I just found out today that the mentor for the core accounting classes resigned yesterday by sending an email to wgu. He wasn’t the only accounting mentor at wgu but he was the only one for ato1, auo1, bga1, and cmo1. If anyone has any questions, you should try contacting other course mentors that are in other accounting classes such as fnt1/fnc1. I was told that there will be a new mentor starting November 26th. Just wanted to let everyone know in case you tried emailing the mentor and got no response.
I had my mentor add another 2 classes to my aav, CMO1 and BGA1. These are my last two accounting classes for my degree. The only remaining requirement after these classes is my capstone, which I will also be starting this month as well, although it is not added to my aav yet. Depending on how these next couple classes go, I hope to be finished by the end of the year.
AUO1 – Concepts in Auditing and Information Systems (4 cu’s)
This class can be checked off. I found that the test is very similar to the pre-assessment. I did not use the book for this class, I used youtube to study. The test covers general auditing and I.T. concepts, nothing in-depth. Some of the tested concepts include:
- ERP software
- AIS Documentation
- AIS Coding
- AIS Security
- Engagement letter
- Internal Controls (including types of sampling)
- Types of Audit Evidence
- Auditing Standards
- S.E.C. and Sarbanes Oxley Act
- Types of Audit Opinions
- Management representation letter
I took the pre-assessment for AUO1 today and passed it. I wasn’t sure what to expect because I did not fully finish studying for the course yet. The test is mostly about auditing with some AIS questions sprinkled in. It seems to be pretty straight forward and easy going. Not too much to write about, the final is schedule for later this week so I’m hoping for the best.
ACA1 – Problems In Accounting (6 cu’s)
This course was one of the harder classes so for me, partly because I thought the directions for the second task weren’t very clear. I passed all the tasks without problems except for task 2, which many struggled with as well. I had to submit this task a few times because they weren’t happy with my explanations. Other than task 2, the other tasks are pretty straight forward. I’m very happy to have this course done. Let me know if you have any questions on this course.
I have started AUO1 and ACA1 and hope to finish them both by the end of October. I already have done the first task for aca1 and found it to be somewhat easy if you follow the flow of the task. Not sure what to expect from AUO1; I know it includes auditing and accounting information systems. I will post updates as I go through these next two classes. Like always, if you have any questions or need help, let me know.
ATO1 – Concepts in Financial Accounting and Tax (8 cu’s)
A.k.a. – CGC1
The beast was slain.
I passed this course this morning and was thrilled to have this course behind me. For me this course was no joke, with my non existent business background, it was like learning a foreign language. The test seemed to be never ending as I went through the 70+ questions. I was nervous to take the final because I have heard of others failing due to the fact that the final was much different from the pre-assessment. The final is a bit different but not completely, it still has the same concepts. I can understand how people struggle with the test because it is a monster. I recommend taking your time and make sure you absorb what you can as far as reading and understanding the content.
Content Covered on this Exam:
- Basic taxation concepts
- S.E.C. and FASB
- Bonds (Interest Expense)
- Stocks (Common, preferred, treasury)
- Revenue Recognition
- Diluted EPS
- Leases (Capital Leases and nonoperating Leases) – Calculating lease payments with and without residual value
- Pensions (Defined Benefit and Defined Contribution)
- Accounts receivable (bad debts expense and factorization)
- Inventory (LIFO Dollar)
- Payroll Expense
Be familiar with the time value of money and using present value and future value factors because there are a few questions that require you to know how to use them.