- Stock losses/stock gains
- Prepaid expenses
- Depreciation of NCAs
- Accrued expenses
Finally, the last part of Unit 3 ... and very important. Examiners love to use this stuff to rank students so ... our job is to frustrate them. Aim to master this section of the course and you will reap rewards for the rest of the year. We start by using the 8 page booklet (with 8 exercises) that aim to give you the big picture. It can be intimidating ... but hang in there. We do a couple together, then drill down to the detail by working on booklets 12.1 (stock loss/gain), 12.2 (prepaid expenses), 12.3 (depreciation) and 12.4 (accrued expenses). We return now and again to that 8 page booklet to refresh the big picture. Can you do all 8 exercises by the end of May? When you have done exercise 8 ... email me ... and I will congratulate you. If you decide that 4 of those exercises is enough ... well ... well ... I don't believe that will happen with the Accounting Class of 2015! The signs are good that this group can have a very good year. The next 4 weeks are super important. Make a commitment to yourself to challenge yourself. Don't be afraid to make a few mistakes along the way. That is OK. That is a normal part of the learning process. Move from the comfort zone to the stretch zone. Are you up to it? Of course you are.
No comments:
Post a Comment