A GUIDE FOR STUDENTS STUDYING ACCOUNTING

The following study guide is a series of rules and suggestions

which, if followed, will help you achieve the maximum results for
your study efforts. Although there is no substitute for HARD
WORK and a DESIRE TO LEARN, most of you can use your study time
and classroom time more efficiently.
READING THE TEXTBOOK
------------------1. Studying accounting is not like reading a novel or even like
----------------------------------------------------------studying history, sociology, or economics.
----------------------------------------a. Each assignment in accounting BUILDS on previous
assignments. If you do half-hearted work in Chapter 1 and 2, you
may be confused by Chapter 3 and lost by Chapter 4.
b. Accounting books are condensed. Almost every sentence is
important. Scan reading just does not work!
2. Read to understand "WHY."
-----------------------a. This is a technical subject, it is logical, and it
requires reasoning.
b. Strive to be able to say, "I understand why they do
that." If you can understand "WHY" in accounting, there is very
little to memorize.
c. Try to explain every new topic in your own words.
Putting the new ideas into your own words is better that reciting
the words of the text a hundred times.
3. Work problems to understand "HOW."
--------------------------------a. Even though you understand "why they do that" in
accounting, you must be able to do it yourself. This is a
do-it-yourself course.
b. To be sure that you understand "how" as well as "why,"
work the problems that are shown with the reading material.
Don't copy the book. Try your own skill and then check your
answers.
4. Remember "why"and "how.
---------------------a. Go back to previous chapters and notes to refresh your
memory. Rework problems that were difficult for you. Try to
work extra problems that are similar to the assigned homework.
b. Never wait until examination time to review your
accounting.
The REVIEW-AS-YOU-GO plan produces better results, doesn't
take as long, and saves all that last minute worry and sacrifice

of other courses. The forgetting curve is the mirror image of

the learning curve. You forget as fast as you learn
It is a scientific fact that information that has been
forgotten requires that it be relearned, requiring the same time
it took to learn it the first time.
5. If there is something you do not understand, prepare
specific questions to ask your instructor. Some students keep a
notebook of points with which they have questions. PIN-POINT THE
ITEMS THAT YOU DO NOT UNDERSTAND. Don't make vague comments to
your instructor such as "I don't understand any of this
material." Such statements are a strong indication to the
instructor that you have made no attempt to try to understand,
and will receive very little sympathy or help.
WORKING HOMEWORK PROBLEMS
------------------------1. READ THE PROBLEM! Read the instructions and scan the
problem to see what is ahead.
2. Work the problems without "PAGE FLIPPING" back to the
chapter.
a. When in doubt, look back at the chapter -- but NOT until
you have tried to do the problem on your won. This indicates
that you do not remember the chapter material. You are not
prepared for an examination.
b. The "PAGE-PLIPPING" method is guaranteed to waste a
maximum of your time and to produce a minimum of results.
3. Keep up with the class!
CATCH UP!!

IT IS EASIER TO KEEP UP THAN TO

A. Check your problem against the solution presented in

class.
b. Be sure that you understand the correct solution.
4. Note the part of the problem with which you have difficulty
and ask questions during the classroom session.
MAKE BEST USE OF CLASS TIME
--------------------------1. Classes are never interesting unless you TAKE PART.
2. ALWAYS BE PREPARED before you go to class.
3. DO NOT BE AFRAID TO ASK QUESTIONS. If you have a question,
at least ten other students probably have the same question but
are afraid to ask because it might sound like a dumb question.
4. Students who make FAILING GRADES also fail to attend
classes, fail to pay attention during class, fail to have their

homework,and fail to ask the instructor for help until it is too

late. And when they do ask, it isn't for help. They go to the
instructor to offer poor excuses for poor performance which the
instructor has heard from other students over the years.
Remember, when you start your career after graduation, excuses
won't be a substitute for poor performance; nor will it earn you
a grade in this course.
PREPARING FOR EXAMS
------------------1. Be specific in your study; concentrate on the things which
seem to be most important.
a. Note items that the instructor emphasizes in class.
b. Note homework problems that are assigned.
2. Do not stop with just "getting the idea." Be sure that you
can work problems without the aid of the book. Practice by
teaching the material to someone else. Study groups of two or
three students work well for this purpose.
3. Every exam has an element of speed. Have your "hows" and
"whys" at your finger tips. If you are slow, you probably need
to study more.
4. The questions on exams approach the material from a slightly
different angle to test your ability to REASON AND UNDERSTAND
rather than your ability to memorize.
5. When taking exams, many points are lost and questions missed
because the student does not READ THE PROBLEM. This is
especially true with multiple choice questions. Read what the
question is really asking, not what you think or want it to
ask..AVOID CARELESS ERRORS. On each exam, assume that you have
made several careless errors and allow enough time at the end of
the exam to look for them.
6. An excellent strategy to use when taking an exam is to
quickly look through the entire exam and answer all of the
questions that are easy for you. Those are "sure" points and
help to relieve the pressure when you go back to work on the more
difficult and time-consuming problems.
7. The greatest weakness in a student's ability to take an exam
is to keep up a good STEADY PACE without the clock causing the
student to panic. Remember, when you panic by constantly
thinking about the time factor, the mind closes up on you and
that ends any chance you have to do well. It is better to
concentrate on answering only 80% of the questions and getting
them all correct than to answer all of the question and missing
half of them. Of course it is best to answer all of the questions
and get them all correct, which is only possible if you
concentrate, keep your composure, and maintain a steady pace.

END

Ace Your Accounting Classes: 12 Hints to Maximize Your Potential

December 30, 2008 by David Albrecht

This article was published in the American Journal of Business Education.

I am entitled to place a

copy on my personal web site, so am placing it here at this time. Click here for a pdf copy.
The complete citation is:
Albrecht, W. David. (2008). Ace Your Accounting Classes: 12 Hints To Maximize Your
Potential, American Journal of Business Education, Volume 1, Number 1 (Quarter 3), pp. 1-8.

ABSTRACT
Many students experience difficulties when they try to get good grades in their accounting classes, and
they are searching for answers. There is no single answer. Getting a good grade in an accounting
class results from a process. If you know and understand the process-and can apply itthen your
chances are much improved for getting a good grade. I recommend a process that includes twelve
steps: (1) know what the professor expects, (2) be your own teacher, (3) work hard from the first day,
(4) attend every class, (5) take good notes, (6) participate in class, (7) read the textbook several
times, (8) look for patterns, (9) do the homework, (10) study with a friend, (11) study long and hard
for each exam, and (12) live healthfully.

INTRODUCTION
Brenda was just one of about 100 students spread across three sections of first semester Intermediate
Accounting in the fall semester, 1992.

She was neither quiet nor outspoken, and I regret to say that

through the first third of the course I barely noticed her. When I handed back student answers for the
first midterm exam, a red D+ dominated hers.

As I collected student exam answers at the end of class, I noticed Brenda was
clearly peeved. She blurted out that she would not ever do that poorly on an exam again. She firmly
set down her exam, and then marched stridently out of the classroom.
Fat chance, I thought. A low exam grade is serious, frequently symptomatic of a persistent disease
called poor study habits. Although most students hope to turn it around, they dont. They cant,
because they simply dont know how to study properly for an accounting class. The disease can be
cured, but it takes a change in an outlook as well as considerable effort.
Brenda fooled me. She became more vocal in class, and soon her comments reflected an amazing
insight. She had the high score on each of the two remaining exams, and finished with one of the
highest scores overall and a very solid A. What a fantastic turn around! She later confided that she
initially underestimated the course. Her first exam score was a wake-up call, signaling the need to get
serious.
Shes one of my all-time favorite students because she became such an active learner. Her grade of A
was a by-product of a greater rewardthorough mastery of accounting topics and a keen
understanding of how to use her knowledge. Now a successful tax specialist, she occasionally returns
to campus speaking on the desirability of an accounting career and how to be successful at school and
on the job.

