Archives For Accounting

Accounting II really isn’t that difficult. At least, it’s not that hard to pass, but it’s tricky to excel in (pun intended).

Brian Parkin, 1984

Accountants are ^this^ cool

There’s just a few things to be aware of:

The MYOB  assignment is a massive schlep, it takes at least a full day.  All you hand in is a profit/loss statement and a balance sheet, so they don’t get too much info and are marking it mainly with a gut feeling.  Make sure you get all of your account names right, and have the numbers around the right amount and you are almost guaranteed <6 out of 10.  Also, don’t be scared to question your tutor’s marking of the assignment: I did this and pulled myself up a mark to 9/10.  My profit and loss statement and balance sheets are attached, if you want my MYOB files, hit me up with an email or a comment MYOBProfitMYOBBalance.

The homework and tutorial times are probably the most useful thing you’ll do all semester.  Firstly, learning in the tutorial after you’ve done your homework questions is easier than trying to swallow lectures whole without practice.  Secondly, it’s an easy 10 marks: I don’t doubt that anyone can get 10/10, all you have to do is do the homework (getting it right isn’t that important, as long as you try it), talk a little in class and attempt (you can literally write three dot points on a page) to do the discussion questions and you will get full marks in the exam.  Here’s an example of my preparation for a week’s tutorial questions, if you want my answers to any other week, hit me up (note: these are practice questions, I often did them before reading through the chapter, so my answers do have mistakes in them.  This is merely meant to be an example) Tute3.

The exams are relatively easy.  They tell you, just before each test, exactly what is in each section of each exam.  You will pass the exams if you have done your homework.

    • Before the test, I recommend you do all the homework questions again, do all of the self-study questions and read the chapters you have difficulty with.
    • Don’t neglect your theory, since <15% of the exam is theory based.
    • Here are my midsem notes: 22207MidSems.  More important than notes, however, are practice questions.
    • I studied for finals using the revision lecture slides and by doing lots of practice questions, that should do.

Don’t let this subject get away from you (i.e. go to all the tutes, as many lectures as you can and keep up with your homework).  If you have a couple of days to cram before each test, you will be fine!

Both textbooks are essential: Accounting and MYOB 17.  I had a great tutor, Mr Seethmaraju, I highly recommend him.


To tell you the truth, for this subject I didn’t make any notes at all.

All I did was *naughty* all of the homework for the semester in the week before the exam.


Accounting actually isn't too hard

Regarding the 3 options for assessments, being a first semester at uni wimp, I decided that option 3 was the safest option, giving me the best chance to grab as many marks as possible.  I didn’t take into account the way that I study, which is generally late, and generally quite crammy (though I’m getting better).  Also, my tutor hated me (he gave me 5/10).  My finals were my best mark.  If I would have chosen option 1, I would have achieved my best mark, by quite a margin.  I did manage to get a distinction, but I would have easily been in HD territory if I had more balls and chose option 1 or 2.

Have guts, and take your study habits into consideration when choosing an assessment option.