Accounting Coursework Prepares You for Next Steps Cumulatively

Accounting coursework is the practice that prepares you to pass the final and move on to either higher level classes or on-the-job experience and professional licensure.  As such, it requires that you work “smart” as well as hard.  Here are some thoughts on getting the most out of your coursework in Accounting, in addition to learning a presentable grade.

Make sure that your Accounting course works to prepare you for your next step:Accounting is a cumulative subject.  Each class meeting and assignment builds towards the next one.  Thus, if you anticipate skipping class or assignments, consider taking this course at another time when you can better focus on it.

Take advantage of all opportunities for practice and explanation:

• Recitation/help sessions with professor or teaching assistant
• Study groups
• Tutoring by peers or professionals recommended by college – be prepared to pay for this help
• Study partners – contribute as much as you receive to maintain good relations
• Individual study
• Online resources, such as this: http://www.businessbookmall.com/

If you have language deficits, look for helpers with good verbal skills. If you are weak in math, seek out partners for study or tutors who can explain even simple calculations and equations to you clearly.  You might need to try several; graciously!

Do you know how an Accounting course works?

You can expect to cover all of the following issues in varying levels of detail, depending on the level of the course:

• the basic accounting equation,  differentiating debits versus credits;
• the accounting cycle’s seven basic steps for a simple business;
• special and subsidiary ledgers journals;
• internal cash control procedures, for example, bank deposit reconciliation, and handling petty cash;
• recording uncollectible receivables using the methods of direct write-off method and allowance;
• three methods for computing the cost/value of inventory; perpetual, periodic, and other than cost;
• depreciation, computed via three different methods, recording the disposal of fixed assets, depletion, and intangible assets;
• Recording other assets/liabilities, such as notes, warranties, payroll/ insurance.

Assignments could include problem sets at the end of each section; using DVD/CD based materials to simulate accounting software, quizzes, tests, and possibly a paper. All these will evaluate your grasp of cumulative material and concepts, and will be based on real life examples of the accounting cycle in action as much as possible.

Keep up, no matter what, and remember that this is all real, important stuff, not theoretical!  Accounting keeps a firm legal!