Through the years, several

dozens of students have asked me how to fare better (i.e., get better grades) in their accounting
classes. I am able to offer general advice because accounting classes invariably are driven by content
and hence have many similarities. The primary focus is for students to acquire a detailed knowledge
of the rules. But thats not all, students should also understand the accounting rules and develop skill
in applying them. What follows is my advice for acing a content-driven accounting class.

KNOW WHAT THE PROFESSOR EXPECTS

Almost without exception, every accounting professor cares deeply for his/her students. W e are
anxious to see students do well. We are excited to assign high grades (i.e., A or B), and we regret
having to assign low grades (i.e., D or F). So why is the grade point average for most accounting
classes so low (typically near the lowest at many universities)?
Accounting professors have high expectations, and seldom make exceptions when assigning grades.
These high expectations are a product of both our history and our make-up. Successful business
operations have always depended upon accurate records and summary financial reports. An essential
job qualification for accountant or bookkeeper is a sharp eye for detail, to be a very precise individual.
Accounts otherwise would be filled with errors. In professional schools of business, accounting
professors usually have a significant amount of practical experience and have reinforced their
tendency toward precision. With a keen sense of discernment, we read test answers and mark as
incorrect any that arent right on the mark. Unfortunately, far too many students are imprecise in
their knowledge and understanding. The following descriptions will help you understand an accounting
professors expectations.

Accounting professors generally have well-defined standards when assigning grades for a course or
test. The grade of A requires excellent performance on exams, quizzes and homework. Exam scores
are perfect, or very close to perfect. This is doable. I regularly get at least a dozen perfect exams
each semester. An A student has risen far above memorization and knowledge recall. An A student
has identified and learned patterns and is able to apply them correctly to any question the professor
asks. An A student wants tough test questions to show how thoroughly he or she has mastered the
concepts and material. Such a student expects the grade of A when taking a test or course, virtually
daring the professor to ask a question that cant be answered. The professors high expectations have
become the students.
The grade of B requires very good performance. Students really know their stuff, having a very good
understanding of the big picture and all concepts and procedures. They receive a B because on test
questions they make too many small errors on too many topics. Of course, work having patterns of
errors is by definition imprecise, and the grade of A requires precision.
C stands for competent, not consolation prize. I know many students dont like a grade of C, but
accounting professors believe it is nothing to be ashamed of. Many students receiving a C are
inconsistent, a few errors on some topics and many on others. A common characteristic of students
receiving a C is that they are only familiar with the material. They can recognize correct answers, but
they have difficulty in creating them. When listening to a professors lecture and reading the
textbook, accounting topics make sense to them. However, they are lost when their textbook or notes
are not in front of them. This is because they have not picked up on the recurring patterns of
accounting. They have learned solutions, not processes. Students receiving a grade of C often try to
memorize everything (text examples and homework solutions). When studying like this, they get
tripped up two ways. The sheer volume of the material overwhelms them and they get confused
recalling snippets at the wrong time on the exam. A second adverse result occurs when the professor
asks an exam question in a different fashion from the textbook examples, the student is unable to
adapt.
Other students are not very well acquainted with the material. If a student can show a fair
understanding on more than one topic, he or she can usually receive the grade of D. A grade of F is
for when test performance is very far from perfect on most (if not all) test questions. A professor
looks at such tests and laments the student has learned nothing of lasting significance from the course
so far.

Now that you know what is expected for a high grade, the following hints explain how to get it. Acing
your accounting class is an attainable goal. It depends less on high intelligence or on brute effort than
on smart study. If you are smart enough to get into college, then you are smart enough to do well in
your accounting classes. If you follow the remaining hints, then you greatly increase the likelihood
that your accounting professor will be assigning you the grade of A.

BE YOUR OWN TEACHER

As a student, your primary goals in learning are to gain (1) knowledge or (2) understanding of or (3)
skill in (Merriam-Webster). Your professor is formally charged as your teacher. Given heavy teaching
loads, though, it is unlikely that you will have anything more than brief and sporadic occasions in
which your professor personally instructs you or assesses your learning status. Is all lost? No, not at
all. The true value of a collegiate education is the journey of discovery followed to learn the material
set before you. In the future you may forget some of the knowledge or it may be superceded, but
your experiences cannot ever be taken away.
In a content driven class, the functions of your professor are (1) to present the course content you are
supposed to learn, and (2) to explain it so that there should be no confusion about it on your part.
How you go about it is up to you! You should go about it by studying smartly. It is not the professors
function or responsibility that you should learn the material, only that it be presented in a learnable
manner. Perhaps you have heard the words of wisdom, A horse can be led to water, but it cannot be
forced to drink.
Studying smartly starts when you take stock of how much prior knowledge and understanding you
possess when given something to learn. Getting from here (point B, C, D, or F) to complete and
precise mastery (point A) must be planned for. Of course you should work hard from the first day
(#3), attend every class (#4), take good notes (#5), participate in class (#6), read the textbook
several times (#7), look for patterns (#8), do the homework (#9), study with a friend (#10), and
study long and hard for each exam (#11). However, the amount of effort you expend on each one is
up to you. So, how much effort should each one take? It depends on you. As you study, you should
continually assess your progress and your up-to-the-hour level of knowledge. If you dont monitor
your own learning, there is no one to do it for you. You must accept the responsibility and be your
own teacher.

WORK HARD FROM THE FIRST DAY

Students who are current in the course-avoiding procrastination-invariably do better. They study from
the first day and dont let up until the course is over. Why? Study time spread over several days or
weeks is more efficient and effective than cramming. Psychologists have discovered that time spent
cramming results in poorer recall than the same amount of study time spread over a period of days or
weeks. Spread out over time, students have more opportunities to think about the material,
contemplate potential applications, associate knowledge with concepts and let their subconscious mind
work on learning. In other words, there is a higher upside.
Invariably, exams and assignments for other courses fall due at the same time as an accounting
exam. If students intended to rely on cramming, their anxiety and stress levels increase when there is
simply too much to learn in the allotted time. Anxiety and stress have been consistently shown to
impede frontal lobe activity and learning. Consequently, students have more difficulty in getting the
grade they want.
It can be very difficult to catch up once behind. Students that get behind have at least twice the work
load of students that are caught up, because they must simultaneously study both earlier and current
topics. Having to learn both at the same time usually results in learning both poorly, because later
topics course frequently build on the earlier topics. If you dont learn the first topic, then it is nearly
impossible to learn the second topic and the third topic cannot be learned, only memorized. For
example, students that put off learning present and future values have difficulty in learning other
topics that use it (e.g., long-term liabilities, leases and pensions).

ATTEND EVERY CLASS

There is a high correlation between regular class attendance and earning a good grade in a course.
Said another way, cutting a lot of classes will likely cost you at least one letter grade. Class is a great
opportunity to -sit at a professors feet and hear his/her perspective on the topic of the day. Chances
are that the professor has three degrees in accounting (Bachelor, Master, Ph.D.), and has picked up
many insights that will be passed along in class.
Another reason for everyday attendance is that most professors focus class presentations on the most
difficult topics, so its likely that many questions will be answered during class. I recommend thinking
of time spent in class as concentrated study time. When in class, there should be no reason to think
of anything but accounting. If your mind wanders while in class, yank it back. If you are bored by the
professor, spend class time thinking of how you could be more interesting presenting the same
material.

