Hello there fellow WGU Night Owls….. Welcome to our article on the “Intermediate Accounting II WGU D104 ” where we discuss and provide you with the information you need to ace this module with ease. If you are just starting the module and do not know where to start, or if you are going to sit for the OA and don’t feel well prepared… you have come to the right place to help you reach your academic goal. In this article, we will be discussing below key points to give you all the information you require to pave your own path to victory.
So leave all your worries behind and let us guide you on your journey. Let’s get started!!
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What to Expect from Module WGU D104 📖
Intermediate Accounting II (D104) is a crucial course for accounting majors, being the second in a series of three comprehensive financial accounting modules. This course builds upon the foundational knowledge gained in Intermediate Accounting I, delving deeper into complex accounting topics essential for any aspiring accountant. Students will explore the intricacies of acquiring and disposing of noncurrent assets, including the various methods of depreciation, impairments, and depletion. Additionally, the course covers intangible assets, current liabilities, contingencies, long-term obligations, stockholders’ equity, and dilutive securities. A significant component of this course is the understanding and application of time value of money concepts, which are fundamental in financial decision-making.
For students, the degree program is likely to offer a strong and challenging academic program that will increase their knowledge as well as prepare them for more advanced courses and practice. During the course, there are two pre-assessments and two objective assessments; in order to pass the module, students have to pass both tests. These assessments are incorporated at appropriate points to ascertain and review students’ comprehension of the course and in preparation for the final examination. The ability to work through the course content and maintain regular study habits, as well as seeking help with any issues that may obstruct understanding, will be key.
This module will take you through the below topics.
Unit 1: Introduction
Unit 2: Acquisition and Disposition of Property, Plant, and Equipment
Module 1: Acquisition and Disposition of Property, Plant, and Equipment
Unit 3: Intangible Assets
Module 2: Intangible Assets
Unit 4: Depreciation, Impairment, and Depletion
Module 3: Depreciation, Impairment, and Depletion
Unit 5: Liabilities
Module 4: Current Liabilities
Module 5: Long-Term Liabilities
Unit 6: Stockholders Equity
Module 6: Stockholders Equity
Module 7: Dilutive Securities and Earning Per Share
As you prepare for the final exam, it is important to review all course materials thoroughly, practice problem-solving with a focus on the topics mentioned, and utilize available resources such as textbooks, online tutorials, and study groups. Remember to manage your time effectively and seek help from instructors or peers whenever needed. By maintaining a disciplined study routine and a proactive approach to learning, you will be well-equipped to excel in Intermediate Accounting II and advance in your accounting studies.
Ultimate Study Guide to Ace the OA📝
Now that you are aware of what to expect from this module, let us proceed to discuss how to tackle the course content and ace the OA in the most efficient way. With our study guide, we have eliminated the need for you to comb through all the available study resources and worry about which advice to take and what steps you need to take next. We have done all the hard work for you, and we have figured out the best study path to achieve your goals in the shortest amount of time possible. Take out your notebooks and calculators, let’s get started,
Step 1 – Go through the Textbook Unit 1, Unit 2 and Unit 3
The module Intermediate Accounting II WGU D104 is a content-heavy module where you will need to face two objective assessments in order to achieve the credits. If this sounds overwhelming, do not worry. We have broken down the study guide into two sections where we will attempt the two OAs separately instead of one after the other. So let us first focus on the first OA of D104 and prepare ourselves to face it.
To begin the studies into the course content, we will utilize the WGU-provided Textbook of D104. The Textbook is very useful in gaining our initial knowledge as it does a great job of breaking down complicated theories into manageable pieces. To find the Textbook, follow the below instructions,
- Go to the Student Portal of WGU > Log onto your student profile > Go to the “Intermediate Accounting II D104” page > Click on the “Go to course materials”
Once you begin reading the Textbook go through each Unit by adhering to the below steps.
