Is Principles of Financial Accounting and Principles of Finance the same?

[gigoofy]

I need Priciples of Financial Accounting to complete my degree. I see that InstantCert has flash cards for the DANTES Principles of Finance. Should I study those, or the CLEP Principles of Accounting?

Thanks you in advance!

[Kelsey]

Hi! They are not the same! I just took the CLEP Financial Accounting and am now currently studying for the DSST Principles of Finance. Use the CLEP Principles of Accounting cards. You will notice that these cards are separated into Financial Accounting and Managerial Accounting. You will only need to study the first section (with 5 flashcard sections) entitled Financial Accounting. I used the REA book for Financial Accounting and the free online Peterson's practice tests as well. Also a good resource is
- Free Online Accounting Course | AccountingCoach.com

Check out the Specific Exam feedback for this test too! There's a wealth of info. in there for these tests! Hope that it goes well for you. Let me know if I can help with anything else! Blessings -kelsey

[bllyshrs]

Hi! They are not the same! I just took the CLEP Financial Accounting and am now currently studying for the DSST Principles of Finance. Use the CLEP Principles of Accounting cards. You will notice that these cards are separated into Financial Accounting and Managerial Accounting. You will only need to study the first section (with 5 flashcard sections) entitled Financial Accounting. I used the REA book for Financial Accounting and the free online Peterson's practice tests as well. Also a good resource is
- Free Online Accounting Course | AccountingCoach.com

Check out the Specific Exam feedback for this test too! There's a wealth of info. in there for these tests! Hope that it goes well for you. Let me know if I can help with anything else! Blessings -kelsey

Kelsey, any thoughts on the Principles Of Finance DSST? I have read through the specific exam feedback, and a ton of resources there, but I am trying to cut through the fog and get to one or two solid resources to study from. Being that you just took that exam, any pearls of wisdom that you can offer? I am taking that exam next.

[Kelsey]

Kelsey, any thoughts on the Principles Of Finance DSST? I have read through the specific exam feedback, and a ton of resources there, but I am trying to cut through the fog and get to one or two solid resources to study from. Being that you just took that exam, any pearls of wisdom that you can offer? I am taking that exam next.

hi bllyshrs!! I actually just took the Financial Accounting Clep and am currently studying for the Principles of Finance DSST! I am taking it though on Friday at 12:30 EST. I think the hardest part for me so far is not having 1 or 2 really good resources to study from. I bought a Corporate Finance book off of Amazon for cheap. I'm sure it contains all the content on the test itself, but it's over 1,000 pages and goes in way too much depth for me on certain topics. But what I have been doing is taking everything that's on the DSST Principles of finance fact sheet and reading up on all the topics they have listed. I have been utilizing all of those resources on the Specific exam feedback, because some cover certain topics and others don't. I do highly recommend this site! teachmefinance.com

I have taken all the feedback from the Specific exam section and taken all that is listed on the dsst fact sheet and tried my best to prepare with any of the websites that were listed on the forum and reading what I could understand from the Corporate Finance book. I have also been using the Instantcert flashcards, but from what I've read they don't prepare you enough by themselves. I'm so sorry I can't be of more help right now, but I will let you know how it goes for me on Friday! I am nervous about it a little, but I know that I definitely put hard work into this test and I pray that it pays off in the end! Oh, and I also got the BA-II plus financial calculator. It's a great tool and I highly suggest it!
Good luck to you and I will let you know how it goes this Friday! ~Kelsey

[bllyshrs]

Thanks Kelsey. Hope your test went well on Friday. I have mine on Wed, and like you, was a bit frustrated that there was not one standard source of reference to go to. I picked up several books from the library over the weekend, many that were recommended by others on the forum. My strategy has been to go over the flashcards on instantcert, then review the ppt's from the chairman's greeting website for more details. Anything that I can't seem to figure out, i'm reading that chapter in the books that I have and am hoping this sticks. I feel a lot better than I did last week, but i think that all the comments on the forum got me more worried and stressed than anything. Let me know if there are any key items you picked up or noticed that weren't mentioned on the forums.

[Kelsey]

Thanks Kelsey. Hope your test went well on Friday. I have mine on Wed, and like you, was a bit frustrated that there was not one standard source of reference to go to. I picked up several books from the library over the weekend, many that were recommended by others on the forum. My strategy has been to go over the flashcards on instantcert, then review the ppt's from the chairman's greeting website for more details. Anything that I can't seem to figure out, i'm reading that chapter in the books that I have and am hoping this sticks. I feel a lot better than I did last week, but i think that all the comments on the forum got me more worried and stressed than anything. Let me know if there are any key items you picked up or noticed that weren't mentioned on the forums.

bllyshrs,
So sorry I didn't get back to you sooner! I have been out of town the whole week and just got back in. How did the test go for you or is it this Wednesday that you take it? I ended up passing with a 430!! So I was very happy to have this one over with.

[bllyshrs]

bllyshrs,
So sorry I didn't get back to you sooner! I have been out of town the whole week and just got back in. How did the test go for you or is it this Wednesday that you take it? I ended up passing with a 430!! So I was very happy to have this one over with.

No problem. test went well, I think. Mine was paper and pencil, so it will still be another week or so till I get my results. The forum was a HUGE help; a lot of stuff mentioned here, and I'm very glad that I picked up a few books to go over the tougher topics. The fact that I didn't really have a practice test got me more stressed out than anything; once I went in there and took the test, there was a lot of things that I felt comfortable with. I took notes to see which questions i knew for sure, which ones were 50/50, and which ones I had no clue on. Only a handful that I was clueless on, about 60% that I was sure about and the rest I had narrowed down to two options. So I think I passed, but I will keep my fingers crossed for the results.