Principles Of Accounting - The End Is Near

[snazzlefrag]

Dont feel alone. I am taking it too on "Thursday. I feel you on the Managerial part. Way over my head. I am just praying real hard right now. I haven't even got a passing on the petersens yet. my last score was 42. Good luck to you!!!

Hey All,

At no point did I grasp EVERY accounting concept while I was studying for Principles of Accounting. Nor did I NEED to grasp every concept to pass the exam.

Remember that most questions on the exam will be in the AVERAGE range of difficulty. Then there will be some that are just plain easy, and some that are crazy difficult.

The key is to make sure that you know ALL the basic principles, concepts, definitions etc., like the back of your hand.

Next, give learning the harder concepts your best shot. Just keep battling away at them and see what sticks.

As for the REALLY difficult stuff (you'll know when you have hit this stuff because your ears will start to bleed)....I never fully grasped it, nor did I spend much time TRYING to grasp it...I'm not an accountant, and the exam is called PRINCIPLES of Accounting. So I read over the very difficult stuff, scared myself senseless, and then quickly backed off.

Do you get what I am saying?

When I was studying for this exam, every time I found myself in shark infested waters, I quickly swam back towards shore and the safety of the BASICS.

I sucked at the most difficult concepts....but you'd better believe I knew the ins and outs of all the basic and average difficulty stuff. It got me a 68 on the exam.

If you spend too much time trying (possibly in vain) to learn the truly advanced stuff, you will waste time that could have been better spent MASTERING the easier stuff.

Let's imagine that the exam is made up of 100 questions. Now let's break it down this way (for the sake of argument)...

20 Very Difficult Questions
60 Average Difficulty Questions
20 Very Easy Questions
---
100 Total Questions

Let's remind ourselves that EVERY question, no matter how easy or how hard, is worth exactly the same as any other question on the exam.

You've got the "20 Very Easy" questions pretty much covered. You could get those correct even if you hadn't studied. The issue now is....do you invest your time mastering the "Average" (possible 60 points), or do you invest your time trying to master the "Very Difficult" (possible 20 points)?

Which will likely bear most fruit on the exam?

Hope that helps,
Snazzlefrag