This class was interesting. Going in, I only had a basic understanding of accounting methods. The biggest thing to know with this class is the accounting equation (Assets = Liabilities + Stockholder Equity + Revenue - Expenses - Dividends). It’s also good to know which side increases with debit vs credit (DC/ADE/LER). Once you forget that a credit is a plus and a debit a minus, the material becomes easily digestable.
I watched about 20 or so of the accounting videos by “CPA Strength” and a few (mainly adjusting entries) by EdSpira. I spent a fair amount of time in the reading material mainly focusing on modules 2-5. I didn’t spend a lot of time on the other modules because they didn’t carry a lot of weight on the exam (plus they are mostly common sense stuff).
I then took the PA and scored in the 80% range. I did have one section of “approaching competence” sections, namely accounting applications. I reviewed that section in the reading material then scheduled the OA. Scored Exemplary, much to my surprise, but still got “approaching competence” in the applications section. Shrug.
CPA Strength Accounting for Beginners
Memorize the expanded accounting equation and DC/ADE/LER.