- Read through the Unit and gain knowledge of Unit 2 and Unit 3 (Unit 1 can be skipped as it acts only as an introduction to the module)
- Take short notes on the important concepts
- Attempt the knowledge checks you might find in your studies
- Watch embedded supplemental videos on the course content
- Attempt the quizzes on each Topic
- Attempt the Unit test
Follow these steps exactly as we have outlined to utilize the Textbook to its maximum capacity. Once you acquire the knowledge on the mentioned Units, you will be equipped with the knowledge to face the first OA.
Step 2 – Watch the recorded cohorts for Unit 1, Unit 2 and Unit 3
After you have gained the initial knowledge of these Units, let us go through the recorded cohorts on these sections to deep dive into the theory. The course instructors who conduct these cohorts will analyze the core concepts and clearly explain them to help you understand the fundamentals behind them. Also, they will provide you with valuable advice on how to study for the OA as well as give you instructions on how to face the questions and techniques to tackle them. So it is mandatory to watch all the available cohorts on these Units before taking the first OA. To find the recorded cohorts,
- Go to the Student Portal of WGU > Log onto your student profile > Go to the “Intermediate Accounting II D104” page > Go to the “Course Search” section > Click on the link “D104 Course Resources Document” > Scroll down on the document until you find the topic “Practice Questions by Unit”
You can use the related PowerPoint slides to help you with going through the recordings.
Step 3 – Go through the practice questions
Once you watch all the recorded cohorts related to Unit 1,2,3, you will have complete knowledge of module D104. As we are about to face the first assessment, let us quickly go through some practice questions to revise the knowledge we have gathered so far. To do this, navigate to the same location you found the recorded cohorts in the earlier steps and find the practice questions for each recording you have watched.
Step 4 – Attempt the first Pre-A
In this step, we will attempt the Pre-A of D104. Keep in mind that this is the final preparation step before we attempt the first OA so ensure you are well-prepared. The Pre-A will help you gauge the knowledge you have gathered so far. It’s important to approach the Pre-A as if it were a real exam, allowing you to accurately assess your readiness for the OA. If you identify any gaps in your knowledge of the course content, we recommend revisiting those topics for revision before starting the Pre-A.
To begin the Pre-A, navigate to the home page of the “Intermediate Accounting II WGU D104” module and scroll down to find the link to the first Pre-Assessment. Click on the “TAKE NOW” button to initiate the Pre-A.
Once you have completed the Pre-A, a coaching report will be autogenerated in the same section on the module page. The coaching report showcases your understanding of each topic in the module. This will help you clearly identify your weak points so you can revisit these topics before moving to the final assessment. Use the short notes that you have made during your studies as well as the study guide mentioned above to revise your knowledge on these weak points.
If you have failed the Pre-Assessment in your first attempt, retake it again after revisiting your weak points. Try and achieve a score of more than 85% before moving on to the next step.
Step 5 – Sit for the first OA
You are now well-prepared to tackle the final assessment of D104. We recommend that you schedule the OA as soon as possible after completing the Pre-A. This will allow you to take the OA with the same knowledge you had when you passed the Pre-A.
Before taking the assessment, make sure that you are in a quiet and calm environment so you can focus on the assessment and nothing else. Ensure you have a stable internet connection, a webcam, and a microphone. Read through the proctoring instructions and rules carefully. And most of all, be confident in yourself… you got this!!
Step 6 – Follow the same procedure for the second OA
Now that you have successfully completed the first OA, let us continue our studies to prepare for the second OA of D104. To prepare for the second OA, follow the same procedure we have followed for the previous OA.
- Read through Units 4, Unit 5 and Unit 6
- Go through each knowledge check, quiz, Unit tests, and supplemental video in the Textbook
- Watch the recorded cohorts of Unit 4, Unit 5, and Unit 6
- Complete the practice questions related to the cohorts
- Attempt the second Pre-A and pass it with more than 85% score
- Ace the second OA
Make sure that you follow the same advice we have provided in the earlier steps when you are going through the second section of the study guide as well. By following this process, you will master the module in no time.
