Is Accounting hard in real world?

Question

I graduated with accounting degree. It's been a year and I have forgotton a lot of it. Is Accounting hard in real world? I have no practical experience.

Answer 1

It's not that hard.

You won't believe it, but your new employer won't expect you to know very much at all. They'll train you in what their processes are, and then after a while you'll start making the connections between what you learnt and work.

If I were you, I'd doa quick review of some basic accounting terms to refresh your mind, and you need to understand the accounting formula (A - L = E), and also understand the DR and CR relationships is fundamental (e.g. that an increase in an Asset is a DR, a decrease in an Asset is a CR, an increase in revenue is a CR, etc). Also refresh what goes into the P&L, such as what makes up Gross Margin versus Operating profit.

Don't stress. There is going to be plenty of time to learn on the job.

p.s. I've known a Financial Controller with a CA qualification who didn't know that Head Quarter overheads does not go into gross margin.

Answer 2

I used to do a little, back when personal computers were new, and I would help people set up accounting packages on them. That part was quite easy, really.

The last one I did was to fix a problem a certain businessman had with his books. He described what he wanted, so I adjusted the accounts to match. "Can I see how it will work in a different way?" he asked and I was happy to tell him that that particular package would let him preview several ways before settling on one. So I made adjustments with a different emphasis. Then tried another way, then another.

"So which one do you want me to keep on your computer?" I asked.

"All of them" he said. "The first one is for my partner, the second for my banker, the third for the IRS, and the fourth for me."

I was handling a small database for a small government service contractor a few years later when they were having trouble keeping accountants. It seemed that the CFO was a CPA with an MBA from a prestigious east coast college, but the high school drop out owner of the company let his wife, also a high school drop out, redirect the CFO's work. When they looked at me to fill in for an accounting vacancy, I played dumb like I hadn't a clue.

Otherwise, the jobs are often stressfully meticulous but usually boringly easy for those trained in the art.

Answer 3

it relatively is frustrating in that diverse subject concerns arise and you may determine the way it impacts the financials. You do could be speedy, be a concern solver, be a perfectionist, and know your debits and credit. you will prefer to be waiting to become responsive to while something isn't real, so which you may nicely known it o.k.. The vendors are going to anticipate you to be the professional so it relatively is important which you reside one step forward and be waiting to answer each and every question that they might have with reference to the financials. I say it relatively is tough and that's no longer for each man or woman. you may relatively like it to truly need to take the household projects. you're relatively coping with the agencies existence line - the money!