[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

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

Yay, Q1 is now officially closed.
Let me be the first one to post in this thread to invite some good vibes to pass this window.
Good luck to us all!!!

Official time now is: 03/18/2016 2:49AM EST

[Larry]

Sitting for this section on 5/16. Been studying since the last week of February. Looking forward to study with you people after a break from xmas, wedding and honeymoon.

AUD - 83
BEC - 76
FAR - 78
REG - 82

Licensed in Florida

REG - 82
FAR - 78
BEC - 76
AUD - 8/27/16

[csvirk]

Hello fellow NINJAs. Lets take Down this BEC.

I have finished readings and now time to do MCQs. Any one know mnemonic for 8 Components for ERM?

Thank a bunch.

AUD - 80
BEC - 86
FAR - 77
REG - 84

Hardwork will always pay off!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[csvirk]

The manager of a production line has the authority to order and receive replacement parts for all machinery that require periodic maintenance. The manager typically pays for the parts using a corporate credit card (that bills to the company). The internal auditor received an anonymous tip that the manager ordered substantially more parts than were necessary from a family member in the parts supply business. The unneeded parts were never delivered. Instead, the manager processed receiving documents and charged the parts to machinery maintenance accounts. The manager processed payments for the undelivered parts through the company's credit card and those payments were sent to the family-member supplier. After the supplier received the money, it was divided between the manager and the family member.

An internal auditor is conducting an audit of the use of corporate credit cards by employees and the supplies ordering process. Which of the following are major audit concerns regarding these issues?

Segregation of duties is insufficient.
The purchasing function is impaired.
Cards may be used for personal benefit.
The company is required to make one large payment instead of many small ones.
A.
II and IV only

B.
III only

C.
I, II, III, and IV

D.
I and III only

Correct is D but why not C? Please help!

AUD - 80
BEC - 86
FAR - 77
REG - 84

Hardwork will always pay off!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[MaLoTu]

@csvirk – segregation of duties encompasses the issue with the purchasing. Essentially what is happening in this scenario is management override. The purchasing function is fine, but the manager is going around protocol. And companies are not required to make one large payment, they can have installments terms, etc.

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[Crunchtime]

Can someone explain this to me?

The accompanying diagram depicts a manufacturing total cost flexible budget line KI and standard cost line OI. Line OJ is parallel to line KI, and revenues are represented by line OH.

Which line on the graph represents the standard gross profit at volume OE?

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

Ethics here I come!!

[Anonymous]

Anyone using Becker version 2.0? I was looking at the example on page B1-55 for equivalent units of production. For the weighted average example I notice that they are including the beginning conversion and material units of 4,000 which goes against the rules for weighted average. Anyone else notice this? It threw me off for several practice problems. In the practice problems the 4,000 units are definitely excluded when calculating the equivalent units.

[csvirk]

Primary benefits of globalization for companies would include all of the following except:

A.
the growing ability to capture the benefits of global labor arbitrage created as new technologies have allowed production to be shifted geographically to take advantage of low-cost labor.

B.
the increased demand for raw materials and infrastructure development that has dramatically increased the demand for many nonrenewable resources.

C.
increasing capital flows that transfer savings from countries where the marginal product of capital is low to those where it is high, resulting in increasing world output.

D.
the recipients of foreign direct investment now having access to new research, technology, and skills.

could someone explain why answer B is correct?

AUD - 80
BEC - 86
FAR - 77
REG - 84

Hardwork will always pay off!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[A]

“…except…”

B. the increased demand for raw materials and infrastructure development that has dramatically increased the demand for many nonrenewable resources.

Increased demand = higher prices for resources; definitely not a benefit.

B A R F

B - 77 (2.27.16)
A - 81 (4.18.16)
R -
F -

Roger Review + Ninja MCQs

[csvirk]

Thanks @Mecrushya.

AUD - 80
BEC - 86
FAR - 77
REG - 84

Hardwork will always pay off!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[jessica8926]

Hi all, just a quick question for those who have taken BEC before. I use Becker to study fyi. When I took BEC in late February, I noticed I had not received any questions on supply and demand. Literally NONE. Yet Becker went so in-depth on this topic and I thought for sure I had to memorize it all so I did! Obvi a waste of time. That being said I have not noticed very many people commenting that they have ever seen a lot of macroeconomics on the BEC exam. I am curious to see if you guys think this is a major area I should keep focusing on in-depth or just move on?

Granted, I also know how this exam can trick you and next time around it may throw a gagillion MCQs on macroeconomics, but just thought I would ask!

AUD - 77
BEC - 82
FAR - 75
REG - 81

Illinois Certified Public Accountant 2016

AUD - 69, 77
REG - 74, 81
FAR - 75!
BEC - 71, 82

IL candidate!

Finally done (5/24/16)!! Yahooooooo!

[csvirk]

@Jessica

Better be prepaired than sorry. I have not taken the BEC exam yet but from other sections I have realized that they can ask us anything they like, weather the review section covered it or not. I would recomend atleast understand the concept and move on.

AUD - 80
BEC - 86
FAR - 77
REG - 84

Hardwork will always pay off!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[MaLoTu]

@jessica – I agree with csvirk, they can throw anything at us. This testing window may be the economics heavy focus window for all we know. With that being said, someone had a “dream” that they took this exam twice and in the “dream” that topic was not heavily tested, almost at all 😉

However, have a gist understanding, at the very least. I wish my whole exam was economics! lol.

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[jessica8926]

Thanks guys! I was hoping I could skim through it and be ok lol. This whole studying for a retake is troublesome and I am finding it hard to figure out what I need to focus on and other things I can kind of leave by the side. I have never had to take a retake so soon after failing the first time so the other times I just redid all the lectures etc as it was almost new information all over again. This is not the case, but I am going through each chapter again and taking my own notes. Its slow and tedious and I take my retake on April 12th so a little worried I wont have time to get through it all, but I am going to try!

AUD - 77
BEC - 82
FAR - 75
REG - 81

Illinois Certified Public Accountant 2016

AUD - 69, 77
REG - 74, 81
FAR - 75!
BEC - 71, 82

IL candidate!

Finally done (5/24/16)!! Yahooooooo!

[csvirk]

@JESSICA

I would recomend do MCQ until get sick of them. Rewrite your notes or you can rewrite ninja notes. You will do well. Good Luck.

AUD - 80
BEC - 86
FAR - 77
REG - 84

Hardwork will always pay off!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[Author]

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