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.
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.
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.