The CPA BEC Exam is generally perceived to be the easiest part of the CPA Exam, but is it true? Thousands of CPA candidates were caught off guard and failed the exam every year. This article attempts to uncover the reasons of such failure and suggests ways for candidates to maximize the chance of passing success.
First of all, you may be surprised to discover these facts about the CPA BEC Exam:
BEC has the lowest passing rate among the 4 sections in 2009 The term "CPA BEC" is most searched on the Internet among the related terms for the 4 exam sections. This means that many people have encountered problems or difficulty with BEC and are looking for solutions.
CPA BEC Exam: An Overview
BEC is a 2-hour examination covering "Business Environmental and Concept", which I interpret as general business related topics that the CPA examiners want you to know.
Major topics covered include the following:
Various forms of business entities Basic economics Common financial models and calculations such as EVA, NPV and IRR Information technology, meaning business information system, its security and applications Managerial and cost accounting Financial options (debt vs equity) and related knowledge such as the loan covenants.
Unlike the other sections (AUD, FAR and REG), BEC does not have simulations and comprises 100% of multiple choice in the form of 3 separate "testlets".
Why People Fail The CPA BEC Exam
1. They Grossly Underestimated The Time And Effort Of Preparation
Many candidates seem to have unexpectedly fail BEC and I believe the primary reason is under-estimation. They might have thought that these relatively "soft" subjects with no simulations can't be dangerous, and made the critical mistake of not spending enough time and/or effort to study.
2. They Got Caught In Detailed Questions
People have gotten nasty surprises from information technology, which represents a significant 25% of the entire exam. The examiners tend to get into the tiny details in this particular topic. Candidates who are not too familiar with IT should be really careful.
3. They Didn't Know The Questions Could Be Very Tricky
Another trap that candidates fall into is managerial / cost accounting. The concepts look easy but people just can't get them right without lots and lots of practice tests. Remember, it is a heavily tested topic representing 22-28% of the exam.
As you can see, IT and cost accounting accounts for 50% of the exam! There is no way you can pass without mastering these two sub-sections.
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More Study Tactics
I have outlined my tips to overcome BEC in the CPA BEC exam study tactics, where I detail which topics are heavily tested, which subjects the CPA candidates are most scared of, and how we can tackle each sub-section.
As long as you give BEC proper attention and allocate ample time to study, you will have a fair chance to pass the exam on your first (or next) attempt. Good luck!
Stephanie shares the tips and strategy on how to plan, study and pass the CPA exam on her first attempt in this CPA exam preparation site: IPassTheCPAExam.com.
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