For any who believes he or she already know everything about the scheduled topic, there is still a
benefit to attending a class. Class coverage reinforces material already studied, an important key to
learning. When more time is spent going over key topics, the deeper the understanding, the better
the recall and the higher precision will be when taking an exam.
Finally, most professors focus on their most familiar topics and issues. Most professors also test on
their most familiar topics and issues. Do you see the link? If these reasons dont work for you,
remember that tuition has been paid and you might as well get your moneys worth by attending
every class.

TAKE GOOD NOTES

All students should take good notes in class, whether the format is lecture or discussion. Said another
way, taking good notes is essential to getting a better grade. Research has shown, however, that
most students dont take good notes. There are several ways to improve notetaking.
First, recognize that you should have at least one full page of handwritten notes for each 25 minutes
of class. Second, your notes should capture the professors description of each accounting rule and all
related examples. Your professor expects you to study and learn the examples, so make sure you
dont miss any.
Write down everything put on the board when your professor lectures. If the professor puts it the
board, he or she definitely wants you to learn it. Unfortunately for note takers, not all key points get
written on the board. So listen carefully, identify the professors conclusions, and get down all key
points. When the professor works a number-intensive problem at the board, note both the number
and how the computation is performed.
The most difficult type of class to take notes for-let alone learn anything-is one in which the professor
lectures and relies upon Microsoft PowerPoint. There are several reasons for this, but two are
described here. First, more than one hundred research studies have documented a phenomenon
called death by PowerPoint. In a PowerPoint class, all (or most) of the communication and intellectual
activity is being performed by the professor. Consequently, merely staying awake is a noteworthy
accomplishment. Second, PowerPoint enables the professor to bombard students with much more
detail than possible when the professor is limited only to the spoken word.

The best way to take notes in a PowerPoint class is simply not to take any. Rely upon the file of slides
provided by the professor. If the professors PowerPoint slide file is incomplete (i.e., it only contains a
sections main heading or questions), then focus on reading the textbook.
Taking notes is different in a discussion-oriented class, as the how-tos will be offered by students, not
the professor. In a lecture class, concentrate on what professor says, but in a discussion class you
must focus on the professors questions. Always write down the professors questions as they provide
a blue print for the entire discussion. Dont be reticent about asking a professor to repeat a question,
as the professor will think of you as a good student. For the student discussion offered as a questions
answer, listen and evaluate before adding anything to your notes. This is because discussion points
raised by students can be correct or incorrect. Upon hearing something worth noting, write down only
a few phrases. Elaborate on these immediately after class while they are fresh in your mind.
Notes should be rewritten within 24 hours of class! Why? One benefit is that it reinforces the key
points made in class. Another is that the notes will be properly organized and neat, which should
make study for the next exam all the easier. When finished with rewriting your notes, you should
have a complete story as to what occurred in class. If there is not enough time both to rewrite your
notes and read the textbook, you should rewrite your notes.

PARTICIPATE IN CLASS
Given the same amount of study time, students participating in class learn the material better than
those not participating. In other words, class participation can help you get a better grade. A proper
frame of mind to adopt is to seize ownership of the class. It is your class and you should care about
everything that happens in it. When the professor is lecturing, imagine that he or she is speaking
directly to you! In addition, the professor expects a response, from you. There are several ways to
respond. Asking questions and volunteering answers (dont be afraid of a wrong answer) are two
ways. Writing down your thoughts is another. Your professor might be flexible enough to permit you
to ask questions or explain something by whispering to another student. Be courteous and dont
disrupt the class.
If the professor uses presentation software (e.g., Microsoft PowerPoint) and places the file on-line
prior to class, then download it and review it prior to class. This makes it possible for students to
formulate questions in advance so they can ask them at appropriate times. Prior review of the class
outline enables students to be ready to move forward with the professor from the first minute of

class. Ask questions in class and volunteer answers to the instructors questions. Dont be afraid of
wrong answers, as you can learn from your mistakes.

READ THE TEXTBOOK SEVERAL TIMES, AND READ IT WELL

Reading an accounting textbook is much like reading an encyclopedia. It is knowledge and factually
oriented, and difficult to swallow in one gulp. No chugging is allowed. Chapters are long with about 30
pages of words and numbers and 20 pages of homework problems-fifty pages in all! Critical reading is
the key to learning the detail-oriented material in long chapters.
The first reading of the chapter (about 20 minutes) is more of a leisurely skim. The goal is to identify
the chapters topic. The second reading should be very thorough, taking two to four hours. Jot notes
in the margins, use a highlighter, and take notes. Each example in the text should be worked by
hand. Later, when doing homework problems, refer back to the relevant pages (the third reading).
After the topic has been covered in class, read the chapter a fourth time. The goal now is to tie
everything together. Observe how key concepts and principles (e.g., asset characteristics, matching
principle) are reflected in the chapters coverage. When studying for an exam, there is no need to
again read the chapter. Use it only as a reference.

LOOK FOR PATTERNS

After taking good notes in class and critically reading the text book, students are in good position to
identify the key patterns. A pattern is a form, template, or model. Applied in accounting education, a
pattern is a general set of rules used to solve homework and exam problems. When studying a
general topic area (such as the accounting for inventories), the goal is to develop a summary of the
rules broad enough to cover most homework and exam problems and specific enough to provide
guidance for dealing with accountings details.
Start by creating a numbered list of steps for working a problem. Then, with this list as your guide
(i.e., the textbook is closed), start working homework problems. If you cant accurately complete a
problem with your initial list, then add a few words of explanation or another point. If you have
worked three or four problems and you havent used one of your points, then please delete it. Your
goal is to develop light-weight but heavy-duty patterns.

DO LOTS OF HOMEWORK
Accounting rules are man-made. Not always self-evident, they must be learned by a process that
includes repetition for reinforcement. When I was a young accounting student, a graduating senior

gave me excellent advice. He advised me to work every exercise and problem in the text book. I
eventually found this to be an attainable goal. In a little more than four hours (spread over two or
three days), I could organize the key parts of the solution to all exercises and problems. I recommend
all accounting students do the same.

STUDY WITH A FRIEND

Wouldnt it be great if you could find a non intimidating environment in which to learn? You can, by
studying and working problems with a friend. The major benefit from working with a partner is to
gain practice in explaining what you know. You are asked to explain what you know on exams, so any
practice you can get will help. Therefore, dont pick the smartest person in the class with which to
partner. A second benefit from working with a partner is that you can listen and evaluate what is
being said to you. In class, a natural assumption is that the professor is always correct, but not so
with a study partner. Being forced to think while you listen is invaluable, and every bit as important as
thinking before you speak.

