Implications New Accounting Standard Leases -Myassignmenthelp.Com

Question: Discuss About The Implications New Accounting Standard Leases? Answer: Introduction Myer is the department store based in Australia incorporated in 2006. Their department store network involves the footprint of more than 60 stores in Australian retail stores. The merchandise categories of Myer includes different product categories like menswear, womens wear, childrens wear, beauty products, cosmetics are few to be named. The company is ranked at 145 among the top 2000 Australian companies. Majority of income for the company is generated through department stores in the Australian industry. The main objective of the company is to provide superior speciality services through creation of mutual rewarding relations with their customers through open, safe and inspiring environment (Myer.com.au 2018). On the other hand, National Australia Bank is the leader in delivering the bank services to the Australian businesses. They are specialists and expert in heath, education, government, community banking and agribusiness. Their main objective is to become the most respected bank in New Zealand and Australia. Majority of the banks business for financial services are operated in New Zealand and Australia with the other business being located in US, UK and Asia. The relationship of the bank with the customers are depended on the principles of advice, guidance and help for achieving better financial results for the customers (NAB.com.au 2018). Discussion AASB 16 and IFRS 16 deal with the lease treatment. As per the standard the companies are required to bring majority items under operating lease to record in the balance sheet of the company. The lessee shall measure the liability of lease at commencement date at present value of lease payments that are unpaid as on that date (Holland 2016). Further, the lease payments must be discounted through the implicit interest rate, if determined. However, if the rate is not determinable the incremental borrowing rate of the lessee shall be used by the lessee. However, after the date of commencement, lessee must measure right of use the asset through application of cost model (Xu et al. 2017). Further, for application of the cost model, the lessee shall measure right of use at cost reduced by the accumulated depreciation and impairment losses, if any and shall be adjusted for the measurement of lease liability, if any. Further, as per the disclosure requirement of the standard, the information shall be disclosed through notes together with information delivered in the balance sheet, cash flow statement and profit and loss account (Wong, Wong and Jeter 2016). These statements give the clear idea regarding the impact that leases may have on financial performance, financial position and the cash flows of lessee. Looking into the financial statement of Myer, it is identified that the payments towards operating lease are accounted for as an expense under the income statements of the company on straight-line method over the term of lease. Further the lease contributions or lease incentives from operating lease are accounted for as deferred income and is reversed on straight line basis over lease term. The increase of fixed rate to the lease payment without taking into consideration the index or contingent based increase in rents are accounted for on straight line method over lease term. A liability or asset is accounted for the difference among the paid amount and expenses of lease is recognized as income on straight line method. The improvements on account of leasehold properties are amortised over period of lease or expected useful life of the asset for improvement, whichever is less. Further, the provisions for leases are written back partially to the provision of lease rental increase that is fixed. Actual payments for lease can be varied with the amount provided as provision where any alternative uses of the assets are found that includes the new tenants attraction. Majority of the companys warehouses and stores under the operating leases that is non-cancellable are leased for 1 to 30 years of time. Further the key judgements for leases adopted by Myer is that the company classifies the leases as operating leases and financial lease based on whether the company holds all the rewards and risk associated with the ownership or not. While making the assessment, the company primarily considers the ownership on asset only after the completion of lease term (Dakis 2016). However, the reported commitments for lease do not include the rent that was treated as contingent at the inception of lease. The impact of the exclusion with regard to the reported commitments for lease is not considered as material fact. Looking into the annual report of NAB, it is identified that rents from operating lease are charged in the income statement on straight-line method over the term of lease. However, if the operating lease is terminated prior to the lease period end then whatever payment is made to lessor through penalty is recorded as expense under the income statement in the year of termination (Joubert, Garvie and Parle 2017). Further, the incentives from lease are recorded as the integral part of total expenses for lease over the term of the lease. Further, both the companies accounts the leases for equipment, plant and property under which the considerable portion of rewards and risks are retained with the lessor are considered as operating lease. On the other hand, leases under which the company retain considerably all the rewards and risks of the ownership are considered as finance lease (Wong and Joshi 2015). Conclusion It is concluded from the above discussion that both the companies follow AASB 16 for treating their leases. As per the standard all the liabilities and assets under leases for more than the term of 12 months are recognized in the financial statements unless the asset has very low value. Further, the lessee recognize the right-of-use asset as the companys right for using the asset and the lease liability as the obligation for lease payment. Further, as per AASB 16, both the companies will show the present value of the obligation as liability under balance sheet along with the asset available under right-of-use. Further, the income statement will be classified for the expenses associated with occupancy as interest expenses and amortisation. Reference Dakis, G.S., 2016. Upcoming changes to contributions and leasing standards.Governance Directions,68(2), p.99. Holland, D., 2016. Simplifying income recognition for not-for-profit entities.Governance Directions,68(11), p.666. Joubert, M., Garvie, L. and Parle, G., 2017. Implications of the New Accounting Standard for Leases AASB 16 (IFRS 16) with the Inclusion of Operating Leases in the Balance Sheet.Journal of New Business Ideas and Trends,15(2), pp.1-11. Myer.com.au., 2018. Home. [online] Available at: https://www.myer.com.au/ [Accessed 26 Jan. 2018]. NAB.com.au., 2018. Home. [online] Available at: https://www.nab.com.au/ [Accessed 26 Jan. 2018]. Wong, J., Wong, N. and Jeter, D.C., 2016. The Economics of Accounting for Property Leases.Accounting Horizons,30(2), pp.239-254. Wong, K. and Joshi, M., 2015. The impact of lease capitalisation on financial statements and key ratios: Evidence from Australia.Australasian Accounting Business Finance Journal,9(3), p.27. Xu, W., Xu, W., Davidson, R.A., Davidson, R.A., Cheong, C.S. and Cheong, C.S., 2017. Converting financial statements: operating to capitalised leases.Pacific Accounting Review,29(1), pp.34-54.

