Thursday, April 28, 2011

My BEC exam experience

I just took the exam on Thursday April 21st, and can say there is no way to prepare for the written part. 2 of my 3 questions were FAR related. I am strong (in the past) in written simulations so I didn't study much there.

As for the rest of the exam, know the COSO framework inside and out. CCRIM - old, CRRIIMOE - new I made a mnemonic to memorize them. There were a large amount of questions on COSO and Internal control related topics. (1 of my written was on this topic) 

Economics - Understand inelastic and elastic as it relates to demand curve.

Financial management - Know current and quick rations, as well as how to calculate present value etc. 

IT - know EDI, some of my questions here were exactly like the past AICPA questions.

Planning & Measurement - Go over as many cost questions you can, these are time consuming in the exam and you need to know how to do them and do them quickly. I had to guess on 2 of my cost questions due to time constraints.
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7 comments:

  1. RosieApril 28, 2011 at 2:35 PM

    Thanks. i am taking BEC tomorrow. Took it in Feb and had the same thing. I am going to focus on COSO tonight. That killed me last time.

    ReplyDelete
  2. Life By RoGinaApril 28, 2011 at 3:38 PM

    I am studying for BEC next. Thank you for the advice.

    ReplyDelete
  3. AnonymousApril 28, 2011 at 4:14 PM

    Thank you so much Jenn.
    I am worried sick about BEC which I am taking in May 2011.
    I am using Becker/Wiley. Do you Becker/Wiley will prepare me enough ?

    Thanks
    Chloe

    ReplyDelete
  4. JennApril 28, 2011 at 4:26 PM

    I am not using Becker so I can't help you there, but many people have passed so you should be fine. It's the study hours that determines our success.

    If you put in over 60 hours I think you will be fine, but it depends on how quickly you memorize and how long you retain the information.

    Best of Luck Chloe,

    Jenn

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  5. Dee-Nomore74April 28, 2011 at 6:29 PM

    Jenn, I bet you are done with BEC! so what is next now?

    ReplyDelete
  6. JennApril 29, 2011 at 8:37 AM

    I hope I am done with BEC!

    On to AUD next, I failed with a 70 last Feb so I plan to put in 75+ hours and get those last extra 5 points in!

    I will post my plans on my audit schedule :)

    ReplyDelete
  7. Soren DuusJune 1, 2011 at 10:01 AM

    It's a good thing that you covered all your bases to ensure that you'll be passing your exams as efficient as possible! I really hope that you become a full-fledged CPA, to face the world with pride!

    ReplyDelete

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