How to Appreciate Accounting

Let us do accounting!

Well, some of us perhaps get too quickly upset or bored whenever accounting subjects come to get our way.  It’s a normal thing but we never realize that in our everyday life we do some accounting of our expenses, how much is owed from us or how much we owe to our classmates or our co-workers or even to our parents and friends.  Accounting may give you some headache but it does give you some benefits.  Those people who have knowledge in accounting have more advantage over those people who know nothing about it.

I am giving you some of the ways to appreciate accounting. Let's count one to three!

ONE  If you are a business administration student and later on you will be applying for a job after your graduation, most businesses would require you to do accounting work.  As the saying goes, “sacrifice is temporary but success is forever”.  You should always remember that the sacrifices that you experience right now will pay off soon and studying accounting is sometimes an arduous task but you soon later on understand its importance.  Be resourceful, read your accounting books, watch a youtube video or browse the accounting topics on the internet those which you are not familiar of.

TWO Do not think so much of the difficulty of accounting, think on how you can solve that difficulty.  We know that if we are focusing so much on the problem, we cannot really see a clearer view on how we can solve it.  In accounting, whenever you are given a problem to solve, what you need to do is to go back to the basic accounting principles.  The basic principles of accounting will be your guiding light.  Review the revenue and expense recognition principle, historical cost principle, matching principle etc. (even the fundamental concepts such as periodicity, stable monetary unit concept and the entity concept.)  If you are unfamiliar of these principles you may search the internet or get a book and remember their meaning.

THREE  Lastly, (this I consider as the best among three), apply accounting to your real life.  What if that accounting situation really happened to you?  What would you do?  Well, I personally, as a professor in accounting usually takes it as a technique in teaching my students the principles of accounting.  I do not have a hard time in explaining to them once they can relate.  And they can relate only when the same situation could happen to them on real life.  That makes accounting interesting to them.  Some say that if you really know something, you can be able to share it.  You can begin sharing what you know to yourself first and you can do it by applying it into your own life.

Well, these are just suggestions which you can do in order for you to appreciate accounting.

You cannot appreciate something which is not familiar to know or you know nothing about.