PCM Studies
I’ve been studying the accounting equations for weeks now and cannot get any of them to stick, I find them easy to confuse, forget — the “total” the “net” they all sound the same. While I can understand and memorize everything else necessary for this exam, Im at a total loss with this gibberish. Has anyone had this problem? Does anyone have any recommendations to absorb this stuff?
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Hi Kim! I would suggest the "Pretty Good Architecture Firm" pdf. It really helped me understand all the finances. If you need it I tried to upload a link to it here: https://www.dropbox.com/s/oy8wbg9uzpo9dre/FINANCES%20Pretty%20Good%20Architectural%20Firm.pdf?dl=0
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Hi Kim,
When I studied for PcM, I also had difficulty in studying the financial equations and terminology (even after asking my mother, who is an accountant, things took a while to stick). I find that if you take time to study the project budget tables in the AHPP book (especially the Mattox format tables and balance sheets), you'll start to see where the equations come from. See if you can figure out why the numbers in those tables are the way they are. Understanding how and why is gonna help you memorize the equations.
It also helps to do practice problems that require talk about the finances so that you see how the terms and equations relate to realistic applications. I tried to do as much practice questions with the equations that I could find. You may also want to consider looking up videos explaining these financial stuff; perhaps someone else has a better way of explaining the financial equations and vocabulary in a way that you understand.
Hope this helps; best of luck!
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Hi Kimberly! I definitely had issues with the financial equations so here's a video I created that may help. I found repetion key. Hope this helps in addition to all the great tips mentioned in previous replies!
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