STUDY LONG AND HARD FOR EACH EXAM

Acing your accounting exams takes real work and a lot of it. After putting into practice the preceding
nine hints and the date of the exam is fast approaching, you are ready for exam preparation. I
recommend about 15 hours of study just for exam purposes. Fifteen hours seems like a lot of time,
and it is. The benefits that accompany an A usually come with high opportunity costs. Its a lot easier
to hang out with friends, watch videos, watch TV, play X-box or other games, or just have fun, than to
spend time studying an encyclopedic subject. Also, like many other students you probably spend an
average of 30 hours per week at a job. Never-the-less, you defeat an important reason for going to
college if you dont adequately prepare for a test. You must somehow strike a balance between the
hours you spend working and the hours you can spend studying. You must have self-discipline and
not partake of your normal recreational activities until after the test.
The first step in preparing for a test is to identify what the professor expects you to know and how
well. This step is fairly easy if your professor has distributed an exam preparation guide. This guide
generally lists the major topics to be tested, along with the type of question format. You should study
everything on it, and nothing else. If your professor has said simply, -You are responsible for
everything covered either in class or in the text book, then you have your work cut out for you. Go
through your notes and form a checklist by listing all topics and sub-topics covered. For example,
coverage of cost-volume-profit (CVP) from managerial accounting might have the following eleven
item checklist: Using the contribution margin, compute the number of units needed to (1) break

even, (2) reach a target profit of x dollars, (3) reach a target profit as a percentage of sales revenue;
using the contribution margin percentage (CM%), compute the amount of total sales revenue needed
to break even, (5) reach a target profit of x dollars, (6) reach a target profit as a percentage of sales
revenue; (7) compute the number of unitsneeded for the equal profit between different cost
structures; (8) perform CVP analysis when variable costs per unit; (9) perform CVP for multiple
products; (10) compute sales price when number of units, costs, and target profit are known; (11)
explain the reasons why CVP is used. If your test is to cover several chapters, your check list could
easily have dozens of items.
The second step in preparing for a test is to identify the test format. If your test is going to be
multiple choice, your study will necessarily be different than if your test is going to be problems and/or
written answers. For a multiple choice test, you should definitely study every topic covered either in
the textbook or in class, but you dont need to study any topic as deeply as you would if you were to
have a different type of test format. You only need to be able to recognize correct answers.
Professors use multiple choice questions to test your breadth of knowledge. That is, you are usually
tested to see if you are familiar with almost every topic covered. Multiple choice questions dont
assess application or interpretation. Does your professor have a reputation of using a textbooks bank
of multiple-choice test questions? If so, your focus should be to study the book. Does your professor
write his or her own questions? If so, your focus should be to study your notes. For a multiple choice
test, the best study aid is the use of flash cards. These take a significant amount of time to make, but
they are worth it as you drill yourself on the knowledge to be covered on the exam.
Work old exams, go over notes, and work new problems. Concentrate on principles and patterns, and
being able to apply them in varied settings. It is not a good idea to work and rework the homework
problems because you will have them memorized after you look at them two or three times. It is
better to work new homework problems.

LIVE HEALTHFULLY
The final hint is often overlooked by students, to the detriment of their GPA and general physical
health. Your health must be good to think well and learn effectively. Failure to live healthfully makes it
more difficult to get good grades in accounting. Your frontal lobes (the portion of the brain where
cognition and learning take place) can react negatively to six lifestyle factors. More important, any of
these six negative lifestyles will degrade your quality of life and significantly shorten your expected life
span.

Sleeping less than 8 hours per day on a regular basis. Over a prolonged period of time,
your expected life span will be shortened five to eight years for each hour you are short of
the daily goal. Simply put, regularly get a full night of sleep.

Staying up late at night. Humans sleep better and more healthfully at night than during the
daytime. Getting at least two hours of sleep before midnight is essential to a high quality
night of sleep. You will most likely guarantee a poor grade if you stay up late the night
before a test. Always staying up late can shorten your expected life span by at least two
years. Simply put, go to bed early.

Drinking any beverage other than water. Regularly drinking any of the following beverages
can reduce your expected life span by several years and makes it difficult for your brain to
function properly: caffeinated (coffee, tea, cola), carbonation, artificially sweetened, sugar
added and alcoholic. Simply put, you should drink two or three quarts of water daily.

Eating foods containing meat/fish, dairy products and animal fats. Vegans on average live
fifteen years longer than those regularly eating a diet heavy in meat, dairy and animal fats
(and they enjoy life more). Eating foods rich in refined sugar and preservatives also makes
it more difficult for you to get a good grade in your accounting classes. World class
professional athletes and physically attractive entertainers have known for years about the
link between a vegan diet and excellent physical health. You can learn from their
experience. Simply put, eating meals consisting of fruits, grains, vegetables and
nuts is the secret to living a long, healthy and productive lifestyle.

Avoiding exercise. Americans live a busy lifestyle, and students are no exception. When
time is short, busy people frequently drop exercise from their daily routine. This is
unfortunate, because those that actively exercise have healthier brains. In addition,
exercise reduces stress, (stress is abundant on college campuses), and less stress leads to
better thinking. Research studies report that a balanced program of aerobic exercise
(jogging/walking) and strength training is more efficient and effective in maintaining
physical and mental health. On average, walking briskly three to five miles for six
days per week along with 30 minutes of upper and lower body strength training
(three times per week) will keep your brain in thinking trim and contribute to
better grades.

Avoiding sunlight. Those who spend most of every day inside tend to have a higher rate of
depression, more difficulty in getting to sleep and poorer health. Sunlight is the principle
source of vitamin D. A complete absence of vitamin D is fatal. A majority of adult Americans
are so deficient in vitamin D that they experience significant health problems as a result.
Vitamin D dietary supplements do not adequately replace natural sunlight, although many
benefit from short doses of ultra high intensity natural sunlight lamps. Never-the-less, 20
minutes per day should be spent outside during daylight hours.

CONCLUSION
Here you have them, the twelve hints that will help you ace your accounting course or courses. I wish
you well as you make the journey to better grades.

How I stopped failing my Accounting Exams

Published on July 16, 2015 in Guest Post and Studying. ClosedTags: accounting, cpa.

How I stopped failing my accounting exams and went

from having a failing grade in my Intermediate
Accounting class to scoring an A on the final
By Steven Zawila
I was dejected when I received my first Intermediate
Accounting exam back and saw my failing score. Several
thoughts found their way into my head.

Am I going to be a bad accountant?

Will I still be able to find a job?

Am I wasting my time studying accounting?

How can I pass the CPA exam?

To say that I felt discouraged was an understatement. I studied

like crazy for this exam. I spent many long nights in the library
and drank multiple cups of coffee in the span of a single night.
Maybe I didnt study hard enough? Maybe I just needed to
study harder?
Thats what I tried to do. When my second Intermediate
Accounting exam rolled around, I tried to study harder. I spent
even more hours and longer nights in the library, often staying
long enough to watch the sun come up. I stressed myself out
even more over my notes. I substituted my coffee with Red Bull
and drank even more caffeine. After studying this hard, there
was no way I would fail, right?
I took my second exam. I failed. I got an even worse grade than
my first exam.
What was I doing wrong?
At this point, I started to resign myself to the fact that I just
wasnt as intelligent as my classmates. It wasnt fair that I could
spend all night studying and still fail while my friends get high
marks and never stay late in the library! But hey, lifes not fair,
right?
Maybe I just wasnt capable of acing my exams like they were.
Maybe I was just destined never to reach the same heights that
they could. Maybe I should learn to be happy with where I was
and just accept that.
One night a classmateone of the top students in the class
and I were hanging out and we casually discussed the exams.

