One advantage of taking a CPA Review course from an experienced instructor is that it provides the inexperienced candidate with an over-view of the types of questions and subjects most apt to be touched upon. The candidate needs to acquire perspective. Many students taking the examination immediately upon finishing their university training, do not know whether three hours spent in a review of process costs will be as valuable as three hours' review of the break even point or perhaps the subject of joint ventures. A thorough application of the principles of commercial law is useful in recognizing accounting consequences of legal documents such as contracts for the sale of merchandise, bills of lading, underwriting contracts, stock option agreements, pension plans, and employee profit-sharing plans. Careful attention must be directed to outlining the special rights, privileges, and priorities of various classes of common and preferred stock. Restrictions on dividends resulting from long-term bond indentures must be properly explained. These are just a few of the items encountered.

The article presents matters related to accounting for students of accounting. The students of today will be the practitioners of tomorrow. One of these is the trend toward a constantly increasing proportion of fixed to total costs. The article presents theory cases for undergraduate courses. After some examination, the writers have found a means of achieving, in part, some of these goals. In a two-hour undergraduate course called "Current Accounting Topics," an effort is made to give students something other than conventional text-book material and to encourage the discussion of matters of theory in a framework that differs from the usual problem-solving approach. The article also presents a simplified three variance technique. The basic concepts involved in calculating the three components that make up the difference between manufacturing expenses incurred and the amount that is charged to production under a standard cost system are difficult matters for most students of cost accounting. The article describes about helping accounting students to learn how to analyze a business transaction.