All About Color Accounting Course and The Benefits

It’s time to improve the communication skills of accounting professionals and the understanding of business management as it relates to the accounting business model.  It’s time the accounting information becomes useful to business owners to help them make more informed decisions.

 

Color Accounting is a technique that uses color and a tactile model to improve financial literacy by connecting the principles, meaning, and application of accounting data. Other studies have found a substantial relationship between color, attentiveness, and memory recall. You may also opt for other Universal Accounting Online Courses for better guidance and information.

Color Accounting

 

Instead of replacing this technique with a three-color balance sheet-income statement (“BaSIS”) storyboard and color-coded “buckets” (accounts) and “tickets,” Color Accounting is innovative in that it does away with explaining how accounting works using debits and credits (transactions). Transaction tickets are assigned to bucket accounts based on how they influence the buckets on the storyboard. Accounting topics are taught in this fashion, using color and tactile objects to help students visualize the logic of money flows.

 

It’s a highly effective accounting training curriculum that employs real-world situations that managers can readily connect to. It’s the approach that’s been shown to turn non-financial managers into confident masters of the financial fundamentals in only one day worldwide. The presentation is also a lot of fun, and at the end of the day, you’ll have a solid working understanding of fundamental accounting principles that you can apply daily.

 

Color Accounting is a teaching approach that uses diagrams and logical colors to illustrate how accounting and business operate graphically so that everyone can make better decisions. These are some of the advantages:

 

  • Fluently read and understand financial statements.
  • Engage confidently in financial conversations – asking powerful questions and improving communication, and reducing misunderstandings.
  • Truly understand the mechanics and language of accounting and finance use by professionals.
  • Confidently make sound decisions more quickly.
  • Create budgets that work and guide the delivery of results.
  • Impact the organization by meeting its financial goals.
  • Share the mindset of colleagues, clients, and the CEO to gain credibility as a trusted, business-savvy team member.
  • A clear framework for the structure of financial information
  • A robust understanding of the mechanics of accounting 
  • Fluency in the language of accounting and finance
  • Enhanced business understanding, based on The Value Cycle of Business

 

About BaSIS Framework

 

Almost all resources are based on the Color Accounting Course visual system and illustrate important topics using the BaSIS Framework. The Framework provides accounting comprehensively on a single page, with logical color-coding. There are several advantages to having both the Balance Sheet and the Income Statement in one view…

  • During explanations, the lecturer or students might point to it (portability)
  • It is simpler to assist in resolving frequent misunderstandings, such as the mistake between cash and income.
  • When studying, using color instead of the phrases debit and credit makes the logic of debiting and crediting obvious, requiring less rote memory.
  • Combining visual, aural, and kinaesthetic learning modes to increase speed and depth of the intake.
  • It’s simple to observe and comprehend the distinctions between balance sheet and income statement accounts and sub-accounts.
  • The language becomes more visible: words are presented more clearly and defined in terms of what they are and are not.

 QuickBooks Specialist

You will learn the language of business and apply it to business choices with the Color Accounting Course program in Universal Accounting. Understanding the foundations of accounting will provide new insights into how organizations operate, and your connection with financial data will be altered. They also have an exclusive program of QuickBooks Specialist Training. Have a visit straight now.

How to Learn Accounting without an Accounting Background?

When it comes to business concepts of sales, purchases, and overhead, the first thing that comes to mind is accounting.  Accounting aids in making informed and strategic decisions that help in businesses grow in the right direction and at the right time.

As a subject, Accounting may be considered quite tough to grasp as it requires meticulous financial recordings and tedious ledger management, coupled with complex concepts that need intensive practice. While this is true to some extent, learning accounting is not impossible as it is based upon basic math skills. With our comprehensive and easy-to-learn accounting guide, you can get started and manage your business details and finances or get your dream job.

 

Capitalize on E-Learning Programs and Online Courses

In this digitally advanced age, everything has evolved. Now ordering food is just a click away, entertainment modes have become immensely diverse, and even education has shifted to online mediums. So, why not avail the opportunity and get started with any of the e-learning programs offered by numerous well-known schools, universities and colleges.

