Usefulness of Accounting?

by Komal
(Lahore)

accounting student Q: As a student, how is accounting useful to me?

A:
Accounting is the international "language" of business, so if you have ever thought that you may work in a business of any kind, knowing accounting will give you an edge over others who don't.

By "international language of business" I mean accounting contains things like income statements and balance sheets and other accounting reports which communicate how a business is performing and what sort of position they are in. If you know accounting you can read these reports and understand them. if you don't know accounting they will be meaningless.

Your accounting studies give you the theoretical basis of the subject and teach you the rules and practices of accounting. After your studies you will start to see it in practice in business. There you will get first-hand experience with income, expenses, assets, liabilities and owner's equity. You will see these things in action.

Having accounting studies as part of your resume or curriculum vitae will definitely make you more of an asset to prospective employers, even if you are not applying for a job as a bookkeeper or accountant. So in other words, it makes you generally more hire-able by companies.

As a final note, knowing accounting is also useful from the point of view of being able to handle your own finances better. You can budget and plan your spending and even draw up personal financial statements - a personal income statement and/or balance sheet. So knowing accounting would then give you more control over your personal finances too.

How and why is accounting useful to you?

Comments for Usefulness of Accounting?

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note
by: Anonymous

ACCOUNTING IS IMPORTANT FROM MY POINT OF VIEW BECAUSE I AM THINKING TO START THE BUSINESS SOMETIME AND IT WILL REQUIRE ME TO HANDLE THE ACCOUNTING PART. IN DAY TO DAY ROUTING IS MORE USEFUL TO US.

What Accounting Means to Me
by: Mia

Accounting for me means being able to have the extra edge when it comes to making important decisions in a business. It means being capable of making impacting differences in any organization that you go to. It also means being able to enhance my resume and every day life with a skill that pertains to almost everything I will ever do.

Usefulness of Accounting to Me
by: Thomson Godman

Accounting is useful to me because with accounting knowledge I can be able to run my own business enterprise, and it will also aid me in my aspiration of becoming a Charted Accountant in the nearest future to come and place me in a high platform in any organization am employed or hired to work out their financial statement.

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