The Pitfall of College Application Essay Samples for Masters of Education

The Pitfall of College Application Essay Samples for Masters of Education This post contains various samples of college application letters that may be utilized in various transactions linked to academics and other school processes. The most significant step within this approach is writing an outstanding application. Another benefit of our website is the quickness. Secondly, is to receive a notion of suitable content flow. The Most Popular College Application Essay Samples for Masters of Education All of these are positive. It always appears to slip away. It will cause you to look sloppy and uninterested. Before you even begin writing the content of your college essay, there are a few essay writing basic guide that you need to always remember. You can rely on the very best essay help online. All you have to do is specify if you want your essay to be delivered. In this instance, attempt to hit the minimal words required and make certain that the essay you will write is p acked with relevant info and beneficial specifics. Reviewing a number of admission essay examples provides you with a clearer idea of the way to manage the subject matter at a better cover letter. Because you are interested in getting the essay to communicate the ideal information about you, you should do thorough preparation for the sample college admission essays to accomplish its purposes. Our admission essay examples can prove that we're here in order to provide simply the very best assistance to assure you which you submit an application essay which you can be confident in. Your admissions essay is comparable to any other essay you've written. Top Choices of College Application Essay Samples for Masters of Education I couldn't be more satisfied with the outcome. As can be expected with this much variety on a single platform, there are both positive and negative samples out there. The ideal matter to never need to be concerned about, is depending on other individuals. The situation is made worse by the simple fact that t he price of living keeps increasing each day. The Fundamentals of College Application Essay Samples for Masters of Education Revealed The previous component I aspire to gain from college is an excellent life experience that I won't ever forget. My final purpose is to achieve the wisdom and tools essential to illuminate that power to others. Because of the ARD role I've been afforded, I have had the chance to observe how this possible career may play out. Securing a spot at the University of your dream is the initial step on the path to success in life. College Application Essay Samples for Masters of Education In Europe, many nations offer you totally free college education since they see the youth's drive for education for a benefit for their country, not only a way to earn a whole lot of money. It gives millions of chances to become educated. A lot of people go for college education for unique reasons. The folks at 6DollarEssay. A specific set of skills obtained during the past few years in a college or university implies that an individual continues working in precisely the same field for decades. We function for many annually. Due to these 15 decades of experience, I am really acquainted with the diverse educational system in Houston. But so do plenty of individuals. New Step by Step Roadmap for College Application Essay Samples for Masters of Education Clients are definitely the most important portion of our work. Essay requirements will be different from school to school, but you're going to probably be requested to write 250750 words. This document may just be a sheet of paper or a digital document. However, it can greatly impact your college admissions application. Our technicians will kindly answer all your questions. What to Do About College Application Essay Samples for Masters of Education You're absolutely free to compare them with the price of similar websites. As a consequence, spend ing money to manage your essays could be challenging. Anyway, you'll certainly like our price policy. The bonuses may be used to cover later essay orders. You're attempting to demonstrate that you're a fantastic match for the program, and thus don't submit a generic essay. It is almost always a good notion to include such passions in your article to show you're an all-rounded student. To be able to be successful from the start, students will need to begin with sufficient reading and writing skills. So rest assured that there's almost always an expert writer available for your urgent job.