Learning online is more convenient than the conventional college-going experience. The world is now a global village with no boundaries, and any prospective learner from any educational background can enroll in their desired e-learning courses. These online programs are well developed as per modern market needs, ranging from basics to advanced levels. Therefore, take advantage of the opportunity and build your skills by learning from famous institutions like The University of Michigan, Udemy, Coursera, MIT, and many more that too free of cost!

For accounting, the options are simple with courses like the following to consider:

Choose a Suitable Learning Method

Several learning options like online learning, YouTube videos, e-learning diploma programs, and onsite learning are available. But, every prospect has its pros and cons. One must pick the most suitable medium as per our requirements. So, before selecting any accounting learning programs, one needs to consider the following factors:

  • When it comes to learning supplementary skills like accounting, computer basics, language, or any soft skills, budget is one of the significant factors that impact the preferences of aspiring students. E-learning programs are very cheap, and most of the time, fundamental courses are less costly. So, select your desired lessons as per your learning requirements and budget.
  • Analyze and decide beforehand the key gains that you desire from your accounting course and keep track of your learning and professional outcomes even during as well as after the completion of your online course
  • Management is the most substantial aspect of after-college learning or supplementary education. So, organize your calendar accordingly to avoid any inconvenience.
  • Knowing your optimal learning style and habits is also crucial. Some people are good kinesthetic learners, while some are auditory or visual learners. So, select courses as per your learning styles to connect with like-minded peers. This approach will amplify your learning capacity manifold!

Follow the learning method compatible with your coveted outcomes, budget, learning style, and schedule.

 

Devote Time to Learning

Irrespective of the learning methodology you choose, devote ample time to it. Accounting concepts construct gradually, so investing enough time in deep learning each topic is crucial to building a conceptual foundation.  Avoid rushing while learning basics as a strong foundation needs clear concepts. Keep practicing accounting problems daily as that will enable you to progress toward your desired educational goal.

 

Concentrate on Real-World Application

Keep in mind that learning accounting equations and principles does not require memorization. Accounting is the game of practice, so always apply your understanding to real-world problems. For instance, online accounting courses incorporate a case-based teaching methodology that provides the students with an opportunity to take on real business problems and real-world challenges.

Furthermore, attempt to recreate scenarios that you might have experienced during the course of your career. Applying concepts and equations to subjective experiences can help learners connect with real-world problems and practical solutions. It is also significant to understand accounting is not something one can understand overnight; it needs time and repeated practice.

 

Do Network with Accounting Professionals

When we connect with the peers and professionals from our relevant field, it gives us more analytical and practical insights about the subject. Such communities not only help hone our accounting skills but also provide motivation and support. These accounting networks are supportive platforms for newbies as they have also experienced similar challenges in the past and are open to helping others through their accounting journey. Along with professional growth, accounting networks also develop a community spirit and sense of belonging amongst online learners.

 

Wrapping Up

Whenever we learn a new skill, the most notable aspect is to take control of that learning. Before taking on something that is not quite compatible with our educational background, degree, and experiences, we need to put aside the inevitable fear and be prepared to move outside our comfort zone.

Learning the fundamentals of accounting will not only help you diversify your skillset, boost your confidence and performance in organizations but will also assist you in making more intelligent decisions. Therefore, whether you want to supervise your finances or are interested in pursuing a book-keeping or an accountant job in your dream organization, learning and practicing the basics of accounting can help get you started.

Now, consider the perfect solution for you to excel in your accounting career and get paid what you are worth.

Author Bio: 
Maliha Safiullah is a Former Correspondent for 60 Minutes, Channel Nine Australia and is a published writer having worked as a Feature Writer for Dawn News, Pakistan.

The Advantages of Virtual Bookkeeping

Virtual bookkeeping means freedom and efficiency; freedom from client visits and having your tools of the trade close at hand.

If there is one thing we learned from the 2020-21 Pandemic is that effective work can be done without a commute and travel.  We all became adept at using online communication to do our job and maintain relationships.  This, of course, includes providing bookkeeping services.

So, how is it done?

