Search This Blog

Thursday, 21 June 2018

8 dynamic ways a student can improve his/her accounting concepts.

1. Enhance your knowledge of what to debit or credit.

 The best way to develop your accounting concepts is to start from the scratch. One must enhance his/her basic knowledge of debit/credit to the optimum. For the improvement of his her accounting concepts. Accounting is all about concepts and the only way to develop these concepts to the optimum is to practice them regularly.

2. Practicing of journal entries.

When it comes to journal entries most accounting students take it as a piece of cake and to some extent they are not wrong. Journal entries are not very difficult to conceptualize but are very important. Journal entries are the most effective way to enhance your  knowledge of what to debit or what to credit. Which is most important to improve your accounting concepts.

3. Proofread before practice.

Whenever you start to practice accountancy questions of any kind. For say (journal entries, Ledger accounts or financial statements). Always read all of the mandatory information properly. Proofreading plays a very important role in the solution of a question and it also develop your accounting concepts by developing your sense of interpretation of accounting problems.
“Don't read more or read less, but read right”

4. Find more Complex questions to practice.


Practicing of same kind of questions with equal level of complexity, again and again will not benefit you enough rather than practicing of more Complex questions. When accountancy students faces complexities to a greater extent in a question and solve them accordingly. It doesn’t  just develop their interpretational skills but also increases their knowledge of debit and credit and not only that but it also helps them to solve other kinds of questions efficiently. For example ( If a student faces a very complex question of journal entries. The complexities of this question will eventually help him in preparation of Ledger accounts, Trial balance, etc.

5. Don't just listen but understand your lectures.

For some listening to a long lasting lectures may be annoying, but this is the worst strategy for an accounting student. For development of great concepts in accounting one should pay his maximum attention. when these concepts are being explained to him/her in the lectures because when you start to practice these concepts. The only thing that will help you through the question are the lectures that you got when they were being firstly explain to you during the class.

6. Take important notes in the class.

As listening to your lectures carefully is important, taking important notes from that lectures is also a very important step. While revising, sometimes students could not remember all of the concepts that were being explained to them in the lectures. This is where the notes from the relevant lecture saves the day  for them.
Remember in accounting you do not need to take notes from all of the words spoken in the lecture, but only the important concepts that you think will trouble you in your vision are worth noting.

7. Keep asking questions.

Some students prefer asking questions in the class and some don’t. In accounting you can not prefer not to ask question. Asking question during the lecture is the best strategy one could adept for the development of accounting concepts because if you have 10 questions in your mind during the lecture. Later, you will have 100 questions related to the same lecture while revising or practicing. So keep asking questions whether you think they are beneficial or not, but always clear your confusion.

8. Be consistent.

Learning accounting or any other subject with consistency is the key to success. Even if you are not briefly prepared or don't have the proper knowledge of the subject. Practicing of the subject with consistency will do the trick for you.

1 comment: