January 7, 2019 at 1:12 pm #2153017
Yep! Sorry haha the practice is very helpful.January 7, 2019 at 1:39 pm #2153044
Took BEC this weekend. Just some helpful advice. I would focus a lot of your time on WACC, dividend yield, payback, IRR, NPV, ROA, ROE and ROI. Know how to calculate and what they are. I had 2 economic value added (EVA) questions which lucky I guessed correctly on how to solve. I did not get a single question about Econ (GDP, supply/demand). Got one about exchange rate. Also I made the mistake of knowing COSO- IC and ERM principals but not really understanding what each one really helps prevent. Also technology and supply chain were highly tested.
Good luck everyone!January 7, 2019 at 8:14 pm #2154031
Fourth attempt on Thursday….really anxious! BEC has been my most difficult and I'm ready to get this out of the way but each time I study I can tell I'm only familiar with it and my eyes start glazing over it….so does my brain lol.
I know it's a vague question, but any advice or tips? Short of hiring a personal tutor, this section is giving me a fit! I've done best with IT and Econ concepts..the cost acct and capital budgeting…..ick.January 8, 2019 at 7:30 am #2154424
Aw!January 10, 2019 at 6:32 pm #2158648
Thank you!!!January 12, 2019 at 12:25 pm #2161156
Hey everyone! Took BEC for the first time back in November and failed miserably 🙁 Retaking it again on January 29th so have about 2 or so weeks left to study and review. The first time I took it I remember it not being as heavy with calculations and more concepts/definitions. Does anyone have any tips on how to study these last 2 weeks?
Thank you!!January 12, 2019 at 12:26 pm #2161168
Hey everyone! Took BEC for the first time back in November and failed miserably 🙁 Retaking it again on January 29th so have about 2 or so weeks left to study and review. The first time I took it I remember it not being as heavy with calculations and more concepts/definitions. Does anyone have any tips on how to study these last 2 weeks?January 12, 2019 at 2:33 pm #2161438
OK; so here’s something for y’all to try that really helped me.
You’ll see above how I mentioned knowing concepts; that’s the most important!!! Because if you understand a concept, the formula is the concept!
So here’s how I realized I learned best.
Most of us feel like to understand, we have to put it in our own words
I just ninja as a supplement to Roger.
I bought a big white board and expo markers (it’s probably 2×3 ft).
So during lectures, I listen and just make small notes on my actual notes
After each lecture or major group I stop the lecture.
I go to my white board and I write down key points like roger as I’m going over the concept out loud. Don’t under estimate this method; try it!!!January 14, 2019 at 2:24 pm #2164375
@Diana- that is a good methodology! Will put it to use:)January 15, 2019 at 7:28 pm #2166301
I'm retaking BEC this Thursday after getting a 71 in December 2018.
Has anyone here taken the exam in both quarters and noticed any significant changes? I noticed that there were no revisions to the AICPA blueprints for BEC for Jan 1 2019. But just want to stay alert for any curve balls.
Thanks!January 17, 2019 at 11:20 am #2168692
I'm having a hard time understanding what exactly WACC is…I feel like I'm doing problems but I don't actually understand why I'm calculating them they way I amJanuary 17, 2019 at 11:20 am #2168695
I'm having a hard time understanding what exactly WACC is…I feel like I'm doing problems but I don't actually understand why I'm calculating them they way I amJanuary 17, 2019 at 3:14 pm #2169121
You're basically calculating the cost (interest rate) only on the percentage of that type of debt or equity, so you can see how much of each type of borrowings is actually costing you.
So, for example:
30% Debt at 5% int, 30% tax rate
70% Equity at 10% int
Start with the debt. The debt is costing you 5% in interest, but interest on debt is tax deductible so you're really paying (5*(100%-30%)) or 3.5%
So you debt is costing you: 30 * 3.5% = 1.05%
Next, your equity, which accounts for 70% of borrowings, is costing you 70 * 10% = 7%
So your total cost of borrowing money is 1.05% + 7% = 8.05%.
Those numbers are way off from what's common in reality lol but it's only for illustration. I hope that helps!January 18, 2019 at 2:09 pm #2170477
Hey guys! I take BEC in a week. Does anyone have any suggestions what to focus on? Especially for the sims? Or even want to share your experience, thanks 🙂January 18, 2019 at 6:08 pm #2170828
Not sure how much I am allowed to disclose about the exam, all I can say is MCQs are tough, hardly any Economics mcqs, don't just memorize financial formulas but try to understand them because questions can get worded in a very strange way. Also, not sure if you took FAR yet, but it definitely helps to know FAR for the BEC and AUD sims.January 18, 2019 at 6:22 pm #2170843
need help with steps on this question :
The J company adheres to credit terms in payment of accounts payable of either 2/10, net 30 (when offered) or simply net 30. Discounts of 2% are offered on 20% of all purchases. The remaining 80% have terms net 30. Assume purchases are made evenly throughout month. Purchases of $310,000 are projected to be made in March and $360,000 during month of April. What are projected cash disbursements for April?
Answer was 309,600
I got the fact that first step we gotta do is finding average daily purchases for March and April by dividing by number of days but confused after thatJanuary 18, 2019 at 7:25 pm #2170891
Would you be able to give some hints/tips on the sections/equations that we should focus more heavily on? Anything else besides equations that would be helpful with the SIMS? That's what I struggled a lot on last time :/January 19, 2019 at 5:49 pm #2172193
Study all the capital budgeting techniques (Payback, IRR, ARR, NPV), Economic value added, inventory ratios, break even analysis, and contribution margin/gross profit type questions.
SIMS are such a wild card, you can get anything there from FAR type sims, to Balanced score cards, to SWOT analysis, etc. You kind of have to get lucky for the SIMS and get something that you know well.January 20, 2019 at 10:23 am #2172973
Thank you, were your sims. on Balance score cards and SWOT analysis?January 20, 2019 at 10:28 am #2172982
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