Passed principles of accounting- 59. I couldn't have done it without all of you, specifically Snazz and Kiwi Lover. A HUGE THANK YOU! During the test, I had to keep reminding myself to move on from the calculation problems. Even though I may have known the formula, I really didn't have time to apply them. I mostly read over chapter summaries and reread those areas where I was foggy. Concentrate on basics... where have we heard that before?!?
I didn't have time to do anything but part one managerial on IC once. I picked up most of my managerial knowledge by practice exams. A sigh of relief and a movie tonight for this family!
For those yet to take it-- don't leave any question unanswered and know the basics.

what are the important points in Managerial accounting that came in the exam?

thanks!

i'm sorry i made an another accounting thread but i have the exam in about 14 hours and i need to know ASAP.

What is the practical difference in these? Is one for expense recognition and the other as a "holding" account until you credit cash when you pay it? When that electric bill comes in,do you utilities expense or utilities payable it first? Thank you in advance.

Got a B

used instant cert but my secret weapon was not only taking the excelsior practice tests, but also saving screen shots of each question BEFORE answering.
So instead of taking this test one time, I got to take it as many times as I wanted with the screenshots serving as flashcards.

Screenshots are the way to go for practice tests

Good luck!!

In the official study guide, question 40 is as follows:

Net purchases for the year amounted to $80,000. The merchandise inventory at the beginning of the year was $19,000. On sales of $120,000, a 30 percent gross profit on the selling price was realized. The inventory at the end of the year was ($15,000)

I don't know how or why it's $15,000.

Ok, so I finally found a place that gives DSST exams and they are all computerized, which I assume means I will see my score as soon as I finish the exam?

Anyway, I have taken Statistics years ago and received a "C" and I have taken Business Math and recieved a "B". Now that I have really taken to testing out of courses, LOL, I want to take these two exams and improve my GPA. Anyone know what are the best materials to prepare? I believe many have had success with STATS FOR DUMMIES, is that enough to pass the stats exam?

Want to see where your US tax dollars are going? Look at this overproduced web site on the US foreign born population. Maybe Excelsior should have the US Census print our graduation certificates.

Foreign Born Interactive Quiz

Here's a site with some relevant material:
Population Growth

Begin Rant:

Well my diploma finally arrived last week, and let me tell you how disappointed I was in it. A group of middle school kids could have come up with a better design. It is on beige cardstock, 8 1/2" X 11", in black ink, with a stick-on gold seal. It is gaudy and NOT something I would put on my wall. When I walked into a graduate's office in the past, I always admired seeing the big diploma, it always looked fancy and made a statement about their accomplishment; this diploma sends a whole different message.

I just got off the phone with their Records Department; I asked if there was some way to get a better one, I was told "that's it". The part that really torques me is that I paid $480.00 for "Graduation Fees", this consisted of them sending me a crappy diploma and a transcript...minus my GPA I might add. To get something official with my GPA on it, I have to write them and request they mail it to me.

I always had good experiences with them during my coursework and the people were great, however, they have really dropped the ball on the diploma. It was a lot of work to accomplish just to be given something I could make in MS PowerPoint in about 10 minutes.

I hope CCU's looks better. Lee

End Rant

Are loans debited to the cash account, or not (they aren't in the question)? Where do they go if not?

http://www.college.hmco.com/accounting/m...index.html
I believe this link first came to me by Snazzlefrag(what would we do without you!!) It is a great resource to solidify the basics. You can even choose the area you feel you're weak. By the way- I changed the test date to tomorrow at 1pm PST.