[Keely]

UGHHHHHHHHHH. I always thought I was pretty decent at Finance, but I just cannot seem to get the right answer on these detailed word problems in Becker. I did pretty well with the HW, but then I went back and studied all week and did the optional practice MCQs just now (all 115 of them) and got a 73. And the ones I didn’t know…I really had no clue. The past two weeks of studying, by the end of the week, I really felt like I understood the material quite well. This…no.

Is this section a big portion of the exam? And does anyone have any advice or other study materials I should be looking into? This section is really kicking my butt. Thanks!

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[Anonymous]

I always checked the answers on each problem as I went, not when I was completely done with a section.

If I didn't get it right, I read the answer and then went back and reworked the problem correctly. Once that was completed, I generally knew the problem. Some were really tough but you can do it. Just keep reworking it and try to learn it so that you can explain it to someone else.

Oh and if I were you I would fast track it to a book store and buy the Wiley test bank in written form. I like written over the online as it goes anwywhere and is never down to technical difficulties—even when you spill coffee all over it.

[Keely]

Thanks for the info! What I've been doing so far is watching the lecture in Becker, then immediately doing the MCQs for that section. I usually score in the mid-70s to low 80s. Then I do that again for the next lecture/MCQ portion. Over the next few days, I reread the book, take notes, then rework all the MCQs again. Then I usually score in the 90s. I also do the Wiley questions somewhere in there too.

I think I have a pretty good grasp on NPV, IRR, etc, but I am NOT understanding the detailed word problems about increase/decrease in cost of A/R, days sales outstanding, cost of preferred stock vs. common stock vs. retained earnings, it's all just running together and sometimes I can't even figure out which formula to use because I have about 7 billion of them floating around in my head.

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[Maverick]

I have to retake BEC. Studying finance and cost accounting (wait til you get there if you haven't) is like studying ants. The questions on the actual exam (at least the ones I had) are not as confusing as Becker's. Also, I remember quite a few finance and cost accounting on the exam. Be aware though that your exam may be different in terms of the type of concepts it will cover. Some candidates say they had a lot more calculations while others say they received more theory questions. This time around I purchased Wiley CPA Exam Review book. However, it is not the test bank so there are fewer practice questions. Wiley has concepts that is not covered in Becker, vice versa.

Retaining the information is difficult. I wish I had a photographic memory. Good luck on your exam.

F - Passed...THANK YOU, LORD. GLORY TO GOD.
B - Passed...THANK YOU, LORD. GLORY TO GOD.
A - Passed...THANK YOU, LORD. GLORY TO GOD.
R - Passed...THANK YOU, LORD. GLORY TO GOD.

Ethics - 95

Licensed CPA

I COULD NOT HAVE DONE THIS WITHOUT MY LORD. THANK YOU.

"According to your faith will it be done to you." Matthew 9:29

[Anonymous]

I thought the cost accounting was somewhat straightforward—perhaps see Wiley's explanation of it. I think that the visual depiction of the variance (but I am a visual learner) was outstanding.

I used Wiley's printed exam book, it had plenty of questions in it.

I hesitate to tell you because I too was bogged down in all the WACC, ratios, variances, etc. thinking that they would do the thing where you have to back into the numberator or denominator just to work a simple ratio. Nada. Was elementary in its presentation compared to Wiley's questions. Almost disappointing….so much so that I was afraid that I might have really screwed up and got the simple sections.

I would definitely know COSO very well (Wiley didn't cover it well enough) and IT very well. Just keep working the computations, I promise they will come to you.

[Maverick]

CPApending, replying to “I used Wiley's printed exam book, it had plenty of questions in it.” The number of questions in my Wiley book does not compared to the test bank that has thousands of questions….maybe mine was made in China. ( No offense to anyone Asian. I'm Asian.)

F - Passed...THANK YOU, LORD. GLORY TO GOD.
B - Passed...THANK YOU, LORD. GLORY TO GOD.
A - Passed...THANK YOU, LORD. GLORY TO GOD.
R - Passed...THANK YOU, LORD. GLORY TO GOD.

Ethics - 95

Licensed CPA

I COULD NOT HAVE DONE THIS WITHOUT MY LORD. THANK YOU.

"According to your faith will it be done to you." Matthew 9:29

[Anonymous]

Right….I have actually never seen the Wiley online bank. I've only used the printed books (I don't trust that computers won't be down during my final weekend of review). 😀

I would say that each the Wiley books have 600-1100 questions. I think REG has 1,100. I found that to be much more than enough to pass the exams thus far for BEC and AUD.

[Keely]

I didn't really like the Cost section when I went through it, but it was beaten into my brain so much that I would KILL to go back to it now! I truly hate this Finance section. CPApending is right, the only way to get better is to keep reworking problems. I've been at it for 5+ hours today and I do feel like I'm making some progress. It's just slow going.

Good luck, Maverick! When's your BEC retake in April? My first go is the 24th.

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[msgolds]

When I took BEC, I wasn't hit too heavily with the finance stuff. But I'd be sure you know WACC, NPV, Discounted Cash Flow Method, and the big ratios like Asset Turnover, AR Turnover, ROA, ROI, etc. Still; I'd say the most important things to focus on for BEC are COSO, Cost Accounting, and IT.

BEC - 90 PASSED
FAR - 84 PASSED
AUD - 93 PASSED
REG - 84 PASSED

I DID IT!!!!

Using Becker Self-Study

"If we were put here to carry a great weight, then the very things we hate are here to build those muscles."

[Keely]

@msgolds, I am on the IT section now. I find it to be absolutely awful. How did you remember all the definitions or narrow down what to focus on? I can't figure out a way to do that yet. I said I'd rather go back to cost accounting last week, now I'd rather go back to finance. 🙂

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[msgolds]

@KeelyDare1, The IT stuff is really difficult to zero in on because of how random it all is. I don't feel like Becker did a very good job covering that section either. The lecturer glossed over a lot of areas that I thought to be pretty important. I know the lecturer skips over the whole appendix, but I would make sure you know all that. I got 2-3 questions from there alone. But really, just like any other section, the key is just to work questions.

BEC - 90 PASSED
FAR - 84 PASSED
AUD - 93 PASSED
REG - 84 PASSED

I DID IT!!!!

Using Becker Self-Study

"If we were put here to carry a great weight, then the very things we hate are here to build those muscles."

[Keely]

Ha, I was just about to say “Pleeeease don't let the appendix be that important!” It's the one I hate the most. Oh well. I have gone through all the MCQs in Becker twice. Do you recommend I know the general definitions of all the items covered or should I go more in depth? Sometimes I think I'm not doing enough with it. It's just so boring and I've never heard of a lot of this stuff. You got a 90, so you must've done a pretty good studying job! Thanks for the help 🙂

BEC: (4/2012) 88
AUD: (5/2012) 91
REG: (8/2012) 82
FAR: (1/2013) 78 🙂

VA CPA #42010

[msgolds]

You don't really need to know more than the general definitions, except when it comes to things like internal controls and the differences between batch and OLRT processing and stuff like that.

BEC - 90 PASSED
FAR - 84 PASSED
AUD - 93 PASSED
REG - 84 PASSED

I DID IT!!!!

Using Becker Self-Study

"If we were put here to carry a great weight, then the very things we hate are here to build those muscles."

[Author]

Replies