In many ways, accounting is the backbone of business. Its role is to track a company’s finances in their numerous forms, from credits, debits, and profitability to payroll and tax filing. It is a field driven by analytics and analytical interpretations, and the information derived from such functions provides a business with a record of its financial health and stability. Financial reports generated from this information can drive a company’s strategies in both the short and long term.

Why do I need to study accounting?

Accounting is important as it serve as the foundation of one’s business. It helps providing stability, control, and accountability of the company’s finances. Its role is to track a company’s finances in their numerous forms, from credits, debits, and profitability to payroll and tax filing. Basically, it is the backbone of a business. It involves making and assessing financial records and accounts of company.

Accounting is a relatively difficult field of study, however, it is not necessary for you to be a math wizard to be able to study and learn accounting. Unlike any other subjects such as Algebra, Geometry, and Calculus, not everyone uses these in their daily lives, often because they do not know how to use this, unless you will take engineering or architectural works. When you will have a career in accounting, you can actually use your knowledge in payroll management, profit and loss ratios, and other business-related concepts especially if you will consider having your own business in the future.

If you are taking non-accounting courses but studying accounting, it doesn’t mean we cannot use it in the future. We should study it because again, it plays a vital role in business which everyone can have or build anytime. It will be very helpful in our daily lives and in the future.

Future accountants, do your best. Stay safe and God bless.