intro to accounting final tomorrow

[vshah]

annnd i know nothing. exam in 6 hours...sweet!

why oh why did i take this class

 

[gorcorps]

last final for you ever and it's an INTRO class?

 

[state 08]

I took that 4 years ago... I remember:

Last in First Out (LIFO) and First In First Out (FIFO).

That's about it.

 

[vshah]

Originally posted by: gorcorps
last final for you ever and it's an INTRO class?

free electives requirement...I was too busy taking more interesting stuff before this, so i picked what i thought would be easy classes. This class is difficult for me since it is so much memorization of rules and little creative thinking.

 

[DaWhim]

you sure it will be your last final ever? not ever going back to school? maybe a master degree?

My last final was Econometrics II, glad that I passed it and graduated.

 

[CPA]

Originally posted by: state 08
I took that 4 years ago... I remember:

Last in First Out (LIFO) and First In First Out (FIFO).

That's about it.

Don't forget:

Assets = Liabilities + Owner's Equity

oh, and debits are on the left, credits on the right and EVERY entry MUST balance between debits and credits.

 

[RKS]

Originally posted by: CPA

Originally posted by: state 08
I took that 4 years ago... I remember:

Last in First Out (LIFO) and First In First Out (FIFO).

That's about it.

Don't forget:

Assets = Liabilities + Owner's Equity

oh, and debits are on the left, credits on the right and EVERY entry MUST balance between debits and credits.

That brings back bad memories. :laugh: After I took Accounting I and Accounting II I decided to switch to MIS; that's why I had to go back to school a few years later for a real degree.

 

[imported_DocHolliday]

Originally posted by: CPA

Originally posted by: state 08
I took that 4 years ago... I remember:

Last in First Out (LIFO) and First In First Out (FIFO).

That's about it.

Don't forget:

Assets = Liabilities + Owner's Equity

oh, and debits are on the left, credits on the right and EVERY entry MUST balance between debits and credits.

After 4 years in the business it makes me really miss those days of college when things were that simple lol

 

[Michael]

It is that simple, even in business.

What is hard is deciding how much and where vertically it belongs in the statements, not if it goes on the left or right.

<grin>

Michael

 

[CPA]

Originally posted by: Michael
It is that simple, even in business.

What is hard is deciding how much and where vertically it belongs in the statements, not if it goes on the left or right.

<grin>

Michael

good point. I didn't want to get too complex, but he probably will need to know the basic financial statement presentations, as well. Good luck with that, OP.

 

[dbk]

Go pull up some financial statements and read through it few times - that helps a lot. Maybe even a 10k.

 

[BoomerD]

I had my Financial accounting final last week. Glad to have that one out of the way.
THis week, I had finals for Computer accounting, (peachtree and quickbooks) Excel spreadsheets or accounting, and Income tax accounting.

Got "A"s in everything except tax accounting, and MIGHT get one in that class too. (grade not posted yet)

 

[krunchykrome]

lol, is accounting your major?

 

[axelfox]

Originally posted by: krunchykrome
lol, is accounting your major?

If Intro to Accounting is his last final ever in the world, I hope he's not an accounting major

 

[looker001]

How can your last final be intro? Are you dropping out?

edit:just read the thread, what is your major?

 

[vshah]

i'm just a poor computer engineer. i know jack shit about bonds or leases or intercorporate investments or FASB or any of that stuff

i just thought it would be an interesting/useful class.

anyway, i needed a 58% to pass and i'm pretty sure i got that so...woot!