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Accounting Trick Tips

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blong131
Posts: 2193 - Karma: 59
yeah so i put off my accounting final till the 2nd semester so i could go on a ski trip. It's tomorrow. I also put off studying till today.

anyone got any accounting trick tips?
Jan 26 2010 9:59PM
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eheath
Posts: 61652 - Karma: 123,518
Luck. I studied for about 10 hours day before my final and pretty sure i didnt get any better than a C- on the test.
Jan 26 2010 10:01PM
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Tinga
Posts: 11349 - Karma: 2,333
assets = liabilities + stock holders equity

knowing credits and debits

depreciation methods.
Jan 26 2010 10:01PM
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blong131
Posts: 2193 - Karma: 59
actually, i would say this is a decent trick tips. back to basics. so thanks haha
Jan 26 2010 10:29PM
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blong131
Posts: 2193 - Karma: 59
a decent trick tip. singular.
Jan 26 2010 10:29PM
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switchskier206604
Posts: 497 - Karma: 36
youtube.com for any accounting tutoring needs. plenty of professors on there giving accounting and finance advice / instruction / tips. whatever you need.
Jan 26 2010 10:37PM
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dmc12380
Posts: 3545 - Karma: 792
if you got a day left for studying then learn how to cheat.

i studied for 2 midterms 2 weeks in advance 6 hours a day and got 50's on both.

but got a 95 on my final so i saved my ass
Jan 26 2010 10:44PM
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switchskier206604
Posts: 497 - Karma: 36
As an accounting tutor, I would advise against this. . . .  LOL but fuck, yea... shit, man... I'm not doin it.
Jan 26 2010 10:47PM
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blong131
Posts: 2193 - Karma: 59
disregard women acquire currency

1 hour left studying haha

and fuck this, same day as this make up final i find out im not goin to mount snow for the weekend! fuck the weather EC just got, im gettin hammered for the whole weekend /rant
Jan 27 2010 11:30AM
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Barefootin_Fiend
Posts: 7618 - Karma: 4,727
which accounting class is your final in?

if it's 100 level accounting, just remember a=l+e & know how to use t accounts.
Jan 27 2010 1:06PM
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mark.p
Posts: 1422 - Karma: 10
Remember ACE LOR for debits and credits. 
ACE = Assets, Cash (I can never remember C), Expenses = Debits on the left
LOR = Liabilities, Owner's Equity, Revenue = Credits on the right
Jan 27 2010 2:06PM
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eheath
Posts: 61652 - Karma: 123,518
A = L(liabilities) + O(owners equity) + R(revenue) - E(expenses)

If you don't know cash is an asset then you might need to retake.
Jan 27 2010 2:15PM
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RRhighrider
Posts: 2141 - Karma: 1,141
That acronym is used for t-accounts.  This is used to know what side  of a t-account a transaction goes on.  Basic accounting classes are really easy.
Jan 27 2010 2:59PM
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