Fau Accounting Competency Exam Study Guide
General Information. All students must pass a competency exam prior to enrolling in ACC 400 and ACC 405. Students must pass the exam within seven months prior to the beginning of their ACC 400 class.
The competency exam will cover basic knowledge that students are expected to retain from ACC 201. A Practice Exam is available. Students are limited to three. Students desiring to register for ACG 3131 (Intermediate Accounting Theory 1), ACG. Practice) must complete the School of Accounting Competency Exam and.
The competency exam will cover basic knowledge that students are expected to retain from ACC 201. A Practice Exam is available. Students are limited to three attempts. To enroll in ACC 400 and ACC 405 a student must have a B- or better in ACC 201 and ACC 202, be admitted to a major and have successfully completed the competency exam. Permission to enroll in ACC 400 will be administered by the Department of Accounting. The competency exam will be given several times during the year.
The exam has 10-15 multiple choice questions and one accounting cycle problem. You are allowed three hours to take the exam. You must arrive at least 15 minutes prior to the exam start time to check in for the exam. You are required to present a photo ID (UNLV Student ID, DMV-issued ID, Military ID, or Passport) when you sign in.
Scantrons and calculators will be provided. Except for pre-approved accommodation through the Disability Resource Center, you must use the provided calculator.
For the competency exam. You may only register for one exam date.
If you register for more than one exam date you will be assigned to the earliest exam date. If you need to repeat an exam, you may register for another exam after you are notified of your grade. If you register for an exam and do not attend the exam sitting and do not cancel at least 24 hours prior to the scheduled exam you may not be allowed to take the exam the next time it is offered. Practice Exam.
If you have questions after reading the entire list of FAQs, please. What is the purpose of having an accounting Competency Exam? The competency exam provides a way for students to demonstrate their understanding of the prerequisite knowledge necessary to succeed in the upper-division accounting courses. The goal is to make sure students are prepared to succeed.
When can I sit for the Competency Exam? You may sit for the competency exam when you feel that you are prepared to pass the exam. Note that you must pass the exam within SEVEN MONTHS prior to the beginning of your ACC 400 class. Once I pass the exam, what do I need to do?
The Department of Accounting maintains a list of people who have passed the competency exam. Those who pass the exam and meet the additional requirements will be eligible to enroll in ACC 400 and ACC 405.
If the registration system (MyUNLV) recognizes that you meet the other requirements (admission to a major and satisfactory grades in ACC 201 and ACC 202), you will be allowed to enroll. If you are not able to enroll, please contact the Lee Business School Undergraduate Advising Office. Is passing the Competency Exam alone enough to register for ACC 400 and ACC 405? In order to register for ACC 400 and/or ACC 405, you must:. Have earned a B- or better in both ACC 201 and ACC 202. Be admitted to a major.
Have successfully completed the competency exam. What can I do to prepare for the exam? The exam consists of 10-15 multiple choice questions (covering prerequisite accounting knowledge included ACC 201) and one accounting cycle problem. If you have mastered the material presented in ACC 201, you should feel confident about your ability to pass the competency exam.
We recommend that you complete the and review your ACC 201 textbooks and notes. If you are uncertain about your mastery of the prerequisite topics, you may want to consider re-taking ACC 201. Taking some time now to prepare is an investment in your future academic and professional careers. Can I get a waiver of the exam? We do not offer waivers or exemptions from the competency exam. If you performed very well in ACC 201 and understand the prerequisite material, you should feel confident in your ability to pass the competency exam.
Fau Accounting Competency Test
How often is the exam offered? The Department of Accounting will offer the competency exam several times each year, including at least twice in the Fall semester, twice in the Spring semester and at least once during the summer. The testing dates can be found above. Please note that we are unable to schedule fall and spring exams until about one month after the start of each semester. If future dates are unavailable, please check back. How much does the exam cost? The competency exam is offered free of charge.
Does the exam change each time? The questions on the exam will differ each time, but the subject matter remains the same. How long is the exam?
How long do I have to complete it? The exam is comprised of four parts: 1.) Journal Entries; 2.) Financial Statements and the Closing Process; 3.) 15 multiple choice problems; and 4.) an ungraded Business Writing Assessment.
You are permitted up to 2.5 hours to complete the exam. What do I need to bring to the exam? You must have a valid photo ID (driver's license, passport, student ID, military ID).
Accounting Competency Exam Practice
Scantrons and calculators will be provided. You may not use anything else (e.g., cell phones, notes, textbooks) for the exam. You should bring a #2 pencil with an eraser and you may bring a beverage in a clear bottle without a label.
You will be required to place all personal items, including hats, on the floor beneath you. How many times can I take the Competency Exam? Students are limited to three attempts; however, if you do not pass the first time, we encourage you to prepare and try again. If I do not pass the exam, are there any upper-division accounting classes that I may take? Yes, if you have earned a minimum of B- in ACC 201 and ACC 202, you may enroll in ACC 473 (Law for Accountants I) without passing the exam. Can I share information about the exam or ask others about its content?
If you want to know what material is most likely to appear on the competency exam, please review the Practice Exam. It is a violation of the Department of Accounting Academic Integrity Policy to seek or share specific information about the exam format or content. What if I am registered with the DRC for special testing accommodations? Students who require special accommodations must provide DRC documentation to the Department of Accounting (BEH 415) at least two weeks prior to the exam date.
Just like everyone else said! The exam is easy but you can lose a lot of points for easy mistakes. I just took it and got an A- here's what you'll want to do: the practice exam is almost exactly the same thing. Do it as many times as you can until you feel 100% comfortable with it. The exam will be taken in 3 parts, and you have 3 hours to complete it.
I finished mine in an hour. Only 15 questions are multiple choice. The rest is using T accounts to create journal entries and to put those entries into a balace sheet, income statement, and cash flow statement. All of that is in the practice exam! Also, they only test you on ACC201, Chapters 1-4. But make sure you know how to close accounts because 201 doesn't go into too much detail with that. Study the terms if you can so you can be prepared for the multiple choice.
Let me know if you have any other questions! Sorry if that was all over the place. I'm also an accounting major so welcome!:).