[jimboace88]

Really about pushed to the brink by Becker right now. I don’t know how I didn’t realize the first time through that these questions are so AMBIGUOUS that they are impossible to solve correctly without sheer luck!

A question asks for basic earnings per share. Gives me information about dividends PAID (not declared) on preferred stock. I couldn’t come up with the right answer for the life of me, so I clicked the closest number. I was “wrong.” However, the way they came up with the answer to the question was by subtracting preferred dividends paid from net income and dividing it by weighted average capital stock outstanding.

I do not need this 3 days before my exam. How am I supposed to review properly when my review materials and the questions that are supposedly based on the materials conflict on how something is calculated?!

Just to be clear, Becker says to calculate income available to shareholders in this way:

Net income

(Dividends DECLARED on non-cumulative preferred stock)

(Dividends accumulated on cumulative preferred stock)

---

Income available to common shareholders

Nowhere in the question does it give the faintest inkling of whether the preferred stock is cumulative or not.

Pretty sure there could be smoke coming from my ears. I am giving a big M.F. to my screen and textbook on a constant basis.

FAR 07/27/11 - 87
AUD 10/01/11 - 85
BEC 11/15/11 - 87
REG 01/03/12 - 92

[thechamp26]

Settle down man – you're freaking out. In order for a dividend to be paid, it has to be DECLARED first, right? It sounds like that is exactly what you should be assuming. If you think the actual exam is clear in terms of what they are asking for, you're wrong. The questions are worded in a way where you have to know the material well, or you won't get the answer. Remember, it isn't choosing a “right” answer, it's choosing the BEST answer.

[IwannaBaCPA]

Ok, so I don't want to make you angry or anything, BUT you seem to be spending more time on this forum creating new threads and freaking out about your exam than you could possibly be spending focusing on your studying. I think you are really getting yourself too worked up and if you don't figure out how to settle down, you WILL totally freak on exam day! You WILL not know all of the answers, but neither do the vast majority of the rest of us…you WILL see things on your exam you have no clue about and there WILL be ambiguity in many of the questions, but if you want to pass, you WILL have to just deal with it like the rest of us had to…

I am sorry to be frank, but I think you are spending too much energy freaking out and that is NOT going to help anything…

My 2 cents that I doubt you want and know you didn't directly ask for…just reminding you that WE HAVE ALL BEEN THERE!

BEC: 79 - April 2011
FAR: 78 - May 2011
AUD: 81 - May 2012
REG: 79 - October 2012
Ethics: Passed - March 2013
I am finally DONE!

[Anonymous]

Seriously, if you are really that concerned about it, and are finding that you are not where you want to be with your review, then just move your test date, adjust your study plan, and focus hard on learning the material and working hard to get yourself to that level of understanding where you feel comfortable taking the exam.

This is NOT an easy process. If it were easy, everyone would be doing it.

It's not Becker's fault that YOU don't understand the material. It takes TIME and HARD WORK to really go through all the MCQ and really try to understand the concepts, and to really learn how to apply the concepts in different types of scenarios. And if you still aren't understanding the material, then its your responsibility to seek out other supplementary materials, and work even harder until you DO understand the material.

ATTITUDE IS EVERYTHING!

[jimboace88]

Yup, definitely shouldn't have bothered posting. I happen to be studying 7-10 hours a day, taking extensive notes, and doing all the MCQ/sims over again along with progress tests. Whether or not it sounds negative, there ARE blatant discrepancies between what's covered in the material/lectures and the level of detail in the questions.

I really do think I understand the concepts, and maybe it's just my lack of focus after studying for so many hours (although apparently I'm not doing that because I spend all my time on here).

This will probably be one of my last posts unless I'm helping another person out. Thanks anyway.

FAR 07/27/11 - 87
AUD 10/01/11 - 85
BEC 11/15/11 - 87
REG 01/03/12 - 92

[thechamp26]

There are discrepancies because Becker can't teach you to think outside of the box. Becker can't lay out every single situation possible for every topic possible. Your job is to know the topics well enough to know what the question is asking, be able to put different concepts together, come up with a solution if the answer isn't so cut and dry, etc.

Just going by your initial post, it seems like you are focusing more on memorizing information opposed to understanding the information.

[Minimorty]

This thread is really funny. I am cracking up. Thanks for the laugh.

[yankeeaccountant]

jimbo,

sounds like you are diligent in your studying. I am not working myself and I am jealous of your time. those are long hours you are putting in ! since you are so close to your first exam, you are probably a bit burnt out. I used Becker as well. One thing that helped me out with discrepancies or what appeared to be for me, I used the Becker website to submit questions. It can be really helpful to just go to the source . And they are really good about getting back to you fairly quickly.

I went back to FAR and saw that they defined it as preferred dividends declared in the period (whether or not paid) and then on the cumulative, it said dividends for the period whether or not they were declared. I got this from page 36 from the 2011 book. Hope that helps.

