FAR SIMS Journal Entries

  • Creator
    Topic
  • #203608
    rdp24
    Participant

    Does anyone know whether or not the order in which you post accounts in journal entries matters for the exam? For example:

    Dr:Cash xx

    Dr;A/D xx

    Cr:Equipment xx

    Cr:Gain on sale xx

    Vs:

    Dr:A/D xx

    Dr:Cash xx

    Cr:Gain on sale xx

    Cr:Equipment xx

    would they consider entry #2 wrong because of the order of the accounts or does it just look to see the accounts are posted + numbers are correct?

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    Replies
  • #786381
    sancasuki
    Participant

    I don't think it matters. The review courses will mark you wrong if you do stuff in a different order or don't put zeros in all the blank spaces but they are using much cheaper software than the actual CPA exam.

    #786382
    So FAR So Good
    Participant

    The difference with some of the review courses and the actual exam are that someone will actually be taking a look at the exam answers in some fashion. If you put it in the wrong order (credit first) you should be fine. Becker already takes this into account and simply gives you points if you have the items categorized correctly, regardless of order. What I did hate with Becker was how some questions required putting a zero while others were supposed to be left blank. I don't think this is something to be concerned about on the actual exam unless they explicitly state to put down zeros.

    F - 91 (6/5/2016)
    A - 7/30/2016
    R - 10/8/2016
    B - 12/10/2016

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