Accounting Test (1 Viewer)

[bE_On_eDGe]

I've got an accounting test coming up soon...

Could anyone suggest what parts of accounting i need to study for and what specific formulas i need to remember???

Thanks

 

[hopeles5ly]

what do you need to know for the test?

 

[bE_On_eDGe]

Done the test today, thanks for the suggestions!

 

[Beege]

I have a test probably similar to this next term but it is called 'financial planning - accounting scenarios' in my assessment booklet, would this be the same as the accounting test?

 

[lilkiwicutie89]

The syllabus is always the best reference point for this:
http://www.boardofstudies.nsw.edu.au/syllabus_hsc/syllabus2000_listl.html#businessstudies

Eg:
using financial information
• the accounting framework
– financial statements — revenue statement, balance sheet
– the accounting equation and relationships
• types of financial ratios
– liquidity — current ratio
– solvency — gearing debt to equity
– profitability — gross profit ratio, net profit ratio, return on owners’ equity
– efficiency — expense ratio, accounts receivable turnover ratio
• comparative ratio analysis
– over time, with similar businesses, against common standards

agreed.. make up mnenoics if you cant remember them... remember to bring an extra calculator.. goodluck. but yeah... oh and you need to comment on the ratios... but its sorta generic i guess... =]

tC

 

[CoWb]

My suggestion, would be to memories them in to a table deviding them up into there appropriate categories. its an easy excercise to remember them but a little boring you just need to write them out a few times over till you can remember them, the most important thing to remember, is what each value you get for what ever formula you should back it up with a summons about what this figure represents in terms of the businesses situation weather it be saying the business is profitable and why and or its insolvent....

if you need help on constructing a table please post a message and ill give you a draft...