Study Groups and LIFO

Ready for another accounting post??

The May-mester ends tomorrow!  Leaving the business building tonight, I realized this was my last-ever study session with Shelby.  And that is really sad :(  Luckily I still have Brad, but it's sad to see another one go!

Anyways, this post is about how awesome study groups are.  I've decided that while they might not always be the most efficient way to study, it is my most recommended method.  It really immerses you in your major, because you get to know the people in your classes and you become great friends.  That encourages you to go to class and study more.  (Disclaimer...this method does not guarantee that you will pay attention in class or focus 100% during study groups.)

Over the last few semesters as my accounting classes I have gotten harder, I have spent countless hours at the library and the business building with study groups. We've learned, we've laughed, we've stressed, we've complained...and we've pretty much become best friends.

Probably the best result of one of our marathon study sessions was when Shelby convinced Jonny and I that it would be a great idea to enter the E-Week Lemonade Stand competition.  This was after hours and hours (and let's be honest...probably days) of trying to consolidate financial statements.  So, clearly, we decided this would be a great idea.

Not all great decisions are made at 11:00 PM, but it turns out that this one actually was.  I had so much fun just hanging out with these two great people, just trying to sell some lemonade.

One of my best college experiences!

And yes, we do represent accounting well.

[Explanation:  LIFO is an inventory accounting method.  You count inventory Last In First Out.]

These guys have been such great friends to me.  I'm so proud of them, as they both just graduated and have internships at the State Auditor's Office.

Now I just need to make it through one more class, and one more semester!

Also, after three years of school, you can't convince me that accountants are the most boring people.  I have yet to be at a study group with a bunch of accounting majors that I have left feeling bored out of my mind.  I've left stressed, but usually, I've had a pretty great time!  They are a fun and funny bunch.  This has been the video of the May-mester.  Enjoy.

A Day in the Life of an Accounting Student

Don't get me wrong.  I love being an accounting student.  Especially on days like today.  Here are two fine examples of why accounting class can be awesome.  

We play Two Truths and A Lie to break up the two hour long class, and vote on which we think is the lie.  

"I don't want to be an accountant."  

Everyone accepts this as truth...who wants to be an accountant??

"I love accounting."

Everyone raises their hand, obviously, this is the lie.  

Anyways, I thought it was hilarious.  

But class only got better from there.  We had a guest speaker in class today.  It was our teacher's younger brother who works as an auditor in Texas.  Young guy, cute, etc.  He gets up and begins his presentation, talks a bit about what he does, tells us about his background.  He tells us to feel free asking him any questions.  Out of the corner of my eye, I see Shelby smile, pull out her phone, and I receive this text.  

"Do you have a girlfriend?"  

Probably one of my finest moments of self-control.  It took everything I had to stop from bursting out laughing.  Words cannot describe how hilarious Shelby Murray is.  I wish that everyone could spend a day with this girl, because she keeps me so entertained.  I don't know what I'm gonna do without her!

Campus Life

Leaving campus last night, Shelby and I were discussing how while our class consumes our lives, we love the feeling of productivity it brings.  We have been spending more time on campus studying for this class that we do when we are taking 5 classes during the regular semester.  Honestly, it's not the most fun thing to do.  But at least it brings a feeling of accomplishment.

So, while we're walking out of the business building, we see this person creeping behind this tree.  We walk past them, feeling kind of nervous, and notice another person crouching on the ground next to them.

Okayyy...could they be acting any creepier??  We burst out laughing, and just keep walking to the parking lot.

We subsequently found out that some people were playing night games on campus, felt significantly less concerned about the sketchy activity, went and bought some frozen dinners, and went to bed.

Sadly, we're kinda missing the fun part of campus life.  But hey, at least we're learning how to audit.  

May-mester

HOLY. COW.

Summer classes are a blessing and a curse.  It's so nice that I'm getting a whole semester, 15-week audit class finished in only four weeks.  But it's rough, because I'm getting a whole semester, 15-week audit class finished in only four weeks.

There is no room to breathe in this class.  Class is for two hours a day, five days a week, with one test every week.  The pace is one chapter a day.  Last week, we studied our two hours per day, ended up memorizing all of the wrong things, and basically failing the test.

And there's no time to recoup.  We've upped our studying plan, and have started studying for three to four hours each night.  It is exhausting!  During the regular semester, you generally have at least a day between each class session.  Not the case in May-mester.  You've got to be on top of it each and every day, or you're missing assignments, and falling behind so quickly that there is no hope of catching up.

But here's the good thing.  I'm taking the class with two of my favorite people--Brad and Shelby.  Probably some of the best friends I have made at Utah State are my awesome accounting friends.  Believe it, accounting majors are the best!

We study outside, because school or not...we like to celebrate summertime.

