If you listen carefully, you will find he spells out his expectations and plans in details. Each chapter may seem overwhelming the first time you read through it. Give yourself a lot of time to work through it piece by piece. If you understand the material or have taken a stab at the homework before class, the class will be much more beneficial. It is not a tough class.
Tests are very straight forward.
Keep up in this course. You are going to want to remember this stuff in the future, i.e. CPA exam. If you learn this stuff half-hazardly, you will be confused, forever. Keeping up with the homework was very helpful for me. Obtain the company's annual report immediately after your group selects a company.