LaVerne Funderburk, CPA

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Study Materials Written by LaVerne Funderburk

In addition to writing the UIL Accounting contest materials, my goal is to write study materials for contest preparation.  This section of the website lets you know what is currently available and what materials are under construction.  As you consider how you will use your contest study materials spending budget for this school year, please remember that several products are currently under construction and may not be available until much later in the school year.  Thank you for considering these Accounting study aids.

If you wish to be notified by direct e-mail when new products are available, please e-mail me and ask to be placed on that list.  (Tell your spam filter to consider me a trusted friend.)


 

Detailed Accounting Concepts List

The Detailed Accounting Concepts List  is a resource tool for contest preparation.  It is intended to be an exhaustive listing of elementary accounting principles, vocabulary, theory, procedures, practices, etc. that could possibly be included on a contest exam.  A sample page is available for viewing.

 

2010 LFCPA Practice Tests

You may use these tests for classroom practice or for an invitational meet your school is hosting.  Please order in ample time as all materials are shipped by regular postal service.  If expedited shipping is necessary, please e-mail me to make arrangements.

The 2010 District practice test does include payroll.  When writing this test, my focus was to use concepts that did not get included in UIL 2010 Set A or 2010 Set B although you can always expect certain concepts to be included on any invitational or district level test (okay, like a bank reconciliation).

This 2010 Regional practice test provides intense coverage of regional level concepts.  It could be used as an assessment tool to gauge a student's understanding of the regional level concepts.  It will also serve as excellent contest preparation.

The 2010 State practice test is designed with 90% state level concepts and 10% regional level concepts.  About 60% of the test uses the answer format of "no-choice numeric" which decreases the opportunity for guessing.  So this test should prove to be a valuable tool in assessing a student's understanding of state level concepts and a strong review as students prepare for state meet!

 

Products Under Construction

So many ideas...not enough time!  Envisioned are individual packets called Concept Builders.  These will focus on regional and state level concepts.  Each packet can be used to teach or reinforce the vocabulary, journal entries, and procedures associated with that concept.  Recurring contest exam formats will be demonstrated along with suggested approaches and solving shortcuts.

The Concept Builders in the works are:

  • Accruals, Deferrals, and Reversals (Expected Summer 2010)
  • Uncollectible Accounts (Expected Fall 2010)
  • Inventory Costing
  • Financial Statement Analysis
  • Promissory Notes
  • Accounting for Corporations
  • Accounting for Partnerships
 

Concept Builder--Accruals, Deferrals & Reversals

This packet begins with a detailed teaching narrative that explains cost theory, timing differences, the two types of accruals, the two types of deferrals, and reversing entries.  Throughout the narrative are valuable charts, journal entries, and summary exhibits.  Of special benefit is the Time Sheet for Accruals & Deferrals.  There are terms/definitions, helpful hints, exercises to test understanding, and typical problem formats from prior year state level exams.  It also has problems for students to work along with demonstrated solutions.  If you always seem to run out of time getting all state level concepts covered before state meet, this packet serves as an excellent "self-study" material or a thorough review.

 

Concept Builder--Plant Assets

The Concept Builder--Plant Assets packet begins with a bulleted listing of key points outlining the theory within the concept area (plant assets, depreciation, property tax, and disposal).  The next section shows how to do any math computations that are specific to the concept area (straight-line and declining-balance depreciation methods).  Finally, typical recurring problem formats from prior year contest materials are demonstrated.  Throughout the demonstrations are suggestions for problem-solving strategies, short-cuts to try, and pitfalls to avoid.  Problems are included for students to solve and solutions are provided.

 

Regional Study Packet

A packet of 3 regional tests written by LaVerne Funderburk is available through Hexco.  Each test focuses heavily on regional level concepts providing a platform for classroom use in preparation for the regional contest.  This product can only be purchased through Hexco.