Study Guides for Accounting Students

 Accounting has been considered as one of the hardest course in college. Accounting requires logic and comprehension in every topic. But what is accounting anyway? Are you an accounting student? Do you know why you are in an accounting course? Or if you are still looking for a course that will suit to your intellect, will it be accounting? In this article, all of these questions will be answered. Just like in accounting, you need to read patiently. If you do not understand this article patiently, I guess you will not do well in accounting.

Accounting is the systematic recording, reporting, and analysis of financial transactions of an entity. The record refers to journalizing accountable transactions and events, and reporting refers to communicating the reported events through statements of financial position. In a broader sense, accounting refers to an information system that measures, process and communicates financial information about an identifiable economic entity.

As we see the accounting definitions, we see it as a natural course which only requires recording information and reporting it eventually. But if you really know the course, this definition is complicated. Accounting doesn’t just need you to record things and report them, it requires more of your logical thinking. Judging what method or principles you will use in recording things is one of the problems accountant encounters.

`               Complicated, isn’t it?   But being an accounting student is more complicated than being a certified public accountant. So for those students who want to be an accountant someday, and for those who are taking accounting today, here are some tips for you to do well in all your accounting subjects.

A student should:

1. Understand What is Accounting

• Understand the terms – accounting consists of many important terms.
• Understand why –accounting requires logical reasoning. To be able to know why some things are necessary for accounting will make you understand accounting more.
• Know how – accounting course does not just require you to understand why a thing is done, it also requires you to know how it is done.

2. Have Interest in Accounting

• Aim high – Aiming high is what you need to have an interest in anything you do. Knowing the benefits, you will have when you are a certified public accountant will surely make you increase your interest in the course.
• Don’t lose focus – do not let stress and frustration make you lose your interest and attention. Your interest drives your brain to think, but your focus is the one responsible for you to work hard. Never lose your focus on what you aim for.

3. Have a Good Study Habit

• Consume more time in studying accounting – Accounting requires more time compared to some minor subjects you have. Prioritise studying accounting than your other subjects.
• Read with comprehension – reading is essential in accounting. Try to read accounting thoroughly rather than scanning it. Scanning will not work in accounting because every sentence you will find in an accounting book is crucial.
• Be in a good group – joining a group which has the interest as you will work for your advantage. Accounting requires broad knowledge about it, and a group is an excellent help to make you remember your past topics through group discussions.

4. Learn from Past Exams

• Review your past exams – accounting exams are very hard that an average student will surely get a perfect score. Expect mistakes and learn from them. Reviewing every result, you had in the past will give you knowledge in the present topic because accounting chapters/issues are connected. If you do not do well in chapter 1, surely you will not be able to understand chapter 2 easily.

5. Ask Questions

• From your instructors – your instructors are the one responsible for your learning in school. Try to approach them and ask meaningful questions, not those non-sense questions. Let them know which topics you find hard to understand. If you are under a good teacher, fortunately, they will help you.
• From accountants, you know – the best person to ask about accounting are the ones who practice accounting, which is the accountants. Try to have communications on some accountants but be sure to ask questions in their free time. Accountants have a busy profession.
• From your classmates – your classmates can help you. You will be able to find some of your classmates taking accounting quickly. Be close to them and ask questions.
• From your parents – Lastly, ask your parents. Ask them and open up to them what you feel under accounting. They will give you advice which will guide you in the next steps you will do.

Accounting is a challenging course, but if you have or if you follow the tips this article contains, you will find it easy and exciting. Always remember that you can do anything as long as you have the interest and the right perseverance in pursuing it. Never lose hope in anything that you do. Always do your very best.