Theyre tough, arent they? I asked. Yeah, I really had to

study hard for this one she replied.
Wait, what? She was never in the library as late as I was!
And here she was, telling me that she really studied hard? What
did she mean?
It turns out that she knew something I didnt. What she knew
going into the exam was that I could study as hard as I could
until hell froze over, but if I was not studying in a way that let
my brain absorb the information effectively, then I might as
well have not studied at all.
I had no clearly defined study plan and, as the saying goes, my
failing to plan was planning to fail. Instead, I simply studied
haphazardly until right before the exam, at which point I
realized that I was in trouble and tried to cram several chapters
into my head in the span of a single night. Unfortunately, our
brains dont work that way. By staying up all night, I was just
spinning my wheels rather than actually absorbing the material.
What got me here wasnt going to get me there. My study
routine needed an overhaul.
Ultimately, I turned my class performance around by learning
how to study smarter, not harder. I created a study plan that
allowed me to gain more out of the class lectures and helped
me focus on my weak areas before I walked into the exam.
The next exam rolled around. When I started taking it, I
immediately felt the difference. No longer was I desperately

looking for questions that I knew the answers to. Instead, I was
able to answer most questions confidently and make an
educated guess on everything that I did not know.
Later, I got my exam back: A. I had nailed it.
The best students are not necessarily gifted or luckier than the
rest of us. They simply know how to study smarter rather than
harder. Even though I had studied harder and routinely stayed
up much later than my friend going over the material, her study
habits allowed her to both master the course material more
effectively and in less time than mine did.
Success in your toughest accounting courses does not have to
be reserved for the naturally gifted students. Ill show you how
to use a study strategy that will prepare you for your exam
efficiently and give you enough time to have a good nights rest
before exam day.
1) Preview the class material before each lecture:
Before each class, go through the assigned reading and focus
on understanding the material conceptually. Then, make an
honest but modest attempt at doing the homework problems.
When working on homework problems, you should be able to
honestly say to yourself that, yes, you attempted to solve it. If
you can completely solve all of the assigned homework
problems based on the reading, great!

However, dont sweat it if youre not getting it 100% correct at

this point. Also, dont spend an overly excessive amount of time
on the homework for one class.
At this point, the goal is to acquaint yourself with the class
material well enough so that you will be able to follow along
with your professors upcoming class lecture. If theres any
course material that you didnt fully grasp yet or any homework
problems that you may have missed, then you can gain a better
understanding when the professor goes over the problem in
class.
In my experience, many accounting professors dont grade your
homework on correctness. Even if they do, you made an honest
attempt and your homework grade will not make-or-break your
class grade. Your exam grades will.
Back when I was a little less wise, I never read anything before
class. In my freshman year of college, I never looked at any of
the assigned readings. I mean, the professor would just tell you
everything that you were supposed to have understood
anyway, right?
That didnt work so well in accounting. If I skipped doing the
readings, I would come to class and have no idea what the
professor what talking about. Then I would have to spend even
more time going back doing the reading I was supposed to have
already done just to catch up with the rest of the class.
Not an enviable position to be in.

This is a fairly straightforward concept, but it can be a game

changer. When I started doing this, no longer did I sit in lecture
wondering what the professor was talking about. Instead, I was
able to follow along with the class discussion and actually
benefit from coming to class.
2) Focus on what you dont understand during and after
class:
During class, pay attention to the professors explanation of the
homework problems. If your answers didnt match the
homework solutions, make note of why that was the case. For
example, I always scribbled notes such as Needed to dr.
instead of cr. the Inventory account on the homework
problems that I got wrong.
In addition, pay attention to any concepts that you did not fully
understand from your reading or anything the professor
discussed that was not included in the notes. Dont be shy to
ask questions on areas that you dont understand! It sounds
clich but its true that if you did not understand something,
there is probably at least one other person who had trouble
with it as well.
Many professors will either explicitly tell you or at least allude
to what types of questions you can expect on your exam. For
example, my Corporate Tax professor would drop hints such as
You know, this would make a good exam problem or I would
know how to do this for the exam.

Translation: This type of problem will definitely be tested so

you need to know how to do this.
Make sure you ask questions in class or during office hours on
areas that you still feel confused. By definition, you can only
review what you already know how to do. When you can look at
the homework solutions and follow them from beginning to end,
you are on the right track.
3) Review before the exam
Periodically review your class notes and revisit the homework
problems that you did not answer correctly. Look over the notes
on why your first answer was not correct, and then try to
answer the problems that you got wrong again. If your answer
still is not matching up to the solution, make note of why your
answer is different.
Again, you do not need to be a perfectionist here. I got the
same homework problems for leases and bond amortization
wrong several times while studying for the exam! Sometimes I
even made the same mistakes multiple times in a row!
Yes, it sucked. And yes, it was discouraging. But its better to
make mistakes at this point than it is to make them on the
exam. Every mistake I made during my review was a mistake
that I was less likely to make on the exam.
I have found the adage treat your brain like a muscle to be
truthful. If you are trying to work out, you would not go to the
gym and lift weights for 10 hours straight, right? In the same
way, going to the library the night before the exam and

studying until the sun comes up does not allow your brain to
effectively absorb the information (when I tried this, I felt like
crap the next day and still bombed the exam). I have found
more success with shorter, spaced out review sessions then I
have with a lengthy cram right before exam day.
Finally, make sure that youre not just memorizing the answers
to the problems that you review. This is a tough pitfall to avoid,
since memorization often happens unconsciouslyI often never
realized that I was doing it!
When you are able to work through all of the homework
problems with little to no errors, you are in good shape for the
exam!
Becoming a successful accounting student!
I wanted to share my experiences with you to help you realize
that if your grades are not where you would like them to be,
there is something you can do about it. The solution is not
necessarily to study harder either.
Accounting is a tough major, no doubt about it! Theres no
reason to make it more difficult than it already is by trying to
study in a way thats not effective. In fact, the right study
habits can make all the difference.
About the Author:
Steven Zawila is an accountant who aims to make studying
accounting more accessible to students. If you liked this
approach,
Ill
be
sharing
even
more
at
my

website acingaccounting.com. Sign up for more study hacks as

well as intuitive explanations of the toughest accounting
concepts such as pensions, bond amortizations, and dollarvalue LIFO (yes, all of those can be explained intuitively) that
will help you ace your accounting classes.

HOW TO STUDY FOR SUCCESS IN SCHOOL AND

PREPARE FOR CERTIFICATION EXAMS
1.1

How to Study for Success in School and Prepare for Certification Exams

1.1 HOW TO STUDY FOR SUCCESS IN SCHOOL AND

PREPARE FOR CERTIFICATION EXAMS
The central theme of How to Succeed in Accounting is control: Establish plans, perform effectively,
evaluate your performance, understand shortcomings, and follow through with an improved strategy.
This is an executive approach that will work for you, especially if you aspire to be an executiveand
you should, because you will have the opportunity.

1.
What is your objective? Presumably, it is to earn a degree
in accounting and subsequently sit for the CPA, CIA, CMA, and/or EA
exams.
2.
Why? The prospects of employment are good, and starting
salaries are high and stable. For example, an accountant with a CPA
in a large public firm could earn almost $75,000 in his or her first
year. That number could be as high as $85,000 by his or her third
year!*
3.
What then? What will you be doing in 5 years? 10 years?
15 years? No one knows for sure, but to the extent that you improve
your study program and become a more qualified candidate, you will
brighten your career prospects. You want to train not only to be a
professional accountant but also to be ready for the opportunity for a
successful career.
* Robert Half 2014 Salary Guide

Planning Your Curriculum

1.
Chronologically list all of your courses to date by semester (or quarter). Put credits and
grades to the right.
2.
Underneath this listing, organize a desirable schedule of
remaining courses and credits.

d.

3.
Consult your university website, college and departmental
requirements, and any other relevant materials.
a.

Make sure you will meet all the requirements to graduate.

b.
Have you planned your courses in the proper sequence
in terms of prerequisites?
c.
Make sure you are completing the requirements to be
eligible to take the certification exam.
4.
Review your schedule with an appropriate school advisor and confirm that it satisfies the
requirements for your graduation. Dont guess. Use the university resources available to properly
prepare your college curriculum.

