Importance Of Learning Double Entry Accounting

"As an accountancy student, the very first thing, that you must learn, is double entry book keeping. If you are weak with that, you are going to struggle big time. You are going to be a chartered accountant and double entries make foundations of Financial Reporting . This is the answer that an ACA trainee student got from the partner of a London based big four accounting firm when she asked him, what is the first thing that I should learn as an ACA student.

Whether you are a student of professional accountancy qualification, or you are studying Accounting and Finance degree at university, in both cases, your understanding of accounting basics, double entries, debits and credits should be very strong. Professional accountancy colleges or university classes have very limited time when they are delivering classroom based lectures or seminars. They quickly skim through double entries and T accounts and move on to the next topics. Apart from university students, I have observed that most professional accountancy students come from non-accounting background. They are overwhelmed when they look at debits and credits, T accounts etc. they don t even know where to put numbers.

What is the solution? How to effectively learn double entries? I d suggest all students to read Frankwood s Business Accounting. This book is known as Bible of Accounting. Author has a step by step, simplified approach to explain debits and credits, and how double entry system works. If you are struggling with double entries, I can explain all the basics of double entries and T accounts within couple of hours. I can guide you which specific questions you must solve, how to use Frankwood s Business Accounting to revise at home, so that, you will have very good understanding of double entries within a short period of time.

As a tutor, my job is to effectively maximise your learning within short period of time. I know what study material should be used, what questions and concepts should be covered during lesson, and what questions should be given as part of homework. A student should be focused during lesson and must do homework shortly after lesson. This way, student can make best out of lesson.