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Tips and Strategies to Face the OA 👨🏻🏫
Preparing for the Objective Assessments (OA) in Intermediate Accounting II requires strategic planning and a thorough understanding of key topics. Here are some tips and tricks to help you succeed:
- Manage Your Time: Ensure you allocate enough time to attempt all the questions. Time management is crucial during the OA to avoid rushing through questions and making avoidable errors. Practice with timed quizzes to improve your pacing.
- Memorize Your Ratios: Both OA tests include questions on various financial ratios. It’s essential to not only memorize these ratios but also understand the rationale behind each one. Focus on ratios such as the Acid Test, Asset Turnover, Times Interest Earned, Return on Equity (ROE), Return on Assets (ROA), Current Ratio, and Rate of Return on Assets. Each of these ratios is fundamental and likely to appear on the assessments.
- Align Study with Pre-Assessments: The first OA aligns well with the pre-assessments (PA). Use the PA to gauge your understanding and identify areas where you need more practice. Review the PA thoroughly, as it will give you a good indication of what to expect in the OA.
- Use the Multiple Choice Question (MCQ) Elimination Method: For MCQs, eliminate the clearly incorrect options first. This increases your chances of selecting the correct answer from the remaining choices. This method is particularly useful when you are unsure about an answer.
- Focus on Key Topics: Concentrate your studies on crucial topics such as liabilities, stockholders’ equity, and dilutive securities. Be well-versed in depletion, bonds, convertible bonds, notes payable, stock issuance, and warrants (both proportional and incremental methods). Understanding stock options is also critical, as many questions on the second OA cover this topic extensively.
- Know Your Depreciation Methods: Be familiar with different depreciation methods and their applications. This knowledge is essential for answering questions related to asset management and valuation.
- Segregation and Calculation of Sales Tax: Understand the principles of segregation and be able to calculate sales tax accurately. This topic is often tested and requires precise knowledge and calculation skills.
- Comprehensive Ratio Coverage: Expect at least one question on each ratio, so ensure you are comfortable with all the relevant calculations and interpretations. Reviewing past exams and practice questions can help solidify your understanding.
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External Resources to Study📂
- Supplemental videos on YouTube by Farhat Lectures – Link
- Intermediate Accounting course by Dr. Jhon Daniel Mclellan on Uedmy – Link
- Quizlets to help you prepare for the OA – Quizlet#1 , Quizlet#2 , Quizlet#3
- YouTube Crash Course on Accounting – Link
- Free accounting courses and tutorials – Link#1 , Link#2 , Link#3
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FAQ ❓
Q: What are the prerequisites for this course?
A: The prerequisite for Intermediate Accounting II (D104) is Intermediate Accounting I. Ensure you have a solid understanding of the concepts covered in the first course before proceeding.
Q: How are the assessments structured in this course?
A: The course includes two pre-assessments (PA) and two objective assessments (OA). The PAs are designed to help you gauge your readiness and understanding of the course material, while the OAs are official exams you need to pass to complete the module.
Q: What is the best way to memorize financial ratios and other key concepts?
A: Repetition and practice are key. Create flashcards for ratios and definitions, work through practice problems, and discuss challenging concepts with classmates or mentors.
Q: What if I struggle with certain topics?
A: If you find certain topics challenging, make use of WGU’s resources such as tutoring, discussion forums, and instructor office hours. Don’t hesitate to ask for help to ensure you understand the material thoroughly.
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Conclusion 📄
As you embark on your journey through Intermediate Accounting II (D104), we encourage you to take the advice provided in this article to enhance your study approach. By following the study guide and focusing on key topics, you can navigate the course material more effectively and improve your understanding of complex accounting principles. Utilize the tips and tricks we’ve shared to tackle the objective assessments with confidence. Remember, consistent study habits, thorough preparation, and a strategic approach to learning will be your greatest allies in passing this module. Make use of all available resources, practice diligently, and don’t hesitate to seek help when needed. We believe in your ability to succeed and are here to support you every step of the way.
Best of luck in your studies and on your path to becoming a proficient accountant!
