BEC Study Group Q1 2017

CPA Exam Forum BEC BEC Review BEC Study Group Q1 2017

This topic contains 813 replies, has 143 voices, and was last updated by  drkarm 6 months, 1 week ago.

Viewing 30 posts - 451 through 480 (of 814 total)
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  • #1475289
    Teal
    Teal
    Participant

    Almost the same advice with the graphs. If you understand the concepts first, the graphs will just be a drop in the bucket. Sure, you may have to read one or two on a question, but the concept is what matters, not the graph itself 🙂


    NINJA & Roger

    AUD - 73 (re-take 10/5)

    BEC - 71 (re-take 12/8)

    Passed FAR!

    Passed REG!

    AUD - 73
    BEC - 71
    FAR - 75
    REG - 77
    #1475575

    SONA
    Participant

    Does all of your state has the same rule as following. I applied for BEC re-examination to state board in Wyoming and I got following reply :(.

    A candidate may take any section of the examination up to four times during a one-year period but cannot retake any failed test section in any one three month testing period.


    Thanks.
    AUD - NINJA in Training
    BEC - 75
    FAR - 74
    REG - 81
    #1475578

    artsiom Hurenchyk
    Participant

    I am in NV and i read instruction for reexamination. It states the same rule. You can't retake exam in the same quarter you failed it. Hope it helps.

    #1475581

    my time 2 shine
    Participant

    ivanka81 is right. The next If you taken the exam in January or February. You can't take it again until April


    My time 2 shine right now!!!
    AUD - NINJA in Training
    BEC - 64
    FAR - NINJA in Training
    REG - 47
    #1475590

    tatorhead328
    Participant

    I'm feeling a little better about the exam on Tuesday, but I'm going to have to study ALL WEEKEND to be fully prepared. The only things tripping me up are economics (ugh) and cost accounting. I really wish I had taken cost recently because I'm just struggling to understand it without having an actual teacher walk me through multiple problems.


    Is it over yet?

    AUD- 77
    BEC- 76
    FAR- 83
    REG- 78

    #1475658

    samantha09
    Participant

    Is anyone using/has used Becker spending time looking at the B4 Appendix (IT)?


    BEC -  82 Passed 3/08/2017

    FAR- Ninja In Training 7/14/2017

    REG - Ninja in Training 9/8/2017

    #1475716

    A1lessio
    Participant

    Hey everyone,

    For the section in B3 Becker on Economic Order Qty of inventory. The formula is the square root of 2 annual sales x order cost/ Carrying cost per unit.

    How do you get the square root without a scientific calculator? …


    People who subject themselves to the strictest discipline, who give up certain pleasurable things in order to obtain a goal are the happiest of men.
    AUD - 86
    BEC - 70
    FAR - 78
    REG - 84
    #1475743

    SONA
    Participant

    Thanks guys.

    Tried to avoid April 1st for BEC, but I have to face it now.


    Thanks.
    AUD - NINJA in Training
    BEC - 75
    FAR - 74
    REG - 81
    #1475755

    drkarm
    Participant

    .


    giving out 74! not cool AICPA...not cool at all.
    #1475757

    drkarm
    Participant

    ^A1lessio
    First work out the division inside then multiply the result by itself


    giving out 74! not cool AICPA...not cool at all.
    #1475787

    SONA
    Participant

    Hey,

    Has anyone updated their Becker software for April 2017 exam?


    Thanks.
    AUD - NINJA in Training
    BEC - 75
    FAR - 74
    REG - 81
    #1475794

    SONA
    Participant

    The AICPA is considering making the following changes to exam administration:

    Extending the 18-month rolling window to 24 months.
    Allowing students to retest for a failed section of the exam in the same testing window.
    The AICPA would like to make these changes, but have not set a timeline for the changes because of the complexity of implementation and the required approval process.


    Thanks.
    AUD - NINJA in Training
    BEC - 75
    FAR - 74
    REG - 81
    #1476013

    SONA
    Participant

    Is anyone studying for BEC exam on or after 1st April?


    Thanks.
    AUD - NINJA in Training
    BEC - 75
    FAR - 74
    REG - 81
    #1476031

    ignaciopc
    Participant

    Hi, I am currently preparing the BEC, but I don't know when I will take it because I didn't be considered suitable.
    My status is still ¨EVALUATE¨. Anyway I am with IT chapter now. Puff it is a nightmare!


    Good luck everybody!
    #1476066

    Trucker90
    Participant

    Hi, I just registered. Nice to meet you all!

    I have about two weeks left until my BEC section.
    I am using a mix of different resources for this exam in general.
    Mostly Roger, and some Becker as well.

    I already passed Audit and Regulation with late 80 / early 90, so I feel pretty comfortable about the general study strategy.

    As for BEC though, I am most concerned about the Information Technology section.
    I keep hearing from people that you can't really study for it, aside from covering the basic material from these test prep books. Most people around me who took the exam seems to feel that they weren't prepared for the IT section.

