[FAR_WARS]

1-
Answer (b) is correct because by selling Treasury notes for delivery in the future, the company can hedge increases in short-term interest rates. If interest rates increase, the value of the Treasury notes will decline, resulting in a
gain to the company. If the hedge is effective, the gain will offset the increase in the company’s interest costs.

Answer
(a) is incorrect because buying Treasury notes would put the company at greater risk with respect to increases in interest rates.

2- Answer (b) is correct because purchasing a put option on the stock allows the purchaser the option to sell the stock at the specified price in the future. Thus, if the price of the stock declines, the value of the put option will increase by an equivalent amount.

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Anonymous]

Quick question related to NPV when calculating the tax effect of depreciation. In my Becker practice exam there was an asset purchased for $150,000 with a salvage value of $10,000. Becker's answer used $150,000 as the basis for the asset for depreciation purposes…aren't we supposed to deduct salvage value first?

[Anonymous]

Another question…would be forever grateful if someone could explain this to me:

Bloom makes concrete lawn products. Bloom has allocated fixed costs of $2.00 per unit produced based on normal capacity. During a period of low demand, a salesperson has proposed accepting an order for 10,000 units. Bloom's normal capacity was 20,000 per month, and this 10,000 would be the only contract worked on during the month. Which adjustment should be made to the factory overhead control account at the end of the month.

A. Debit $20,000
B. Credit $20,000

I said debit $20,000…my rationale is that $40,000 in overhead was already applied but only $20,000 was used for production. According to Becker the answer is credit $20,000,

Can someone explain why?

[monikernc]

farwars – a for both?

hokinizeu – did you hit review phase? for audit final review i was in review and did not reset questions. i would not less than a couple of weeks out so stay where you are. if you are not in review try to do the rest of the questions. then do all missed by section probably chapters at this point. review you detailed progress report and hit your weakest areas. pound them.
then last two days just do 50-75 question sets a section at a time making sure you hit all sections. every few sessions do a set of 50 from all sections to keep up with everything. you must still read everything that comes up with the answer. especially if it is a question you have memorized. note the source when the answer appears. have your printed lists of the standards home pages so you can look at them and spot the one that is referenced in the answer. read the title. and go to your next mcq. rinse and repeat.
have you done the sims yet? read through and attempt but really review the answers that come up and understand what the question was asking and why the answer was correct.

good luck. i am around till noon on saturday when it is go time. finally!

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Author]

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