1. Embrace the Challenge

• Accounting can feel overwhelming at first, but push through the initial struggle—it gets easier.

• Expect moments of frustration, but consistency and practice will pay off.

• Treat it like jumping into a cold pool—tough at first, but manageable once you're in.

• It’s tough, but quizzing yourself and studying consistently will get you through!

2. Understand the Course Layout

• Watch videos (featuring the Hawaiian Shirt Guy)—20 hours of content available, best watched at 1.5x or 2x speed, or read the text.

• Focus on the Three Key Financial Statements:

  • Balance Sheet

  • Income Statement

  • Cash Flow Statement

• Use end-of-chapter quizzes to reinforce learning—quiz yourself nonstop!

3. Take the Pre-Assessment (PA) Early & Strategically

• Use the PA as a diagnostic tool, not just a memorization exercise.

• Identify weak areas and schedule time with an instructor to review them.

• There are a few questions that are on the OA, mastering the concepts is key.

4. Master the High-Yield Topics

• Financial Statements: Structure, purpose, and interconnections.

• Accounting Equations: Assets = Liabilities + Equity.

• Cash Flow Categories: Operating, Investing, and Financing.

• Depreciation & Cost Concepts: Fixed vs. variable costs, CVP analysis.

• Use the Formula Reference Sheet available in both PA & OA—get familiar with it.

5. Master the Math

• Expect break-even analysis, depreciation, and ratio calculations.

• The formulas are on the pre-assessment and objective assessment, in the additional resources section you can download the formulas. It helps to study with the formulas open to you can use that as a memorization guide.

• Anytime you see the word ratio and a question check the formula page. If a ratio is not on the formula page do not worry about it on the objective assessment (my mentors advice).

• Use the whiteboard during the OA to organize numbers and avoid simple errors.

• Watch the Grid System Video in additional resources—it simplifies cash budgeting problems.

6. Leverage Key Study Resources

Quizlet & Practice Problems

• I didn’t use Quizlets for this course but there are plentyof options.

External Resources

• LinkedIn Learning Path: Finance and Accounting Basics

• Udemy: The Complete Financial Analyst Course

• Ron Daniel's Finance Bootcamp Session 1 especially

• 7. Test-Taking Strategy

• When you pass the pre-assessment and you feel good with the topic quizzes schedule your objective assessment.

• PA & OA are not similar—Only a handful of questions were identical. Learn the concepts!

• Use the Sidebar Formula Sheet frequently. My sidebar disappeared every once in a while.

• Use the whiteboard to jot down key terms, formulas, and eliminate incorrect choices.

8. Stay Consistent & Avoid Burnout

• Set daily study goals (1–2 chapters/day).

• Take breaks, especially if pairing C213 with C214.

• Quiz yourself relentlessly—retrieval practice helps memory retention.

9. Essential Exam-Day Tips

• Proctoring Rules:

  • No reading questions aloud.

  • Basic calculators allowed (no phone calculators).

  • Remove paper inserts from BA II Plus calculators.

• Bring Extra Dry Erase Markers (some students use different colors for cash budgeting problems).

• Have an eraser ready (toilet paper works in a pinch!).

10. If You Fail, Use the Study Plan Wisely

• You’ll receive a personalized study plan highlighting weak areas.

• Meet with an instructor to review incorrect PA answers.

• Be prepared to retake the PA before attempting the OA again.

Final Thoughts: You Can Do This!

• Accounting is logical—once you understand the concepts, you can work through almost any question.

• Expect layered learning—each concept builds on the last, like peeling an onion.

• It’s tough, but quizzing yourself and studying consistently will get you through!

• Stay motivated—this knowledge is valuable for both business and personal finance.

Sources: Compiled and condensed insights from 29 pages of community tips into this study guide.