Online Degrees and CLEP and DSST Exam Prep Discussion › Main Category › General Education-Related Discussion v
Principles of Accounting

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Thread Modes
Principles of Accounting
Librevore Offline
Senior Member
****
Posts: 484
Threads: 15
Likes Received: 2 in 2 posts
Likes Given: 0
Joined: Apr 2006
#56
09-04-2006, 10:16 PM
Big Grin
lhodgdon Wrote:I'm studying for the Accounting CLEP test and spent literally all Labor Day weekend studying. So far (it's now Monday, Labor Day), I've gotten through the Financial Accounting portion on IC. I'm hoping to get through the rest tonight. I may have to do the same thing next weekend as well. But for those of you who are studying for the Accounting test as well, I thought I would share a useful tip I found. The hardest part I found was getting past the whole debit and credit thing, until I found these acronyms.

For accounts that increase on the debit side, use the acronym:
D ividends (or Draws)
E xpenses
A ssets
L oses

For accounts that increase on the credit side, use the acronym:
G ains
I ncome
R evenue
L iability
S tockholder's Equity

The only exception to these acronyms is contra-asset accounts, that increase on the opposite side than they normally would.

These acronyms have been a tremendous help for me. I'm hoping to take the test in the next couple weeks. Wish me luck!

Good tip! Thanks lhodgson.
Kate
*******
BS Psychology
Find
Reply


Messages In This Thread
Principles of Accounting - by snazzlefrag - 06-10-2006, 10:34 AM
Principles of Accounting - by yutzyj - 06-10-2006, 11:37 AM
Principles of Accounting - by snazzlefrag - 06-10-2006, 12:12 PM
Principles of Accounting - by yutzyj - 06-10-2006, 05:01 PM
Principles of Accounting - by libartsmgr - 06-10-2006, 07:30 PM
Principles of Accounting - by snazzlefrag - 06-16-2006, 09:54 AM
Principles of Accounting - by anar579 - 06-16-2006, 11:18 AM
Principles of Accounting - by snazzlefrag - 06-16-2006, 11:26 AM
Principles of Accounting - by anar579 - 06-16-2006, 12:00 PM
Principles of Accounting - by dhlvrsn - 06-16-2006, 12:03 PM
Principles of Accounting - by snazzlefrag - 06-16-2006, 12:28 PM
Principles of Accounting - by ChristaKB - 06-16-2006, 10:21 PM
Principles of Accounting - by snazzlefrag - 06-16-2006, 10:35 PM
Principles of Accounting - by libartsmgr - 06-16-2006, 10:40 PM
Principles of Accounting - by snazzlefrag - 06-16-2006, 10:46 PM
Principles of Accounting - by libartsmgr - 06-17-2006, 07:18 AM
Principles of Accounting - by ChristaKB - 06-17-2006, 01:23 PM
Principles of Accounting - by snazzlefrag - 06-17-2006, 01:58 PM
Principles of Accounting - by Kiwi Lover - 06-17-2006, 09:37 PM
Principles of Accounting - by Kiwi Lover - 06-17-2006, 09:40 PM
Principles of Accounting - by snazzlefrag - 06-17-2006, 10:06 PM
Principles of Accounting - by snazzlefrag - 06-17-2006, 10:08 PM
Principles of Accounting - by snazzlefrag - 06-20-2006, 12:17 AM
Principles of Accounting - by Librevore - 06-20-2006, 09:06 AM
Principles of Accounting - by anar579 - 06-20-2006, 09:26 AM
Principles of Accounting - by Kiwi Lover - 06-20-2006, 12:05 PM
Principles of Accounting - by Kiwi Lover - 06-20-2006, 12:06 PM
Principles of Accounting - by snazzlefrag - 06-20-2006, 01:12 PM
Principles of Accounting - by cbrchris - 06-20-2006, 02:13 PM
Principles of Accounting - by Kiwi Lover - 06-20-2006, 03:39 PM
Principles of Accounting - by yutzyj - 06-20-2006, 04:03 PM
Principles of Accounting - by snazzlefrag - 06-20-2006, 04:27 PM
Principles of Accounting - by snazzlefrag - 06-20-2006, 04:29 PM
Principles of Accounting - by BELLA - 06-20-2006, 07:12 PM
Principles of Accounting - by Librevore - 06-20-2006, 09:14 PM
Principles of Accounting - by yutzyj - 06-21-2006, 08:13 AM
Principles of Accounting - by adrian - 06-23-2006, 10:09 AM
Principles of Accounting - by snazzlefrag - 06-23-2006, 10:20 AM
Principles of Accounting - by yutzyj - 06-23-2006, 11:05 AM
Principles of Accounting - by upgray - 08-02-2006, 04:55 PM
Principles of Accounting - by ShotoJuku - 08-02-2006, 05:11 PM
Principles of Accounting - by snazzlefrag - 08-02-2006, 07:40 PM
Principles of Accounting - by avi - 08-06-2006, 10:44 AM
Principles of Accounting - by Librevore - 08-06-2006, 04:56 PM
Principles of Accounting - by rome - 08-15-2006, 10:42 AM
Principles of Accounting - by ShotoJuku - 08-15-2006, 11:01 AM
Principles of Accounting - by snazzlefrag - 08-15-2006, 03:20 PM
Principles of Accounting - by rome - 08-18-2006, 04:25 PM
Principles of Accounting - by snazzlefrag - 08-18-2006, 04:35 PM
Principles of Accounting - by rome - 08-19-2006, 07:18 AM
Principles of Accounting - by ShotoJuku - 08-19-2006, 08:08 AM
Principles of Accounting - by Librevore - 08-20-2006, 02:03 AM
Principles of Accounting - by lhodgdon - 09-04-2006, 04:33 PM
Principles of Accounting - by yutzyj - 09-04-2006, 06:18 PM
Principles of Accounting - by snazzlefrag - 09-04-2006, 09:18 PM
Principles of Accounting - by Librevore - 09-04-2006, 10:16 PM
Principles of Accounting - by lhodgdon - 09-17-2006, 01:08 PM
Principles of Accounting - by Kiwi Lover - 09-17-2006, 01:59 PM
Principles of Accounting - by snazzlefrag - 09-17-2006, 04:23 PM
Principles of Accounting - by lhodgdon - 09-17-2006, 11:31 PM
Principles of Accounting - by lhodgdon - 09-20-2006, 11:24 PM
Principles of Accounting - by Kiwi Lover - 09-21-2006, 05:31 AM
Principles of Accounting - by yutzyj - 09-21-2006, 05:09 PM
Principles of Accounting - by lhodgdon - 09-22-2006, 11:40 AM
Principles of Accounting - by Kiwi Lover - 09-22-2006, 12:50 PM
Principles of Accounting - by ShotoJuku - 09-22-2006, 12:58 PM
Principles of Accounting - by Librevore - 09-22-2006, 03:23 PM
Principles of Accounting - by snazzlefrag - 09-22-2006, 08:27 PM
Principles of Accounting - by adamdriggers - 09-29-2006, 05:27 PM
Principles of Accounting - by Librevore - 10-23-2006, 01:08 AM
Principles of Accounting - by snazzlefrag - 10-23-2006, 01:14 AM
Principles of Accounting - by rome - 10-23-2006, 02:39 PM
Principles of Accounting - by donvago1 - 11-09-2006, 07:19 PM
Principles of Accounting - by Kiwi Lover - 11-09-2006, 07:27 PM
Principles of Accounting - by yutzyj - 11-09-2006, 07:47 PM
Principles of Accounting - by wannabeit - 11-09-2006, 08:40 PM
Principles of Accounting - by Librevore - 11-09-2006, 10:18 PM
Principles of Accounting - by stdss - 11-12-2006, 09:03 PM
Principles of Accounting - by Librevore - 11-13-2006, 12:01 AM
Principles of Accounting - by yutzyj - 11-13-2006, 02:54 PM
Principles of Accounting - by Papa Georgia - 11-13-2006, 03:27 PM
Principles of Accounting - by Silky1 - 12-06-2006, 12:39 PM
Principles of Accounting - by Keyboard Ninja - 12-13-2006, 03:24 PM
Principles of Accounting - by Silky1 - 12-14-2006, 02:00 PM
Principles of Accounting - by Winnawer - 12-26-2006, 08:38 AM
Principles of Accounting - by ShotoJuku - 12-26-2006, 09:14 AM
Principles of Accounting - by fiveninerzero - 12-27-2006, 05:59 PM
Principles of Accounting - by decall - 01-16-2007, 04:45 PM
Principles of Accounting - by cyclist - 03-11-2007, 06:25 PM

