Hey there, fellow students! welcome to our study guide for completing the Accounting for Decision Makers – WGU C213 OA course at WGU. We are here to help you ease your way through both the Pre-Assessment and the Objective Assessment of the course. Our mission? To hook you up with all the tools and smarts you need to ace this course. Let’s dive in!
In this guide we will go through below topics one by one.
- Course Overview and Expectations
- A Detailed Study Plan
- Key Concepts Overview for WGU C213
- Extra Resources for Success
- Insights and Tips from Past Students
So, without further delay, let’s jump right in and set you on the path to success!
In this guide we will go through below topics one by one.
So, without further delay, let’s jump right in and set you on the path to success!...
WGU C213 OA Course Overview And Expectations 📖
Today we’re diving into the world of Accounting for Decision Makers WGU C213. This module is designed with one goal in mind: to help you gain the knowledge and vital skills to understand accounting, for assessing and managing a business effectively. Throughout the journey of C213, you will explore key topics such as:
- Accounting cycle
- Financial statements
- Taxes
- Budgeting
And much more…
This course will also equip you with practical skills you require in the field of accounting as well. Once you complete the module, you’ll have the skills to read and understand financial reports, leverage accounting information, and make strategic business decisions . So buckle up, because in Accounting for Decision Makers WGU C213, you’re not just learning numbers; you’re learning the language of business.
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Course Content Of WGU C213 OA📝
Here’s a breakdown of the 5 competencies you will go through on Accounting for Decision Makers WGU C213 :
- Financial Analysis
- Controls and Regulations
- Cost Systems
- Profit Planning
- Budgeting
Your ultimate guide through this journey will be the eBook “Accounting for MBAs” (2nd ed.) by Stice, K., & Stice, J. (2017). This valuable resource will assist you as your roadmap to mastering each competency and overcome the pre-A and the OA.
The assessments of the module (both pre-A and the OA) will consist of MCQ questions. And both theory knowledge and practical application, including calculations will be tested during the assessments.
Allocated time for each assessment : 3 Hours
Number of questions : 70
Marks needed to pass the exam : 70% or more
To attempt the math questions on the assessments, you are required to use a calculator. According to the course guidelines, any basic calculator is approved to be used for the computations. However, WGU recommends that the students use the Texas Instruments BA-II Plus calculator for the assessments.
Study Plan To Prepare Yourself For The Accounting For Decision Makers WGU C213 OA 👨🏻🎓
Drawing from the experiences of former students, we’ve made a step-by-step study plan to help you tackle the final OA. Take your time with each step, make sure to closely follow the guidelines provided. Also, feel free to customize the instructions to align with your individual preferences and learning style.
Step 1
Just like any other module, the first step in tackling this course is to thoroughly review the provided course material. WGU’s eBook for this module contains all the necessary information you need to grasp the topics covered in the Objective Assessment (OA). It’s important to note that the questions in the OA are often similar to those found in the course material and the pre-assessment. While going through the eBook, we recommend following these instructions:
- Dive into each chapter of the eBook and grasp the key concepts. Take notes and highlight important information for later review.
- Avoid overwhelming yourself by trying to memorize every detail. Instead, focus on mastering the competencies.
- Utilize videos on major topics to better understand complex calculations.
- Solidify your understanding by completing all quizzes provided in the eBook. Quizlets are particularly useful for reinforcing knowledge.
- Remember, you don’t need to memorize formulas as they will be provided in both the OA and Pre-A.”
Step 2
After reviewing the eBook, you’ll be well-prepared to tackle additional quizzes focusing on calculations relevant to the module. These quizzes can be accessed in the “Course Search” section under “Course Tips” on the Accounting for Decision Makers WGU C213 homepage. We strongly advise attending live cohorts with instructors to attempt these calculation quizzes in real-time and gain a deeper understanding of how to approach each math problem. Also there are additional video recordings available in the course material where the instructors discuss more quizzes. In any situation where you are unable to find the solution for any calculation, do not hesitate to contact your instructor to get a helping hand to guide you. Also keep in mind that you do not have to memorize all the formulas in this module, as all the formulas will be provided to you in the exams.
Step 3
Once you feel confident with the key concepts and calculations, it’s time to tackle the Pre-Assessment (Pre-A) for the Accounting for Decision Makers WGU C213 module. Review your concise notes from Step 1 one more time before attempting the Pre-A. Remember to utilize your calculator during calculations to reduce the risk of errors that may occur when solving them manually. Take your time and approach the Pre-A as if it were the actual exam, avoiding the temptation to rush through the questions. You’ll have 3 hours to complete the Pre-A, so use this time wisely to demonstrate your understanding and proficiency.
Step 4
As soon as the Pre Assessment is completed, we advise you to go through the coaching notes while the questions and the answers are fresh in your mind. This will assist you to clearly visualize the weak points in your knowledge and improve on them. If you’ve achieved the necessary passing score on the Pre-A, you’re now competent to face the OA. We advise refreshing your understanding using the coaching guide provided with the Pre-A and scheduling your OA promptly.