Grades Are Important

Usually, a B average or higher is necessary to enter graduate programs and/or law school. Some
CPA firms and other employers restrict their hiring to individuals with a B average or better.*
If your GPA is currently below
an A average or if your
previous academic successes
involved more memorizing and
less learning and application,
then How to Succeed in
Accounting is particularly
relevant to you. You must do
your best in each course,
especially those pertaining to
your career. Other courses are
also important because they
affect your overall GPA and help
make you a more well-rounded
person. Your employer will be
interested in you as a person,
not just as an accounting
technician.

*If you currently are struggling with a C average, dont give up. These techniques should help you
improve. While higher grades are preferred, many C or C+ students are extremely successful
once out of school.

...And So Are Student Activities

To their detriment, some students overemphasize grades. You also need to develop your people
skills, which is harder to do now that many courses are taught online.
Join your accounting club or the honorary accounting fraternity, Beta Alpha Psi, if your school is a
member of the American Association of Collegiate Schools of Business. To develop leadership skills,
plan to serve as an officer. Create your own club. Volunteer to help low-income families with tax
returns. Balance your academic efforts with other activities, such as community service, intramural
sports, student government, or the pursuit of personal interests.
Almost all prospective employers are interested in your leadership, communication, and social skills.
You will also need to be proficient in computer applications, so make sure to master those programs
as well.

Should You Go for a Masters Degree?

Just as your bachelors degree is an investment in your future, so is a masters degree (MA, MS, or
MBA).

Reasons to Pursue a Masters Degree

1 A masters in accounting provides you with even greater opportunities

. for employment and career advancement and translates to a premium
salary. One study indicates as much as a $23,000 difference in yearly
salary!
2 Your employer will have higher expectations as a result of your
. additional training. Usually this translates into better assignments,
more responsibility, faster promotion, and higher compensation.

3 Positions for advanced employment frequently require (a) a masters;

. (b) the CPA, CMA, and/or CIA designation; and (c) several years of
experience for accounting executive positions or managerial positions,
such as controller or treasurer. Adding the EA designation will show
your proficiency in tax matters.
4 Once you begin working long hours in a specialized field, resuming the
. role of a student is not easy. Its best to stay in school until your
educational goals have been met, if possible.

Considering the Cost

Education is the best investment you will make! The amount and availability of financial support can
be an impediment to continued education, but borrowing funds to pursue a higher level of education
is generally a prudent financial decision, especially if you graduate with an accounting degree. A
part-time job will also help defray some of your costs.
Delaying the Attainment of a Masters Degree
Many professionals attend graduate school on a part-time basis (evenings, weekends) if
circumstances did not allow them to do so before entering the work force. These programs provide a
chance to interact with peers who have similar interests and aspirations. An added benefit of
attending graduate school part-time is learning from the work experience of classmates with various
backgrounds, which significantly enriches class discussion. Your employer may also offer tuition
assistance if the education furthers your employment with the company.

The Basics of Learning and Understanding

Your Cognitive Processes

Which mental processes do you use for learning?

How do you internalize assignments?

How do you process facts and concepts to complete assignments and take tests?
By better understanding how you study, you can learn to be more efficient and effective. If you
improve your study processes by 20%, you can change 80% scores to 96% scores and reduce
studying 30 hours per week to 24 hours. Lets learn how.

To Learn (According to Merriam-Webster

Dictionary)

Main Entry: learn

Function: verb
Inflected Form(s): learned; learning
transitive verb
1 a (1) : to gain knowledge or understanding of or skill in by study,
instruction, or experience <learn a trade> (2) : memorize <learn the lines of
a play>

b : to come to be able <learn to dance>

c : to come to realize <learned that honesty paid>
Psychologists have defined many categories of learning, such as classical conditioning, trial-anderror learning, sensorimotor learning, verbal learning, concept learning, and rule learning.
Accountants mainly focus on concept learning and rule learning. Most accounting and
business concepts are multidimensional (i.e., relate to many concepts, rules, and relationships);
therefore, they can be better understood by examining their multiple aspects. For example, you
might view a financial accounting transaction in light of
1.

Required journal entries

2.

Impact on the financial statements

3.

Consequences of the transaction for the business

4.

Motivation of all parties to enter into the transaction

5.
Behavioral implications to employees, customers, competitors, etc.
Train yourself to consider the contextual implications of the underlying business transactions for all
accounting procedures you study. For example, what effect a given procedure or transaction will
have on

Purchasing power

Financial ratios

Cash flows

Cost of capital

Earnings per share

Dividend growth

Levels of Cognitive Activity

One categorization of the levels of knowledge1 can be illustrated by the following image:

These levels are a revised version of Blooms taxonomy2, which has been used in curriculum
planning, research, and other areas of education and psychology since 1956. The levels are
cumulativethey constitute building blocks of cognitive processes. To understand something, you
need to remember what you have already learned; to analyze problems, you must understand the
concepts.
1.
Remembering. Recalling knowledge, e.g., definitions of technical terms and sources of
information. Objective questions often test this kind of knowledge, which is the most fundamental
since it entails basic memorization. This requires little mental processing beyond simple recall.
ACCOUNTING EXAMPLE: According to Statement on Financial Accounting Concepts
(SFAC) No. 8, the two fundamental qualitative characteristics of accounting information are
relevance and faithful representation.
2.
Understanding. Understanding and interpreting written and quantitative data. Questions at
this level test understanding of concepts, including interrelationships within data. This level of
knowledge is also called comprehension.
ACCOUNTING EXAMPLE: According to SFAC No. 8, Relevant financial information is
capable of making a difference in the decisions made by users. Financial information is
capable of making a difference in decisions if it has predictive value, confirmatory value, or
both. What does this mean? Do you understand? Can you explain it to someone else? The
ability to explain a concept to someone else is an indicator of your comprehension.
3.
Applying. Applying knowledge for problem solving. Questions at this level examine practical
applications of concepts to solve a problem. Thus, applying combines both remembering and
understanding in order to solve problems.
ACCOUNTING EXAMPLE: Memorizing the cost of goods sold (COGS) formula is mere
recall [COGS = BI (beginning inventory) + Pur (purchases) EI (ending inventory)]. In order
to solve more complex problems, such as the effect of inventory errors, you should also
understand the relationship of the change in inventory level to COGS. For example, when EI
is greater than BI, it means not all purchases were sold. Given BI, Pur, and EI, most students
can solve for COGS simply by plugging numbers into the formula. But an interpretation of the
relationship of the data is required for more complex problems.

4.
Analyzing. Analytical ability, including identification of cause-and-effect relationships,
internal consistencies or inconsistencies, relevant and irrelevant items, and underlying assumptions.
The following question requires analysis and interrelation of a number of variables to reach a
conclusion.
ACCOUNTING EXAMPLE: Would you accept a customers order at a lower-than-usual
price? Variables to consider include contribution margin generated, available production
capacity, and psychological and economic effects on other customers.
5.
Evaluating. What is the best (most effective) method (alternative)? Evaluation, like analysis,
takes into consideration qualitative as well as quantitative variables. Evaluation takes the process
one step further, though; it involves making a judgment based on the results of the analysis.
ACCOUNTING EXAMPLE: The company received a special order to produce an additional
1,000 units. The decision to accept the special order requires evaluation of production
capabilities and personnel availability.
6.
Creating. Designing, constructing, planning. In todays learning and business environments,
students and professionals often create their own programs to suit their needs and goals. This type
of activity involves the synthesis of multiple elements to either reform an existing structure or create
an entirely new one.
ACCOUNTING EXAMPLE: A new company hires a consultant to analyze and evaluate its
operations. The company wishes to have the consultant develop and design (create) a new
system of internal controls that are better-suited to the company than those currently in
place, which it has found to be inadequate.
Undergraduate accounting courses generally emphasize the first three levels of knowledge, while
your career in professional accounting will require and emphasize the last three levels. Gleim
products will help you reach these higher levels of thinking while preparing you for your exams.
Put another way, the first three levels of knowledge are required to prepare financial data. The
second three levels are necessary to use financial data and exercise professional judgment. How
does accounting differ from bookkeeping? Professional judgment.
In your study of accounting, you must go well beyond recall and memorization. Many accountants
move on to executive positions after beginning their professional career as an accountant. Even
those who remain in accounting exercise more and more judgment and rely less and less on rote
memory as they take on and exercise more responsibility.
1

Anderson, L.W. and David R. Krathwohl, D.R., et al (Eds.,) (2001) A Taxonomy for Learning, Teaching, and Assessing:
A Revision of Blooms Taxonomy of Educational Objectives. Allyn & Bacon. Boston, MA (Pearson Education Group).

