Life is going to suck....
yup, the next 2 1/2 weeks is going to suck big time. I have 2 presentations, 2 papers, and 2 cumulative finals to do. One of the finals I think I will be ok since the professor generally gives us a good study guide. My other cumulative final is going to freaking suck! The class is worth 1000 pts. The final alone is 400 pts. HOLY COW! We have only had chapter quizzes through out the semester. The professor finally posted our study guide. It is the most ridiculous study guide ever! This is what it is:
"ACCT 107 – Final Exam Study Guide
The final exam for ACCT 107 is a comprehensive exam and may cover any of the topics covered in class, on the course website, or in the text. The exam is worth 400 points. This study guide is intended to help you in your studies, but the final exam may differ from this study guide if there are any last-minute changes.
Essay questions
The exam includes five essay problems worth a total of 200 points. The essay problems will be graded for content and for writing skills. Please make sure your handwriting is legible, with correct spelling, grammar, and punctuation. Be careful with abbreviations, other than standard acronyms such as FASB, AICPA, SEC, GAAP, GAAS, PCAOB, etc.
The five written problems include
· Understanding the audit objectives (repeated in many chapters)
· List and describe the ten auditing standards, using our class acronym (chapter 2)
· Explain the content and required components of the auditors’ report (chapters 2 and 17)
· List and describe the six principles of the AICPA professional code of conduct (chapter 3)
· Analyze an accounting process and recommend appropriate internal controls (many chapters)
Multiple choice questions
There are 25 multiple choice questions, worth 8 points each for a total of 200 points. The questions cover a variety of topics in chapters 4 through 17. There are between 1 and 4 questions on each of these chapters. These questions are intended to cover many topics and concepts. Some questions have been drawn from chapter quizzes.
Study tips:
ü The five essay question topics listed above account for half of the exam (200 out of 400). Study these concepts thoroughly. Studying these five topics will be the most important and productive study time.
ü Review your quizzes.
ü Review the multiple-choice questions at the end of each chapter. Keep in mind that some questions are pretty difficult and not likely to be included on the exam.
ü Take the practice quizzes on the text website.
ü Try to recall the types of questions we had on quizzes – many exam questions will be similar.
ü Review the learning objectives at the beginning of each chapter. You can use these to plan further study. If you are comfortable with a learning objective, you can probably limit your study of that objective. You may feel less comfortable with other learning objectives. If so, focus your study on these topics.
ü Consider forming a study group to discuss and compare the results of your individual study. Be a good member of your group by already doing the above steps. Being well-prepared for your study group will impress your classmates and could payoff in your future career. Being unprepared and simply hoping to take advantage of the work done by other students will also be remembered and could hurt you in future classes and in your career."
So basically to study for this final he is telling us to review EVERYTHING we have learned. Oh and he was so kind to give us "study tips"! Really?!
"ACCT 107 – Final Exam Study Guide
The final exam for ACCT 107 is a comprehensive exam and may cover any of the topics covered in class, on the course website, or in the text. The exam is worth 400 points. This study guide is intended to help you in your studies, but the final exam may differ from this study guide if there are any last-minute changes.
Essay questions
The exam includes five essay problems worth a total of 200 points. The essay problems will be graded for content and for writing skills. Please make sure your handwriting is legible, with correct spelling, grammar, and punctuation. Be careful with abbreviations, other than standard acronyms such as FASB, AICPA, SEC, GAAP, GAAS, PCAOB, etc.
The five written problems include
· Understanding the audit objectives (repeated in many chapters)
· List and describe the ten auditing standards, using our class acronym (chapter 2)
· Explain the content and required components of the auditors’ report (chapters 2 and 17)
· List and describe the six principles of the AICPA professional code of conduct (chapter 3)
· Analyze an accounting process and recommend appropriate internal controls (many chapters)
Multiple choice questions
There are 25 multiple choice questions, worth 8 points each for a total of 200 points. The questions cover a variety of topics in chapters 4 through 17. There are between 1 and 4 questions on each of these chapters. These questions are intended to cover many topics and concepts. Some questions have been drawn from chapter quizzes.
Study tips:
ü The five essay question topics listed above account for half of the exam (200 out of 400). Study these concepts thoroughly. Studying these five topics will be the most important and productive study time.
ü Review your quizzes.
ü Review the multiple-choice questions at the end of each chapter. Keep in mind that some questions are pretty difficult and not likely to be included on the exam.
ü Take the practice quizzes on the text website.
ü Try to recall the types of questions we had on quizzes – many exam questions will be similar.
ü Review the learning objectives at the beginning of each chapter. You can use these to plan further study. If you are comfortable with a learning objective, you can probably limit your study of that objective. You may feel less comfortable with other learning objectives. If so, focus your study on these topics.
ü Consider forming a study group to discuss and compare the results of your individual study. Be a good member of your group by already doing the above steps. Being well-prepared for your study group will impress your classmates and could payoff in your future career. Being unprepared and simply hoping to take advantage of the work done by other students will also be remembered and could hurt you in future classes and in your career."
So basically to study for this final he is telling us to review EVERYTHING we have learned. Oh and he was so kind to give us "study tips"! Really?!


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