    What's the best way to go about preparing for that particular subtopic of BEC?
    I studied NINJA notes, and did some Becker problems. Still feel utterly unprepared..


    JUST ONE MORE TO GO
    AUD - 91
    BEC - 88
    FAR - NINJA in Training
    REG - 86
    #1476076

    ignaciopc
    Participant

    Hi, I don't see the point in IT part, does not make any sense!


    Good luck everybody!
    #1476097

    ksc168
    Participant

    I take BEC tomorrow at 8 AM.

    Becker Practice Exam 1: 77
    Becker Practice Exam 2: 61
    Average: 69

    I have a question on Becker Practice Exam 2, Testlet 1, Question 8 and 9.
    Both deal with capital budgeting. #8 asks for after-tax cash flows and #9 asks for payback period.
    Both require calculating the depreciation on the investment to determine the after-tax cash flows.

    HOWEVER, #8 does NOT include installation charge in the depreciation calculation AND #9 DOES include installation charge in the depreciation calculation.

    Why is that? Please help, thanks!


    Thank you.
    AUD - 77
    BEC - 80
    FAR - 81
    REG - 79
    #1476147

    Trucker90
    Participant

    hey @ksc168 , can you post the questions? (or is that illegal?)


    JUST ONE MORE TO GO
    AUD - 91
    BEC - 88
    FAR - NINJA in Training
    REG - 86
    #1476153

    ksc168
    Participant

    @trucker90, I think I can since it's not the actual exam. But if I can't, someone please remove this post.

    Question #8 I was referring to above:
    Barclay Corporation invested $600,000 in a capital project, including $40,000 installation charges. The project had a useful life of 12 years with no salvage value and generated cash flows of $150,000 each year. Assuming a 30% tax rate and straight-line depreciation for tax purposes, Barclay's after-tax cash flows per year would have been equal to:
    A) $150,000
    B) $105,000
    C) $140,000
    D) $120,000

    Question #9 I was referring to above:
    Garter Company anticipates buying a $250,000 piece of equipment that will cost $20,000 to install, have a nine-year useful life, and generate $90,000 per year in pre tax cash flows. Assuming a 30 percent tax rate, what is the payback period for this investment in years?
    A) 4.50
    B) 3.00
    C) 3.47
    D) 3.75

    Please see bolded parts that relate to my question above.


    Thank you.
    AUD - 77
    BEC - 80
    FAR - 81
    REG - 79
    #1476358

    tatorhead328
    Participant

    Has anyone had luck with Ninja Review Notes for variances? I'm using Rogers and just not getting it. Is Ninja more thorough in their review, or for people who have done both, do you think the material covered is similar and I just need to keep working problems and supplement with Youtube and Google?


    Is it over yet?

    AUD- 77
    BEC- 76
    FAR- 83
    REG- 78

    #1476420

    Trucker90
    Participant

    @ksc168

    Ah I see. Are the answers to both questions D?

    Read the question carefully again – installation costs are included in the depreciable base for both questions.

    Question #8 ……. “invested $600,000,… INCLUDING …. INSTALLATION CHARGES” : meaning that installation cost is, well, already included in the 600k.

    Question #9 “buying an equipment that WILL COST $200,000 TO INSTALL ” : meaning that the installation cost is not included in the 250k, therefore you must add the installation cost to arrive at the depreciable base.

    Bonne Chance!


    JUST ONE MORE TO GO
    AUD - 91
    BEC - 88
    FAR - NINJA in Training
    REG - 86
    #1476507

    Tarheel83
    Participant

    Hey Ninjas! I was subscribed to the FAR and REG groups since the beginning of 2017, but now that I failed FAR again with a 71 and will probably get a fail score for REG, I am retaking BEC on 3/6. My first attempt back in the summer was a 74, then a quick back to back retake I made a 68 on BEC. So here I am trying to at least pass one more section before the new exams.

    Just digging into the material again. I am pretty solid in Corporate Governance and Information Technology. I did all Wiley Test Bank questions for those segments (205 MCQs in total) and scored a 70% without reviewing any of the materials since my last attempt in the summer.

    Now I am trying to get my head wrapped around Economics and Cost Accounting again. Man I forgot how hard I had to work at that stuff the first time around.

    Anyhow, anyone have any topic specific areas that they think are incredibly important to know. I am trying to go through all of the written chapters in CPAExcel, but want to make sure I don't forget to hit important topics as I am going to be going pretty quick through this stuff again.

    #1476520

    Jsn3004
    Participant

    A job order cost system uses a predetermined factory overhead rate based on expected volume and expected fixed cost. At the end of the year, underapplied overhead might be explained by which of the following situations?

    A.
    Actual volume, greater than expected; Actual fixed costs, greater than expected

    B.
    Actual volume, greater than expected; Actual fixed costs, less than expected

    C.
    Actual volume, less than expected; Actual fixed costs, greater than expected

    D.
    Actual volume, less than expected; Actual fixed costs, less than expected

    Answer: C

    What am I missing here, because I thought it was obvious that if OH was underapplied than actual volume would be greater than expected.

