Hi All,
I am scheduled to take Principles of Accounting on Tuesday (6/20/06).
I have done a lot of studying and really think I know all the basics quite well (Balance Sheet, Income Statement, Cash Flow, Retained Earnings, Journal/Ledger/Accounts, Credit v Debit, etc.).
Some of the more complex (mostly managerial) stuff is going way over my head at this point. Since this exam involves "NUMBERS" I am already starting to feel nervous.
I know it is a difficult exam, and I know that time is a killer on this one...but I still have every intention of passing it, 'so help me Bob!'
But I need some encouragement and reassurance if possible.
Does anybody have any specific advice about what to focus on (other than "Holy crap! It was hard!").
- Do you think it is possible to pass by mastering the basics even if you haven't fully grasped all the complex stuff?
- Is the exam mostly calculations, or mostly terminology/concepts?
- Just how hard/complex do the calculation questions get?
- Which financial ratios will I need to know?
I can't remember which of you guys have taken this exam, otherwise I would email or PM you directly.
Any specific tips, tricks, advice, suggestions, or feedback would be VERY helpful to me right about now! You can respond here, or PM me if necessary.
Help please,
Snazzlefrag