Accounting Is Not a Difficult Subject to Study

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Accounting is not a difficult subject to study, and is easy to learn. Accounting is just some simple mathematical computation that we have already been using since secondary school. It is become complicated as more records and information is entered but the basic mathematical operations of multiplication, addition, subtraction and division are still the fundamental things that all accounting is made of. The major secret to study accounting is remembering that it is a cumulative study subject based on the first few chapters. Each chapter builds on the previously learned concepts and procedures. The accounting course is organized so that we study the most fundamental and essential concepts and procedures first, then we will be required to build on these concepts and procedures. To study accounting, we must master the first five chapters. These few chapters are the basis for the next chapters. When we run into difficulty, it is generally because we have either forgotten the earlier material or have not study it well enough to move forward. There are many common advantages of the knowledge that we have gained from this course. Some of the advantages are accounting replaces human memory, accounting helps in knowing profit, accounting helps in knowing financial position of organization, accounting helps in knowing list of creditors and debtors, accounting helps in paying taxes, accounting helps in raising more funds by supplying information to investors and creditors, accounting helps in planning for expansion and accounting helps in getting bank loans. First,we knowing the concept of debits and credits. When we receive cash, we debit it and when we spend cash, we credit it. In addition to debits and credits, we also have understood the differences between accounts receivable and accounts payable. Accounts receivable refer to a service that has already been performed, however the payment has not yet been collected. In contrast, accounts payable refers to accounts...
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