The Impact of the Principles of Accounting Experience on Student Preparation for Intermediate Accounting
Both students and instructors alike will generally agree that intermediate accounting courses are among the most difficult and demanding in an accounting or finance curriculum, and perhaps even on the college campus. Intermediate accounting contains subject matter which requires a higher level of thinking and a greater ability to process prior knowledge than do most other courses the student has been exposed to. Intermediate accounting is also very important for accounting majors as it serves as the basis for much of their future accounting coursework. Obviously, it is of paramount importance that students enter Intermediate Accounting I properly prepared for the course. This research examines the preparation level of Intermediate I students. In particular, this study investigates whether three specific factors relating to the principles of accounting course affect a student's preparation for intermediate accounting. The three factors are: the grade earned in the principles of accounting course, the type of school where the principles of accounting course was taken, and the amount of time that elapsed between the principles course and the intermediate course. This research differs from prior research in this area in that prior research focused on factors affecting performance in intermediate and the current research focus is on preparation for the course. Results of this research include the finding that preparation for intermediate accounting is associated with both the grade earned in principles and the amount of time that elapses between principles and intermediate. While no association is found between the type of school where principles is taken and the level of preparation for intermediate, the results indicate that students who take principles of accounting at a 2-year school are more likely to delay taking intermediate accounting. It appears that students who take principles of accounting at a 2-year school may be less prepared for intermediate, not because of the 2-year school per se, but rather because of the associated delay in taking intermediate accounting. These results should be of interest to advisors of future accounting and finance majors, instructors teaching intermediate accounting as well as to individual students planning the timing of their coursework.
Descriptors: Accounting, Finance Occupations, Educational Principles, Course Content, Grades (Scholastic), Correlation, Two Year Colleges, College Transfer Students, Majors (Students), Academic Advising, College Students, Business Administration Education, Prerequisites, Surveys, Student Attitudes, Statistical Analysis
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Publication Type: Journal Articles; Reports - Research
Education Level: Two Year Colleges; Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Texas
Grant or Contract Numbers: N/A
FAQs
Both students and instructors alike will generally agree that intermediate accounting courses are among the most difficult and demanding in an accounting or finance curriculum, and perhaps even on the college campus.
Is intermediate accounting II hard? ›
You may not be aware that intermediate accounting II is frequently considered the toughest course offered in an AACSB business school. There are several reasons that a school will not allow someone to take a course without pre-reqs, especially in a business school where group work and projects are common.
What have you learned in intermediate accounting 1? ›
Students explore the principles of accrual accounting and interpret the steps in the accounting cycle. They learn about financial statement presentation and disclosure requirements, and they examine the conceptual framework and measurement principles underlying financial accounting.
Why is intermediate accounting important? ›
Intermediate Accounting equips individuals with an understanding of fundamental accounting concepts, principles, and techniques. It provides valuable insight into how corporate finances are managed, reported and audited, thereby playing a crucial role in understanding corporate finance.
Is it hard to pass the accounting exam? ›
Very. The overall CPA Exam pass rates hover slightly below 50%. This makes passing the CPA Exam a difficult, but achievable, goal. You'll need to study wisely, set a strategy for managing your time, and call on your support network, but with the right plan and good study materials, you will conquer it.
What is the hardest accounting exam? ›
The FAR section of the CPA exam is hard because it's the most comprehensive of the 4 exam sections, and it has a lot of math questions that are mentally taxing to get through. It has the lowest pass rate of all 4 exam sections and is considered the hardest CPA exam section.
What is the hardest subject in the CPA exam? ›
The Hardest Part of the CPA Exam
- Financial Accounting & Reporting.
- Regulation.
- Auditing & Attestation.
- Business Environment & Concepts.
CPA Exam sections—hardest to easiest
- CPA Exam sections—hardest to easiest.
- Among the three core sections, FAR has a reputation for being the hardest, and it typically has the lowest pass rate. AUD and REG tend to be middle of the road. ...
- Scoring weights. ...
- Scoring Weights by Section.
So let's say you're going to start your career in audit, I would take them in this order: BEC, REG, FAR, AUD. If tax, switch REG and AUD.
How hard is accounting 1? ›
The very first classes you take in accounting should provide a challenge but shouldn't be anything to lose any sleep over. In your very first accounting classes, you're likely to learn about some simple accounting concepts, but if these are all entirely new to you, then there'll be a lot to learn.
the first step of learning how to become an accountant. In your accounting degree program, you'll take math classes and learn about tax law. You can also expect to take business-related courses such as these: Financial recordkeeping.
What is 1 the basic purpose of accounting? ›
The main goal of accounting is to record and report a company's financial transactions, financial performance, and cash flows. Accounting standards improve the reliability of financial statements.
Why is studying accounting so important? ›
Accounting is the key tool business professionals use to understand and communicate business phenomena. When you learn accounting, you unlock the ability to understand businesses, produce and act on useful information, and lead organizations toward financial success.
Why accounting is one of the best majors? ›
An accounting degree lays the foundation for many careers in business, including entrepreneurial ones. Once you gain experience and establish business contacts, you may consider starting your own business. Whether in tax accounting or consulting, you can pursue several avenues with an accounting background.
Why is it so important for every business student to grasp the concepts of accounting even if you do not wish to be an accountant? ›
Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
Is accounting 1 course hard? ›
The very first classes you take in accounting should provide a challenge but shouldn't be anything to lose any sleep over. In your very first accounting classes, you're likely to learn about some simple accounting concepts, but if these are all entirely new to you, then there'll be a lot to learn.
Is accounting 1 hard in college? ›
Accounting is considered one of the most difficult subjects at University, and likely the most challenging in the college of business. From my experience, there are several folks who will attempt to get an accounting degree and ultimately fail due only to lack of ability and not lack of dedication.
How hard is financial accounting 1? ›
Generally speaking, accounting is overall a difficult major, but financial accounting is a very straightforward class in the beginning. Financial accounting class teaches you the fundamentals of accounting. It's the ground-up class where you learn balance sheets, income statements, and cash flow.
What is the easiest accounting class? ›
Intermediate accounting is a course that is at the professional core level and has many reviews for being one of the easiest accounting courses. Accounting majors must take intermediate accounting I and II. Some students find that Intermediate Accounting II is easier after taking Intermediate Accounting I.