How to Determine the College Essay Topic - Find Out the Facts Before You Write Your Essay

How to Determine the College Essay Topic - Find Out the Facts Before You Write Your EssayIn today's fast paced world, it is important to know the best way to answer the question of how to determine the college essay topic. However, many students don't take the time to answer this important question in a meaningful way.They may end up giving each essay a name that no one has ever heard of or a slightly different definition of a word that the professor said she never even heard of before. It is important to find out the meaning of words and phrases and to use them correctly. Doing so will help the reader understand what you mean by your writing.When it comes to writing essays, most students won't listen to you because they don't want to think. They have no interest in your opinion and don't want to hear it. They are too busy worrying about making friends and relationships. However, if you want them to pay attention, you need to let them know what it is that you are trying to say.You wa nt your opinion to be based on facts, not feelings. Feelings and opinions are much harder to digest and too often have more to do with you than with the material you are attempting to write. Keep that in mind as you answer the question of how to determine the college essay topic.Find the statistics. Find out what statistics, surveys and other research have shown. Tell them how it relates to the topic and make them see why you are giving your opinion. You want them to think, not just to believe.Find out what the best subjects for the writing are. In your favorite subject, do you have any connection with that topic? Do you like your professors?Most schools and colleges have different types of students. Make sure you write about the type of student you are to make it appear you are as qualified as you can be.

English Essay - It Starts With Subject, Verb and Sentence Forms

English Essay - It Starts With Subject, Verb and Sentence FormsWhy are the subject, verb sentence forms just called English sentences, but a proper English grammar book will probably call them English essay or proofread phrase? Since so many people do not pay attention to proper English grammar while they are writing essays, the subject, verb sentence forms become the order of the day.The subject is the part of the essay you wrote and the verb is what you write and what is in it. It can be anything from a single word to a whole paragraph. I am an author, and I have come up with some very creative essay topics. You can choose one from my site.If you want to understand how to write an essay properly, you will need to learn all the aspects of a formal essay. You may not even know that the subject, verb and sentence forms are all rules that are put into place for us by the College Board and other organizations. You need to know all the rules, if you really want to impress your college ad missions committee.The subject, verb and sentence forms are an important aspect of the essay that you have to learn. How do you know this, of course, if you do not read it? English grammar books tell you about it in their sections on the subject, verb and sentence forms. They use them all the time, so it must be true.The correct spelling of the subject and verb are of utmost importance, no matter how easy it may seem. Every single person who writes a serious essay will do the subject, verb and sentence forms wrong. And this is why the essay is always looking a little off to one side of the page. This is the wrong way to do it.The essay should appear on one side of the page, perfectly balanced, no space between paragraphs. Every paragraph should have a subject, verb and sentence form that the reader can relate to. You can learn how to spell all these things in a grammar book, but they are not spelled correctly in many essays, so learning the subject, verb and sentence forms is the be st way to go.The subject and verb must be arranged and ordered correctly, and no other thing should be in the way of the correct spelling. You need to know all these tips when you are writing an essay. By learning about all of the subject, verb and sentence forms, you will have the confidence you need to impress college admissions committees and get accepted to their college.

A Classical Concert Essay Sample

A Classical Concert Essay SampleA classical concert essay sample can be a great way to get your feet wet as a concert pianist. A lot of aspiring pianists will start out by reading a few music scores and watching a live performance to see how the musicians play their instruments. While this is an excellent first step, it doesn't give you the real feel of what a real concert might be like.Concerts are rarely in a boring setting. Most are filled with spirited musicians performing at a rapid pace. They will often touch on popular culture, history, and current events. This means that a concert essay sample should include some of the following topics:- Music has long been used to educate people about great moments in history. Music writing gives these lessons a decidedly modern twist. It could be used to teach children about how airplanes operate, or how people go to war. By using classic music for the purpose of educating the general public, the use of classical music as a teaching tool b ecomes both educational and entertaining.- Music could be used to encourage self-discipline. Many people think of music as something to use while relaxing. There are also those who see it as something that provides therapy for people. Either way, a concert essay sample could help promote these positive messages to students and parents. Concerts will normally not last for a very long time, so there is no reason why students should not enjoy learning about good manners while also having fun.- There is also the possibility of learning to research music and then perform. By performing music at a live concert, students will gain a wonderful appreciation for the dynamics of playing a great instrument. The same would apply to playing music in a band or other types of ensemble. Again, this might be a useful lesson for people looking to get into bands and play music themselves. By applying these ideas to a concert essay sample, it could provide some useful ideas for educators. By applying va rious types of music to various types of topics, it could provide students with a chance to learn a wide variety of things. Students would have to try to come up with the right essay topic to meet the needs of each individual assignment.When students take a look at a concert essay sample, they will see that the educational value is much greater than they might realize. By taking some time to play around with a number of musical essays, students can really see just how easy it is to read and learn about music.

