October 9, 2019 at 4:26 pm #2745105zmanParticipant
Hey guys, I'm into my final review for BEC and wanted to check in with the forum about topics to have a “sim mindset” on. I have passed the other three exams and for each of those exams there were certain topics where I could say with a decent amount of certainty “alright, this is a really good topic to test via a simulation.” I still get that vibe while studying BEC but the difference is that it seems like every single topic in BEC is primed to be tested as a simulation.
With this being said, could those of you who have taken it help me out on what I may see simulation wise? You don't have to be so specific as to tell me which calculations and what not because that's clearly a violation. I'm looking for someone to give me the broader topics such as cost accounting, Projections and forecasting, capital structure, etc.
Yes, I realize I should know everything so please don't answer with that. If I have learned anything while studying for this exam it's that “knowing everything” simply is not feasible.October 9, 2019 at 4:47 pm #2745132IcaritoParticipant
you will definitely have a Variance SIM. Know how to calculate each one (DM, DL, FOH, VOH).October 9, 2019 at 4:57 pm #2745168maybei’lltryaccountingParticipant
Having a really good grasp of all the different variance calculations and concepts is important. I took BEC for the first time earlier this week and was really surprised at how straight-forward the SIMs seemed. Maybe I got lucky or maybe I just completely bombed them. I used NINJA only and felt that it had me adequately prepared for the exam.
You have passed three other exams so you already know this, but to me part of the battle with SIMs is just keeping things organized and weeding through all the junk that they throw at you. It's almost like they want to find out if you can overcome the mental fatigue that starts to set in after the MCQ. Luckily in BEC there are only two sets of MCQ. Still, I had to pay more attention to my time on BEC than I ever had to with previous exams, knowing I would have to also complete the writing portion.
Hopefully this is helpful but it seems like it is more me just rambling. Trying to kill time between now and score release…
Best of luck on what is hopefully your last exam.October 9, 2019 at 8:49 pm #2745456zmanParticipant
I'm hoping and praying to be finished with this journey after this exam. @Maybei'lltryaccounting did you have many questions on Projection and forecasting techniques like breakeven, target profit, sales required to reach target profit, etc.?October 10, 2019 at 10:11 am #2746065maybei’lltryaccountingParticipant
I never know how much is too much information to share. I don't want to give specifics on my particular exam. I didn't spend a ton of time on those topics in my studying but had a decent understanding of them and like I said above, I felt adequately prepared for the exam.October 12, 2019 at 10:00 pm #2749527VooParticipant
I am still a little bit unclear about the O/H variance formulas. Could someone help explain it to me? Thanks!