TESC ACC-101-TE Principles of Financial Accounting TECEP

[jawbreakingrr]

Hello everyone. I signed up for ACC 101 TE Principles of Financial Accounting TECEP at TESC. This will be my first course I ever tried testing out of. I was unable to find any information on this test on the forum. Has anyone taken this test? On Instant Cert it doesn't have this test, only the CLEP. Any feed back would be helpful. Also, the book they recommend is also expensive. Financial and Managerial Accounting - 16th edition by Jan R. Williams any substitutes?

Thanks,
Gil

[sanantone]

What do you consider expensive? ValoreBooks will let you rent it for $14.98 plus shipping. You can buy used for $19. Amazon is renting it for $26.

[bricabrac]

I have a copy of Financial & Managerial Accounting (3rd Edition) by Charles Horngren, let me know if interested.

[jawbreakingrr]

What do you consider expensive? ValoreBooks will let you rent it for $14.98 plus shipping. You can buy used for $19. Amazon is renting it for $26.

MBS wants over $200 for the recommended book, that's double the price of the TECEP. Anything under $50 is great! I'll check out those sites, those prices are more what I was looking for. Thanks.

Will studying IC CLEP for Financial Accounting prepare me for TESC TECEP? Or is it a different format?

[jawbreakingrr]

I have a copy of Financial & Managerial Accounting (3rd Edition) by Charles Horngren, let me know if interested.

That book should work. Right?

[bricabrac]

That book should work. Right?

In my opinion, Yes. TECEPs are usually geared towards a specific text but in the case of accounting there is not much room for author interpretation or theory it's all numbers. I like the complete accounting texts as they cover both ACC101 & ACC102. You could also use it to study until your recommeded text arrives, your call.

Using IC flashcards in conjunction with the textbook and recommended textbook companion website would be a great idea. (Details: This is a two-hour examination in which you must answer 100 multiple-choice questions worth 1 point each. A passing score is 60 out of 100 points.) The more you study and digest the information, especially from alternate sources, the better your chances of doing well on the exam.

Finally, below is the list of chapters. Take a look at the test description and if it covers all the topics needed let me know.

Chapter 1. Accounting and the Business Environment
Chapter 2. Recording Business Transactions
Chapter 3. The Adjusting Process
Chapter 4. Completing the Accounting Cycle
Chapter 5. Merchandising Operations
Chapter 6. Merchandise Inventory
Chapter 7. Internal Control and Cash
Chapter 8. Receivables
Chapter 9. Plant Assets and Intangibles
Chapter 10. Current Liabilities and Payroll
Chapter 11. Long-Term Liabilities, Bonds Payable, and Classification of Liabilities on the Balance Sheet
Chapter 12. Corporations, Paid-In Capital, and the Balance Sheet
Chapter 13. Corporations: Effects on Retained Earnings and the Income Statement
Chapter 14. Statement of Cash Flows
Chapter 15. Financial Statement Analysis
Chapter 16. Introduction to Management Accounting
Chapter 17. Job Order and Process Costing
Chapter 18. Activity-Based Costing and Other Cost-Management Tools
Chapter 19. Cost-Volume-Profit Analysis
Chapter 20. Short-Term Business Decisions
Chapter 21. Capital Investment Decisions and the Time Value of Money
Chapter 22. The Master Budget and Responsibility Accounting
Chapter 23. Flexible Budgets and Standard Costs
Chapter 24. Performance Evaluation and the Balanced Scorecard
Appendix A (Amazon Fin'l Rpt), Appendix B (Tables PV & FV), GLINDEX, Company Index

[sanantone]

I only see a book for Managerial Accounting, but for future reference, Saylor has links to open textbooks.
Bookshelf « Saylor Academy

I wouldn't just rely on CLEP IC flashcards for a TECEP. The way CLEPs and DSSTs are designed, one can pass many of them with getting less than 50% of the questions right.

[jawbreakingrr]

I'll check out their site. Thanks

Bricabrac, I sent you a PM.