Best Exam Preparation Resources for Accounting Students
If you're an accounting student, you know how important it is to be prepared for exams. But with so much material to cover, it can be overwhelming to know where to start. Don't worry, we've got you covered! In this article, we've assembled a list of the best exam preparation resources for accounting students, including time management tips, textbooks, and online resources.
Understanding the Importance of Exam Preparation
Before we dive into the resources, it's crucial to understand why exam preparation is so important. Exams can make up a large percentage of your overall grade, so performing well is crucial to your success in the course. Proper exam preparation can help ensure that you're confident and ready to tackle any question that comes your way.
However, exam preparation is not just about getting good grades. It's also about developing skills that will be useful throughout your academic and professional career. Effective exam preparation requires discipline, time management, and critical thinking skills. These skills will serve you well in any field you choose to pursue.
Time management and study schedules
One of the keys to successful exam preparation is effective time management. Create a study schedule that works for you and stick to it. Block out time for each subject, and make sure to take breaks as needed. It's also helpful to study in short, focused sessions rather than marathon cramming sessions. This will help you retain information better and avoid burnout.
Another important aspect of time management is prioritization. Make sure to focus on the material that will be covered on the exam, rather than getting bogged down in details that are unlikely to be tested. Use your study schedule to prioritize the most important material and allocate your time accordingly.
Identifying your learning style
Everyone has a different learning style, and it's important to identify yours so that you can tailor your study approach accordingly. Do you learn best by reading? Listening? Doing? Once you figure out your learning style, you can take advantage of resources that cater to that style.
For example, visual learners may benefit from color-coded notes and diagrams, while auditory learners may prefer recorded lectures and study groups. Kinesthetic learners may benefit from hands-on activities and interactive study materials. By identifying your learning style, you can make the most of your study time and improve your retention of the material.
Setting realistic goals
To help keep yourself motivated and on track, it's important to set realistic goals for your exam preparation. Break down the material you need to cover into manageable chunks, and set a goal to complete each chunk by a certain date. Celebrate your progress along the way and adjust your goals if needed.
However, it's important to remember that setting realistic goals does not mean setting easy goals. Challenge yourself to push beyond your comfort zone and tackle difficult material. This will help you grow as a student and develop the skills you need for success.
Overall, effective exam preparation requires discipline, time management, and self-awareness. By developing these skills, you'll not only perform better on exams, but also set yourself up for success in all areas of your academic and professional life.
Top Textbooks for Accounting Students
As an accounting student, you know that textbooks are an essential resource for your studies. The following titles are widely considered to be among the best in the field:
Financial Accounting
Financial accounting is the process of recording, summarizing, and reporting financial transactions to external users of financial information, such as investors, creditors, and regulators. The following textbooks are highly recommended:
Financial Accounting, 11th Edition by Walter T. Harrison Jr. This textbook provides a clear and concise introduction to financial accounting concepts and principles. It covers topics such as the accounting cycle, financial statements, and accounting for assets, liabilities, and equity.
Financial Accounting: Tools for Business Decision Making, 8th Edition by Paul D. Kimmel and Jerry J. Weygandt This textbook is designed to help students understand the role of financial accounting in business decision making. It covers topics such as financial statements analysis, cash flows, and budgeting.
Managerial Accounting
Managerial accounting is the process of identifying, measuring, analyzing, interpreting, and communicating financial information to internal users of the information, such as managers, employees, and owners. The following textbooks are highly recommended:
Managerial Accounting, 5th Edition by Karen W. Braun and Wendy M. Tietz This textbook provides a comprehensive introduction to managerial accounting concepts and techniques. It covers topics such as cost behavior, cost-volume-profit analysis, and budgeting.
Advanced Management Accounting, 4th Edition by Robert S. Kaplan and Anthony A. Atkinson This textbook is designed for advanced students who want to deepen their understanding of managerial accounting. It covers topics such as activity-based costing, target costing, and performance measurement.