Bloom, B.S. and Krathwohl, D.R. (1956) Taxonomy of Educational Objectives: The Classification of Educational
Goals, by a committee of college and university examiners. Handbook I: Cognitive Domain. NY, NY: Longmans,
Green.

The Basics of Studying

Course Overview
At the very beginning of the term, as soon as you have your text and syllabus, create an executive
overview of each course.
1.
Write down the chapter titles. Using this information, ask yourself: What is the course
about? How does its content relate to courses I have already taken and to courses I plan to take in
the future?
2.
Skim each chapter. Read the introduction and summary/conclusion. Your objective is to
gain more insight into each chapters content and approach than you gained from the chapter title
analysis in 1. above.
3.

Document your effort. Write a short paragraph and/or summary outline of each chapter.

4.
Examine the entire course overview. Has your executive overview of the course changed
and become more focused as a result of your analysis?
The entire process will probably take 2 to 4 hours. Spend half a day at the library and do a thorough
job for each course. This initial investment of time will pay dividends because you have a basis for
understanding how the chapters and their parts fit into the overall course at this point.
Now you will be able to put individual definitions and concepts into the context of the entire course.
Through the exercise of control, you will be more efficient and effective and therefore better prepared
to attain higher levels of knowledge.

Study Suggestions
Where to Study

Study where you study best. Some study best at home. Others study best at the library. Some prefer
to study at different locations at various times in the day and/or on different days. Still others study at
only one location.
The issue is effective study. You must seek out the study locations that provide you with the most
effective environment for concentration, which means avoiding or blocking out distractions most
often produced by people you know. Try out-of-the-way places where other accounting majors and
friends do not study, e.g., the law library. Consider turning off your cell phone.

When to Study
Study on a regular basis, 7 days a week to the extent possible. Stay ahead of all assigned material.
Do not wait to study before exams and assignment due dates. Such a habit emphasizes rote
memorization, which does not result in learning and understanding. You will improve your grade
point average and increase the amount learned by investing several hours in each class at the very
beginning of each term (as advised inCourse Overview above).
Are you a morning person? Do you study more effectively in the morning or in the evening?
Experiment with different study times to determine when you are most effective and schedule your
time accordingly.
Remember, the important point is that you must study regularly to stay ahead. Class
lectures and discussion are so much more meaningful and beneficial when you have studied
the assignment prior to attending class. A good rule to follow is, You are behind if you are
not ahead. Stay ahead of all of your classes by following a regular study schedule.

How to Study a Chapter in a Textbook

Before reading a chapter, gain a general understanding of the chapter contents. The following seven
steps should precede actual study:
1.

Read the chapter summary. What is it about?

2.

Skim through the chapter.

3.

Look at the requirements of the exercises and problems to see what is expected.

4.
Try to answer the discussion questions at the back of the chapter to see if you can
provide answers based upon your present knowledge and common sense. If possible, relate real-life
(business-world) examples to the discussion questions or requirements to help your understanding.
5.
Obtain and use the appropriate Gleim Exam Questions and Explanations book
and EQE Test Prep . See How to Supplement Your Studies with Gleim Exam Questions and
Explanations below.

Each Gleim product contains an extensive

test bank of former exam questions and is
thoroughly cross-referenced to textbooks
used at universities throughout the U.S.
Accordingly, you can identify specific areas
in the Gleim book for each chapter in your
textbook. Answer 5 to 10 questions to
determine the standards to which you will
be held. Gleim EQE Test Prep allows you
to study, self-test, and measure your
progress. Please
see www.gleim.com/accounting/eqe/.

6.
Outline the chapter based on the headings. Rewrite them in your own words. Do
not recopy phrases from the textbook. Put concepts into your own words so you understand rather
than memorize.
7.
Begin studying, rather than simply reading, since you now have an overview of the
chapter and have thought about what is in it. Studying means understanding. What is the author
saying? Do you agree? How does each concept fit into the chapter?
Remember, the objective is not to read the chapter and complete an assignment. The
objective is to understand the material well enough to be able to explain it to someone else.
To this end, you need to be sufficiently conversant with the material in each chapter so that
you can confidently discuss it, question it, and/or critique it with your professor, as well as
assimilate it with class lectures and notes.

During Class Time

1.
Ask at least one question during each class session. Engage your professor in discussion
about a topic, procedure, or principle that you do not understand. Many beginning accounting

students are introverts, sit passively in class, and only receive information. This approach is
inefficient because these students simply write down formulas, definitions, etc., for later regurgitation
without understanding the concepts.
2.
Stay ahead of your professor, answer all questions asked (usually to yourself), and look
ahead during lectures. Anticipate what will be next. Pre-class preparation permits you to learn in
class. The poor alternative (both inefficient and ineffective) is to play catch-up, i.e., attempt to
memorize lists, definitions, etc., out of context after class is over. Remember, you have Gleim Exam
Questions and Explanations products to supplement your study and significantly improve your
preparation.
3.
Attempt to relate your current course material to that covered in previous
courses. A thorough understanding of the material in previous courses makes it feasible to tie the
contents of all your courses together.
4.
Make notes in the margins of your books; they are your study vehicle. Just as you should
ask questions and discuss topics with your professor, you need to understand your text. Critique
your text as you study! How could it be improved? How would you organize and present the
material?
NOTE: Do not become completely dependent on highlighters and underlining! Yes, many students
highlight and underline, but using short-term memory to become familiar with the concepts, facts,
and definitions is only sufficient to complete courses. Remember that you are in school to learn and
understand with the objective of a successful career, not just to get a diploma.

How to Complete Homework Assignments

Many accounting course assignments consist of computational problems that are largely similar to
the examples and illustrations in your chapters. Thus, most of your homework problems are
susceptible to cookbooking, or copying from the chapter illustration, step-by-step. Barely more than
rote memorization is required to achieve false success.

However, you will be adequately prepared to complete your homework assignments under exam
conditions (time pressure and no reference back to the chapter) because you have previously
accomplished the necessary building blocks in your individualized control process: establishing
where and when to study, surveying the course, studying your textbook, answering multiple-choice
questions in the Gleim Exam Questions and Explanations book and EQE Test Prep, and
participating in class.
First, scan the exercise or problem and set a 5-, 10-, or 15-minute time limit. With a watch or
clock handy, see how much you can accomplish within the time limit.
Next, as you get each problem under control, note the issues you need to research after you have
substantially completed the problem.
Put yourself in a frame of mind to be highly productive during homework preparation. Effective time
management is very important for successful exam performance. Do your best! No one can ask for
more.

Develop and use your question-answering techniques on each homework assignment. These
systematic methods of problem solving should be executive in nature. Before you start, determine
what has to be done, how it has to be done, the sequence of procedures, etc. It is the same
general approach recommended for course overviews, studying a chapter, taking an exam,
etc.

