cost accounting

The information in our study materials is presented very systematically. IT WILL NOT OVERWHELM YOU!

Each subject is divided into the following sections:  

Key Things to Know

  • States the key terms, definitions, formulas and formats that you need to know for this subject. This section is brief and straight to the point.
  • Eliminates the need to read and outline the chapter.
  • Take this section with you to class and just add notes rather than trying to write everything the teacher says.

Learn as You Practice

  • Provides steps to follow and key topics to think about when working through a problem.
  • Example problems and a detailed, clear, explanation of how to work the problem following the steps given.
  • These steps teach you how to work any problem presented to you.
Print the above 2 sections and study them for about 15 minutes before you go to class. You will understand and learn much more while you are in class.

Self Test
  • Multiple choice test that focuses on terms, definitions, formulas and formats. Questions are specifically written to make sure you know what you need to know.
  • Each correct and incorrect answer is fully explained. Knowing why an answer is incorrect is extremely valuable information.

Practice Tests
  • Two or three tests for each section at various levels of difficulty.You should start with the easy test and work your way up.
  • Each test has 10 multiple choice and problems. Problems are in different formats so you will not be lost when the test does not look like your homework.
  • Questions are specifically written to see if you understand what is asked 95+% of the time on tests.
  • All answers are fully explained. Problems are worked out step by step and include things commonly missed on a test.
  • Work the tests on paper, just like you will do in class.

To get the most out of each test, you must work through an entire test completely before looking at the answers. If you are running out of time, studying the answers to the test problems is also very effective.

You need a fresh set of problems to see if you know how to do it. Working homework problems over and over that you already know the answers to is NOT an effective way to study. It makes you think you know what you are doing when you don’t; you just memorized the answer.

Quick Study Sheet
  • Key things that you must commit to memory before the test.
  • These key things will get your through 95+% of all test questions that your teacher could possibly ask you.
On Your Test
  • List of what you must know and what to expect on the test.
  • Being prepared will significantly reduce the stress and panic associated with taking the test.

Final Test Review

  • 3 comprehensive final exam practice tests
    • 50 multiple choice questions with answers explained
    • 15 problems with fully explained answers
    • 25 multiple choice and several problems with fully explained answers
  • Review sheet that lists all formulas you must know
  • Review sheet that lists all terms and definitions you must know

This site is applicable to Managerial, Principles II, Cost Accounting and MBA Managerial Accounting. These classes are based around the same terms, formulas, formats, and internal business decisions. The same material is discussed in different ways.

Managerial accounting and Principles II emphasize understanding the terms, definitions, formats and formulas used to make management decisions.

Cost Accounting adds more journal entries and a few other topics. Cost accounting is about 85% repeat of managerial accounting. (This is a well kept secret!)

MBA Managerial Accounting emphasizes application using cases. You must understand the terms, formulas, and formats discussed on this site in order to efficiently work through the cases.




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