What This Document Is
This is a study guide designed to prepare students enrolled in Georgia State University’s Principles of Accounting (ACCT 2101) for their first midterm exam in Fall 2018. It outlines the exam’s format, permitted materials, and prohibited items, as well as the specific accounting concepts and skills that will be assessed.
Why This Document Matters
This study guide is essential for any student taking ACCT 2101. It clarifies exactly what will be on the midterm, helping students focus their study efforts. Understanding the exam rules – regarding calculators, materials, and conduct – is crucial to avoid penalties or a failing grade. It’s best used in conjunction with course notes, textbooks, and other learning resources.
Common Limitations or Challenges
This document is a guide, not a replacement for comprehensive study. It identifies *what* will be tested, but doesn’t *teach* the material. Students still need to understand the underlying accounting principles and practice applying them. This preview only covers a portion of the full guide.
What This Document Provides
The full study guide details:
* The exam format (multiple choice, point values, scoring).
* Specific rules regarding acceptable calculators and prohibited materials.
* A list of skills students should master for Chapter 1, covering business organization types (sole proprietorship, partnership, corporation) and their advantages/disadvantages.
* Definitions and identification of internal and external users of financial information.
* The accounting equation (Assets = Liabilities + Stockholders’ Equity) and its components.
* Classification of business activities as operating, investing, or financing.
* How to calculate components of key financial statements (income statement, retained earnings statement, balance sheet) and their interrelationships.
* Information about exam logistics (time limit, ID requirement, scantron form).
This preview does *not* include detailed explanations of accounting concepts, practice problems, or the full list of skills covered in Chapters 2-4.