William Blake’s ‘Girls’ an Example of the Topic Literature Essays by

William Blake’s ‘Girls’ William Blakes poems Little Girl Lost and Little Girl Found read as one poem in an allegorical fashion. The parable, as Blake often writes with biblical themes, is about a child losing their way, coupled with the fear of the parent and the eventual finding of the child, not by the parents but by God, metaphorically appearing as a lion or tiger. As one poem is found in Songs of Innocence (Little Girl Lost) and the other poem appearing in Songs of Experience (Little Girl Found) it may be surmised that some earthly and harrowing event occurred in which separated these two poems into these different categories or songs, but that there exists a unification of the tale in the Song of Experience since it is with innocence that the little girl is lost. Need essay sample on "William Blakes Girls" topic? We will write a custom essay sample specifically for you Proceed Little Girl Lost begins with a couplet in which Blake rhymes age and page and time with crime (Blake); albeit these are very simple rhymes Blake used them purposefully to elaborate on the concept of innocence and to portray in his songs something childlike in the narrative. Blake uses simple rhymes in all of his poems in Songs of Innocence and Songs of Experience. The poem Little Girl Lost focuses on the parable of a little girl lost. The poem begins as a type of parable in which Blake instructs the reader by stating Children of the future age which is his way of referencing through the poem to the reader or children, and thus giving them instructions about living and life. Blake further exemplifies how life was In the age of gold (Blake) which would be equivalent to Once upon a time since the fairy tale image is very close to Blakes writing style although his poems are seemingly more urgent in their message. The story then progresses to give the reader a scene setting where the atmosphere is of warm temperament or free from the winters cold (Blake) and it speaks of youth, innocence, holiness and being naked. This resembles in some degrees the Garden of Eden. This conjecture can be made since most of Blakes poems are referencing points which direct the readers attention to scenes from the Old Testament. This Garden of Eden parable seems completely innocent in its forthcoming stage of youth and sunshine. Blake speaks about a youthful pair which could be Adam and Eve symbolically speaking which carry over to the next poem Little Girl Found in which God actually finds the little girl and the parents and brings them back together in a den of tigers, which could only mean heaven since the poems jointly speak of Waves oer heavens deep (Blake) and then lonely den(Blake). Blake introduces two lovers meeting in a garden bright(Blake) again the Eden imageryand Blake states that the maiden forgets her fear which could mean that she succumbs to the other lover, but in context with Adam and Eve it could mean she finds experience and thus her innocence is lost which would better explain the following stanzas. The maiden, after having experienced the lover goes to her father white which in keeping with the concept of the parable is God since God is typically imaged in a white gown with surrounding light. The maiden, upon seeing this image begins to shake which means that she is consciously aware of her actions and realizes that kissing her lover and gaining experience (albeit, having sex) makes her standing before God filled with sin and thus all her tender limbs with terror shook. The innocent would not shake with terror before God because they would not know what terror was; it is with the gaining of experience that the little girl shook in front of God. Following this, the next stanza reads in the voice of God pleading with the little girl to speak. Blake was also instructing in this poem to parents. God as the father figure is thwarted when the girl gains experience and is lost and chastises himself for his dismal care (Blake) which states to the readers that parents should not neglect nor lose their children for fear of what may happen to them. Following this Little Girl Found exemplifies the distraught nature of the parents who find that their child is missing. This song also begins with a rhyming couplet. The journey of the parents is very consciously written with the incorporation of nature. Like its predecessor, this poem begins with very exact images of nature; in juxtaposition to the garden image, this poem begins with a desert. This is Blakes clever way of emphasizing the plush and verdant garden and the analogy of this with innocence to the desert scenes that are dry and lacking life which emphasizes the parents sorrow. The parents travel for seven days and nights. In terms of a parable this is reminiscent of Noahs Ark and the traveling on faith alone for forty days and nights. The parents way is a pathless wandering which is typical of Blake to have the parents traveling in the wild without direction since Blake wants to reiterate the power of God and that it is only through God that a person may find their way; this was also true for the little girl who had lost her way but was found by God. Blake paints the parents in a very devastating manner; they are weak, pale, famished, weeping and all together trembling for bodily needs and comforts but mostly to find their daughter. The mother figure cannot bear to move any longer not only due to physical duress but also due to woe (Blake). Thus, the father figure, her husband has to bear her further in order to find their daughter. It is at this point in the journey or search that the parents come across a lion. They could not go back nor could they progress, as Blake states, Soon his heavy man Bore them to the ground, Then he stalked around (Blake). It is as though the lion is sizing them up, judging them and their power to continue the journey. As in the previous poem, it is with the appearance of the lion or the father or God that the individuals of each poem find their path. The parents at first fear the lion until he licks their hands (Blake) and then they realize that they are safe and in a way, they are found. Upon gazing at the lion the parents are surprised that it transforms or in biblical terms it transubstantiates into a spirit armed in gold (Blake) and on his head a crown (Blake) which is Blakes