Accounting For Aspiring Dummies

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Importance of Basic Accounting

Basic accounting is really very essential even if your course is not in accounting. Why? Of course with basic accounting, you learn how to budget your money, check prices and of course plan for the future. Learning basic accounting is a stepping stone until you go advance and learn more about bookkeeping solutions where you are about to learn accounting through the use of software like Quickbook.

Some schools like University of Technology teaches basic accounting to students who take up Bachelor of Science in Information Technology (BSIT). So accounting is not just for people who are taking courses in Business Administration and Accountancy. It is for everybody. How wonderful.

Do you also wish to have a second course aside your present course now? Then learn basic accounting.

Types of Accounting

Accounting comes in many types according to Accountingtools.com. Whether you are a certified public accountant or not it is still important that you have knowledge of these types of accounting.

Financial Accounting – This type of financial requires knowledge of financial transactions in doing a summary report, analysis especially cost-benefits, and any reports related to business. In this type of accounting it is important that you know what we call Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standarads (IFRS). This focus more on decision making purposes for employees, business owners, government agencies and many more.
Public Accounting – This type of accounting is a field of accounting available for CPAs. Financial Statements are reviewed, prepared and audited for clients. Public Accounting involves many people in charge (staff, senior, manager and partner)
Government Accounting – Examples of this are the work of a Bureau of Internal Revenue (BIR) since they are part of the government agency.

Forensic Accounting – This type of accounting is about reconstructing financial statements that are not complete. This involves reconstructing businesses which has been destroyed.
Management Accounting – This is available for students taking Business Administration courses where they can work as a clerk in a company.

Tax Accounting – Tax regulations, tax fillings and tax planning. Crimes such as tax evasion are identified in this field.
Internal Auditing – Helps spot any fraud and dishonest ways in doing a business. This can be recorded in a Ripoff Report.
Learn More Accounting

With Accounting you will be very good in your math class. Math will be so easy to understand. Learn more!


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