Thursday, March 29, 2012

Accounting Exam

On March 15th I had my written Accounting Exam. It actually felt way easier than I was expecting it. There were a couple of things missing that were part of the test exams we had done during class. So by the time the written exam was over it was pretty confident that I had passed and was actually hoping that I would have passed with a B. But I knew that I wouldn't find out till March 22.
On March 22nd I got the chance to look at my written exam. I knew already 1 hour earlier that I had passed the written exam, but only with a D. I was really interested to see what I had done wrong. Turns out that I did way better in the second part of the written exam, especially when it came to penalty points. The first part of the written exam wasn't because of actual mistakes. It was just bad because there were quite a number of formal mistakes. For the exam it means, that if you make a formal mistake you loose at least 4 points regardless if the result is right or wrong.
When I calculated all the actual errors it turns out that it would have been a B. OK, I wasn't particularly happy about the D, but that's something I can live with. It just shows that I did understand the material and I know how to do it...and that's really what I cared about.
An March 29th was my vocal Accounting Exam. I spent the time between the written and the vocal exam to study accounting like crazy. That was quite some learning Marathon. I managed to go through the entire 50 question of the vocal exam 3 times and paid special attention to those questions that are either difficult or that I knew I had troubles with. By the time I was done learning I was confident, that I should be able to pass that exam.
When I walked into the room with the exam commission I was actually pretty relaxed. Then when you finally get your first question I got a little nervous. Turns out that I got actually a very easy question. It was one of those were you can talk a lot, explain lots of things, the theory of that question is not really complicated and you don't need an accounting formula for your answer.
The question I got was: "Supplies and Supply Application Accounting (Vorrats- und Einsatzbuchungen)".
I told them everything they wanted to know and they didn't ask me any additional question. The certainly gave me a boost of confidence.
The second question I got was one of those where you don't get around the accounting formulas. When learning I had quite some issues with that particular question. Turns out I must have done a very good job learning, as the answer to that question was actually quite easy for me.
The question I got was: "Income Tax, Company Tax and Capital Gains Tax including the appropriate Accounting Technique (KEST, EST, KOEST inkl. Buchungstechnik)".
Again my answer was more than sufficient. The only thing I forgot was the final accounting formula. When asked I provided it and with that I was done.
I have passed the vocal accounting exam with an A. What gives me a final passing grade of a C. Would have loved to pass with a B, but I'm very happy with the result. After all a passing grade is all that counts!

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