Hello Prof. Kumar
My name is Pramod Agrawal, from India. I am 52. I trade in financial markets - stocks, commodity, currency. I want to set up new businesses.
I never had any commerce and accounts education in my life. I did my schooling in science and then BA. But my circumstances have put me in to hard core world of money, business, finance, investments etc.
To achieve big success in my work in short time, I need to have a good grasp of accounts to control, monitor, evaluate a business opportunity.
I am looking for a short course in accounts so that I can run my existing business of trading in financial markets and future business plans. Please tell me the steps to learn accounting quickly.
Pramod Agrawal from India
Promod Agrawal Ji, first of all, thank you want to get guidance from me. I feel lucky, if you learn accounting from me because you have more experience of life than me. You can also add me in your Google Talk by adding firstname.lastname@example.org in your +Add in your Google Talk for taking live help.
There is not any short cut to learn anything. From few days, I was busy to finding good plumber for fitting of water pipes in my house because I do not know plumbing skill. I wasted my 3-4 days just wondering good plumber. I met many plumbers. Some of them are greedy. Some of them were not punctual of time. They have given me the time for doing my fittings. But they did not come. It is luck of God when I found a good plumber who installed all pipes with in few hours. I saw his each and every step very seriously. You feel wonder to listen that I had installed last pipe by myself. It means that if the steps of learning anything is simple and good master explains it. Anybody can learn anything more quickly. Still, it is true, there is not short cut to learn all things with in one day. But if we are dedicated to learn and our mater is dedicated to teach to you with new ways. we can convert this truth into lie.
Now, we talk about accounting. Accounting is also skill of accountant like plumbing is the skill of plumber. You can learn accounting quickly, if you will follow my following steps more seriously and dedicatedly.
|Learn Accounting Quicky with Yoga Technique|
1st Step : To Learn A, B and C of Accounting
A, B and C is the base of accounting. If base is good, your learning of accounting building will be strong. Earthquake of your difficult business problems will not create confusion for you.
A of Accounting = Debit and Credit
In English, we learn A for Apple. It is the name of fruit but in Accounting, we learn A for debit and credit. Every transaction must record in debit side of one account and credit side of other account. Suppose, you have to record your investment in share market. In accounts books, your investment will debit in one account and also credit in other account on the basis of double entry system.
There are three rules of double entry system which are helpful to debit any account and same time credit to any other account. It is also called rules of journal entries. Actually, good knowledge of debit and credit will be helpful to you to pass the journal entry of your any transaction whether you are dealing in stock exchange, currency or commodity market.
Rule One : Debit will be the name of receiver and Credit will be the name of Giver to Your Business.
Rule Second : Debit will be the asset or assets which will come in your business and Credit will be the asset or assets which come from your business.
Rule Third : Debit will be all expenses and losses and Credit will all incomes and gains.
B of Accounting = Accounting Equation
In english, B means Bat but in accounting B means accounting equation. Always remember,
Capital + Liabilities = Assets
Assets - Liabilities = Capital
Suppose your total assets is Rs. 10,00,000 and you have taken loan of Rs. 9,00,000. It means you have brought your own money or capital in the business
10,00,000 - 9,00,000 = Rs. 1,00,000
Your balance sheet will become on basis of accounting equation.
C of Accounting = GAAP or Accounting Standards
In English C for Cat but in accounting, C for GAAP. There are many GAAP which are useful to learn accounting quickly. Suppose, we have to calculate the value of stock which has not sold at the end of year. GAAP tells us that we can use FIFO or LIFO or any other method, but value of stock must be one the rule "Value of inventory on cost or market value which is less." Like this, there are GAAP of investment accounting, lease accounting and other business. You can read all my written GAAP at here.
2nd Step : To learn all tutorials of our Accounting Help Center
We have made our accounting help center in which we classify our all contents for learning accounting quickly to all those who are geek but do not know accounting. You can visit it at here.
3rd Step : To Learn Accounting Examples
Examples are good way to learn anything quickly. There are lots of examples of accounting in the web. Just search if you do not understand any tutorial of accounting. We also start Accounting examples section and you can study all these examples of accounting at here.
4th Step : To Watch Accounting Learning Videos
Watching accounting learning videos is wonderful way to learn practical of accounting quickly. It will become virtual classroom of accounting for you. I have made it in svtuition channel and I am uploading videos regularly in it. 749,857 peoples have watched and learned accounting quickly from this video channel. If you are interested to learn accounting through our video, please subscribe this youtube channel at here. There are also lots of other youtube channel which are providing the knowledge of accounting step by step. You can also subscribe them and you will receive updates in your email account.
5th Step : To Give Accounting Tests Online
This is new section of accounting education which will not only helpful to learn accounting quickly but it also create self-confidence for solving any accounting problem. Still we have written 5 online accounting test. These all test are objective type. It means you just take pen and copy and open our online accounting test by click at here. Every online test, we write 10 objective type questions. We have given 4 option. One option is correct other is wrong. You have to choose correct option. It may be (a) or (b ) or (c) or ( d). After this, you can check its our correct answers and match with your written answers. If you have written 2 or 3 correct answer. It means your accounting is weak and you have to do more hard work. If your 50% or more answers are correct. It is sufficient progress in your learning of accounting.
Related : 10 Tips of Remembering