The ability to crunch numbers is a valuable skill. As a result, individuals with accounting skills are highly sought after by employers. However, it is not easy to get through an accounting course, as it requires a lot of discipline and hard work. Like with any other field of study, success is dependent on the amount of dedication and work you put in. While studying towards a qualification in accounting, here are a few mistakes to avoid:
1 – Not previewing the material
Preparation is key. All the material that is taught in the course is important, and knowing how it all fits together will play a major role in how you engage with the material throughout the course. Not previewing the material (so that you know what to expect later in the course), and not working through it so that you grasp the concepts, could be detrimental. Always remember that taking good notes will help you in the long run when it comes to revision and examination.
2 – Not learning the terminology
Many fields have terminology that is specific to the industry. Accounting is no different. Not learning the correct terms and what they mean could cause confusion and lead to you not understanding the material you are learning.
“Read through these basic accounting terms, study them and commit them to memory. By the time you finish your accounting degree, they will be second nature to you and you will be on your way to a promising career.” – (Source)
3 – Not asking questions
Nothing is worse than sitting in front of your books feeling confused because you do not understand the work. The biggest mistake you could make is not asking your lecturer or tutor to explain. When you don’t understand something in the coursework, you run the risk of losing interest. On the other hand, your studies become more interesting when you’re fully engaged.
4 – Procrastinating
Procrastination is the thief of time. You can certainly not afford this when studying accounting. Time lost is time you can never get back. You want to do what needs to be done immediately so that you do not lag behind in your course and find yourself rushing through the work to catch up.
Escape the grip of procrastination by setting reasonable goals, sticking to your timetable, ensuring that your environment is conducive to studying, and taking breaks so that your brain can have a chance to work through the material.
5 – Not preparing properly for exams
Many students experience difficulties during the exam period. This is often caused by bad exam preparation or no preparation at all. How you prepare for the exam is as important as the exam itself. You can avoid unnecessary exam stress by ensuring that you:
- Stick to a regular study schedule from the beginning
- Ask for help when you don’t understand
- Learn how to apply the material
- Always make your own notes
6 – Not practising daily
A subject like accounting requires the discipline to constantly keep practising the work. The material you learn throughout the course is often interlinked. You need to get into the habit of going through the work daily so that you understand it and will remember it. Don’t finish a chapter and never revisit it again – chances are, it is likely to come up again in later chapters.
As an aspiring accounting professional, there is no room for mistakes that can be avoided. Remember to engage with your study material from day one. Take good notes, ask questions, and always be prepared for assignments and examinations. And make the most of this time to master your skills in this field.
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