way of giving the audience a very full image without fear of misinterpretation. Upon the appearance of this golden entity any fear, or woe that the parents had previously has disappeared and in its place is hope which was not there prior to the appearance of the lion. Thus, God gives hope where once there was none, is how the parable would read. This entity, or God, tells the parents to Follow me (Blake) and they discover that God has in turn found their little girl. She resides in his palace sleeping. Blake describes the following scene is a very keen observation in relaying a parable; he juxtaposes this girl sleeping next to wild tigers. This is to emphasize that in the presence of God such physical dangers are unrealistic since with God nothing can harm a person. Thus, as the parents approach the girl and as the story states they dwell in the lonely dell (Blake) but alongside these wild creatures. The parents as well as the girl do not fear the wolvish howl Nor the lions growl (Blake) because they are in the presence of God. These poems jointly represent how it is only through the power of God that hope can be found; without God the pathway and journey is rugged and overgrown and people get lost, but through God the journey is able to be traversed. Thus, the Little Girl Lost and the Little Girl Found have biblical elements in both the allegory of the tiger as God and the allegory of being lost then found through God. Work Cited Blake, W. Little Girl Lost. Online. Retrieved 10 February 2008: http://www.poetryloverspage.com/poets/blake/little_girl_lost.html Blake, W. Little Girl Found. Online. Retrieved 10 February 2008: https://www.poetryloverspage.com/poets/blake/little_girl_found.html

ACT Prep Methods Pros and Cons of Each

Secret Truths of SAT / ACT Prep Methods Pros and Cons of Each SAT / ACT Prep Online Guides and Tips You know it's a great idea to prep for the SAT and ACT. After all, for most students it's the most time-efficient way to increase their college admission chances. However, there are so many ways to prep for the test out there what's the best way for you? Obviously, some methods will be better than others, but it's also the case that some methods are overall not very good. Quite frankly, every single SAT / ACT prep method has certain strengths. For some students, tutoring is by far the best while, for others, self-study is clearly optimal. Which one to choose depends on your circumstances and budget, but it’s quite simple to figure out. Pay careful attention because finding the right prep method for you is by far the highest leverage choice you can make to improve your SAT / ACT score. If you choose correctly, you may never again have to worry about test scores. The follow through will be easy, and the point improvements will be quick. Some say half the work is just getting started. I disagree half the work is getting started correctly. Introduction I’ve had personal experience in helping thousands of students study for the SAT. This means that I have a lot of experience and exposure to both the best and the worst prep methods. Name any test prep method, and I’ve probably mentored at least a dozen students who’ve tried it. For each method, I can tell you exactly what worked and didn’t. The â€Å"all iPhone ACT prep† method? The â€Å"binge SAT practice tests† method? The â€Å"six separate private tutors† method? I’ve seen them all, both the success and the carnage, and I can tell you exactly which methods work for which students. To top that off, I’ve developed many test prep methods myself. The first test prep method I made was back in 2003 for myself. When I got 200 points lower than I wanted on the SAT, I sat down and carefully developeda strategy that eventually got me a perfect score and admissions into Harvard. Today, as cofounder of PrepScholar, I’ve written ACT and SAT prep methods for my students, helping them improve their scores sometimes as much as 300 points on the SAT and 5 points on the ACT, or more. All this has taught me the importance of one single point: If you are going to actually improve your ACT and SAT scores, you need to choose the method that best fits your style! You see, like a boat setting sail, a small correction at the start means a big difference in where you end up. If you head in the right direction now, it can save you weeks of agony later on. Prepping the wrong way will totally waste your time and money. You’ll be hosed if you self-study but have no insight on how to improve. You’re also sunk if what you really need is to focus on a couple of areas, but you make the mistake of taking a small group class. The wrong prep can make you feel hopeless and doubt whether you can ever improve your SAT and ACT scores. That’s the bad news. The good news is you really can learn what method is best for you if you have an expert like me (or anyone else with as muchexperience) willing to debunk the topic and take the mystery out of it for you. Students, parents†¦ start your engines! You are, as promised, going to learn the real pros and cons of the different prep methods. Tutoring Is tutoring the best prep method across the board? After all, it costs the most usually running into three or four digits the same cost as a year of tuition at many good public universities! At that price, tutoring must be good, right? I’ve worked with hundreds of tutoring students as well as tutored many students myself in ACT and SAT prep, and I can debunk the myths for you. Pros If all goes well, tutoring is indeed the very best prep you can get. When things go well, your tutor will not only be a great scorer on the SAT / ACT, but your tutor will also be vetted to be a great teacher. It's not enough to have a tutor who only scores well on standardized tests; they also must be able to explain their methods in a way that helps you perform well too. When things go well, tutors will sit with you one-on-one and actively diagnose your errors. They’ll look at your specific errors, ask you specific questions, and use their expertise to figure out customized strategies. Imagine an expert mechanic asking exactly the right question to find which screw in your car needs tightening and then going in and tightening it the right amount. This is what the best tutors will do for you. There’s also a definite emotional advantage to tutoring. The tutor pays close, specific attention to the student and