Financial and Managerial Accounting

Discussion in 'General Distance Learning Discussions' started by etech, Jan 22, 2004.

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  1. etech

    etech New Member

    How difficult are these courses/exams for someone with no accounting background ? These are required for Excelsior Business/MIS degree. Any pointers to any courses that would satisfy these requirements ?
     
  2. etech,

    I'm planning to take the CLEP Accounting exam in March after Math and Economics month in Feb (I'm assuming you're taking the CLEP as well).

    Although I'm still at the beginning stage I purchased the Standard Deviants tapes on eBay (about $15) and will be watching them next month. I also got the Cliff's quick review Accounting I and II books - this will be my starting point to review before I take the first practice exam. I'll then tailor my studies around areas that are lacking.

    I have very little accounting knowledge aside from knowing how to read a balance sheet and the difference between debits and credits, and maybe a bit of managerial accounting experience but nothing rigorous.

    Note that at Excelsior the CLEP Accounting exam yields a Pass/Fail grade and not a letter grade so a 51 is as good as a 71. This made me feel a lot more relieved :)

    Cheers,
    Mark
     
  3. Just noticed that there are a few Standard Deviants Accounting tapes currently on offer at eBay with bids starting at $8 or less.
     
  4. Jhastings01

    Jhastings01 New Member

    CLEP Accounting

    In my opinion, the easiest and fastest way to get your 6 accounting hours out of the way. I used Barrons accounting review and the McGraw hill 36 hour accounting course book. You need to know all and I mean all the accounting terminology and the basics of financial statements and how to post to T accounts.
    This will be good enough to get you a pass in the low 60's. The rest of the stuff on the exam can be passed by good business experience and common sense.
     
  5. etech

    etech New Member

    what are the options for Managerial accounting ? I have never looked at this. Are there any courses that anyone knows which could possibly satisfy the requirements. I want to look at the course contents and see how hard it is for me to get these. Dont you think a course will be better for someone with no accounting experience instead of going for an exam? BTW, does Excelsior wants these to be upper level courses ?
     
  6. gsmckee

    gsmckee New Member

    But always keep in mind it's good to try to do as well as possible. For instance, K-State CLEP guidelines show that a PRINCIPLES of ACCOUNTING is scored as follows:
    50-54 ACCTG231 & ACCTG241 6 Hours C,
    55-60 ACCTG231 & ACCTG241 6 Hours B,
    61 + ACCTG231 & ACCTG241 6 Hours A.

    I might only be interested in a pass to satisfy the P/F at school X. My concern is that if I was to apply to graduate school Y -- who DID grade the cleps for THEIR undergrads -- How might I look then?

    Big deal? Maybe, maybe not. I just like to remind folks that some schools grade them, some don't... Know where you are.
     
  7. Agreed - as etech mentioned Excelsior specifically my answer was targeted just to this institution, but your mileage may vary with each school's requirements.

    Also, with Excelsior, if it's listed as a Pass/Fail, unless at some time in the future the student agrees to change all their P/F scores to letter grades it will remain P/F. Little risk.

    Cheers,
    Mark
     

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