[jeff]

Welcome to the Q2 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

[mckan514w]

Hey AmorD- from reading this it looks like Hash is part of the input controls of the application process….
https://www.encyclopedia.com/doc/1O11-batchcontrol.html

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[aatoural]

I gave upon those controls i s matter of luck with those questions for me. All I know for sure is that for batch processing they do use the hash total for reconciliation purposes.

mckan thanks for the link. For some reason I just read that over an over and it does not stick. Maybe I am just exhausted.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[aatoural]

Assume the following facts about Martin Corporation:
The long-term debt was originally issued at par ($1,000/bond) and is currently trading at $1,250 per bond
Martin Corporation can now issue debt at 150 basis points over U.S. Treasury bonds
The current risk-free rate (U.S. Treasury bonds) is 7 percent
Martin's common stock is currently selling at $32 per share
The expected market return is currently 15 percent
The beta value for Martin is 1.25.
Martin's effective corporate income tax rate is 40 percent
Based on these assumptions, what is the current net after-tax cost of debt for Martin Corporation?

a – 5.1 percent.
b – 5.5 percent.
c – 7.0 percent.
d – 8.5 percent.

Explanation
Choice “a” is correct. 5.1 percent current net cost of debt.

This question gets me everytime, Any easy way you guys might have to understand it?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[mckan514w]

They state in the problem that the company can issue Debt at 150 basis points over T-bonds which are currently at 7%. So this essentially means your cost of debt is 7%+1.50%= 8.50% before taxes, the problem wants you to give them the after-tax cost so 8.50%*(1-.40)=5.1%

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[aatoural]

Thank you mckan. this was much better than all the computation Becker has.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Crunchtime]

Hey guys, I am studying for BEC again and my test is on July 11th. I have already done 1500 question for Ninja and about 350 for becker. I went through the new released questions of the medium and difficult that ninja has to offer. I read the becker book 4 times and did my notes twice. The ninja questions I am trending 81% and have a total average of 84%, I am planning on practicing some sims and writing portions next week.

At this point I just don't know what to do, I am far away from knowing everything but feel like I am never going to grasp all of this stuff. I almost passed this part twice already and this is my last opportunity before losing AUD. What should I do for the rest of the way?

Thanks Guys!!

AUD-77
BEC-70,73,68,74 SH##!!!!!, 80
REG-73,76
FAR -74,82

Ethics here I come!!

[aatoural]

Crunchtime it sounds to me you have done everything you can. Just keep it up and try not to stress as much ( I know that is very hard) and you'll get it this time.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[bilal1990]

@aatoural @cpa007 Thank you guys!!! I hope the best of you guys.

I am very comfortable on the writing part as i did well on the first try. I have down the format of how i will answer my question. when writing these essay be sure to remember that it's the technicality of the writing rather than the content that is weighted more. Another tip i received is to try your best to avoid giving absolute answer, always stick with “i believe this can be the best scenario…” and i believe it works.

I've had really hard time with managerial and cost accounting so i made flashcards for those formulas and thing i could not just remember.

@Amor D i totally agree with you. i hate the information chapter, but unfortunately i did see a lot of questions on my previous exam. Also, the least i expected was the XRLB crap!! had like at least 7 of those maybe they were pretest but still drove me nuts!!

Lastly, my previous exam contained a lot of COSO questions. So do not take that lightly! Please review that chapter once again. hopefully that isn't what gets you a 74. I am super nervous but i feel okay with the content so now just hoping for the best!!!

Thank you guys!!

[aatoural]

Thank you bilal!! and thank you for the tips on the writting questions.

I feel pretty good for cost and finally feel much better for variance analysis and forcasting. For IT I just hate those questions that is pure textbook concept with a word changed to make it incorrect. Those make me feel they are testing the ability of fuuture CPAs on memorizing things. Pff. Economics I feel pretty confident about. Financial Risk, hedges and options is a mix of feelings. Some parts I get but as long as it is not too much into detail.

I have done all HW for Becker, and repeated the ones I kept getting wrong over and over until I was able to udnerstand it (some are still up in the air, sadly). I also did the first final exam which I found very easy plus they had repeated many of the MCQ from the HW which I did'nt like, because although some were the tough ones I had to keep trying, I already got the concept texted on them.

Tomorrow I will do the other Final Exam. And keep on reading parts I still don't feel confident about.

Fingers crossed and a lot of tea intake!!!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[cpa007]

@ bilal1990
Thanks Bilal for you tips.

[Anonymous]

Hey,

Found a video with a mnemonic for the ERM framework components in an online Becker video.

https://www.youtube.com/watch?v=F4LiIJBb6ig&list=PLgFZBu3FDl7AXGtBUqw1rHd-LQac9V0Ce&index=1

[Anonymous]

All the best @aatoural!

[Crunchtime]

@aatoural, Thanks for the reply and this is what I am thinking but it is my last chance and I am extremely paranoid. There should be a point where you have studied so much that you have a great chance of passing. I just feel like with BEC it is a crapshoot for what kind of test you get.

AUD-77
BEC-70,73,68,74 SH##!!!!!, 80
REG-73,76
FAR -74,82

Ethics here I come!!

[aatoural]

Tahnk you arendrag!!

Crunchtime I wish you the best of luck on this one!!! Until then you can load up like me on chamomile tea, linden leaves and L-thetine to calm those nerves, I bet it is nerve wracking facing the same monster and loose and still perseveering. But you will conquer!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

@bilal1990, thanks for the writing tip. I will keep that in mind, that is to avoid using absolute remarks. It's good to be aware of that.

[Author]

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