5 Simple and essential techniques to study accounting

The subject of Accounting and, within it, all its variants (Analytical Accounting, Financial Accounting, etc.) are present in many careers and degrees due to its importance for any company or organization. However, there are many students who are choked on balance sheets and income accounts and end up desperate and without knowing how to study accounting. Here we present 5 study techniques that can get you out of trouble and even get you to like accounting (you will not be the first student who hated accounting and ended up being an accountant).

These tricks are given:

  • The Bases
  • Practice
  • The Balance and the Calculator
  • Do not stay with doubts
  • Make sure you’re on the day:
  1. The Bases:

This is a piece of advice that we repeat in many subjects but, in accounting, it is a critical factor. The problem of many students is that they simply do not master the basic concepts of assets, liabilities, net worth, position, credit, balance, depreciation, etc. so, when they move to slightly more advanced concepts or exercises, they are lost. Therefore, it is worth investing our time in understanding and fully mastering these concepts before moving forward. In this sense, the memory cards and the online notes can be two key tools to review and have always at hand the terms with which we will work during our study.

Remember that, as Albert Einstein once said, “if you cannot explain something in a simple way, you do not understand it well enough.”

  1. Practice:

For many hours that you study the days before the exam, you will not approve. Accounting is a subject that requires continuous work throughout the course. If you want to get good results, divide your study hours in a balanced way and gradually increase the difficulty of the exercises. At the beginning, try to perform simple exercises with your notes in front while, the days before the exam, you will be faced with complete exercises that resemble the exam itself.

  1. The Balance and the Calculator:

This is why you should not worry too much at first, since the study itself and the practice you do during the course, will make you become a teacher with the calculator, the balance, and the various financial statements. However, before facing any test or accounting test, you must ratify that you handle these elements quickly and that you can use them almost without looking.

A study group

  1. Do not stay with doubts:

Accounting is a subject in which any doubt can affect the rest of our knowledge and make us doubt in excess when performing exercises that we already dominate. Therefore, it is especially advisable to ask the questions we have, either to our teacher or to a colleague who can help us.

In this sense, setting up a study group is a strategy that gives very good results to some accounting students. If you work with other students in your class to review the material, you will be better prepared to answer the questions they ask you. In addition, the best part of this is that, while you respond and help others, you also learn. Another alternative is to face small test-type exams to consolidate your knowledge.

  1. Make sure you’re on the day:

Accounting is governed by rules that vary by country and are updated with the certain frequency. This does not have to affect you as a student but it is always good to make sure that the study resources with which we are studying are currently valid and, above all, those that require us in the exam. If in doubt, ask your teacher or use the study groups to ask for help.

We hope that these tips will clear the doubt about how to study accounting and give you good results.

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