Auditing and Assurance Services
Auditing is the process of examining financial statements and other financial information to provide assurance that they are free from material misstatement. The following textbooks are highly recommended:
Auditing and Assurance Services: An Integrated Approach, 16th Edition by Alvin A. Arens and Randal J. Elder This textbook provides a comprehensive introduction to auditing and assurance services. It covers topics such as audit planning, internal control, and audit reporting.
Auditing: A Risk-Based Approach to Conducting a Quality Audit, 11th Edition by Karla M. Johnstone, Audrey A. Gramling, and Larry E. Rittenberg This textbook is designed to help students understand the principles of risk-based auditing. It covers topics such as audit evidence, fraud, and emerging issues in auditing.
Taxation
Taxation is the process of imposing a financial charge on individuals and businesses by a government organization. The following textbooks are highly recommended:
South-Western Federal Taxation 2019: Essentials of Taxation: Individuals and Business Entities, 22nd Edition by Annette Nellen, James C. Young, and William H. Hoffman Jr. This textbook provides a comprehensive introduction to federal taxation. It covers topics such as gross income, deductions, and tax credits.
Federal Tax Research, 11th Edition by Roby B. Sawyers, Steven Gill, and Diane M. Giampaoli This textbook is designed to help students understand the principles of tax research. It covers topics such as tax authorities, tax planning, and ethical issues in tax practice.
Overall, these textbooks are highly recommended for accounting students who want to deepen their understanding of accounting concepts and techniques. They provide a solid foundation for a successful career in accounting.
Online Resources and Study Platforms
As an accounting student, it can be challenging to keep up with all the coursework and exam preparation. Fortunately, there are many online resources and study platforms available to help you succeed. In this article, we'll explore some of the best resources for accounting students.
AccountingCoach
AccountingCoach is a free online resource that provides tutorials, quizzes, and other study materials for accounting students. The site covers topics ranging from basic accounting principles to advanced financial analysis, making it a great resource for students at all levels.
One of the best things about AccountingCoach is that it offers a vast library of articles and videos that cover a wide range of accounting topics. Whether you're struggling with a specific concept or just need a refresher on the basics, you'll find plenty of helpful resources on this site.
AICPA
The American Institute of Certified Public Accountants (AICPA) is the professional organization for accountants in the United States. Their website offers a range of resources for students, including study guides, exam tips, and networking opportunities.
One of the most valuable resources offered by the AICPA is their CPA Exam Blueprints. These blueprints provide a detailed outline of the content that will be covered on each section of the CPA exam, making it easier for students to prepare and study effectively.
Coursera
Coursera is an online learning platform that offers a wide variety of courses in accounting and related fields. Many courses are offered for free or at a low cost, and they're taught by top instructors from universities around the world. It's a great way to supplement your coursework and gain additional knowledge and skills.
One of the best things about Coursera is that it allows you to learn at your own pace. You can watch lectures and complete assignments on your own schedule, making it a great option for busy accounting students.
Khan Academy
Khan Academy is a non-profit organization that provides free educational resources in a variety of subjects, including accounting. Their accounting courses cover everything from basic concepts to advanced financial analysis and are presented in a clear, easy-to-understand format.
One of the best things about Khan Academy is that it offers interactive exercises and quizzes that allow you to test your knowledge and track your progress. This can be a great way to stay motivated and engaged as you work through your accounting coursework.
Quizlet
Quizlet is a popular study platform that allows you to create and share flashcards, quizzes, and other study materials. It's a great tool for memorizing key terms and concepts, and you can easily access study sets created by other students and educators.
One of the best things about Quizlet is that it allows you to study on the go. You can access your study materials from your phone or tablet, making it easy to study whenever you have a few spare minutes.
With so many resources available, there's no reason for accounting students to feel overwhelmed when it comes to exam preparation. By utilizing the tips and tools outlined in this article, you'll be well on your way to acing your exams and achieving success in your accounting studies.