BEC Study Group Q1 2019

CPA Exam Review CPA Exam Forum BEC BEC Review BEC Study Group Q1 2019

This topic contains 49 replies, has 24 voices, and was last updated by  CPAnerd 30 minutes ago.

Viewing 20 posts - 31 through 50 (of 50 total)
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  • #2153017

    Diana
    Participant

    Yep! Sorry haha the practice is very helpful.

    Let your biggest failures be your biggest motivators.

    we are all trying to better ourselves; we made it this far, we got this!!

     

     

    #2153044

    Hannah Walker
    Participant

    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!

    AUD - 75
    BEC - NINJA in Training
    FAR - NINJA in Training
    REG - NINJA in Training
    BEC- 1/5 (Becker & Ninja)

    AUD- 75 (Becker)

     

     

    #2154031

    TC85
    Participant

    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.

    REG - 74, 76

    BEC - 69, 67, 72, Come on 2/5 score release!

    AUD - 70, 73, 75

    FAR - 62, 71, 74, rematch 2/13/19!

    #2154424

    Diana
    Participant

    Aw!

    Let your biggest failures be your biggest motivators.

    we are all trying to better ourselves; we made it this far, we got this!!

     

     

    #2158648

    liz
    Participant

    Thank you!!!

    #2161156

    Jona
    Participant

    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!!

    #2161168

    Jona
    Participant

    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?

    #2161438

    Diana
    Participant

    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!!!

    Let your biggest failures be your biggest motivators.

    we are all trying to better ourselves; we made it this far, we got this!!

     

     

    #2164375

    sg235
    Participant

    @Diana- that is a good methodology! Will put it to use:)

    AUD - 86
    BEC - 69
    FAR - 80
    REG - 73
    REG- 73, another 73 and now retake in Feb 19

    BEC- 69, retake Jan 19

    #2166301

    Diego
    Participant

    Hey guys.

    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!

    Won't quit 'till I get those THREE letters

    AUD Score  74 , 73

    BEC Score    71

    FAR Score   60 , 76

    REG Score    n/a

     

    #2168692

    Jona
    Participant

    Hey guys!

    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 am

    #2168695

    Jona
    Participant

    Hey guys!

    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 am

    #2169121

    TC85
    Participant

    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!

    REG - 74, 76

    BEC - 69, 67, 72, Come on 2/5 score release!

    AUD - 70, 73, 75

    FAR - 62, 71, 74, rematch 2/13/19!

    #2170477

    CPAnerd
    Participant

    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 🙂

    #2170828

    Diego
    Participant

    @CPAnerd

    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.

    Won't quit 'till I get those THREE letters

    AUD Score  74 , 73

    BEC Score    71

    FAR Score   60 , 76

    REG Score    n/a

     

    #2170843

    cpaswag
    Participant

    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 that

    #2170891

    Jona
    Participant

    @pendragon87

    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 :/

    #2172193

    Diego
    Participant

    @Jona

    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.

    Won't quit 'till I get those THREE letters

    AUD Score  74 , 73

    BEC Score    71

    FAR Score   60 , 76

    REG Score    n/a

     

    #2172973

    CPAnerd
    Participant

    Thank you, were your sims. on Balance score cards and SWOT analysis?

    #2172982

    CPAnerd
    Participant

    Also where is transfer pricing in the textbook, its in Final Review but I cannot find it in the textbook?

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