Online Accounting Tutorials Can Help You Learn the Basics

One of the first things you need to understand when learning about accounting is that bookkeepers and accountants aren't the same thing. Accounting is a general term for all the money-related aspects of an entity. Bookkeeping is a specific job that falls under the broader category of accounting. In other words, a bookkeeper is responsible for keeping records of all the financial transactions that an entity undertakes while an accountant will be responsible for using those records to file financial statements with the IRS, company owners, or shareholders. To learn more about accounting, follow the link.

Bookkeepers needs to learn how to keep records of all financial transactions, including income and expenses. A bookkeeper should have copies of all checks written to and by the company, for example. It also includes less obvious financial records such as depreciation or appreciation of assets like equipment and property.

Accountants need to be able to use the records kept by the bookkeepers to determine how those records translate into profits and losses. They may use the records to figure out which expenses can be used as write-offs for tax purposes, how much gross and net profit the business generates, and how things like investments or pensions affect the business's bottom line. Being an accountant requires that you have a firm grasp of basic math as well as understanding the laws that govern business accounting procedures, such as tax law and financial disclosure laws.

It is possible to learn the art of bookkeeping specifically or accounting more broadly. Why you want to study the subject will help you decide how best to proceed. If your interests are personal, such as general curiosity or just to organize your own records, you won't need the same level of training as you would if you wanted to work as a bookkeeper or accountant professionally. Anyone who wants to start a small business can also benefit from learning the basics of good bookkeeping and accounting.

If your interests are personal, you can often learn what you need on your own. You can learn how to keep good books and what different accounting terms mean by using software or online tutorials. You may also want to take a class from the local community college. Studying on your own or taking an intro class can help you decide whether you want to become a professional accountant. The best accounting tutorials videos are available when you click the link.

If you intend to become a certified accountant, you'll need to pursue a degree in the field. Some companies will hire an accountant with only an associate's degree, if they also have a lot of experience in the field. Usually, though, accountants receive four year degrees from colleges or universities. There are also state licensing boards for CPAs that may require you to get certfied.