[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for BEC. 🙂

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

[rserrao24]

@Motiani I took BEC for the second time on the 7th. I averaged 71% in NINJA and was trending around 87%. I also took the first Becker practice exam and scored a 72%. Didn't feel great walking out of the exam, but hoping for a 75. Definitely focus on concepts and don't spend too much time on those long multi-step calculation problems.

[jelani1911]

After my exam this week i'm moving straight into REG. My question is, how good is Roger for REG, should i stick with Roger since i'm already using it or use Ninja 10 point combo?

[Anonymous]

I tried to practice for written communications but it's just not going well. What I am doing is reading every single solution to the sims available in Becker and hoping that the structure and some of the info will stay with me. Figure if I focus on multiple choice and know the concepts I will be able to come up with a coherent memo at exam time.

[CPYay]

@jelani

I have used Roger videos and the book for all my exams so far. I supplement with Ninja MCQ and Ninja Audio/notes if needed. So far, no complaints. I take REG next too and will be following my same routine.

@afrieband

Roger recommends the following:

Tell them what you're going to tell them
Tell them
Tell them what you told them

In other words… a three paragraph format is typical. Thank them for their question about blah blah. Explain the importance of the question.

Go into detail for the answer, providing concepts you recall form the text/MCQs.

Summarize and thank them again.

I haven't practiced them, but read examples in the text. From what I've read on this forum, that should be plenty. It's more important to know the concepts and material.

[jelani1911]

@CPYay

Thanks a lot!!! placing my order now for REG with Roger.

[QueenCPA]

Can someone please explain why its D, confused!

You walk into a little boutique in the nearby mall. As you walk up to the cash register with an item that you wish to purchase, you notice that there appears to be only one employee in this small store. With a limited number of personnel in the store at any given time, what would be the best internal control procedure to provide a reasonable guarantee that all cash sales are being rung up properly and cash put in the cash drawer?

A.
Carefully screen all new employees

B.Require that all sales be rung up on the cash register using barcodes

C.
Increase the minimum number of employees at the store at any given time to three

D.
Post a sign in a visible spot near the checkout counter that states, “If you do not get a receipt, your purchase is free.”

The correct answer is D.

[afrieband16]

@QueenCPA someone already answered this exact question – here was their response

“Question regarding the sign: It forces the employee to issue receipts to customers, thus running the transaction through the register. Sure, the employee could give items to friends, but this would eventually be caught when inventory counts are completed. If there’s a discrepancy and no supporting documentation, fraud is a likely cause. As the answer states though, having 1 employee is a challenge in itself.”

[ng3926a]

I just took the Becker Exam #1 and literally every question I wanted to give up on the exam and enter random answers, but I stuck to it. Somehow got a 71. Every Becker exam practice test I've taken I've gotten between a 55-68 on the first try… Hopefully this means that I'll do decently on the actual exam. Sadly most of the questions I got wrong were calculations based so I guess I need to go memorize that 6 page list of formulas and beat to death those practice mcqs.

I still have 12 days to review (4 of which I have all day to study) so hopefully enough will soak in for at least a 75 on the actual exam.

Good luck everyone! I'm rooting for all of you to pass! 🙂

[ng3926a]

Also, for the person above who asked about the WC and how to practice- I think what I'm going to do is go through all the becker WCs, read the answers and write down the buzzwords for each topic. I hear it doesn't matter if your answer is correct, as long as it's written properly and has the buzzwords, you're good to go. When it comes to formal writing, I do well at work and my clients don't think I'm a dummy (hahah don't go based on how I write on here), so I should be ok in that part.

[CPASF1]

Can someone please help me with the thought process with this question really slowly, step by step. i am having the worst trouble with these type of questions, even after looking at the answer i cannot understand why a certain # goes where and why it is multiplied by that number. does this have to so with the order of sales or budget? i am so confused, thanks!

Card Bicycle Co. has prepared production and raw materials budgets for next year. At the end of this year, the finished product inventory is expected to include 2,000 bicycles and raw material inventory is expected to include 3,000 bicycle tires. Each finished bicycle requires two tires. The marketing department provided the following data from the sales budget for the first quarter:

January February March
——- ——– ——-
Expected Bicycle Sales (units) 12,000 16,000 18,000

The company inventory policy is to have finished product inventory equal to 20% of the following month’s sales requirements and raw material equal to 10% of the following month’s production requirements. In the January budget for raw materials, how many tires are expected to be purchased?

[Anonymous]

@CPASF1-you have to start with the sales and finished good inventory to see how many bicycles have to be produced…Then you have to see how much raw material you need to get to the number you got in first step

The formula is

Budgeted sales
-beginning finished good inv.
+desired ending inventory
Total needed for production

Same with RM ….

So, beginning Finished good inv in January is essentially ending in December, given 2,000 bicycles. Desired ending inventory in January is 20% of February sales requirement or 3,200

Thus bicycles to sell in January is
12,000 (budgeted sales)
-2,000 (beg inv)
+3,200 (desired ending inv)
13,200 bicycles to produce

Now to produce those bicycles how much raw material do you need?

beginning rm inventory is 3,000 tires
desired ending rm inventory is 10% of following month's production requirements -February's production requirements are 16,400 bicycles or 32,800 tires

Thus
26,400 tires need for production (13,200*2 from above)
-3,000 beg tires (given)
+32,800 tires (desired ending inv)
Total tires expected to be purchased is 56,200

Let me know if it's close to what the answer has to be 🙂

[CPASF1]

@ anyatver, the answer is: 26,680

this is how they did it:
January production: 12,000+ (.2* 16000) – 2000 =13200

feb production: 16,000 + (.2* 18000) – .2 * 16000= 16400

january purchases= 2* 13200 + .1* 2 * 16400 – 3000

i especially don't understand why they .2 * 16000 in the feb production
and also why in the january purchases part it's * .1 and .2

[Anonymous]

I guess my math got the best of me…

It says that ending finished goods inventory is 20% of following months sales-therefore .2*16,000 and for raw materials it's 10% of following months production .1*(2*16,400)-you need two tires for each bike…

[jeff]

Test Your Might.

To keep the answers all in one place, please post in the FB thread to enter.

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

[JMG]

Is it possible to pass BEC on 5 weekends of studying? Busy season is not allowing me more than that unfortunately. Wondering if I should give it a shot or push it back to next quarter.

[Author]

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