Doing Accounting is interesting, as it tests one’s reasoning, analytical abilities and logic. Students with mathematical abilities like to learn Accounting, still, they come across practical disabilities in acing the subject.
How to ace Accounting?
Read Accounting concepts to know the ‘why’ of the concepts: Try to understand the basic subject matter by reading and understanding concepts.
Accounting is a major concern for students and many get poor marks due to careless mistakes and wrong entries while answering Accounting questions. Working on certain tips and strategies, students can get over their blemishes in doing Accounting and top the class with astounding scores.
Here are a few tips for you to ace your Accounting exams.
- Read the question carefully: Accounting concepts are broken into topic areas. If at all you read the question properly, you will be able to recognize them and reach out to correct answer.
- Read the question prior to the supporting material: Understanding what the question expects of you is more important than fishing for other information given in the question. Once you understand the demand of the question, you pick up the supporting material without struggle and proceed to give the answer.
- Show all your workings and narrations on the paper: Your thinking might be correct but you may go wrong in calculation or final output. So, show all your workings on the paper for which you may get some marks even if your answer is wrong.
- Include the correct format: While doing a cash flow statement or balance sheet, include the right format and fill in the columns like company’s name, period and sub headings properly. This kind of writing will fetch you some marks even when you get stuck in your answer.
- Manage your time prudently: Divide the exam time by the no of questions and allot time equally to each question. When you get stuck in a question, switch over to the next one and do not stay on the same question.
- Start from the easiest to the hardest: Choose questions which are easy and move on to the tough ones. It boosts your confidence.
- Give up rote learning: Think in concepts and don’t memorize. Thinking in concepts leads to logical explanations and proper answers. This is very essential for Accounting concepts.
- Come back to the basic principles: Whatever be the concepts, Accounting concepts rely on basic principles and you need to be strong in them for mastering the concepts. So, be thorough with basic principles in Accounting.
- Understand that Accounting has a structure: You cannot move out of it and follow that basic Accounting structure to decipher the type of questions in your exam paper.
- Check your calculations: Lots of careless mistakes occur in Accounting problem solving. Check them for correct answers and better scores.
Online Accounting tutor from EduNiche can give more tips for helping you pass Accounting exam with ease. His Accounting homework help is a further support for you to come out of your crucial hours in Accounting exam prep and face the exam with confidence.
With their analysis, prediction and focus on future prospects of a business organization, accountants take a major role in developing the financial status of a business organization and prove themselves indispensable to the organization. They strike the key note in improving the scenario of a business organization with their special skills.
To be popular in the accounting world, any accountant needs some basic skills like organizational ability, time management, logical thinking and a bit of creativity along with analytical capabilities, communication skills and leadership qualities. All these skills are the root cause for the potential success of an accountant in the business world.
How to inculcate the quality of a good accountant?
Stay organized: It is not that difficult to inculcate all the above mentioned qualities once a student aspires to be an eminent accountant right from his middle or high school. He can start imbibing organizational quality by arranging his study notes, planning day’s lesson and marking important dates and events in daily calendar. For doing so, he can use markers, high lighters, planners and other such things and stay organized in his work.
Time management: An accountant has to furnish details on time to help an organization keep an eye on the various factors that lead to its growth. In such a case, he has to present details on time with his related statements to help the management go in the right track for managing situations.
Communication skills: Open and honest remarks about the situations that affect the growth of the company should be stated in clear cut terms by an accountant.
Leadership quality: To help the organization analyze a situation with pros and cons needs leadership quality, combined with analytical skills with a focus on future happenings.
All such skills can be developed right from the start if a student associates himself with an online Accounting tutor from EduNiche and makes a great entry into the accounting world for a successful career.