Best of luck to you on the 27th!

[jimboace88]

@yankeeaccountant, thank you. I appreciate your effort to add something constructive AND not insulting to the thread. I'm glad you cleared that up for me and I will definitely use Becker's website as a resource in the future!

FAR 07/27/11 - 87
AUD 10/01/11 - 85
BEC 11/15/11 - 87
REG 01/03/12 - 92

[yankeeaccountant]

no prob! kill it on the 27th!

[MOMCPA2B]

You put your left foot in.

You put your left foot out.

Then you shake it all about.

Oh nevermind thats the hokie pokie. But you should try it. It will make you feel better at least but I dont know if it can help you with your review.

You will do great!

I cant wait for this to be over.
AUD-7/25/11-77
BEC-11/27/11-Failed(UGH)Back to the drawing board
REG-2/27/12
FAR- Aug 2012

[kb24]

@jimbo

I understand where you're coming from. When I started this process I was just using Wiley. Wiley's strengths are the cost and the questions, but the text is very summarized. Inventory is one of the early modules in FAR, and I remember being very annoyed by some questions on LIFO and precious metals that hadn't been mentioned in the text at all. It was at that point that I realized I needed to consider the text MCQ as an additional learning tool rather than solely as an assessment of my knowledge. One of the reasons Wiley is so abbreviated is that it is assumed you have also read the associated standards. I'd read the one on inventory, but some of the obscure points, such as the ones covered in the frustrating questions, hadn't stuck. Reading the answers, though, helped me retain this info in a way that repeated readings of the text or standards wouldn't have accomplished. I had to continue with this mindset even after I obtained a copy of the Becker text. While it was easier to read than Wiley and often had more expanded explanations, it didn't cover everything either.

While I know you weren't happy about how some of the other posts were worded, the information they contained is valid. When you think about it, you are being tested on material covered in 4 college courses by a total of 97 questions of which only 78 count. It doesn't seem like a lot, but the way the AICPA manages to do this is by creating difficult questions that often test more than one topic. The questions are often worded in a way that provides the information needed but in an indirect manner. This requires you to truly understand the material in detail so that you can apply it to the given situation. For the most part, the wording you see in questions from Becker and other review courses is typical of what you'll see on the exam.

If you feel that you know the material well overall, take a 5 minute break and move around when you get a question that frustrates you. Even a small amount of physical action can help clear the brain. If you don't feel well prepared, consider delaying your exam by a few days. When you take the exam, keep in mind how important time management is. Set yourself a schedule that allows at least 1 1/4 hours for the SIMS and stick to it. It's better to miss one or two MCQ because you didn't have time to do them than to not finish the SIMS.

Good luck.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[yankeeaccountant]

ok…MOM2BCPA—-you are too funny. I think being a kid in your house is probably great. I always tried to keep a laugh tucked in here and there with the kids…from reading your posts, it seems like you have a great disposition. Thank you for a much needed laugh on the boards—-and much needed relief during this rollercoaster ride we are all on!!

@Kb24–NIce post, very well said. I, for one, always pick up something that I hadn't thought of before when reading your posts. Can't thank you enough for being such a wonderful presence on the boards! You really foster a team effort. That being said, the next “team” you join will be so lucky to have you. I hope the interview process has been going well!

Jimbo–Good luck with your last couple of days of review. Stay confident, and don't let a question throw you out of the game when you take the exam. We all get one–it is a question out of left field– don't let it scare you, take a deep breath, think it through and keep an eye on your time.

[hilaryh_88]

jimboace88

I take FAR today. I will let you know later tonight how it goes. Sometimes I just have to close the book and focus on my own notes because every once and awhile I come across a MCQ that seems a little out of whack and when I miss it it just kills my confidence. Once it gets this close to the exam, try working from some areas you are strong in too so that you stay upbeat.

AUD - 82 Becker
BEC - 75 Becker
REG - 71, 82 Becker
FAR - 66,61,71,74,70 and #6 80!!!! FINALLY DONE!!! 9/20/12
Yaeger and Yaeger CRAM for the final battle!

[kb24]

@yankee – good luck on REG this week! I know you're going to do great, even on the dreaded b-law.

I've had some family issues going on lately so I haven't been able to do as much on the job search as I'd planned. However, I did get a really helpful resume critique from the alumni career services and started sending out my new resume last week so I'm hoping for some good response soon. They have some other resources available that I'm going to utilize if necessary.

I haven't always been a great team player, but that is something I've gotten better with over time. There have to be some advantages associated with age.

On a completely different note, when my daughter was about 2, she used to say “lellow” instead yellow. The funny thing, though, was that she called every color “lellow”.

FAR 4/1/11 - 89
AUD 4/15/11 - 85
REG 4/29/11 - 80
BEC 5/13/11 - 85

[Peanut]

@Hilary knock them dead today!

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[Author]

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