provides emotional support as well as psychological assurance. If you let the test get inside your head, then tutoring can help. The tutor will build a personal connection and soften the anxiety the student feels in taking the test. Cons But, truth be told, most real cases of tutoring fall short of this ideal. The major issue is finding the right tutor. I’ve seen so many tutors who score less than 1400 on the SAT or less than 32 on the ACT. When you’re scoring this low as a tutor, it reveals serious gaps in base skill content. The tutor probably doesn’t understand the most sophisticated idioms or doesn't know how to answer non-routine math problems quickly. This affects not only students who are aiming for above 1400 out of 1600 on the SAT or 32 out of 36 on the ACT, but alsostudents who are aiming for a more modest score like 1000 or 20. You want a tutor who is much better than you, not just a bit better. If you’re learning to drive, you don’t want to learn from someone who just passed their exam last month you want a professional with years of on-the-road experience. Is score all that matters then? Is the solution to hire a college freshman with a perfect score for $50/hour? No. Even if you find a high scorer, there is still the question of whether the tutor can teach. Tom Brady is one of the best football players but is he the best guy to coach a middle school student who is just getting started with the sport? You might think that a decent professional football player who really understands the struggle of middle-school players would make a better coach and you’d be absolutely right. Teaching is hard. You have to understand each student’s way of thinking and then fix the student’s mistakes. However, many purely high scorers suffer from the curse of knowledge. Doing well on the ACT / SAT is so second nature to many high scorers that they have no idea what it’s like not to understand. These suffering tutors explain the same strategies that worked for them over and over again. Unsurprisingly, on the day scores come out, there’s no increase and everyone is disappointed. Here’s a fact that’ll blow your mind: 75% of tutors are not fully effective for their students. Usually, this is more because they don’t know how to teach and notbecause their score is too low. How to Make It Effective The best way to fight against this is to get a good reference. Like lawyers and doctors, the best way to find a good tutoris to get a close friend to tell you who worked for them. Make sure that your referrer’s situation is the same as yours: if your student is scoring high, you don’t want a reference from a low-scorer with a learning disability who may have had different struggles than your student If you don’t have a close reference, an equally good option is to hire a tutor through a company. A reputable company itself acts as the best reference possible. A company like ours has incredibly high standards. We select our tutors through rigorous mock sessions. Our interviewers are tutoring stars themselves. Finally, we keep on grading our tutors monthly to ensure continuing quality, and we match each student to the best tutor for them. We’re not the only company that provides tutors out there, but you definitely want to get a match from a high-quality company. Here’s a list of questions you must ask the tutoring company: Do you require each tutoring candidate to mock tutor before you hire them? Do you only hire tutors who scored 95%tile or above? Do you only have tutors with previous experience improving scores? Do you screen more than a dozen applicants for each tutor you hire? For us, the answers are all yes, and you’d want any company doing tutoring for you to answer yes to everything above too. I can tell you right now, the top two oldest big names in test prep don’t qualify they’ve grown so old and convoluted that the left hand barely knows what the right hand is doing. Summary Cons of tutoring: Hard to select the right tutor Most expensive test prep option Pros of tutoring: If you choose the right tutor, it’s the most effective prep possible Great tutors can give you personalized diagnosis of your issues as well as emotional attention and enforcement Classes Oh boy, classes are going to be a fun topic for me to talk about. There are just so many stories that you wouldn’t believe! But I’ll get to that in just a moment. First, let me be clear. When I say classes, I mean a physical room (or worse, a Skype virtual room) where one teacher stands at the front and talks to many students at a time. Cons Where did classes go wrong? After all, don’t most students in school learn in classes? Doesn’t it combine the best of all worlds? After all, don’t you get a live person without the cost of a tutor? But when it comes to test prep, classes are a recipe for failure like none other. They’re the perfect storm of two ingredients that create destruction. On the one hand, students come into test prep with vastly different skills. Some students will be scoring 20th percentile; other students will be scoring 80th percentile. Some students really need vocab help; others need to make fewer careless mistakes. On the other hand, classrooms have a fixed curriculum. They teach every student the same sequence of lessons and spend the same amount of time on each topic. Mix them together, and you have the perfect recipe for the least effective way to test prep. What will you be doing in a test prep class? Half the time, you’ll be going over stuff you already know. Already know all of Algebra I? Don’t be surprised if you waste multiple hours getting lectured on how to isolate variables and solve for x. On the opposite front, are you having problems with careless mistakes? Don’t be surprised if your course only spends a couple of minutes talking about how to attack careless mistakes and instead devotes a bunch of time to strategies that couldn’t possibly apply to you. But why do classes work well for school? In school, everyone is up to the same speed. When you took Literature II, everyone in your class had already taken Literature I. When all students are at the same point, the same lessons make sense. With test prep, the exact opposite is true: students come in at vastly different levels and don’t have enough time to catch up during the short course. Trust us, many of us at PrepScholar took classes back in high school (when we were naive), and each one of us hasregretted it. One horror story revolved around a big-name test prep company. The teacher spent three hours reading dictionary definitions of vocab words: â€Å"Timmy do you know what the definition of plethora is?