[Zaq]

So I have 4 days left until my BEC exam this Saturday…

As the time ticks away, the reality that this could be the last four days of studying for this exam is quickly sinking in. And in doing so increases my desire to put this away and knock the exam out the park.

For people who have passed BEC or already taken the exam, what would you advise to a person in my situation? So far:

1.) I’ve been studying for the past week and a half doing non-stop MCQ’s from both Wiley and Becker. Scoring average of 74% in Wiley and 82% in Becker.

2.) Created flashcards for all the formulas. I’d say I have 90% of them down, but some of the formulas are really wonky and difficult to memorize and apply (B6 stuff)

3.) I have a very strong understanding of B2 and B3.

4.) B6 seems to be my weakest Chapter.

Etc. etc.

I have to pass. Failure is not an option. But I need all the help I can get.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[Whopper Warrior]

The pv of annuity is a finite pv of a perpetuity. The pv of a perpetuity being (pmt / r), which explains the (/r) of the formula. But now we need to explain (finite) our numerator which is C * (1-(1+r)^(-n))) I am no mathematician and don't claim to be but the negative exponent is equivalent to 1/(1+r)^n so now our numerator formula looks like C * (1-1/(1+r)^n or C – C/(1+r)^n. So when we put it together we get

(C – C / (1+r)^n) / r )

(Investment – pv of investment as a lump (non perpertuity))/r

If you notice C / (1+r)^n is nothing more then the pv equation. We do C – pv of C to serve as a limiter (to make finite) of our perpetuity equation. If this explanation confuses you, I am sorry and do what works for, especially this close to the game, you but I find being able to take a complicated equation and get it to its bones; or relate to what you do know, really helps.

I also just did that in roughly 20 minutes using Google and testing the equation. I sourced:

(1) https://www.investopedia.com/articles/03/101503.asp

(2) https://www.mathsisfun.com/algebra/negative-exponents.html

And used this formula: (1000-1000/1.05^5)/.05 in Google Search to get 4239.476 which matches the investopedia answer. I have not done more extensive testing but it should work for all ordinary annuity pv.

@mmp3 – I hope that the problem you had was a “test” question, because that sounds like one I would flag and skip then get back to and either try to solve or do an educated guess depending on where I was time wise for the testlet.

Edit: I went into excel and it checks out. The only difference is the pv formula in excel spits out a (-) while mine spits out a +. Make sure to use proper (parenthesis) and if you test using the pv formula make sure your fv value is (-negative).

ALL 4 parts passed summer 13
Ethics October 13
Experience (waiting)

Becker Only

[Anonymous]

A friend on mine told me that on the written section of the exam he found an answer straight out of the appendix or research material section. He said that his live lecture teacher told him he could simply copy the response if he wanted and paste it there. Not sure how this would play out with he grading but that was one thing he mentioned. I wrote out my three responses with my own thoughts on the subject matter, completely winging one of the responses.

Understand basic economics and cost accounting. There are numerous IT questions included as well. Just use logic when completely lost on a question. I feel like BEC is the one exam where you can think through some of the problems without knowing the material completely.

[oilgaslb]

There's an appendix/research section on BEC? (stupid question?)

[Anonymous]

I thought there was a reference material/research appendix section for BEC for the written response section. It's been over a year since I took that exam so I could be wrong. Someone who has taken the exam more recently than myself will have to clarify.

[Zaq]

@SeattleAccountant: Well, being unable to post for almost the past 24 hours… lol, I got a lot of effective studying done. I am proud to say that I reviewed B6 again and I am now a master of all things hedging, foreign currency, and wonky earnings formulas. I only skimmed the Internal Auditing Section tho' since Peter said it's just a one and done kinda thing. Gotta' keep chugging.

@MintsRGood: They were the ones I just mentioned above, but now I feel very confident in them! Went into it with a can do attitude and now I'm back to my normal progress test, infinite MCQ grind!

@mmp3: Great idea. I created a formula cheat sheet out of my formula notecards lastnight. Posted it on my wall near my desk so when I start zoning out, I'll be staring at the formulas, lol. I promise I don't use it to cheat for HW questions tho'.

Thanks everyone else!

3 days and counting until the exam. You guys definitely helped with my motivation. I use to be very pessimistic about taking the CPA exam; especially with FAR and REG, but I've realized I was thinking about it all wrong. Instead of pouring my energy into my lack of confidence of failing the exam and not knowing the answer, I should put my confidence in my work ethic and the fact that I'm working my butt off to understand this material. I'm doing literally everything in my power to squeeze every ounce of this BEC information into my brain, and that's all I can really control!

I'll leave the rest up to the CPA Gods once I walk into the exam.

Thanks again guys. 🙂

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[Zaq]

double post

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[SeattleAccountant]

@Inferno

Way to go dude! I also completed B-6 last night, it does help viewing it second time, doesn't it? Keep calm, stay strong, and you will be done!

I had been doing this method for past 3 exams and works out well albeit cumbersome and maybe inefficient at the first glance. I remember in AUD lecture on transaction cycles fully sunk-in only after 3rd (!) video viewing, no kidding!

Already told my family that in 3 days I will be celebrating ….X-mas… it just feels like it. Hopefully, I do enough suffering next a couple days and get passing grade so X-mas continues on 🙂

We CAN and WILL pass BEC!!!!

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[Zaq]

Yeah, we got this Seattle! =D

I just scored at 85% on my 100 MCQ Wiley Exam. Super awesome. I can see my average score shifting from high 70's into the mid 80's. With Becker, I'm scoring in the low 80's still. Gotta' hit that high 80's mark (that magic mark that helped me to get a 91 in Auditing).

I've also finally gotten to the point where understanding the “entirety” of a question is starting to flow much easier to me. Instead of worrying about memorization of formulas now, I can focus on what the question is asking i.e. the concepts behind the formula giving me a better broad picture.

3 days 'till Christmas! FIGHT ON.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[SeattleAccountant]

@Inferno

Hope you are wrapping up and getting into the mode!

I got done with B6, 2013 aicpa.

Today taking both finals.

Still have some questions that while I know how to calculate them, so annoyed by them and don't give enough attention.

Vids for you, just in case. Becker did not cover multi-CM 🙁

https://www.youtube.com/watch?v=NJrrYLbsrME

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[Author]

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