Accounting SUCKS!?

Question

can anyone give me some tips or pointers for accounting, right now im taking accounting 1 and 2 and it seems so hard, im a very good student and i have a 3.85 gpa, but this accounting is a nightmare ;('''

Answer 1

Basic rules for accounting.

Memorize the rule or formula, memorize when you need it, do not try to "reason" with it. Do not try to logic it out, just use the rule when you need to.

Follow the dollar. Use T accounts whenever you need clarification (gawd, I hope they still teach you T Accounts) then plug cash into most any other category to decide what to do with an item. For example, a company sells an item on credit. Take the basic thought with this, a company sells something, they get paid cash for it. So in your T account, debit "Cash" (positive entry, cash coming in the door) credit Sales. To record the same sale but this time the customer put it on credit instead of paid cash you would make the same exact entry, but change your Cash account to the Accounts Receivable.

Payables/expenses the same way. When you buy something you spend cash, the T account would be Credit Cash, Debit Expense. If you buy it on credit or on account, then you would Credit Accounts Payable, still Debit the Expense.

That is the basic, if you need help with the T Accounts, drop me a line and I will try to get you some info that would help.

Answer 2

Accounting Sucks

Answer 3

I thought accounting was hard too at first, but when you really think about it, it's quite simple. It's pretty much taking a number from one column and putting it into another column. That's really all it is. Some pointers would be to take a deep breath and don't over analyze it too much (like I did). I can tell by your GPA that you are a smart cookie. I believe that you have what it takes to kick accounting's behind!

Answer 4

Not sure what 1 and 2 are in this case since one would normally take 1, then 2. If that is the case, and you are taking simultaneously, that might explain your confusion. Once you learn the basics, the rest will make sense. Forget what you know abot "debit" and "credit"--a lot of people get these real-world terms confused with their use in accounting.

There is some cheap "learning" software for math and/or accounting that might help you. Sometimes it just helps if someone explains it in a way you can understand (been there).

GEM gave you some good info.

Answer 5

I took accounting back-in-the-day... it only started getting better when I got the guts to get go ask the teacher for help. If you are having a hard time... get help now rather than later. Accounting is a passable subject matter... but sometimes we need a little one-on-one to get us on the right track. Good luck.

Answer 6

I don't know what accounting 1 and 2 are...can you tell me exactly what kind of accounting stuff you are learning?

Answer 7

Just think of it as finding a missing piece for a puzzle, because it always matches out & don't forget the thrill of balancing! Or if you want a more practical advice, just do a lot of practice & exercises. When you do that, sometimes you just get it even though you don't really understand why.

Answer 8

im doing my takehome midterm RIGHT NOW..a couple of weeks ago i asked a ? on here about accounting and got some really helpful answers....what ive learned SO far is NOTHING grrrr...im sorry i cant help but look under my questions for the accounting one(there are two ?'s- only one got real responses) read the answers i got, they may help =0)

Answer 9

Accounting is boring. Don't do it!

Answer 10

what kind of accounting are you doing?