Question

According to me, Accounting is a business foundation tool that is most essential in all walks of life including Reconciliation (verify expenditures to be correct), risk management, Tax accounting Budget planning (making sophisticated plan to spend money for everyday needs and saving for future needs) that should have its bookkeeping done. Learning accounting expertizes one with different types of financial statements namely: Balance sheets, income statements, cash flow statements and statement of changes in equity. These statements should be learnt in Excel and its an amazing analytical tool to survive as a successful businessman be it in any sector.

For me being a woman and to survive in this man dominating world (perhaps biases are never to be missed out in a working environment), accounting acts as a degree of advancement in all aspects of finance and accounting techniques that wouldn't let one look down or repent for choosing me for the opened opportunity in the real world. Awareness in Accounting tools especially GAAP (Generally accepting accounting principles) will let me be successful while I will be able to understand and interpret numerical and statistical data efficient and effectively. As the main requirement will matter about focusing past records and analyze the future reports, having learnt the accounting skills, I will possess potentiality in encompassing planning, effective decision-making, reliable stewardship and thus being capable leader in the hierarchy.

Please replay to this post please let me know your thoughts

Answer 1

I TOTALLY AGREE WITH YOUR POINT MAM.EACH POINT STATED BY YOU ABOVE IS VERY CORRECT AND GENUINE.ACCOUNTING IS A TOOL WHICH CAN BE LEARN BY ANYBODY WHO DESIRES TO LEARN SO.IT IS JUST A SIMPLE PHENOMENON WHICH REQUIRES THOROUGH UNDERSTANDING AND CONCEPTUAL KNOWLEDGE.AND DEFINITELY ACCOUNTING THROUGH IT'S VARIOUS MODE LIKE GAAP ETC GIVES AN EQUAL OPPURTUNITY TO EVERY INDIVIDUAL TO STAND EQUALLY IN THE WORLD OF NUMBERS AND FINANCE.

NOT ONLY ACCOUNTING MAKES AN INDIVIDUAL EFFICIENT ENOUGH TO HANDLE ANY FINANCIAL DATA BUT ALSO IT MAKES AN INDIVIDUAL UNDERSTAND THE IMPORTANCE OF NUMBERS AND FINANCIAL REPORTS SO THAT AN EFFECTIVE FINANCIAL DECISION CAN BE TAKEN.AND FINANCIAL DECISIONS ARE THE MOST IMPORTANT PART OF INDIVIDUAL'S DAY TO DAY LIFE.ACCOUNTING IS THAT TOOL WHICH WILL HELP IT'S USERS IN TAKING FINANCIAL DECISIONS AND ALSO AT THE SAME TIME ENSURE THAT SUCH DECISIONS ARE EFFECTIVE, RELIABLE AND ULTIMATELY LEADS TO SUPERIOTITY IN THE LONG RUN.