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Salman Abdulrzazade – Leading specialist / accounting expert / trainer
In the explanatory dictionary of the Azerbaijani language, the word “accounting” is defined as the theory and practice of record-keeping. In other words, it is characterized both as a field of science and as a practical profession. Initially, accounting began to develop as a practical activity. As a science, accounting has its own principles, subject, and methods. Practical accounting and its scientific methodology develop together and complement each other. In this article, we will briefly try to answer the question: “What is practical accounting?”
What is practical accounting?
At first glance, accounting may seem complex and confusing to beginners. However, in practice, this is not the case. It should also be remembered that the emergence and development of accounting are closely connected with human practical activity. Accounting theory was formed and developed on the basis of the achievements of practical accounting. So, what is practical accounting, and how can it be learned?
Practical accounting is a strictly regulated system for collecting and summarizing information about an enterprise’s assets and liabilities in monetary terms. It is a complete and continuous flow of documentation that records all business transactions as they occur.
Practical accounting is a strictly regulated system for collecting and summarizing information about an enterprise’s assets and liabilities in monetary terms. It is a complete and continuous flow of documents that records all business transactions as they occur.
Accounting is a universal business tool. Its universality lies in the fact that, regardless of the field of activity, it allows economic events in any enterprise to be easily analyzed and compared. In this process, a single unit of measurement is used for everyone — money. Employees who know how to use this tool are called accountants, and they are considered key figures in a company.
To become a professional accountant, it is important to gain accounting experience, take part in training programs offered by various accounting courses to find an answer to the question “What is practical accounting?”, and receive practical accounting advice from experienced specialists.
How can you learn practical accounting from scratch?
Accounting covers all areas of a company’s business activities, so the range of knowledge and skills that a practical accounting specialist must master is quite broad. Naturally, it is difficult to learn all of this in a short time.
In general, there are two main ways to learn the basics of accounting and practical accounting:
Regardless of which option you choose, in the end you will find an answer to the question “What is practical accounting?”
For beginners, accounting may seem complex and confusing at first glance. However, in practice, this is not the case. To understand what practical accounting is and to learn accounting from scratch, a future accountant can choose one of the following paths:
- study independently by downloading books or textbooks on practical accounting from the Internet;
- find a job as an accounting assistant or junior specialist, gain hands-on accounting experience, and receive practical advice from more experienced colleagues;
- participate in training programs offered by practical accounting courses designed for beginners.
Keep in mind that each method has its own advantages and disadvantages. Let us look at different situations and approaches in more detail.
Learning accounting independently
To learn practical accounting on your own, you can search the Internet for phrases like “accounting for beginners” or “accounting textbook.” This method has both advantages and disadvantages.
Advantages include:
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free learning materials;
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open access to legislation, standards, and regulations;
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the ability to choose your own study time.
However, the disadvantages are more significant:
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it is not possible to gain real accounting experience, as free materials usually contain only theory, while practical accounting tasks are mostly offered on a paid basis;
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there is a risk of learning outdated or incorrect information, and the practical accounting advice you find may be useless;
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accounting legislation changes regularly, and materials downloaded from the Internet may not reflect recent updates;
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there is no official certificate confirming that you completed an accounting course from scratch, which may create problems when looking for a job.
This method helps you become familiar with the theoretical basics of accounting, but it answers the question “What is practical accounting?” only partially.
Learning by working as an accounting assistant
Beginners can learn accounting by finding a job as a junior accountant or accounting assistant. This is often considered the most optimal way, because there is a chance to earn a salary. However, it is not as easy as it seems.
Advantages of gaining accounting practice as an assistant include:
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training in accounting basics is free once you are employed;
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you gain basic knowledge and learn how to apply it in practice;
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you can earn a salary while working and learning at the same time.
This option also has several disadvantages:
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there are not many such job opportunities in the labor market;
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it takes a long time to gain sufficient knowledge;
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strong dependence on a mentor;
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training is usually limited to a specific area of work.
In addition, assistants are rarely trusted with solving real and complex problems. They are usually given small technical tasks. At the same time, the workload can be quite high compared to the level of income.
Professional accounting courses
The easiest and fastest way to learn accounting professionally, especially for beginners, and to fully understand the question “What is practical accounting?”, is through a specialized training center. This option offers many advantages:
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a short training period;
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course programs that are always up to date;
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a diploma, certificate, or official proof of additional professional education;
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learning not only theory, but also real practical skills.
Professional accounting courses teach you how to solve complex accounting issues using real examples. These include accounting policies, primary documents, payroll calculation, taxes, financial reporting, and more.
The main disadvantage is that professional courses are paid. However, there are ways to save money, as some training centers offer discounts for beginner accountants.
In conclusion, we have briefly tried to answer the questions “What is practical accounting?” and “How can accounting be learned in practice?” If you have additional questions, you can contact us. Knowledge grows when it is shared.
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