In the theory section of the exam, students will study the methods used in financial management to generate revenue, identify opportunities for future growth, and determine which investment options are best suited for those opportunities. A student will learn about financial statement preparation, the use of internal and external sources of information, and how to evaluate financial data for various purposes. The practical portion of the exam focuses on how well the student can apply the information learned in the theoretical sections. Students will test their analytical skills through real situations and will also perform an audit and a business case analysis.
At the end of the exam, students will have passed. If they pass without failing, they will be able to take the exam for the fourth year of a Bachelor’s degree program. After passing the exam, students should already know the basics of accounting, including the concepts learned in the theory portion of the exam.
If you do not pass the exam the first time around, try to improve on your knowledge. It can be a good idea to get some practice questions and practice the theories and the practical sections of the exam. Your professors may also give you access to practice exams.
The reason that the Theory and Methods section is a pre-requisite for taking the Practical Analysis exam is because the practical exam is typically administered only after students have already successfully taken the Theory exam. For this reason, most colleges and universities offer practice exams that can be taken in advance of taking the actual exam.
Many employers offer practice tests in preparation for the actual exam. They may offer mock exams that simulate real financial situations or provide practice questions and/or real-life scenarios to prepare students for the actual exam.
You should also review the materials provided by your college for the exams. The topics covered in the textbook may be similar to what is covered in the Theory and Methods section, but the practical exercises can help you see how to analyze the information better.
Finally, make sure that you have a positive attitude about passing the accounting exam. The test is an important milestone in your education and the more positive you feel about the exam, the more confident you will be about your ability to pass it.
Do not become discouraged if you fail one time on the exam. You can always retake it another time to prepare for the next time.
Good luck! I hope you will be able to pass your accounting exam and earn your Bachelor’s degree.
Consider enrolling in a refresher course with my partner, Robert, in order to ensure that you master the concepts covered on the examination. He will provide you with valuable information on how to prepare for the test, as well as offering practice questions and other resources to help you master the concepts in a timely manner.
Take a look at our free report on online courses. For a modest monthly fee, you will receive the essential tools you need to succeed on your Bachelor’s degree. This report will not only teach you about accounting, but also help you prepare for the practical exam.