05-24-2018, 03:18 PM
Wasn't sure where to put this, but just wanted to pass along the info.
This is great for fulfilling a managerial accounting requirement, especially instead of doing the managerial accounting TECEP. Cheaper, and the recommended study material for the TECEP is this Saylor anyway.
Final score: 80%
Any practice test scores: 76%
Length of study: 6 days
Resources used: Saylor
How I studied:
I went through the readings for each section. Pretty much skipped all the review problems, unless I really felt like doing a few practice problems. If there was a Tony Bell video, I watched that on x2 speed with captions and skipped the reading. I didn’t really take a lot of notes. If you can understand a concept, you’re probably good. I took the unit assessment, and if there was an area I had no idea on, I’d do some extra study on that.
Please review the practice test and make sure you understand what’s going on in the questions. Some of them might end up in the real test.
Stuff to know:
Master budget
Balance sheets
Journal entries (just make sure you can read/understand them)
WIP & equivalent costs (thought I knew this, but now I don’t think so)
Relevant range
Contribution margin
Keep/drop, make/buy, special order decisions
Differential analysis
Avoidable costs
Variance analysis
Standard costs
IRR
ROI
Cash flows (know how to calculate free cash flow, capital expenditure ratio)
Operating cash ratios
Just learn how to read/understand those fancy looking numbers
Notes:
I took nearly the entire two hours to finish the exam. I was taking my time, though – it wasn’t rushed at all.
You get access to a calculator during the test! No need to buy calculators. BUT. Do practice with it, as it does have some quirks.
I didn’t really memorize all the formulas, but it might’ve been helpful if I did. Again, if you can understand the concept, you’ll be able to remember the formulas easily or maybe even figure them out on your own.
It’s probably a good idea to take this shortly after taking financial accounting, but if you end up like me and put more than a year’s gap between the courses, no need to worry! This was a lot more fun than I anticipated (and math isn’t my strong point).
It has been said that all Saylor are not created equal (or something like that). This one is fantastic.
YOU CAN DO IT!
This is great for fulfilling a managerial accounting requirement, especially instead of doing the managerial accounting TECEP. Cheaper, and the recommended study material for the TECEP is this Saylor anyway.
Final score: 80%
Any practice test scores: 76%
Length of study: 6 days
Resources used: Saylor
How I studied:
I went through the readings for each section. Pretty much skipped all the review problems, unless I really felt like doing a few practice problems. If there was a Tony Bell video, I watched that on x2 speed with captions and skipped the reading. I didn’t really take a lot of notes. If you can understand a concept, you’re probably good. I took the unit assessment, and if there was an area I had no idea on, I’d do some extra study on that.
Please review the practice test and make sure you understand what’s going on in the questions. Some of them might end up in the real test.
Stuff to know:
Master budget
Balance sheets
Journal entries (just make sure you can read/understand them)
WIP & equivalent costs (thought I knew this, but now I don’t think so)
Relevant range
Contribution margin
Keep/drop, make/buy, special order decisions
Differential analysis
Avoidable costs
Variance analysis
Standard costs
IRR
ROI
Cash flows (know how to calculate free cash flow, capital expenditure ratio)
Operating cash ratios
Just learn how to read/understand those fancy looking numbers
Notes:
I took nearly the entire two hours to finish the exam. I was taking my time, though – it wasn’t rushed at all.
You get access to a calculator during the test! No need to buy calculators. BUT. Do practice with it, as it does have some quirks.
I didn’t really memorize all the formulas, but it might’ve been helpful if I did. Again, if you can understand the concept, you’ll be able to remember the formulas easily or maybe even figure them out on your own.
It’s probably a good idea to take this shortly after taking financial accounting, but if you end up like me and put more than a year’s gap between the courses, no need to worry! This was a lot more fun than I anticipated (and math isn’t my strong point).
It has been said that all Saylor are not created equal (or something like that). This one is fantastic.
YOU CAN DO IT!
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