Units 3 and 4 Accounting Exam - My Last Minute Tips

[Damoz.G]

Hello Everyone,

Less than 48 hours to go until our Accounting Exam.

Here are some of my last minute tips for the exam:
* Make sure you work ahead of that 1 minute per mark sort of thing.

* Bring in lots of highlighters to highlight various important things, such as those damn dates!

* Use your Reading Time VERY efficiently.

* You will push for time - Everyone always does. So move quickly, but don't make those silly mistakes!

* Do the Questions with the content you are comfortable with first.

* Take note of the Dates, particularly for BDAs! Do not ignore them!!!!!

* Draw up Timelines! I've mentioned this quite a number of times the last few days and trust me - They will save you a lot of time stressing out over Questions.

* Go all out on those Discussion Questions.

* Take careful note of the setting out of the Accounting Reports - Look at the Examiner's Reports and memorise the how they are set out.

* When looking at the Examiner's Reports, clearly dig into what the common mistakes are that are constantly made by students. Would you be part of the group of students with the common mistakes?

* Memorise the make up of all Performance Indicators. You are not expected to calculate them in the exam, but you need to know the makeup of them in order to assess the figures.

* Remember, there are consequential marks in Accounting. If you make a mistake in a previous question and it doesn't look right, carry that same answer to the next question. e.g. If a question is asking for a Stock Loss in the Stock Card and you forget to use FIFO and thus calculate a different amount, then carry that same mistake onto the General Journal entry. You will lose the mark in the Stock Card, but you would still get full marks for the General Journal Entry - AS LONG AS YOU CARRY THE MISTAKE and the Details and Dates are all correct.

That's the main things to look out for.

Good Luck and all the best!

Damoz.

[Lucho23]

Awesome! Thanks Caparva (Why no Damoz? )

[massachusetts8]

Hello Everyone,

Less than 48 hours to go until our Accounting Exam.

Here are some of my last minute tips for the exam:
* Make sure you work ahead of that 1 minute per mark sort of thing.

* Bring in lots of highlighters to highlight various important things, such as those damn dates!

* Use your Reading Time VERY efficiently.

* You will push for time - Everyone always does. So move quickly, but don't make those silly mistakes!

* Do the Questions with the content you are comfortable with first.

* Take note of the Dates, particularly for BDAs! Do not ignore them!!!!!

* Draw up Timelines! I've mentioned this quite a number of times the last few days and trust me - They will save you a lot of time stressing out over Questions.

* Go all out on those Discussion Questions.

* Take careful note of the setting out of the Accounting Reports - Look at the Examiner's Reports and memorise the how they are set out.

* When looking at the Examiner's Reports, clearly dig into what the common mistakes are that are constantly made by students. Would you be part of the group of students with the common mistakes?

* Memorise the make up of all Performance Indicators. You are not expected to calculate them in the exam, but you need to know the makeup of them in order to assess the figures.

* Remember, there are consequential marks in Accounting. If you make a mistake in a previous question and it doesn't look right, carry that same answer to the next question. e.g. If a question is asking for a Stock Loss in the Stock Card and you forget to use FIFO and thus calculate a different amount, then carry that same mistake onto the General Journal entry. You will lose the mark in the Stock Card, but you would still get full marks for the General Journal Entry - AS LONG AS YOU CARRY THE MISTAKE and the Details and Dates are all correct.

That's the main things to look out for.

Good Luck and all the best!

Damoz.

I'm sure I can speak on behalf of several people but you have been an absolute legend!
I personally appreciate all the help, time and effort you put in to answering our questions and solving our problems.
Thank you is honestly an understatement but THANK YOU SO VERY MUCH!
Good Luck to you as well and I hope you get the score you want and deserve which I'm pretty sure is definitely 50!
Thanks Damoz. 

[Damoz.G]

Awesome! Thanks Caparva (Why no Damoz? )

Felt like change was needed. You can still call me Damoz - I don't mind.

 

I'm sure I can speak on behalf of several people but you have been an absolute legend!
I personally appreciate all the help, time and effort you put in to answering our questions and solving our problems.
Thank you is honestly an understatement but THANK YOU SO VERY MUCH!
Good Luck to you as well and I hope you get the score you want and deserve which I'm pretty sure is definitely 50!
Thanks Damoz. 

EDIT: Nawww....Thank you mate. Really appreciate the kind words! Accounting is my passion and I plan on studying it at Uni - Love it to absolute bits.

I'm just hoping for a 45 SS, but I'll still be happy with anything above 40.

[abcdqdxD]

In the words of a friend who gave me great advice for Economics this year, remember to "stay calm and write fast!" .

[Damoz.G]

In the words of a friend who gave me great advice for Economics this year, remember to "stay calm and write fast!" .

Yup, great way to put it.