    It says in the explanation, “Underapplied overhead means the actual overhead cost was more than the overhead applied to work-in-process”.

    I'm sure if I get it, there will be that lightbulb moment where I realize how obvious the answer was, but so far not much luck lol.


    Experience is simply the name we give our mistakes.
    AUD - NINJA in Training
    BEC - 77
    FAR - 75
    REG - NINJA in Training
    #1476525

    tatorhead328
    Participant

    @jsn3004, say they started the year thinking that they would spend $400,000 on rent and produce 100,000 units. 400,000 / 100,000 is $4, so they were applying $4 to every unit throughout the year. But at the end of the year, they realized that they only produced 90,000 units. 90,000 x $4 (this is what they were applying all year long) is $360,000. So they had actual costs of $400,000 but only applied $360,000 and OH is underapplied.


    Is it over yet?

    AUD- 77
    BEC- 76
    FAR- 83
    REG- 78

    #1476997

    Fosterthedave
    Participant

    Hey guys, BEC on March 9th.

    How do you guys prepare on studying for the IT portion? Research tells me the subject is notorious for having questions on the exam on things not covered in study material. Gonna just hope for the best? is there a best practice.


    Why did the accountant cross the road? Because he did it last year.
    AUD - NINJA in Training
    BEC - NINJA in Training
    FAR - 83
    REG - NINJA in Training
    #1477462

    Tarheel83
    Participant

    @fosterthedave personally, I lucked out to have a decent understanding of IT since I started out in that major before switching to accounting.

    However, I did really well on the IT section on my first BEC attempt (74) (it said I was stronger than most candidates in that section) by going over a ton of NINJA MCQs for IT.

    NINJA provides a ton of IT related questions and I think that they will prepare anyone pretty well.

    I feel like the IT section is memorizing a lot of terms and definitions, as well as the roles of key employees and IT controls and monotring of those controls.

    #1477642

    Subrata P
    Participant

    Hello All, I am having trouble understanding this question from Becker. Maybe some one can help? Final Exam # 2. Testlet 3 question number 22. Company budgeted production at 6,000 units and charged $42,000 to its factory overhead account. Variable overhead is applied at $3 per hour and assumes each unit takes 1 direct labor hour. The company applied $40,000 of its overhead to work in progress based on 5,000 hours. If the company actually required 5,500 hours to produce 5,000 units what the total overhead variance?

    #1477980

    Jsn3004
    Participant

    XYZ Lawn Care Services provides a variety of lawn care supplies such as seed and fertilizer. In addition, the firm provides lawn care services on a customer requested basis. Sales and services vary greatly by season and are affected by changes in weather conditions.

    The financing method that would likely result in meeting XYZ's cash needs at the lowest cost is:

    A.
    factoring accounts receivable.

    Correct B.
    line of credit.

    C.
    long-term borrowing.

    D.
    using credit card debt.

    You are correct, the answer is B.
    XYZ should use the line of credit form of financing because of its flexibility and having interest charged only for funds actually being used. None of the other methods of financing listed provides this degree of flexibility.

    Is the answer B because the interest paid against the funds taken out of the bank is less than the factoring fee? I know people choose to factor A/R because it is much quicker than obtaining a line of credit. I'm just confused because I don't understand why a line of credit would be cheaper than Factoring A/R. I don't recall going over anything that said which alternative was cheaper.


    Experience is simply the name we give our mistakes.
    AUD - NINJA in Training
    BEC - 77
    FAR - 75
    REG - NINJA in Training
    #1477989

    Trucker90
    Participant

    oops sorry for the double post


    JUST ONE MORE TO GO
    AUD - 91
    BEC - 88
    FAR - NINJA in Training
    REG - 86
    #1477996

    Trucker90
    Participant

    @tarheel83 just curious because of your username – did you go to Carolina by any chance? If so, YAY hello from a fellow TAR HEEL!

    @SubrataP
    Disclaimer: I have not yet fully reviewed the cost accounting section.
    Here goes my attempt, and please verify if my answer is correct?

    The Question asks total overhead variance, so that would be the difference between Applied Overhead and Actual overhead in producing 5,000 units.

    1. OHD has two components – fixed and variable. You can get fixed overhead from the ‘budgeted production of 6000 units and charged $42,000 to its factory overhead account.’ The company charges $3/hr, and expects each unit to take 1 hr to produce each unit.
    $42,000 – ($3 * 6,000hrs) = $24,000 <- this is Fixed OHD.

    2. Let’s calculate actual overhead incurred. Actual # of hrs it took to produce 5000 units was 5,500 hrs.
    so, FOHD + VOHD = Total OHD incurred.
    $ 24,000 + $3 * 5,500 hrs = $40,500

    3. The difference between Applied overhead and Actual OHD incurred is:
    $40,000 – $40,500 = $ (500) = $500 unfavorable.

    This is how I would do it.


    JUST ONE MORE TO GO
    AUD - 91
    BEC - 88
    FAR - NINJA in Training
    REG - 86
Viewing 30 posts - 451 through 480 (of 814 total)

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