First, I’m assuming you are a trained bookkeeper with accounting software.  Although QuickBooks Online (QBO) isn’t the only software to use, it is one of the better ones that can be mastered as a QuickBooks Specialist.  It permits downloading transactions from the client’s bank account directly into the software so that you don’t need to rekey much of the data.  The software is even able to assign a category to common charges and income items.

Getting the source data and backup is probably the most complicated process.  There are a few things you can do:

1)      For income, as much as possible, the process should be computerized in a fashion that you can access.  If that’s not possible, a snapshot will work.

2)      For expenses, train the owners and anyone that works with invoices/credit card charges to send you a snapshot of any documents.  These pictures can be attached to the QuickBooks charge as backup.

3)      If you will be preparing the payments to vendors, have the invoices sent to your address or emailed to you.

Once all the information is entered into the accounting software, you can print all reports into a pdf document and email them, as an attachment, with a note of their contents, concluding with an invitation to call you if the client should have any questions.

Using a document management system to exchange documents and pictures, such as eFileCabinet will reduce paper and time.

Having an in-person meeting once a quarter is a nice touch, if practical.  This will enable you to sell your services, seek any recommendations for new clients, and refresh your professional relationship.

To learn more about how to start and run a successful virtual bookkeeping business, be sure to check out Universal Accounting’s Professional Bookkeeper program as well as the Virtual Bookkeepers Roadmap.

Avoid Holiday Stress

holiday-stress2‘Tis the season to stress out—fa-la-la-la-la.  Really, wouldn’t it be better to manage the seasonal stress so that you can enjoy the holidays?  Here we share 7 tips designed to help you better savor the holidays by managing the stress that’s often associated with them:

1. Be positive Often you can think away your stress.  When you change your thought patterns and continually repeat positive affirmations, like “I have plenty of time to prepare for Christmas” or “I am feeling calm and relaxed,” you increase your capacity to manage difficult situations.

2. Exercise This is an age-old stress-relieving tactic.  It releases endorphins in the bloodstream which will enable you to feel more energized.  It releases serotonin in the brain which will enable you to be more alert.  It increases your body’s immune system which will enable you to better fight illnesses, both small and large.  And last, but definitely not least, exercise is a natural relaxant that will alleviate stress.

3. Avoid over-scheduling. Professionals have the tendencies to over-schedule.  This can be especially stress-inducing during the holidays.  Be realistic about your schedule and only plan for those things you have designated as priorities.

4. Delegate. When possible, delegate tasks (both professional and seasonal).  Your family will probably be more than willing to help if it means they can spend more time with a less stressed you!  Consider simple tasks that don’t require your knowledge or expertise (filing, organizing, mailing, etc.)

5. Don’t sweat the small stuff. Prioritize your projects and determine what you can and should let go.  When dealing with stress overload, you need to be able to focus on what matters and put the rest on hold, especially during the holidays.

6. Anticipate changes in routines and schedules. Due to all the holiday parties, recitals, programs, etc. it can be more difficult to schedule meetings with your clients in the next couple months.  Rather than become frustrated, anticipate the change in routine and be prepared with a back-up plan.

7. Schedule down-time. It is, after all, a time to enjoy your family and friends. While it may not seem like you have any time to spare, it can be extremely rejuvenating to take an hour or two and do something relaxing with your family.  It also can give you the perspective necessary to balance your personal and professional lives over the holidays.

The holidays can be a stressful time for everyone, but managing that stress is key in whether or not you actually enjoy the celebrated season.  This year take time to manage your holiday stress instead of allowing it to manage you.

QuickBooks Made Profitable

Knowing how to make the most of your accounting software could save you hours of working on the computer.  Consider purchasing Universal Accounting Center’s QuickBooks Made Profitable (QBMP).  For next to nothing you can use your QuickBooks expertise to attract more clients and increase your bottom line!

80% of small businesses use Intuit’s QuickBooks software.  Once you complete QuickBooks Made Profitable, you will be able to use our proven system to attract more clients with your QuickBooks expertise.  Not only that, but when you add QuickBooks setup, help and consultation services to your menu, you enhance your financial service offerings and widen your customer appeal.

Take advantage of this marvelous opportunity to eliminate some stress and increase your bottom line.  Call Universal at 1-877-833-7909 to order now!