[jeff]

Welcome to the Q3 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]

View post on imgur.com

The problem says that the target inventory is equal to 30% of the next month’s sales.
Then why does the solution show that the ending inventory is calculated next month’s sales multiply to 40% and multiply to 30%?

[Anonymous]

BUMP

View post on imgur.com

Formula: FOH-VV = STD. FOHR x (ACTUAL PRODN. – STD. PRODN.)
Fixed Overhead Volume Variance = Standard Fixed Overhead Rate x (Actual Production – Standard Production)

I agree how the solution arrives at $5.00 as Std. FOHR and 20,000 as Std. Production. But I am lost as to why the solution picks out 21,000 as machine hours (plan based on output), instead of the 21,600 ACTUAL MACHINE HOURS as clearly presented in the table.

[Anonymous]

Thanks MaLoTu!

[Anonymous]

I don't if I missing something…but in these few days reading different post I noticed someones telling about the use of a calc. that Prometic provides? OMG….the last test that I took was on February 16, something change after that date or you guys are using calc since too much time? I'm in PR I don't know if that's the difference.

Thanks! 🙂

—Continue my final review journey…chapter 5 almost done! 2:48am

[mckan514w]

@becka18- yeah apparently beginning in Q2 prometrics is suppose to provide you with a handheld calc. if you ask for one- however don't count on it… I sat FAR in April and asked for one and they did give it to me- however when I sat for REG in May and asked for one (same prometrics) they didn't. That being said not sure I am even going to ask for one with BEC as the one they provided was so small and hard to use that the one on the screen worked out much better for me in the end.

And they ask me why I drink

BEC 71, 82
AUD 75
REG 75
FAR 61, 69, 83

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[cpa007]

Can some one please explain this Q!
A hospital is comparing last year's emergency rescue services expenditures to those from 10 years ago. Last year's expenditures were $100,500. Ten years ago, the expenditures were $72,800. The CPI for last year is 168.5 as compared to 121.3 ten years ago. After adjusting for inflation, what percentage change occurred in expenditures for emergency rescue services?

a. 38% increase.
b. 13.8% increase.
c. 0.6% decrease.
d. 18.1% decrease.
Ans is c.

Hope and determination will lead to success.

[cpa007]

Can some one please explain this Q!
A hospital is comparing last year's emergency rescue services expenditures to those from 10 years ago. Last year's expenditures were $100,500. Ten years ago, the expenditures were $72,800. The CPI for last year is 168.5 as compared to 121.3 ten years ago. After adjusting for inflation, what percentage change occurred in expenditures for emergency rescue services?

a. 38% increase.
b. 13.8% increase.
c. 0.6% decrease.
d. 18.1% decrease.
Ans is c.

Hope and determination will lead to success.

[MaLoTu]

I got my NTS less than 24 hours after making the payment. Don't know what to do about scheduling now….

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

All 4 passed - 2016

CA CPA

[Crunchtime]

Can you guys help me interprete this question? I am doing the sims for ninja and I am thrown off by this question

The independent auditor has told your company that its risk management process is not adequate. In a written response to the auditor's finding, the company has mentioned that it will consider the following items in its risk management process: risk assessment, control activities, information and communication, and monitoring. As an internal auditor, you are familiar with COSO's Enterprise Risk Management—Integrated Framework, and you realize that there are other components the company should be addressing both in its memo and in its process. Draft a memo to your supervisor suggesting the additional four elements of the ERM framework and provide a definition for each one.

The question is asking for the framework for ERM and but they mention CRIME in the question so I went with SORC mnemonic and that was wrong. Why?

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

Ethics here I come!!

[MaLoTu]

Is ear aim for ERM

Internal environment
Setting objectives<sorc
Event identification
Assessment of risk
Risk response
control Activities
Information & communication
Monitoring

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

All 4 passed - 2016

CA CPA

[Crunchtime]

@malotu I understand that but they only ask for 4 components so they wanted me to choose 4 instead.

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

Ethics here I come!!

[MaLoTu]

They gave you four that the company included … they wanted you to tell them to the ones that they missed: Internal environment, setting objectives, event identification, and risk response were left out of the company's written response.

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

All 4 passed - 2016

CA CPA

[Crunchtime]

ok, I have to read the question more carefully.

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

Ethics here I come!!

[MaLoTu]

^ yeah it was wordy … I just chunk read, then I looked at the question, then I went back to where I seen them talking about what they had included.

Truthfully, I hate long questions and BEC is full of them in the study materials. I think that is what makes BEC as hard to study for as FAR … too much material and too long of questions.

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

All 4 passed - 2016

CA CPA

[Anonymous]

cpa007, first you calculate the percentage change in the CPI: (168.5 – 121.3)/121.3. That gets you 0.389. Next you increase the expenditures from ten years ago by that percentage to get them in today's dollars: 72,800 x 1.389 = 101,119.2. Then you subtract today's expenditures by that number: 100,500 – 101,119.2 = (619.2). Then you calculate what percentage that is of today's expenditures: (619.2)/100,500 = (0.006).

Basically you're just using the change in the consumer price index to find the old expenditures in today's dollars, then comparing both years in today's terms and finding the percentage change. Hope that makes sense, and someone please correct me if I'm wrong.

[Author]

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