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.

UPB Pre-work

You Structured Business Coaching sessions

This information will allow you and our Senior Adviser to assess the best way for you to grow your business and develop a solid game plan to make it happen.

1)      How serious are you about growing your own business? (1-10) 10 being most serious and committed to it’s success.

2)      How many hours per week can you devote to the growth of your business?

3)      What obstacles are holding you back or impeding your progress?

4)      Do you have the necessary financial resources to market your business for 2-3 months until a consistent income can be created?

5)      Where do you want your business to be in 1 year’s time? (Number of clients, income, lifestyle etc.)

6)      What strengths do you feel you have that will help you in your marketing?

Assignment:

Re-watch module 4 of the Professional Bookkeepers Program

Re-watch The Universal Practice Builder Program

A QuickBooks Specialist

QuickBooks has more than an 80% share of the small business accounting software market. Because of this, Universal Accounting® has taken the training offered in the Professional Bookkeeper™ program and applied it to the QuickBooks Pro software to provide the skills and experience necessary to become a QuickBooks Specialist.

Becoming a QuickBooks Specialist™ certifies your expertise with QuickBooks. It also demonstrates your commitment to being the best.

With millions of small businesses already using QuickBooks, and the majority of accounting positions with small businesses requiring expertise in QuickBooks, this designation can give you a competitive advantage.

To evidence your expertise in QuickBooks Pro, Universal Accounting gives those achieving a 90% or better score on their QS final exam the QuickBooks Specialist™ (QS) designation. This designation is only available to Universal students of The Professional Bookkeeper’s Guide to QuickBooks.

This designation will distinguish you as proficient in setting up new businesses, working with company files, and consulting in QuickBooks Pro capabilities and issues. It will increase your credibility as a successful freelance bookkeeper/accountant.

Learn Quickbooks and how you can become certified as a .

The Professional Bookkeeper’s Guide to QuickBooks. This is the “companion course” to The Professional Bookkeeper program and dovetails perfectly. Once you’ve mastered the full charge accounting process manually, it is time to learn the most popular and widely used software of small business America. The QuickBooks course will enable you to do so. It is 30 completion hours, and again, utilizes the 3 step educational approach: watch the video lessons online, read the corresponding lessons, and then apply those lessons. You will learn more than 280 technical aspects of the software; you will also complete 8 of the 11 Professional Bookkeeper case studies, by now setting these companies up in QuickBooks, customizing preferences, setting up the chart of accounts, doing the books, payroll, preparing customized financial reports, making adjusting entries, doing quarterly and year end work, converting from cash to accrual systems, etc. You will gain practical mastery of the software which will enable you to do the work for your employer and/or your clients in an efficient and proficient manner. There are 5 modules of learning; practice exams after each module, followed by a final certification exam. With 70% or better, you receive your certificate of completion; with 90% or better, you are certified as a QuickBooks Specialist – another nationally recognized credential.

Universal Accounting’s QuickBooks certification course is the most comprehensive QuickBooks course available today. You will learn over 200 technical aspects of this software. This course will prepare you to teach QuickBooks. There is a vast market for QuickBooks instructors and many of our students do this as their primary focus.

By passing the Universal Accounting Center’s Certification exam at 90% or higher, you will be a certified QuickBooks instructor. As a QS, you can earn $75-$100 an hour teaching QuickBooks to other bookkeepers, for corporations, in your own QuickBooks courses, adult education and community colleges.

Topics Covered
Module I How QuickBooks Works in Your World
Introduction
How QuickBooks Works
Accounting 101
QuickBooks Accounting 101
Mastering Navigation Basics
Getting Help and Finding and Correcting Mistakes
Setting Up a New Company
Modifying and Setting Company Preferences
Introduction to Reporting

9 Hands-On Practice Lessons
QuickBooks Software
Open Companies
Set-up Accounts
Assign Account Types
Installing PB Files
Set-up a New Company
Standard Reports
QuickZoom
See the Difference

Module II Customers & Sales – The Sales Cycle Topics Covered
Creating Customers
Lists in QuickBooks
The Items List
Invoices from Estimates
Invoicing for Time and Costs
Invoicing from Scratch
Money – Receiving Payments and Depositing in the Bank
Troubleshooting Your Customer Management

10 Hands-On Practice Lessons
Adding Customers
QuickBooks Lists
Set-up a Service Item
Set-up Non-Inventory
Set-up a Group Item
Creating Estimates
Time on Invoices
Receiving Payments
Sales Receipts
QuickBooks Deposits

Module III Vendors and Bills – Keeping Your Suppliers Happy Topics Covered
Creating Vendors
Purchase Orders
Entering Bills
Paying Bills
Entering Checks
Checking Account-Associated Transactions
Reconciling the Bank Account
Credit Card Transactions

10 Hands-On Practice Lessons
Adding Vendors
Enter a PO
Enter a Bill
Pay Bills
Enter Checks
Reconcile
City Clothing – Practice Company
Stewart’s Bakery – Practice Company

Module IV Mastering Advanced QuickBooks Topics Covered
Setting up Payroll
Paying Employees and the Government
Sales Tax
Customizing and Printing Your Reports
Customizing and Printing Your Forms
Security – Protecting Your Information
Year-End Procedures
Finding Transactions and Saving Time
The Universal Business Model (From In The Black)

7 Hands-On Practice Lessons
Do Payroll Setup
Invoice for Time
Barry’s Gas and Groceries – Practice Company
Sales Tax Group
City Cycle – Practice Company
C.R. Construction – Practice Company
Year-End Closing

Upon completion of this course, you will take several practice exams. Then you will go online and take your final exam. A passing grade of 90% or higher, certifies you as a QuickBooks Expert. You are now certified to teach QuickBooks and use the designation, ‘QS’.