So even though this May-mester class is kind of the worst, it's totally worth it.  I get to spend countless hours with my friends, and I only have to learn about audit for four weeks!  

92

The week before an accounting test is filled with accounting study groups, reading over notes, working out problems, carrying a giant textbook around campus, and stressing.

Really...the textbook is HUGE.  

When the day of the test arrives, I've usually reached the point where I feel I cannot be any more prepared.  Yes, I might have all day to continue studying, as the tests are taken at 4:30 p.m. (which is awful, by the way), but I feel like if I don't know it by the day of the test, I'm probably not going to know it by the test.

So come last Thursday, I was done studying for my accounting test.  And I was scared.  The test covered pensions, leases, errors, and changes in accounting principal.  There were so many slight details that change they way a problem is worked and how things are classified.  I was so overwhelmed, and thought for sure all of these things would catch me on the test.

I sped through the test.  I'm not one to carefully go back over the test and look for mistakes, or try to figure out how to do problems.  If I don't know how to do it the first time, my assumption is I'm probably not going to have an accounting epiphany halfway through the test.  I was the first one finished (yes!), and left not sure what to think of the test.  I was thinking I'd be lucky and happy to get an 80.

Winning.  At finishing first, not accounting. 

So, when I got my test score, I was stunned.  A 92??  The first thought that crossed my mind was...maybe he typed in the wrong score.  My next thought was...geez, he must have had to curve this test pretty hard.  There was no way I did that well on the test.  I mean, I know I didn't fail it, but I didn't think I got in the 90s...

Minus the +, add the -.  But hey, it's an A.

I was  talking to my friend Jonny, and he did even better than that.  We were both so shocked that we still haven't really started to rejoice in how great we did.

Now...I'm sitting in accounting class writing this blog post with my test in front of me.  Turns out...

We are just that good at accounting.

#accountinglounge

A Tutor or a Therapist

Sometimes, homework is just so dang hard.  Actually, it's usually only hard if you don't quite know how to do it.  Tonight, and pretty much a lot of this weekend, I've spent time just sitting and staring at my excel sheet for my cost accounting class.  No matter what I do, it just doesn't seem right...not that I would know what actually seems right.  The more I try, the more answers I get, and the more confused I become.

It's overwhelming.

Like overwhelming to the point where my brain isn't even processing any it, and even the problems that I thought I had a handle on are becoming twisted in my head.  Nothing makes any sense.  Until it makes perfect sense, and then all of the stress just disappears and once again I love accounting.

So...I feel like a tutor would be helpful.  But I feel like at this point, I would probably just have a complete melt down so maybe I should just go to therapy, because all I can right now is freak out about how I can't do accounting.  

Meeting the Firms

In the past, I've kind of passed up the opportunity to go to accounting events.  Partly because they intimidate me, and I don't feel old enough to be considering a career, but mostly because I thought they just really interfered with my social life...  Anyways, this year I made the decision to incorporate accounting into my social life so I can better prepare for life after graduation.

Tonight was "Meet the Firms" night.  The accounting staff at USU kind of stressed us out a bit about this one.  They were very specific about us needing to dress nicely, be professional, network, and get internships.  

Naturally, I wasn't going to go to this event by myself.  I feel like we've got a little accounting gang going on, and it's great.  

Don't we all look sharp?
Also, I should probably work on standing closer to people when taking pictures.

I'm really glad that I went to this event.  It was neat to meet professionals from so many different firms, and to talk to them about their jobs and their companies.  I talked with some companies that I hadn't heard of before, and found a few that sound very interesting to me.  I gained more knowledge of what is out there and what I want.

Oh, I also gained a whole lot of what my accounting professor calls swag.  

Oh yeah.  It doesn't get much cooler than this.  

MAcc, CPA, CMA, CFA, CFP. What?

I don't know what I'm doing with my life.  I keep going to all of these accounting meetings, and after each one I walk out even more confused.  I am graduating with a degree in accounting and finance in less than a year, and I don't even know what accountants do.  I can sit in my accounting class and learn, go to the library and do my accounting homework, and pass my accounting tests.  It's not always easy, but I can do it.  But I have no idea what an accountant with an actual accounting job does.  

All of the accounting professors say I need to be doing internships.  I need to be in all of these clubs, I need to be networking, meeting people in all these different firms.  I need to get my Master's degree.  There is so much stuff that I am not doing, and have actually never even thought about.  

How am I supposed to go and talk to all of these people when I don't even know what an accountant does? How am I supposed to know if I even like what accountants do?  I really enjoy all of my accounting classes, but how do I find a job where I will be doing the parts of accounting that I like?  

I thought I was pretty dang cool to almost have a degree in both Accounting and Finance in less than a year, but now, I'm thinking I'm pretty dang clueless what I can even do with those.  Now I feel this desperate need to get every possible certification possible, just to cover all of my bases.  

At least that way I will probably never have to actually start working...