More and more people want to master accounting on their own from scratch. This allows you to get a prestigious profession at no extra cost. However, it is quite difficult to become an accountant without outside help. If you have problems while studying, you can always get assistance from an accounting homework helper on special services. In this way, you can make your learning process much easier.
Let’s analyze all the pitfalls of self-study of accounting and taxation.
1. Self-training of an accountant: the myth or reality
Self-study these days is a real opportunity to understand a topic. Moreover, the Internet and educational literature allow you to receive information in real time. However, is it possible to study accounting for free and on your own?
Accounting is not super complex science. It is quite possible to understand the nuances of financial accounting and taxation without outside help, but not everything is so simple. First, self-study of accounting requires thorough preparation. Most likely, you won’t be able to open a browser and start learning to account. You need to:
- find a high-quality free course
- check its relevance
- make sure that the author’s style is simple and clear
- check for practical topics.
And when the best option is found, you can start step-by-step training in accounting. However, here, too, there are many difficulties.
2. Disadvantages of self-study of accounting
Up-to-date programs and open access to the Internet make it possible and simple to self-study accounting and free of charge. It is quite possible to understand the nuances of accounting in an enterprise if you follow the instructions and recommendations of experienced teachers. However, anyone who wants to start learning accounting from scratch should know about all the disadvantages of this method.
3. Lack of practice
If we compare the option of learning accounting in a specialized school or institute, with self-study, then the very first and significant disadvantage is the lack of practical skills. You can independently understand the theoretical basics of accounting and taxation, but how to apply knowledge in practice?
Naturally, a beginner will be able to learn something on his or her own. For example, he or she can understand the intricacies of drawing up accounting entries and the double-entry method. The beginner can even understand how to fill out a tax return, but applying this knowledge in practice will be problematic.
Not all educational centers are ready to offer practical accounting courses; you should find the one with a practical approach.
4. Lack of education diploma
Let’s say a school graduate has completed full training in accounting on his or her own; he or she is ready to start work. However, how will employers react to it? After all, he or she does not have a college or university diploma, and there is no other evidence of knowledge and accounting skills. Most likely, such a student will not be able to get a job in the desired position. Of course, the employer can offer another job, for example, an assistant accountant. But the salary will be much lower, and the duties of the assistant are not always about accounting.
In exceptional cases, the employer can reciprocate the newcomer and conduct an examination. That is, to test the knowledge and skills of the candidate for the position of accountant. However, nowadays, this happens extremely rarely. More and more employers require applicants to have a qualification certificate or an accountant diploma. And this is correct because working with cash flows requires knowledge and skills.
5. Difficulties in finding a job
A person who has completed accounting training from scratch on his or her own is not in demand in the labor market. The reason is the same. The employer does not have any confirmation and guarantees that the candidate has the necessary knowledge and skills.
It is enough to complete regular accounting courses and receive a certificate. And as you understood, when studying accounting on your own, certificates are not issued. A newcomer will either have to work as an assistant for several years to get a promotion or pass courses.
6. Obsolete knowledge
Self-study of accounting does not give any guarantees, absolutely. The problem is that accounting and tax legislation changes with enviable consistency. For example, in 2020 alone, there were many changes in accounting and taxation rules, including for the coronavirus.
With self-study, you will be able to understand accounting; systematic training allows you to understand the basics. However, it will be very difficult to solve practical problems.
7. How to learn to account: step-by-step tutorial
In the standard case, the step-by-step training in accounting consists of several sections that should be studied in the prescribed sequence. All knowledge is closely interconnected with each other; from one term, the concept of another is formed. If you skip a stage, then the chain of knowledge will be broken.
Usually, accounting training from scratch is independently carried out in the following order:
- What are the objects of accounting?
- How to understand the double-entry method.
- What are the assets and liabilities of the enterprise?
- Balance sheet – equality of asset and liability.
- Accounting accounts, debit, and credit. The procedure for drawing up transactions.
- What are the primary accounting documents and the requirements for them?
- How to draw up accounting registers and accounting journals.
- Tax and accounting reporting.
Now you know how to learn accounting from scratch and what pitfalls may await you. Don’t worry – you can become a good accountant. You need to study all materials carefully and not be lazy. Good luck!