Importance of Study Accounting

Topics: Business, Accountancy, Finance Pages: 3 (1110 words) Published: February 24, 2011
Importance of Study Accounting
Everyone should be required to study accounting because accounting is very essential for our daily life. There are many importance of study accounting. Asking an accountant why accounting information is important is similar as asking why fish need to live in water. This is because accounting is the backbone of financial world. Different levels of society need accounting information for different purposes.

First of all, accounting is indirectly associated to our daily life. If there is no accounting, we may not be able to communicate with each other in the financial world because as what we know accounting is the language of business. For example, when we want to spend money on something, we will determine the value of the things and think whether it is worth to buy or not. We will decide whether we will gain any profit or losses from that particular thing. From our real life example, if we wish to buy a laptop, we will ask all the information about the price and function of the laptop. After that, we only will decide whether the laptop is necessary for us and worth to buy or not before we do any decision to purchase it.

Additionally, not only business students but also it is also vital for others stream students to have fundamental knowledge about accounting for their personal advantage. It is because as they grow up they will meet more accounting information such as personal income tax. Moreover, nowadays accountancy has emerged as a profession, together with the professions of medicine and law. The study and practice of accountancy requires a broad understanding of concepts and in-depth knowledge of specialized accounting areas. Besides that, Malaysia now is facing shortage of Standard Charted Accountant. Students who have accounting skills will directs increase their opportunity to desire a job. Accounting is essential to prepare them to face their work in the future. Without accounting education, students will be...
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