For FAR and AUD, I had a pretty good plan and stuck to it. I watched the videos, wrote notes, did MCQs and rewrote notes. I am doing the same thing for BEC, except I haven't rewritten the notes yet. I feel like the material is all over the place and I am missing so many questions that my notes are growing to the point I'm unmotivated to rewrite them.
So far, I've seen all of the MCQs except for about 150 of the Financial Management ones. I'm working all IT questions today.. then will do like 40 MCQs covering all sections (just to stay fresh). I'll probably rewrite the notes tomorrow morning, then focus on the Financial Management questions. Beginning Monday, I'll do sets of 20 MCQs encompassing all sections, with every other MCQ set focusing on trouble questions. I test Friday, so I'm hoping this shows improvement since I am not confident with BEC like I was with FAR and AUD. Weird given this is supposed to be the “easiest”…
I also had the same issue with the confusing Roger section on OH Variances. The different way the questions word things can throw you off to. Anyways, from what i have seen, when questions say spending variance it means the same as rate variance.
Variable OH Rate Variance: AH x (SR – AR)
Variable OH Efficiency Variance: SR x (SH – AH)
When determining SH, I always think to myself what that hours Should Have been (SH = Should Have).
For the question 25(10 – 8) = 50 favorable because less hours were used.
@CPYay I agree with you on the material feeling like it's all over the place. That is definitely what makes BEC challenging. I find myself second guessing what I should be studying next.
I feel like you are on the right track. My biggest lesson learned from my first battle with BEC was that I spent too much time studying difficult questions. I had notes floating around everywhere and should have stayed focused on the core concepts.
Last time I only made it to 72% completion on the Ninja MCQs. As you can see it cost me my last section. I know for a fact that if I would have made it to the review phase and rewrote the Ninja notes, I would have passed.
All that being said, DON'T BE DISCOURAGED! You can see the finish line!
@ CPA or DieTrying – That is the main reason I hate Becker, you really think you know something doing the MCQ's but really its just because someone just told you the answer. Its painful process but you got to nail the concepts. I look at material in waves. Wave 1 review video/text, wave 2 do MCQ's, wave 3 do some research on the topic. I think the thing that helps is I put SPACE between the waves that lets it sink into my long term memory. It takes me 2 waves to master the easier topics and about 5 waves to master the harder topics.
Can someone explain the treatment of variable SG&A for Absorption Approach versus Contribution Approach and how they differ please?
I'm using Becker and on page B2-5 it seems like the text contradicts itself. First it says, variable SG&A is included in the total variable costs for the CM calculation, the pass key states that variable and fixed SG&A are period costs (not product costs), then the income statement examples show variable SG&A included in the CM calculation.
Unless this whole page is telling me that variable SG&A costs are a period cost that are included in the calculation of the contribution margin, which seems strange.
I think you're confusing what the contribution margin is.
CM = Rev – ALL VARIABLE COSTS
B2-5 in Becker just tells you the differences between period and product costs under each approach. If you look at B2-4, it's not saying that CM = Rev-product costs, it only says CM= Rev – variable costs.
The point of them telling you the differences between period and product costs under each approach is so that you know that product costs under absorption are larger since it includes Fixed MOH.
Good luck everyone with your study plans today! I'm using a hybrid wiley/ninja method of redoing the excel class and then cementing with ninja mcqs-finishing planning and measurement today so I should reach final review by this afternoon! I threw taking notes and lectures out the window and am focusing on reading and concepts-it worked for FAR so here goes nothing.
Reading Chapter 2 Econ of ninja textbook today. 100 pages to go. I listened to the NinjaAudio twice already. Going back to text, just going to read text take mental note of the major concepts then go back and take notes. I think trying to grasp everything by reading it once is a little unrealistic.
@LIZZ I definitely agree. I've looked at the Becker text about 3 times now and I think I finally have a good grasp of the major items. The MCQs then help me with the minor details.
I know it works for some people to just do MCQs over and over again, but to me that's just memorizing the answers. Doesn't really help with BEC when there's so much algebra involved. Like a question may ask for COGS but you may have to go through RM, WIP, and FG in order to get the number. Or with Residual income formula, knowing that it equals Net Income-required return just isn't enough. You also need to know what required return is, and that equity is also equal to A-L…
@Nathalia – I agree w u 100%. Ive never been the person that can do 100's of MCQ's. I start to memorize and not learn the concept. This way sucks but honestly there is no Easy way around the CPA.
Anyone having success with the Financial Management MCQs?
They are destroying me. There are so many variations to the calculations and every problem has at least one or two exceptions to the formula, so I get it wrong anyway. If it wasn't for this section, I'd be somewhat confident.
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