Financial/Managerial Accounting - United Bimmer Community

**CAPiTUL** · 05-09-2006, 03:09 PM

If anybody had the intro courses to these, what was covered on the finals for them? It has been YEAAAAAAAAAARS since I've been in any kind of accounting setting, albeit academic or professional, and I now need basic accounting skills (the adequecy of which will be deemed by a test). If you could drop a gem on me I would definitely appreciate it! Thanks.

nick_318is · 05-09-2006, 04:59 PM

I have taken both intros to Financial and Managerial accounting, although that was a year ago. I just took another financial accounting class, and I do not have the final with me and I am going to guess that everyplace is different with what they teach and test for.

From what I remember from my final:
There was a problem about recording notes payable
Problem on Loan issuing and paying dividends
Problem on similar asset exchange
Problem on effects on the R/E from over/understated ending inventory

I found a copy of a sample from my latest Financial Accounting class its kind of similar to the final I took, as far as the intro classes i dont have any material or remember much of them. Let me know if you want the solutions to these samples I have a key for it and next time i'm at my appartment I can grab the real solutions and how to do them.

Cancel that its too big for me to use as an attachment (Harry can I have some more space?) PM me if you want it and I can e-mail it.

**CAPiTUL** · 05-09-2006, 08:01 PM

Mmmmmmmmmmmeeessage!

**BMWLotAttendant** · 05-09-2006, 10:47 PM

As as a matter of fact.

I'm taking Managerial Accounting this summer.

I've taken Financial accounting and found it sooo much fun.

I have the book for further references.

**CAPiTUL** · 05-09-2006, 11:09 PM

Lot, do you remember what sort of topics were covered on your final? I have to take a test to work for the IRS. Thanks.

drz · 05-09-2006, 11:12 PM

All easy as cake

**BMWLotAttendant** · 05-09-2006, 11:13 PM

Let me go get it.

**BMWLotAttendant** · 05-09-2006, 11:20 PM

This is the final for Financial Accounting.

1. SML Equasion
2. Expected Returns-weighted average of outcomes
3. Portfolio Returns (Weighted average of returns w/in the portfolios) (WA beta, WA SML Equasion)
4. Non-Annual Comounding (c/y, p/y, N+I)
5. Bond Valuation (N, FV, Payment--Contractucal)
6. Constant Growth Stock (I, P=PV--Mkt)
7. WACC (ks (p1/p0)+g) or (Po (D1)/ks-g))
8. Payback period
9. Discounted Payback peroid
10. NPV
11. IRR
12. MIRR
13. Ratios (around 12-15)

Anything in details, I can help if you want to know more.

**CAPiTUL** · 05-10-2006, 09:38 PM

So, from your experiences, what are the most PRACTICAL, USEFUL, and IMPORTANT things from your classes?

nick_318is · 05-10-2006, 10:32 PM

LotAttendant your final sounds like a finance class not a Finacial accounting class, but i realize a lot of ideas overlap, and is it bad that i know what each of those things are? Cap let me ask what is it that you would be doing at the IRS those types of things are probably your best bet.

**CAPiTUL** · 05-10-2006, 11:27 PM

Tax Resolution Specialist

The actual accounting component of the job is vague. here is a link to the description:

http://jobs.irs.gov/car_opp_taxRes.html

You see, normally the federal government drags its ass in responding to people and the whole process takes a few months. I had planned on refreshing and studying the basic competencies in the coming weeks. well, in a matter of 2 weeks they contacted me and said I have to test out within the next 3 days. needless to say, this was a definite curve ball.

**BMWLotAttendant** · 05-11-2006, 02:26 AM

Quote:

Originally Posted by nick_318is

LotAttendant your final sounds like a finance class not a Finacial accounting class, but i realize a lot of ideas overlap, and is it bad that i know what each of those things are? Cap let me ask what is it that you would be doing at the IRS those types of things are probably your best bet.

Yeah, that was a Financial Managment class.

Accounting...that was like 2 years ago.

I can help you on the finance side, not accounting. It sucks, I hate accounting.

And, no Nick. Knowing those things are a good thing.

Good luck