[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

[Mary 2496]

Don't mind at all. I didn't know about this site back then. I was using Wiley and I failed three times. I then switched to Becker and passed on the next try. Have you tried BEC? BEC incorporates some of my weakest areas (economics, financial management, cost accounting), so I had a hard time with it. Passed in Jan. of this year with a 79.

[Anonymous]

I'm using Becker this time around and loving it….:

[Mary 2496]

While there are some things I don't like about Becker, I will say that Pete did a nice job with some of the BEC topics, which helped me put different concepts into place in order to pass BEC back when I did.

[Anonymous]

Since this is a retake for me I'm just reading the book (loaned to me) and doing MCQ. The book is a lot more concise than Wiley. I'm not doing the Becker lectures.

[Mary 2496]

The lectures did help me to iron out concepts I was having trouble with, which was nice. I agree – I also think the Becker book is more concise in BEC than Wiley's.

[Anonymous]

I have access to lectures if I don't understand something but want to spend most of my time with MCQ.

[mishitacpa]

Took test today…it's hard to predict how well I did. There were some questions that I guessed..

REG-78 Expired; retake 11/26
AUD-2x74- 10/18 waiting
BEC- 66, 10/03 waiting
FAR-Jan '15

[Anonymous]

[Anonymous]

Zack! How'd it go?

[Anonymous]

Question:

What is the main function of a steering committee?

A. Resources

B. Management

C. Leadership

[Gabe]

Goin in at 1230ish…looking over some topics briefly…COSO and IT :)….see ya on the other side!

CPA, CFE
CISA- Experience will be completed by August 2016

[schizokitten]

I took BEC for the first time yesterday.

First testlet: not bad at all, felt super confident about everything, maybe 2-3 nonmath questions I wasn't 100% on. I felt like a beast.

Second testlet: insanely hard. I spent twice as much time, maybe more on this one. A lot of multi step calculations , nonmath questions almost entirely about topics I was unfamiliar with.

Third testlet: much easier than the second, but still not very confident about a lot of the nonmath questions. Somewhere between the difficulty of the first and second for me.

Although I know I really could not have done well on that 2nd testlet, I'm hoping for a pass… if I did so great on the first testlet, I wouldn't fail… right? (crosses fingers)

Writing I have no idea. I really don't understand how it's scored, so I wrote up little memos but I guess I won't know how that went unless I failed and can get a look at a detailed score report.

Good luck everyone!

REG: ***92*** (5/14/14)
FAR: ***83*** (8/17/14)
BEC: ***89*** (10/3/14)
AUD: ***86*** (2/22/15)

[Letsdothis]

Morning!

Can anyone help out with the steps/formula for Money Market Hedge – Payables (excess cash)?

B6-45 –

Duffys Pinata's has a payable due to its Mexicans suppliers in the amount of 1,000,000 pesos in 90days. the current exchange rate is $.08 per peso and Mexican interest rates are 16%. Duffy has $100,000 in excess cash and elects to use a money market hedge to mitigate transaction exposure to exchange rate risk.

How would you calculate? I am not understanding Becker's example

Thanks in advance

We all have the ability to be whomever we want to be in this life. It's just a matter of DETERMINATION, PERSISTENCE, PATIENCE and the WILL to follow through. Never give up!

[smsimpson77]

Can someone please explain to me why when you're calculating the depreciation tax shield sometimes (it seems) working capital is included in the cost of the depreciable asset and other times it's not? I just did two similar problems, in one problem I included the cost of the asset, shipping and installation, and the increase in working capital and used that number to calculate the tax shield. I did the same thing in the other problem, which was asking for the annual discounted depreciation tax shield, and got it wrong because the increase in working capital shouldn't have been included.

I would greatly appreciate it. I'm getting very frustrated.

[Gabe]

Took bec today… First testlet was OK… Second and third were hard. We'll see, I don't feel too confident, but I don't think anyone is haha. On to FAR in November. Good luck everyone!

CPA, CFE
CISA- Experience will be completed by August 2016

[Author]

Replies