How To Learn Accounting

Accounting students struggle at the later, more advanced stages of accountancy courses because the study of the earlier foundation stages are often approached mechanically - learning by rote, what should be learnt by active application of principles in context; relying on mechanical recall instead of applying reasoning based on clear understanding of how the principles of accounting and bookkeeping apply to specific transactions in the business context. Below are examples of how to learn and how not to learn:

The MECHANICAL APPROACH is not focused on understanding.

AN EXAMPLE: Remember that debit is on the left and credit is on the right.

Why this rote learning approach hampers learning.

This approach is not adequate because it relies on recall but does not help you to apply what you recall in situations that are unfamiliar to you. That is why students struggle when the situation in which they learn the concept is different from the situation in which they are required to apply it in an exam.

The ACTIVE LEARNING approach to understanding concepts and principles.

The way to understand a concept (an idea) or a principle (a guiding rule) is to first understand what it means in the context in which it applies. Never try to apply a concept or principle without first understanding what it means(literally) and what it implies (how it applies to all aspects of the context). If you fall into the temptation of seeking to apply first without understanding you will always be trying to hit and miss - you will never develop a coherent approach to learning anything. This weakness can hamper learning. You need to be patient to learn effectively. Shortcuts don`t lead to effective learning.

Always reason it, don`t just memorise it.