5 years since school

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  • March 16, 2021 at 6:51 am #3263337
    bwknight
    Participant

    I graduated with my MACC in 2016. I found a job in school that has very nothing to do with accounting.

    I’m looking to move to another position within the company. I still have access to Gleim from school.

    I graduated with a 3.7 undergrad and a 3.5 as a grad student and I don’t remember anything. I was looking thru Gleim and the video mentioned effective interest rate and I thought about how I haven’t heard that term in years. I don’t remember the last time I balanced a balance sheet or what an income statement looks like.

    I remember Assets = Liabilities plus Equity and that’s about it. I guess I’m exaggerating a little bit, but it’s how I feel when I try to recall.

    Should I break out the old test books and start there? Or does review courses like Gleim (and supplementals like Ninja) help to re-learn things that haven’t been buried underneath other stuff like how many points Steph Curry has scored this season. (I know that lol).

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  • March 16, 2021 at 3:38 pm #3263661
    CPA1219
    Participant

    Older textbooks are helpful, but accounting standards are in a state of perpetual change, so some of the information would likely be outdated. If Financial Accounting and GAAP is where you want to brush up, I'd recommend buying/renting a current Intermediate Accounting Textbook. The info in an intermediate book is comprehensive and walks you through the conceptual framework, financial statements, recording of financial information, all the way to other complex accounting and reporting topics. Another option is purchasing a subscription to an Intermediate Accounting program via Coursera and going through the lectures. Principals of accounting books/lectures could be helpful, but would probably do you a disservice since you actually took the time to obtain a MAcc. You spent a lot of money on the education, so you should definitely re-acquire it.

    March 16, 2021 at 6:13 pm #3263760
    AGI
    Participant

    It depends what position you looking for, nowadays many companies use bookkeeping systems, and you barely have to know anything to start with. I would recommend you read through the basics, enough to get you through an interview, and then learn hands-on from the job.

    New York - NYC
    Passed CPA Exam (11/2014)
    In search for a position in NYC that will fulfills the license requirement.

    March 23, 2021 at 3:32 pm #3270317
    Recked
    Participant

    If you're going for the CPA exam, the review course you choose should have all the information to get you up to speed and able to pass the test.
    I was out of school for 15 years and never had to go back to text books.
    The review course will have it all, and a lot of it is still in your brain, you just need to dredge it up to the top.

    If you aren't going for the CPA exam, and just want to freshen up before you start trying to move positions, then old textbooks could be a useful resource.

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