Possibly Related Threads...
Thread Author Replies Views Last Post
  Accounting courses from CPACredits.com/Upper Iowa University inor 26 5,930 12-08-2024, 01:52 PM
Last Post: SophiaPrincess
  ACCUMULATING ACCOUNTING CREDITS for CPA - WHAT COLLEGE TO USE AND FROM WHOM? germ 9 3,517 09-27-2024, 06:03 PM
Last Post: turbotortuga
  Real? OTHM Level 7 Diploma in Accounting and Finance David1477 1 1,001 06-20-2024, 01:53 AM
Last Post: OtterDen
  CPA prep course + 30 hours of Accounting credit for $2,970 freeloader 6 1,245 05-31-2024, 07:33 AM
Last Post: Vle045
  Need 12 Accounting Credits... TallC 6 1,698 08-17-2021, 01:40 AM
Last Post: rachel83az
  DSST Principles of Public Speaking MrsIrie 12 3,554 09-04-2020, 10:55 PM
Last Post: momofminis
  Intermediate Accounting I and II self-paced options? RDUstudent 6 1,848 05-23-2020, 11:25 AM
Last Post: dfrecore
  Teach myself Accounting natshar 7 2,378 04-05-2020, 04:20 PM
Last Post: natshar
Question list of available accounting courses udi 7 2,284 01-07-2020, 04:18 PM
Last Post: Yanji
  New CSU Global SSAs in Accounting sanantone 15 3,868 11-01-2019, 09:31 PM
Last Post: tjguitar85

Forum Jump:


Users browsing this thread: 4 Guest(s)