Generally, the intermediate exam is designed with practical application in mind. You will get complete training on the type of questions that will be asked during the exam and how to answer them without any difficulty. You will also learn how to make a presentation to the examiner and give presentations to your employer and friends. This training is the only thing that differs from the training given to those who have the examination for CPA.
The different types of intermediate exam are designed with different goals. In the case of CPA, the exam focuses on how well you can manage money, you will learn about how to write an effective profit and loss statement, analyze the balance sheet, create a budget, calculate tax returns, create accounts receivable, create an inventory, create a credit statement, and the like.
On the other hand, in accounting for intermediate the exam is designed with different goals in mind. For example, in some countries the exam is meant to prepare you for the exam for CPA while others focus more on the type of examination given. In some other countries the intermediate exams are not designed with different objectives but with different exams for different levels of knowledge.
If you want to pass this exam, you need to prepare yourself for the test. Here, I am going to give you some tips to prepare yourself properly for this exam.
First, you have to know the different exam format used by different countries. In some countries, the intermediate exam is administered in a classroom and you will take the exam in a similar way as you would do the CPA exam. In other countries, the intermediate exam is administered over the phone and you will have to submit a sample report, which contains the information required by the exam. You will then be given a written report after you submit the report.
Second, you need to prepare for the exam format based on the country you will be taking the exam for. In some countries, they use the format of multiple choice, while in other countries, you will have to choose between a list of multiple choices. and then give an analysis. Answer the question before the interviewer and show him how you arrived at your answer. Third, it is very important for you to understand how the exam is designed.
Fourth, you have to understand that the intermediate exam is not easy and it is not meant for everyone. The exam is designed in such a way so that you will not pass if you do not really want to pass. It is a good idea for you to find a book or a study guide, which will help you understand the format and the test content.
Finally, you should remember that there is no single best book or study guide to help you pass the exam for intermediate. Instead, you need to practice to get better. Practice makes perfect and this will give you a better chance to pass the exam.
I hope that by now, you have learned a few things about the intermediate exam. I believe that if you follow the tips given above, you can be sure that you will pass the intermediate accounting exam with flying colors.
Remember, different exam formats mean different things to different people and it is therefore important to understand that and prepare accordingly.