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Accounting As a Foreign Language?
Have you ever tried to learn a foreign language by ear? At first, words and text or text will not be new to you. It may sound funny, boring, or very difficult at times. You find that you cannot even remember to say a simple greeting or count the numbers from 1 to 10 even after reading your language book, taking speech lessons, and listening to your teacher a hundred times. Then you find yourself in a country where the language is spoken. People are talking around you and you find that you recognize a word or two. In fact, you are so inspired that you dare to say “hello” to the immigration agent checking your passport. They smile and say “hello” and “welcome to the world.” You turn it on and smile and silently thank you for understanding!
Well, it is often said that accounting is the first language of business and for non-business students, accounting may as well be a foreign language. For example, at first, the accounting equation of Assets = Liabilities + Equity’s Equity will appear in Greek. As you progress through accounting, you become aware of depreciation and interest accruals, which are not things you use every day. Current and non-current assets? What is the difference? Disappointed, don’t give up.
Like learning a foreign language, immersion is the fastest way to learn, understand and use the language. Here are some helpful tips on how to improve your accounting language.
1. Learn and understand accounting terms. Start by reading and understanding accounting terms and concepts. As with any language, understanding the meaning of a word and its place in the grammar will help you make sentences. Learning and understanding the meaning of accounting terms will help you become more proficient in accounting. For example, in order to be able to read a bank account, it is important to first understand the components of the accounting equation, which are assets, liabilities and owner’s equity. As you become familiar with each term, banking and financial planning begin to make sense. As you gain confidence, you can expand your vocabulary to learn more accounting equations that include learning about all of your income, expenses and expenses.
2. Practice, practice, practice. Foreign language learners are forced to read, listen and answer questions in the language they are learning. These tests are very important for them to be comfortable hearing and using the language. Similarly, to develop an accounting concept, it will help you to conduct experiments and solve accounting problems. The Internet is a powerful tool for such exercises. Take some time to do this.
3. Ask an expert. We can all use advice from professionals in the field. If you work in a company, the staff in your accounting, finance or accounting department will be happy to explain and show you a few tricks. Now, open your network. You might be surprised how many people are accountants or have a finance background.
4. Finally, if at first you don’t succeed, try again! This old adage never fails. Try and try again, after all, if you want to learn business, accounting is the most important thing you need to manage your financial decisions.
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