Cost Accounting & Income Tax tests...


B

BoycottRIAA

Just had the first Cost Acct and Inc. Tax Accounting tests this semester.

Whew -- Cost was okay. I got all of the first seven problems right. Did the
Cost of Goods Manufactured and Cost of Goods Sold statements, plus the
income statement. Did all the journal entires (materials inventory, WIP -
Inventory, Overhead control), did the overhead variance, etc. The only
problems I had were the last two questions -- equivalent units & the fifo
method. We didn't review it in class, and didn't have any homework on it
(just had the problems worked out for us) and I did poorly on the section.
It's a lot of remember, and my mind jumbled up.

The income tax test was hilarious. Last semester i had it and the tests were
open book since there's so much to remember. This year, it's not open book.
The test was on Chapter 3 thru 7 and each chapter had 30 problems assigned
for homework. So that's 150 problems. The test was... 12 problems. It was so
hard to study for because we didn't know what would be on it -- would it be
hobby income vs business income? imputed interest? accrual vs cash basis?
rental property? turns out I did fine on the test except the last two
problems... things we didn't even really go over in class and the teacher
"rushed" through. So, im disappointed.

First, the teacher cut the class from 8am - 10am to 830am to 945am. We whizz
through the individual income taxes book at a "speeeeeedy" rate. Then we do
about 30 problems which he goes over quickly. And then the next chapter.
Ridiculous class. This guy is too old, and he's a terrible "teacher." We did
7 chapters in 4 weeks. The tests aren't open book. We never even see a 1040.
Simply ridiculous. $20,000 a year to basically "buy the book and teach
myself."



--
--
Most recent games played:
ESPN NFL Football XBOX 9.5/10
ESPN NHL Hockey XBOX 9.0/10
Starsky & Hutch XBOX 7.5/10
Otogi: Myth of Demons XBOX 7.5/10
Billy Hatcher and the Giant Egg GAMECUBE 9.0/10
NHL Hitz Pro XBOX 8.5/10
Dino Crisis 3 XBOX 5.0/10

Now Playing:
EA NHL 2004 XBOX
 
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S

Steve

BoycottRIAA said:
Just had the first Cost Acct and Inc. Tax Accounting tests this semester.

Whew -- Cost was okay. I got all of the first seven problems right. Did the
Cost of Goods Manufactured and Cost of Goods Sold statements, plus the
income statement. Did all the journal entires (materials inventory, WIP -
Inventory, Overhead control), did the overhead variance, etc. The only
problems I had were the last two questions -- equivalent units & the fifo
method. We didn't review it in class, and didn't have any homework on it
(just had the problems worked out for us) and I did poorly on the section.
It's a lot of remember, and my mind jumbled up.

The income tax test was hilarious. Last semester i had it and the tests were
open book since there's so much to remember. This year, it's not open book.
The test was on Chapter 3 thru 7 and each chapter had 30 problems assigned
for homework. So that's 150 problems. The test was... 12 problems. It was so
hard to study for because we didn't know what would be on it -- would it be
hobby income vs business income? imputed interest? accrual vs cash basis?
rental property? turns out I did fine on the test except the last two
problems... things we didn't even really go over in class and the teacher
"rushed" through. So, im disappointed.

First, the teacher cut the class from 8am - 10am to 830am to 945am. We whizz
through the individual income taxes book at a "speeeeeedy" rate. Then we do
about 30 problems which he goes over quickly. And then the next chapter.
Ridiculous class. This guy is too old, and he's a terrible "teacher." We did
7 chapters in 4 weeks. The tests aren't open book. We never even see a 1040.
Simply ridiculous. $20,000 a year to basically "buy the book and teach
myself."-
--
Most recent games played:
ESPN NFL Football XBOX 9.5/10
ESPN NHL Hockey XBOX 9.0/10
Starsky & Hutch XBOX 7.5/10
Otogi: Myth of Demons XBOX 7.5/10
Billy Hatcher and the Giant Egg GAMECUBE 9.0/10
NHL Hitz Pro XBOX 8.5/10
Dino Crisis 3 XBOX 5.0/10

Now Playing:
EA NHL 2004 XBOX

hmm... maybe this guy has been playing too many video games, .. but
then again I complained about my son playing "GTA 3 vice city" too much
 

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