DSST Principles of Financial Accounting Exam

If you are a college student and already understand a lot about financial accounting, the DSST Principles of Financial Accounting exam might be a good choice for your academic career. A DSST Test is a prior learning assessment program that helps college students earn semester credit for what they already know, without spending time and money on a course.

Many business programs require lower-level credit in financial accounting, but if you could test out of the lower-level introductory course you would have more time and money to take the courses you really want. If this sounds appealing, check with your college or university to make sure it accepts DSST tests for semester credit.

The DSST Principles of Financial Accounting exam covers these 11 topics:

1. General concepts and principles
2. Accounting equation and transaction analysis
3. Accounting cycle and account classification
4. Adjusting entries; accruals and deferrals
5. Merchandise transactions
6. Cash and internal control
7. Current accounts - marketable securities, receivables, and inventories
8. Property, plant, and equipment
9. Long- and short-term liabilities and interest calculations
10. Capital stock, retained earnings, and dividends
11. Financial statements - their components and interpretation.

Although DSST exams measure what you already know, studying for the exam is recommended. A DSST Principles of Financial Accounting exam study guide can offer a few practice questions, tips, and other resources. You may also want to check out some current textbooks for a review of accounting principles, theories, and terms.