Students often ask me on how they can prepare for the new school year during the summer? Although I'm always tempted to provide them a list of subjects to go over during July and August, the reality is that it's important to be relaxed and refreshed before classes begin in the fall. You want to make sure that you have a fresh head and aren't overworked before the real work comes in. So.... enjoy the pools, beach, camping, and anything else that you love to do! Get your mind off from studying and you'll see how much better you'll do in school come September.
BUT, if you are really antsy, and would like to go over some topics to be extra prepared (maybe while sitting by the pool?), I suggest the following:
- Get a good grasp of how basic debits and credits work. Which accounts increase? Which accounts decrease?
- Journal Entries. Yes, you can't escape those in accounting.
- Balance Sheets and Income Statements. What do they mean? How do journal entries affect them?
- Ratios. Okay, look at this one only if you're very keen!
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