My MBA classes started this week. It was a little challenging for me to go back to studying mode after been out of school for more than a year. I started to taking accounting, marketing, management and all the other FUN classes. Accounting and all other topics in is a hard topic to study. I hope the tips of I learned in college will help me and all of my classmates survive this semester.
1. Using visuals: Everybody's learning skill is different; I am a very visual learner. Whenever I feel the material is confusing, I try to put in the diagram. Flowchart helped me understand the operation part of the accounting.
2. List out all the equations: Accounting associated with a lot of equations. Equations are like the rules of accounting and almost everything follows those rules. Listing out every significant equation can be useful for studying taxes and financial and managerial accounting.
3. Draw a timeline: Accounting is not only to solve the number of dollar value correctly, but also make sure they come out the right time. Some accounts does not realize and recognize at the same and time value of money changes over time. Using timeline made me learn accrual and deferral account and finance easier.
4. Think like a puzzle: Audit is somewhat like a puzzle. If you liked play with puzzle or like to be investigative, you might find accounting interesting to learn. Auditing is similar to finding the missing piece in the puzzle. After thinking accounting as a puzzle, it would not sound it a difficult topic to master.
5. Be logical: Although there are MANY theories, regulations, laws in accounting, tax and auditing are to memorize; however, they all have logic. If you can think logically about the situation, you can guess the answer on the tests and score high on them.
Good luck with everyone who is study accounting and/or other business areas!!
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