Maintaining accounts of expenses and income is one of the most basic functions of mankind. Knowing one’s personal income, the expenses incurred on a daily, monthly and yearly basis. Understanding the taxation norms and also knowing where to invest one’s money to get the most returns is something that every individual needs to know in today’s times. Apart from that, there are also various government norms that one has to follow while maintaining accounts and this applies not only to an individual but also to various companies and organizations. While the rules may be different, the basic principles of accounting are the same everywhere. Today, one is expected to learn the basic accounting principles from high school itself. However, there are some courses that do not have the subject of accounts as mandatory and this happens in many fields. As such, there are many alternative methods and sources from where one can learn and master the art of basic accounting.
In layman terms, accounting is getting all the financial information pertaining to a person or a business for the purpose of taxation, investment calculations and other financial decisions. There are various rules, conditions and terminologies that one needs to be aware of when it comes to accountancy. The best way to learn all this quickly is by applying for an online accountancy tutor.
The knowledge of accounts is not only necessary for people to know the financial standing of themselves or their businesses, but also to protect themselves from fraudulent practices that may be prevalent either in the organization itself or undertaken by external individuals or companies. The United States government has created the Financial Accounting Standards Board, abbreviated as FASB in the year 1973. It is a self-financed body and works on its own accord. This board analyzes and reviews all possible accountancy related issues and frauds that have been brought to their notice. However, in order to present one’s case, the basic accounts of the aggrieved individual or organization need to be clear and for this one needs to have thorough knowledge of accountancy.
Many individuals shy away from bookkeeping and accountancy and are unwilling even to learn about the same. This is because they are living on the assumption that there are others to take care of it for them and hence, they are not required to know more about it. However, the truth is far from this, one needs to be aware of their personal income and expenses and plan accordingly for investments and even for taxation.
Contrary to popular perception, accountancy is really easy to learn and there are even online courses available for the same today. These online courses have professional tutors who are experts in the field of accountancy. They are there for one sole purpose; to assist people to understand the terms and rules of accountancy in a lucid manner without any complicated jargons or rules. Also, online courses have a number of advantages such as:
- One can store all of the course information that may be provided in the form of video tutorials, reference papers & notes and other material for later reference.
- If a person has any query, they can easily ask their online account tutor for assistance on the same and get their queries answered. They can do this either through email or even a live chat or video discussion.
- The courses here are highly practical and realistic. The theories and practices taught in these online courses are easy to apply in real life scenarios.
Lastly, an online course provides a convenience that no conventional courses can; the convenience of learning at your own time from any anywhere without having to visit any dedicated center for the same. This is perhaps, the biggest advantage of an online course in accountancy or any other field for that matter.