How to Succeed on Exams Preparation and Control

Preparation In order to be successful on academic and certification examinations, you
must
1.
Understand the exam, including coverage, content, format, administration, and
grading.
For college courses: Ask your professor for clarification of the exam process publicly in class
and privately in his or her office, talk to former students, and attempt to review exams from
prior terms.
For certifications: Virtually all certification programs (CPA, CIA, CMA, EA, etc.), admission
tests, and other established exams have informational books developed by those
responsible for the examination. For example, Gleim prepares and provides free to all
customers and students comprehensive System for Success (www.gleim.com/sfs) booklets
that contain all of the information you need for complete understanding of the CPA, CIA,
CMA, and EA exams. The better you understand the process, the better you will perform.
2.

Learn and understand the subject matter tested.

For college courses: Confirm text and chapter coverage with your professor. Also, to what
extent are class lectures, examples, handouts, etc., tested?
For certifications: Obtain content specification outlines for established exams. Confirm
coverage by looking at past examinations (if available) and/or review manuals. For example,
Gleim includes the content syllabus for each exam in the relevant Review book. That way,
your assurance of coverage is right there!

3.
Practice answering recent exam questions to perfect your exam question-answering
and time-management techniques.Answering recent exam questions helps you understand the
standards to which you will be held. It also helps you understand the material tested and gauge how
you will need to manage your time to complete all questions.
For college courses: See How to Supplement Your Studies with Gleim Exam Questions and
Explanations below.
For certifications: Purchase the Gleim CPA, CIA, CMA, and/or EA Review
System. Systems may include books, online Test Prep, Audio Reviews, Gleim Online
courses, Gleim Instruct video series, Study Planner, Essay or Simulation Wizard, and access
to a Personal Counselor. Go to www.gleim.com/accounting for more information.
4. Plan and practice exam execution. Anticipate the exam environment and prepare a plan,
including your arrival time, your manner of dress, the appropriate exam supplies, the
expected number of questions and the format, the order in which you will answer questions,
and the time you will spend on each question. Expect the unexpected and adjust!

For college courses and certifications: Remember that your sole objective when taking an
examination is to maximize your score. Most examinations are curved, and you must
outperform your peers.
5.
Most importantly, develop confidence and ensure success with a controlled preparation
program followed by confident execution during the examination.

Control You must be in control to be successful during exam preparation and execution.
Control can also contribute greatly to your personal and other professional goals. Control is a
process whereby you
1.

Develop expectations, standards, budgets, and plans

2.

Undertake activity, production, study, and learning

3.

Measure the activity, production, output, and knowledge

4.

Compare actual activity with expected or budgeted activity

5.

Modify the activity, behavior, or production to better achieve the desired outcome

6.

Revise expectations and standards in light of actual experience

7.
Continue the process
The objective is to be confident that the best possible performance is being generated. Most
accountants study and understand this process in relation to standard costs, i.e., establish cost
standards and compute cost variances.

Every day you rely on control systems implicitly.

Consider this simple example: When you get
dressed, you have expectations about the
desired appearance of your outfit and the time
required to attain that appearance. You monitor
your progress and make adjustments as
appropriate, e.g., straighten your tie or iron your
skirt.

Develop and enforce standards in all of your endeavors. Exercise control, implicitly or explicitly. Most
endeavors will improve with explicit control. This is particularly true with certification examinations
and other academic tests.

1.
Practice your question-answering and time-management techniques (and develop
control) as you prepare answers/solutions to practice questions/problems during your study
program.
2.
Develop explicit control over your study programs based on the control process
discussed above.
3.

Think about using more explicit control systems over any and all of your endeavors.

4.
Seek continuous improvement to meet your needs given a particular situation or
constraint. Additional practice will result in further efficiencies.

SUCCESSFUL
ACCOUNTING
STUDENTS STUDY WITH

THE GLEIM
SERIES
Accounting is competitive (academically and professionally). The Gleim Series provides a
competitive advantage by improving the effectiveness of your study time through learning and
understanding.
The Gleim Series works! Gleim will help you to

Learn and understand more in less time

Improve your test scores and earn higher grades

Practice answering certification (CPA, CMA, etc.) exam questions

Propel yourself into a career in accounting

After graduation, you will compete with graduates from schools across the country in the accounting
job market. Make sure you measure up to standards that are as demanding as the standards of your
counterparts at other schools. These standards will be tested on professional certification exams.
Practice Multiple-Choice Questions; Learn from Answer Explanations

Each book in the Gleim Series is a comprehensive source of multiple-choice questions with thorough
explanations of each correct and incorrect answer. You learn from our explanations regardless of
your answers to the questions.
Monitor Your Progress
Pretest before class to see if you are strong or weak in the assigned area. Retest after class and
before each exam or quiz to be certain you really understand the material.
Rely on our Coverage as Detailed in the Cross-References
The questions in these books cover virtually all topics in your courses. You will rarely encounter
questions for which you are not well prepared. Each Gleim book is cross-referenced to the primary
textbook used in your class.
Use Gleim EQE Test Prep
The student next to you has the exam questions do you? See what might be on the exam before
you take it! Use the Gleim Exam Questions and Explanations books and EQE Test Prep to
master the material in your courses and learn how to succeed on exams almost 9,000
questions with detailed discussions covering every accounting, tax, business law, and auditing topic!

How to Supplement Your Studies with Gleim Exam Questions and

Explanations
Experts on testing continue to view multiple-choice questions as a valid means of examining various
levels of knowledge. Many of the questions on the GMAT, GRE, LSAT, and other entrance
examinations are multiple-choice questions. Two major certification exams, the EA and CIA, remain
100% multiple-choice, and the percentage of multiple-choice and other forms of objective questions
on the CMA and CPA exams remains very high.
Using objective questions to study for undergraduate examinations is an important tool not only for
obtaining good grades but also for long-range preparation for certification and other examinations.
The following suggestions will help you study in conjunction with each Gleim Exam Questions and
Explanations product:
1.
Locate the study unit that contains questions on the topic you are currently studying.
Each Exam Questions and Explanations book contains cross-references to the tables of contents
of most textbooks.
2.

Work through a series of questions, selecting the answers you think are correct.

3.
If you are using the Gleim book, do not consult the answer or answer explanations on
the right side of each page until after you have chosen and written down an answer.

It is crucial that you cover the answer explanations and intellectually commit yourself
to an answer. This method will help you understand the concept much better, even if you answered
the question incorrectly. EQE Test Prep automates this process for you.

4.
Study the explanations to each question you answered incorrectly. In addition to learning and
understanding the concept tested, analyzewhy you missed the question.

Did you misread the question or misunderstand the requirement?

Did you make a math error?

Did you not know the concept tested?

Studying the important concepts that we provide in our answer explanations will help you
understand the principles to the point that you can answer that question (and any others like
it) successfully.
2.
Identify your weaknesses and take corrective action before you take a test. Prepare a
summary analysis of your work on each subunit (topic). With EQE Test Prep, simply view your
performance analysis information. The following are some sample column headings that could be
used:
Dat Subuni
e
t

Time to
Complete

Questions
Answered

Avg. Time per

Question

Questions
Correct

Percent
Correct

3.
The analysis will show your weaknesses (areas needing more study) and also your strengths
(areas of improvement). You can improve your performance on objective questions both by
increasing your percentage of correct answers and by decreasing the time spent per question.

Improve Your Grades!

Use these objective question and explanation products to ensure your understanding of each topic
you study in your accounting and business law courses. Access the largest bank of exam questions
(including thousands from past certification exams) that is widely used by professors. Get immediate
feedback on your study effort while you take your practice tests.