Alex: “Oh my God! I can’t believe that I have to do those freaky balance sheets after reaching home. Are you done reading those accounting assignment examples?”
Charlie: “No man. I was so tired after my football practice. I couldn’t do it. I am planning to bunk school tomorrow, or else Mr Jones is going to throw me out of the class!”
What do you think is going on above? Are you unable to finish assignments, like Charlie, within deadlines due to a shortage of time?
So, what bothers you more, the balance sheets, or the financial statements? Do not worry I am jotting down a few tips along with some accounting assignment examples. You can refer to them whenever you think that your world is going upside down due to accountancy homework!
Basics first
Each business organisation has some financial transactions. The structural and comprehensive recording of these transactions is accountancy. These reports are then shown to agencies, tax collecting bodies, and other investors as well.
I have been working as an accountant for the past three years and believe me; accountancy is a crucial aspect to focus on for a business to flourish. Whether it is a minute firm or a large corporation, accounting is essential for a company to take any financial decision.
The students up taking the accountancy courses have to go through a lot of accounting assignment examples before becoming an expert accountant and applying for jobs. At least, I had to face a lot of tough situations, due to the assignment on accounting, while I was completing my course.
Who are the accountants?
A person has to qualify in their examination and achieve a designated degree to become an accountant. The degree includes:
- Certified Public Accountant (CPA)
- Chartered Accountant (CA)
- Certified General Accountant (CGA)
- Certified management accountant (CMA)
Any of the above degrees are attained if someone is interested in accountancy jobs in a financial department of a company. These courses can often bring forward challenges in front of the scholars starting from complicated homework to simultaneous class tests. It might become too much for a student to handle at times, right? So, the internet can always help you out to look up for an accounting assignment solution.
But practice makes a man perfect. So, keep practising more of accounting assignment examples to shed your fear.
Principles are important
Every subject is based on some principle concepts, and so is accountancy! Let me give you a brief introduction of accounting principle that you will come across in your course. You can also look up for accounting assignment examples in your book; it might be mentioned there as well.
- The principle of cash:
While business is run, the record that deals with the expenditure, as well as the income of the organisation,is maintained under this principle.
- The principle of consistency:
According to this concept a company must stick to one specific method of accounting and maintaining records.
- The principle of monetary unit:
Now, when an organisation deals with companies from other countries, they receive the payments in other currencies as well. This principle states that the payment records must be maintained according to the currency of the country where the office is set up. Not from the countries which pay your sector.
- Full disclosure principle:
This principle states that every unit of information must be conveyed to the respective departments so that reports are prepared with authentic info.
- The principle of matching:
So, basically this is the concept of keeping a record of the money spent on an item against its end value that has to be accounted for. For example, if you are planning to sell a mobile but first, you repair it. So, automatically the value of the device increases. This record of the extra amount of money spent on the repairing procedure comes under this principle.
Do not get scared,my dear. These are nothing but just a few concepts which will be taught in your course so that later you can apply them in real life scenarios while working for a business organisation. Moreover, practising accounting assignment examples will give you a clearer idea about these principles!
Why do students need help?
Well, the thing is currently everyone has a very hectic daily schedule. Primarily, students have to manage a lot of stuff together. For example, studying for class tests, homework, extra-curricular activities, and private tuitions. It becomes very complicated to finish the assignments on time, right?
The same things happened with my nephew Joey! He recently enrolled in the accountancy course a year back. He was getting so stressed doing accounting assignment examples and projects that he had to visit a psychiatric counsellor. The counsellor advised us to take extra care of him and keep some fun activities for him as well.
He is very keen on gaining excellent grades in his assignments, so I went to his school and talked with his tutors.
After a while, I compiled a few handy tips to excel in classes. Are you curious to know?
Let me share those with you!
- Books are your best friend!
Everybody focuses on practical knowledge these days,the theorymerely is ignored altogether. You must remember that books are a keeper. If you spend some time trying to read one chapter in a week, you can excel in future projects. Look, I know that a section in one week is pretty slow but haven’t you heard, “Slow and steady wins the race”!
- Plan your day
A reasonable timetable can save a lot of time. I do this for me as well as for Joey. So, I sit down on a Sunday evening and set up a rough daily timetable so that I can prepare a checklist of things to do for the entire week. Trust me it won’t even take you 20 minutes to do that.
- Invest your time in lots of practice
Now, that you have a timetable keep some time for practising accounting assignment examples. The more frequently you practice, the higher your grades will boost up.
- Group study
Finding a study buddy shouldn’t be a great deal for you, right? Try to arrange three days a week at different friend’s places. Take turns! Group studies can be a way to make studies fun.
Well, that’s all for now. I have been using these methods to help out Joey, and he has been getting an A+, in most of his assignments. Try it out for yourself.
Best wishes, my dear!