† †¦ â€Å"No, Timmy, that is not right. Katie, do you have an answer?† Imagine that exchange repeated about 90 times and you can imagine how that 3-hour class went. To add insult to injury, many of the biggest names don’t have particularly high standards when it comes to hiring class teachers. Anyone who has a passable resume will get hired. We were literally told this directly by a hiring manager of one of the big-two tutoring company branches. Oh, and did I mention classes still aren't that cheap? They're only slightly cheaper than tutoring but lack many benefits. Classes don’t offer customization and still cost up to $2000. Compare that to our tutoring program that costs less than $2000, and you'll scratch your head wondering why you don't either upgrade to tutoring or save money with a more automated program. Pros I should be fair to classes at this point. There is one type of student classes do work on: If your student has huge motivational issues, and only motivational issues, classes can work. If your student just needs someone to stand over them to get work done, and the qualifications and teaching ability of the person standing over them don't matter, then classes can boost that student’s score. Self Study Self study is the original form of test preparation, and it has some very distinct advantages. First, it’s incredibly cheap free if you do it right and use library books. Students essentially create their own programs and find out what to study and when. Self study can work, and you can find success stories all over the Internet. The first step of a self study program is to identify the right resources. Princeton Review books tend to work best for fast studiers who only want to improve a little, especially by working on test tricks instead of underlying skills. Kaplan is good if you’re mid-range, and Barron’s is the best if you’re at the top and willing to really sink time into getting an even higher score. You then need to self-diagnose your issues by analyzing questions you got wrong on practice tests and training questions. Divide these issues into content holes versus strategy holes. Then, design a study plan to figure out exactly how you will improve up until test day. You absolutely must stick to putting in the hours you promised yourself and revise your study plan as you get more data about what is working and what isn’t. Pros As you can probably see, self studyworks best for a certain set of students. It’s important that you’re self-motivated. If you’ve had a history of being able to plop down hundreds of hours of time to concentrate on a singular goal, then self study might be the right choice for you. If you’re the type of student who gets distracted from time to time or benefits from some external encouragement, you should be careful. Self study also works best for students who are already doing well on the test. They understand enough of the test, and how they have improved in the past, to self-diagnose their issues correctly. Cons It’s very easy, especially if you don’t fit the profile above, to fall by the wayside if you choose to self study. The number one most common mistake is running out of motivation. Like going on a diet, students are a lot more enthusiastic at the start. After tenhours of pounding away at questions, reality sets in. Some students browse YouTube, others skip study days, and still some students grab at any other reason (â€Å"I gotta finish this homework!†) to not study. The second most common reason for self study failing badly is not self-diagnosing correctly. We’ve seen so many self studiers go through a book cover to cover. Most of the material the student probably knows already, and the few pages that really hit upon a weak spot the student glosses over. Other students become obsessed with ways to â€Å"trick† the test and get really into test-taking tactics that don’t actually work for them. Summary on Self Study The end conclusion is that self study can work,and it has producedsome stellar cases you can read about on the Internet. And it is absolutely the cheapest way to study, especially when paired with a library. However, the student does need to be very insightful and self-motivated, and even then there is still a lot of risk involved. Many parents we’ve encountered are confident of their student’s ability to self study. However, often they still invest in help just to be safe after all, it’s their student’s education, their student’s future we're talkingabout here. Some students take pride in self studying, but it’s instructive to ask yourself whether pride or getting the highest score is more important. In the end, for well-qualified students, the decision is a personal one. Online Prep Programs The Internet is more popular now than ever. Budding Internet technologies that were just wisps of ideas in the 1990s are now functional, tested realities. If you’re a parent, you may remember decades ago when we would wait hours to download a tiny file over a noisy modem. Today videos can be streamed live to teach lessons anywhere. I know exactly what you’re thinking. Is online prep for real? The promise of instant access to hundreds and thousands of hours of lessons right in front of you sounds too good to be true. The idea that a machine can pick and choose lessons based on your exact skill level seems too much like science fiction. Can online test prep be the holy grail, or is it just catering to the hype, taking advantage of buzz words? Lucky for you, we at PrepScholar have an exceptional online prep program. What that means is that, in order to develop our product, we’ve done thorough research on every single program out there. We’re here to tell you what works and what doesn’t. First, I want to debunk some myths for you. Online test prep can provide a much better learning experience than usual, but it is not magical learning. If you’re picturing instant, effortless understanding, that’s NOT what online test prep is. Let’s debunk the myths. Here is what online test prep CANNOT do for you: Improve your score without you putting in time Make learning as relaxing as watching a TV show Allow you to learn passively, putting