How to Take an Accounting Skills Test
Maybe you've just completed a basic accounting course, and your instructor is testing you on your grasp of fundamental concepts. Or maybe you've applied for a job, competition is fierce and your prospective employer wants to hire only the cream of the crop. Or perhaps after years of study, you are preparing for a certification exam. In any case, taking a test of your accounting skills can prove scary, frustrating, even maddening. To succeed, practice and prepare, then control for as many test-taking variables as possible.
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Things You'll Need
- Accounting course material (online or print)
- Calculator
- Pencils
- Watch or other timepiece
Instructions
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Review your accounting course material. Though a review sounds time-consuming and burdensome, you may have forgotten concepts, skills or details conveyed early in the course. Relative to basic accounting principles, you may wish to review account types, such as assets, liabilities, revenue and expense. In a more advanced course, you may wish to firm up your understanding of the numerous methods of calculating depreciation. If you are taking a standardized test and have not been exposed to the material in a while, it is doubly important to review.
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Find out as much as you can about what will be on the test. If you have just completed an accounting course, your instructor will probably have informed you about its content. But if you are taking a certification test, you will likely be able to find out what the test covers from the website of the organization that sponsors the test, for example, ExpertRating.com. A test that hones in on a particular subject area, such as cash flow or accounts payable, may seem easier to study for than a more generalized exam, but if it goes into greater depth on the specific topic, you may have to prepare more carefully. An accounts payable test may delve into sales and use tax, prepaid expense and the value-added tax, for example, topics that require careful attention. In any case, get as much detail as possible about what exactly the test will cover.
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Take a sample test. Though the school or organization administering the test may not offer a sample test, look online to find a sample test with similar subject matter. For example, if your test is about basic accounting principles, find a test online that will grill you on concepts such as debits, credits and financial reporting. Taking a sample test will help you prepare for the timed nature of the test, allowing you to practice pacing yourself on concept questions, as well as calculations. For instance, if you know your basic accounting equation and can easily apply it to business situations, you may be able to move more quickly on those questions. If you tend to calculate more slowly, by taking a sample test, you will get a better idea of how much time to spend calculating depreciation via the sum-of-the-years digits method, as an example.
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Get a good night's sleep. You've heard it before, but a rested, refreshed mind is your best defense against careless errors, especially when it comes to figures. Get as much sleep as you need the night before your test.
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Gather everything you will need for the test the night before. Materials may include a calculator, pencils (unless they are being provided), water (if it is allowed), timepiece (in case the room clock is not visible from your seat) and even your book if the test is open-book. There's nothing that can fray your nerves like searching for your materials just before you rush out the door for the test. Prepare the night before.
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Read each test question carefully. When you are under time pressure, or when a job or certification is at stake, pressure can cause you to misread questions. This can be disastrous, especially on problems where transposing a digit can lead to the wrong calculation, and then, to the wrong answer. Even if you think you know how questions are usually phrased, be extra careful: Sometimes testers will invert word order just to keep you on your toes. Though time is critical, take enough of it to read and understand the questions (and multiple choice answers) properly. This will allow you to deliver the correct answer the first time, eliminating the need to rework a problem.
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Keep an eye on your watch. Even though there may be a proctor, keep track of how much time you have left on your own. This will help you pace yourself to complete the test in time. Incorporate the time-management skills you learned while taking practice tests. For example, you may have learned to leave more time for addition and subtraction and less time for other tasks.
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Review your test. If you complete the test before time is called, go back and review your answers, especially those calculations you may have been unsure about. When you feel confident you have completed the test to the best of your ability, turn it in to the proctor.
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References
- Photo Credit taking test image by Petro Feketa from Fotolia.com
