Finally Friday!

Fri, 22 Apr 2016 15:19:40 GMT

Hello and happy Friday. Today not only marks the end of the week, but also the end of our 12-week online study session for the COPM. I hope that you found this a valuable resource as you prepare to take the exam. Remember that this forum is only one of the resources available to you to prep yourself. Remember to check out the AOA store...you will find the Resource Manual, AOA U modules and more. And perhaps your greatest resource is the member directory! You can reach out to fellow AOA members and COPMs. All of the members of the COPM Advisory Board who have been contributing to this on-line study session are here for you. Feel free to email or call any one of us if you have questions about anything we covered or anything you'd like more information on, etc. You can also post your questions right here on the discussion board!

Here is some finance vocabulary that you should be familiar with:

Methods of accounting -- accrual method and cash basis

Know your various types of statements -- balance sheet, cash flow statement, income statement

chart of accounts

depreciation

credits and debits

general ledger

what is GAAP?

internal controls...why and how?

assets and liabilities

Costs -- direct, indirect, fixed, variable

Any questions?

Have a great weekend, all. AND GOOD LUCK AS YOU PREP FOR YOUR COPM!