[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

[monikernc]

Payaza when is your exam?

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

[payaza2000]

Friday morning. Took day off tomorrow and Friday. Gonna cram tomorrow, and whatever left of tonight. Gonna do COBIT, COSO, Variance Analysis problems, and foreign exchange stuff. And do a writing sample. Also gonna try to translate the computational to conceptual, since I noticed this is one thing I struggled with unless it's very clearly spelled out, which it won't be on real thing.

Your is Saturday right? Good luck

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

[monikernc]

Saturday at 1. So ready!!
Good luck to all of us!!! You are my “comparable” pool. If we all go in and make the same mistakes we all pass right? HA!

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

[Anonymous]

Ok all, I am off to bed. Exam is at 9:30 a.m. and I plan on getting up early to review my notes one last time (and to cram FOH and VOH variance formulas). I will post later on tomorrow about my exam experience.

I feel more stressed about this exam than any of the others. If I pass, it ends a 2.5 year of journey of going back to school to get my 24 accounting credits (1.5 years) and then another year to study for the exam. I am out of school 12 years, married with two children and work full time, so it hasn't been easy (although my journey, compared to others on this forum, has been easy by comparison). This exam has been my Mt. Everest and I really hope that on 3/9 I get to see what it's like to spend a few brief moments at the summit. 🙂

[Anonymous]

Good luck Erika! I too feel this has been the worst test to study for. I hope we all pass!

[monikernc]

good luck erika. i went back to school for 1.5 years too after 25 years out all work in IT. so i know how much you put into this! it will be great! you've got this!
a prayer to St Joseph for all of us and then to bed for me.

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

[payaza2000]

Good luck Erika!

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

[FAR_WARS]

still have not mastered these factoring Q's

A company enters into an agreement with a firm who will factor the company’s accounts receivable. The factor agrees to buy the company’s receivables, which average $100,000 per month and have an average collection period of 30 days. The factor will advance up to 80% of the face value of receivables at an annual rate of 10% and charge a fee of 2% on all receivables purchased. The controller of the company estimates that the company would save $18,000 in collection expenses over the year. Fees and interest are not deducted in advance. Assuming a 360-day year, what is the annual cost of financing?

a. 10.0%
b. 14.0%
c. 16.0%
d. 17.5%

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

[Anonymous]

D?

Convert the fee to an annual amount (and it is always applied to receivables not amount advanced)
.02*100,000*12= 24,000 annual fee cost
100,000*.80 *.10= 8,000 interest cost on amount advanced
=32,000 total cost
-18,000 savings
14,000 net cost

14,000 cost/80,000 advanced = 17.5

Try to remember to apply the fee amount to the average receivable and convert it to an annual amount.

[FAR_WARS]

yes, D is correct. Thanks- repetition is key…

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

[Anonymous]

@Cortes123, Good luck on your last exam!!! You will be done after this one!!!! It feels weird not to have to study anymore and to actually have free time to do what I want with my family!!!
REG:77
BEC:73/74/81
AUD:58/76
FAR:74/84 and done for EVER!!!!

@ everybody, good luck and your upcoming tests!!!

[JMCAPASSO]

Just wanted to say thank you to everyone in here. Someone said in here earlier that Becker throws out some crazy caluclation questions. I took the exam yesterday and the test only makes you calculation maybe one thing.

I don't know how I feel. There was definitely more calculation questions than I remember before. I finished with 30 minutes left, so I hope that's a good sign. The WC in my opinion are a joke. I BS them most of the time and get a comparable. How does everyone gauge whether or not the testlets are medium or hard? I can never tell. I flagged about the same amount of questions on each one.

I thought I failed FAR, but got my best score yet. You'll see by my scores and attempts that I never know with these things. I just hope I guessed right and the ones that are thrown out I didnt answer correctly.

I am praying for a 75 because if i fail this one i lose REG and I do not want to take that beast again. Good luck to everyone.

AUD - 49, 66, 72, 77!!
FAR - 72, 73, 78
BEC - 70, 74, 79, I'm DONE!!!!!!
REG - 70, 76!!!! FIRST PASS

Don’t faint in the day of adversity. Remember your ABCs—Adversity Builds Character!!! - Andy Andrews

[FAR_WARS]

1)

Fernwell wants to buy shares of Gurst Company in two years. Fernwell uses a constant growth dividend discount model with a presumed dividend growth rate of 5%. If Fernwell's discount rate is 10% and Gurst's current year dividend is $20, what is the approximate price Fernwell will pay?

a. $400
b. $463
c. $420
d. $441

2)

Iota Corporation is using the PEG ratio to forecast its stock price in the coming year. The company's PEG ratio is 4x and its current earnings per share is $10. Growth is expected to be 2.5%. What is the projected stock price?

a. 100
b. 102
c. 256
d. 263

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

[monikernc]

q1.b 463

q2 a. 100

where are these coming from?

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

[MaLoTu]

Does anyone have a good definition and example of risk appetite? For some reason I cannot find anything really solid in Becker and I have a very loose understanding of it and how it applies to overall strategy, as far as the exam might test …

[Author]

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