Principles of Accounting - I can't believe I passed!

[jwturner421]

As the guy who started an earlier thread on how the end is near, I just wanted to let everyone know that I was shocked and amazed when that sweet 61 appeared on the screen when I was done. I feel the earlier post by Snazzlefrag was crucial to my approach for time management of the test. I finished with 2:38 to spare. I spent most of yesterday evening reviewing all the basic concepts and felt somewhat confident when I was able to answer 90% of the IC flash cards. For those of you who might still be taking it tomorrow, here is how I approached it:

1. I allocated about one minute per question. This left me with a 10 minute buffer for review assuming I took the full time with each question.
2. The easy questions are the 1 -3 liners. These are the basics and can be answered very quickly. The answer is pretty obvious. There were about 10 questions in this category that I rattled off in under 15 seconds each.
3. Immediately mark and skip questions that require calculations that are not obvious. You'll know them when you see them as they tend to have many figures and/or are especially wordy. Taking previous advice, you can lose a tremendous amount of time trying to tackle these on the first go around. I had about 12 questions in this category. There were a few that appeared difficult off the bat but were basic calculations that applied basic principles. I answered those.
4. I answered to the best of my ability conceptual questions that were medium hard. Usually only two of the answers are possibly correct. I marked any that I was unsure of to return to if there was time, but made sure that I answered them. I used some of the time that I banked in step 2 in this step.
5. By my first run through of the test, I had 35 minutes left, 12 unanswered questions, and about 15 marked for potential review.
6. I allocated a minute for each of the 12. If I couldn't calculate quickly, I guessed. I felt that even if I only got 3 or 4 right I still would pass.
7. I spent the rest of the time reviewing the marked ones in step 4. I did change a couple of answers after re-reading them. By that time the nervous energy had dissipated and I felt more focused.

So thanks to all for their encouragement and feedback. Needless to say I am very relieved the test is over and looking forward to the Principles of Marketing which should be simple compared to this.

--Joel

[ridin8ude]

Congrats!

I wonder how many 100's of people took this exam in the last week. And wonder how many left with a smile on their face?!

[mapalo]

Wow congratulations that is so good news

[iwannapass]

Congratulations!!!!!! I am still in awe right now. Even after a couple drinks and a movie