However, if you haven’t obtained the required score to pass the Pre-A, don’t worry. You’ll need to revisit the course material once more. Instead of going through tthe entire eBook, use the coaching guide generated from your attempted Pre-A to pinpoint the specific topics you need to focus on. Refer back to the short notes you took in Step 1 and reassess these areas. Also we recommend you schedule a one to one session with your instructor to assist you through topics that you are struggling with. Once you’ve revisited and strengthened your understanding of the necessary topics, attempt the Pre-A again. This iterative process will help solidify your knowledge and improve your chances of success on the OA.
Step 5
Now that you’ve successfully completed the Pre-Assessment (Pre-A), it’s time to take on the final challenge: the Objective Assessment (OA) for Accounting for Decision Makers WGU C213. Take a moment to breathe, gather your stuff, and dive right into the exam. Since this one’s proctored, make sure you’ve got a solid internet connection, a working mic, and a webcam ready to roll. Find yourself a cozy, distraction-free spot to settle in. Read the instructions carefully and get cozy with the assessment guidelines. Take your time, especially on those number-crunching questions, and tackle each one like a pro. With prep and focus, you’re all set to crush the OA and show off your mastery of the course material!
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Key Concepts Overview For WGU C213 🔑
DC ADE LER
| DEBIT | CREDIT |
|---|---|
|
ASSETS
|
LIABILITY |
|
DRAW |
EQUITY |
|
EXPENSES |
REVENUE
|
This is a convenient formula used to organize important financial documents like Income Statements, Balance Sheets, and T-accounts. Take a look at the table above to see how it works. Notice the highlighted letters in each word? They make up the formula DC ADE LER. This little trick can really help you understand those important financial statements better. So, the next time you’re dealing with financial data, remember this formula for an easier analysis.
Let’s discuss the meaning of below terminologies..
| Term | Description | Example |
|---|---|---|
|
Debit
|
An entry made on the left side of an account ledger to record the increase in assets or expenses or the decrease in liabilities or revenue.
|
Income
|
|
Credit |
An entry made on the right side of an account ledger to record the increase in liabilities or revenue or the decrease in assets or expenses.
|
Expenses |
|
Assets |
Resources owned by a person or organization that have economic value and can be used to generate future benefits.
|
Cash
Equipment
Buildings
|
|
Draw |
Funds taken out of a business by its owner for personal use, separate from regular business expenses or investments.
|
Distribution
Dividend
|
|
Expenses
|
Costs incurred by a person or company in order to generate revenue or operate a business.
|
Rent
Utilities
|
|
Liability
|
A debt or obligation owed by a person or organization to others, typically arising from borrowing money or providing goods or services on credit.
|
Accounts Payable
|
|
Equity
|
The owner’s stake in a business, calculated by subtracting liabilities from assets. It reflects the portion of the business’s value that belongs to the owner(s).
|
Retained Earnings
|
|
Revenue
|
Income generated by a person or company from the sale of goods or services, representing the total earnings before expenses are deducted.
|
Sales
Services
|
Remember the ADE LER rule: facts are generally positive unless something special occurs. For instance, if an asset’s value turns negative, it becomes a Credit. Otherwise, it stays in the Debit category
Balance Sheet
Imagine the balance sheet as a snapshot of your company’s wallet at a particular moment, like freezing your finances in time. You’ll see three main parts: assets, liabilities, and equity. Assets are what you own, like cash or property. Liabilities are what you owe, such as loans or bills. Equity shows how much you truly own. The balance sheet follows a simple rule:
Assets = Liabilities + Equity
This formula ensures everything you have is paid for by either borrowing or your investment. Studying a balance sheet helps you and your lenders gauge how financially stable and healthy your company is.
Income Statement
Income statement is also known as the profit and loss statement. This document tells you how well your company performed financially over a specific period of time. It clearly shows you if your company has made money or lost money. The math is straightforward:
Revenues – Expenses = Net Income
Revenues come from sales or fees, while expenses cover things like salaries or rent. Investors and analysts peek at the income statement to assess the health of your company’s wallet.
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External Resources For Accounting For Decision Makers WGU C213 OA📂
If you’re finding the course content challenging and need extra study materials, we highly recommend checking out the YouTube video playlist by CPA Strength. With over 100 videos available, this playlist covers a wide range of topics, allowing you to review any concepts you find difficult at your own pace. – CPA Strength
Also you can find videos of students who has already taken the exam and documented their experience in Youtube. These videos can help you get first hand information from the students themselves. We have listed two such videos below. – Video 1 | Video 2
We have also found some Flash Cards relevant to your studies that will help you retain your knowledge on each topic you have gone through. We recommend you go through these Flash cards before attempting your OA. – Flash Cards
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Insights And Tips From Past Students👨🏻🎓
- I have gone over the entire text & taken my own notes from the topics. I am now starting to review all the material and using the study guide to help me.
- Questions from the course material are very similar to the questions on the pre-assessment and the objective assessment as well.
- You do not have to memorize the formulas. Formulas will be given in the OA and Pre-A (there was a side bar where formulas were on display while attempting the exams)
- Watch the videos available on the major topics to understand the calculations
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Conclusion 📄
In Accounting for Decision Makers, WGU C213, you’ll have to deal with a lot of calculations, which might feel a bit intimidating. But don’t worry, we are here to give you all the tips and tricks! We’ve collected all the resources you need to ace the exam. Remember what B.B. King said: ‘Learning is a gift that lasts a lifetime.’ So, keep going! With a positive attitude and a little effort, you’ll breeze through any challenges and reach your goals in no time.”
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