ACCOUNTING 101, EXAM TIME AND I NEED TO KNOW!?

Fisrt year accounting as well as about to do exams if we were to do it all over what would we have been certain to know when we did your exam? What came has the surprise. Any tips for me! Yes I will review my notes!

{ 2 comments… read them below or add one }

Acctman August 7, 2010 at 12:10 pm

You must have the chapters that will be on the exam. Review the syllabus closely to be sure you are not missing anything. . For starters know your debits and credits, know the accounts that make up the Balance Sheet (Assets, Liabilities and Owners Equity) and know the accounts that make up the income statement. Understand how the transaction effect the balance sheet and income statement.

Put in the time and study hard, it will be worth ut.

Good Luck!

NYPR69 August 7, 2010 at 12:32 pm

Accounting Principles are a must.

I have a tip for you if your credit and debits don’t match.
When I was taking my finals I was off by $7 I tried for hours (home finals) and could not find the$7. I took a break came back and the answer was staring me right in the face. It wasn’t $7 but $3.50 I had doubled up in a credit or debit column. So if you have a similar problem try dividing

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