in no effort Improve your score substantially if you have no motivation Eliminate your careless mistakes without you thinking hard about them In fact, no test prep can pull off the magic above! Online test prep is not magic; it can’t get you a 4x improvement (in either efficiency or raw point increase) over the best traditional test prep methods. Anyone claiming revolutionary effortlessness should be seriously examined for whether they’re telling the truth. For quantitative types, a good estimate is that online prep isabout TWICE as good as traditional test prep. In that sense, online test prep can work better! A good online test prep program will: Be comprehensive Diagnose the student’s strengths and weaknesses Assign content lessons based on this diagnosis Keep updating the diagnostics based on student progress Assign strategy lessons based on student performance Let the student know at every single point in time what to work on, whether it’s practice tests, quizzes, lessons, drills, or even taking a break Have exact measures of the student’s skill in every category Motivate the student using progress bars, reminders, and regular parental progress reports If you’ve been following other blog posts about how we recommend students prep for the SAT, you'll have seen that these strategies are strongly recommended even if you are studying on your own. Look around on the Internet and do your own research: You’ll find every high scorer, every high point improver, has used a close variation of the above strategy to achieve their goal. Pros What online test prep does is make the above customization process totally automated so you can put all your hard work into learning and not into stressing about what to do next.It is our strong opinion that the best online prep programs are indeed effective. Another advantage is cost. By letting a computer monitor you and help you, online prep programs are generally a lot more affordable than classroom programs and tutoring. Most online prep programs are twice as affordable (if not more) than classes, and online programs are more effective as well. Finally, another fringe benefit of online prep is you can study anywhere. Students are busy, and studying from a car before soccer practice, or at home if you live away from city center, is very important in encouraging students to put in the right hours. Cons One strong warning about online test prep programs though: You absolutely must choose the right one. Many online test programs are just riding on hype and haven’t invested much in their program. One online prep program by a big-name test prep company costs hundreds of dollars. You take a one-time diagnostic, and then you get an e-book with certain sections highlighted. Here’s the kicker: The e-book is the same as the $20 book they sell at Barnes and Nobles. I personally asked this program’s saleslady about whether this method was good, and she frankly told me, â€Å"Yeah, almost no students finish this program.† I was shocked they would market such a program. Another â€Å"boutique test prep company† started by a celebrity tutor had an online test prep program that was literally just a PDF. No customization, no progress reports. You pay a few hundred bucks, and all you get is access to a site with a PDF. My jaw dropped. Bad online test prep programs offer only token customization, no guidance, and no motivation. They’re no better than e-books. In fact, many programs are actually literally that: an e-book! Note From Our Experience: At PrepScholar, we’ve created a prep program that succeeds in all the ways we described above. It’s based on our founders’ own study methods from when they got their perfect SAT scores and 99th percentile ACT scores. These methods have been improved over time with the thousands of students they’ve taught. Our complete online prep program guides you through a structured study plan from beginning to end. You start by taking adiagnostic exam, and we automatically determine your strengths and weaknesses through advanced statistics. Next, we create a customized study plan for you, assigning you the right lessons and practice questions to work on every week. For example, if you always ace the math section but need help with tricky grammar, your study plan will explain grammar rules carefully and won’t waste your time with math problems you already understand. We track your progress and automatically adjust your schedule so that you’re always workin g on what’s best for you. We also integrate real practice tests into your program, so you get training for the real exam. We also go above and beyond the teaching by caring about student motivation. We know that it’s easy for you to get distracted, even if you know that SAT / ACT prep is important. That’s why we send out progress reports every week to you and your parent, so you know you’re on track. We also help you fit prep into your schedule and commit to your study times. These features have been proven to increase study time by over 200%, leading to better score results. What's Next? You have many choices when it comes to test prep, and each methodhasspecific strengths and weaknesses. Tutoring is great for it’s effectiveness, although you can face problems finding theright tutor and affordingits high cost. Classes are generally not very effective, but they can be good for students who need just monitoring. Self-study is very effective when done right, but it requires motivation, insight, and getting it right. While each method has strong and weak points, that doesn’t mean the methods are created equal for example classes are usually a bad deal, whereas self-study often works. And, of course, everyone today should be seriously considering online prep. It’s an affordable method that can lead to better results than self-study and textbooks. However, only some online programs are actually effective. At PrepScholar, we avoid the mistakes that other programs make and deliver a comprehensive prep program specifically designed to maximize your score. Further Reading Thinking about tutoring? Check out our guide to learn if online tutoring is right for you. Want to get started on your test prep?We have great tips to help you boost your SAT score orACT score. Are you aiming for a top score?Read our guides to getting a perfect score on the SAT or a perfect score on the ACT, written by a full-scorer of both exams.