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5 Reasons Why do Accountants Should Learn Python

Due to growing amount of data, there are a less tools that can help accountants do the necessary analysis. Additionally, these technologies don't cover the whole process, and can't be automated. On the other hand, programming languages are free, and analysis is a repeatable process. For accountants, Python is a user-friendly programming language. It is an essential method for processing data and conducting statistical analysis.    Attribution: The icons has been designed using resources from flaticon.com The initial release date of Python was February 20, 1991. In recent years, its popularity has significantly ...Read More

4 Reasons Why Accounting is Important in Everyday Life

Using accounting is indeed synonymous with businesses. Nonetheless, accounting for personal finances is also crucial. The objective is to manage or document our finances so that they stay stable and can be expected to advance. The significance of accounting in our everyday life is evident throughout, from monitoring our expenditures to utility bill payments to shopping. There’s a good chance you’ve already utilized some fundamental accounting concepts already.   Attribution: The icons has been designed using resources from flaticon.com   In this article, you will gain an understanding of the significance of accounting ...Read More

4 Ways on How Accounting Helps in Decision Making

Accounting is important because it allows companies to keep track of all of their financial transactions. It is the method through which businesses record and analyse the financial data that flows in and out of their operations. It allows both corporate executives and outside analysts to assess the firm's sustainability and make informed decisions. Accounting uses data from your operations to generate reports that give you and your managers continual insight into business performance, so you and your managers can make informed decisions.   Attribution: The icons has been designed using resources from Flaticon.com ...Read More

3 Tips on How to Analyze Liquidity Ratios

Analysing your liquidity ratio is essential, especially when determining your financial metric covering short-term obligations, creditworthiness, or investment worthiness. With that in mind, here is a helpful guide that will help you understand and analyse liquidity ratios quickly.   Quick Recap But before that, let's go back and define what a liquidity ratio is first. Liquidity ratios are defined as the means to determine the credibility of a company and its ability to pay back debts accordingly on their short-term due dates. Now, here are the three types of liquidity ratios to remember, which include ...Read More

Is Accounting Just Like Math? 4 Difference Between them

Mathematics and accounting have always been acquainted with each other, so they are sometimes thought to be similar. They both include numbers and computation, but math and accounting are two different concepts with different approaches. Most of the time, the common conception about these two concepts is saying that accounting is just like math. Accounting may include some computations and use equations included in math, but it is not as complicated as math. It does not usually involve some nerve-wracking calculations, just the fundamentals of mathematics and some excellent analysis of problems. Additionally, in accounting, ...Read More

September 25, 2021|Accounting, Accounting Discussions|

8 Reasons why do you need Accounting Standards

With the financial industry becoming highly internationalised and sophisticated, investments across countries are becoming highly prevalent. To keep up the coherence of the industry, it has become an absolute necessity for the financial reports to be impeccably consistent and compliant with the accounting standards so that investors and analysts can depend on them. The primary advantage of accounting standards is providing precise information through different financial statements in such a way so that it remains comprehensive for all the stakeholders across the industry.   Attribution: The icons has been designed using resources from Flaticon.com ...Read More

Is Accounting competitive? 4 Truths About Accounting Career

So, you are interested in accounting. You want to embrace this career. However, you are uncertain about the growth possibilities. Accounting can be exciting and fun. If you believe that you can meet the job demands, you can give it a try. You will need some specific skills for this job. It can be the best career if you have an interest in mathematics and business. Also, you will have the option to explore different industries. You can start with an entry-level job that ranges from data entry to financial analysis. With experience, you can ...Read More

Is Accounting Fun or Boring? 8 Reasons Why Accounting Is Fun

If you ever wanted to pursue a career in accounting and wonder if it is worth the try, you’re on the right page. In this article, we will take a closer look into accounting and discuss some top reasons why you should consider pursuing this profession. Accounting is fun for anyone who is into logical thinking and has an affinity for mathematics and business.  Ideally, jobs in this profile are best suited for organised candidates who are driven to help businesses run efficiently. If you are choosing accounting as a profession, you need to understand ...Read More

6 Reasons Why Accountants Should Learn to Code

Should accountants learn to code? Yes. This is because both coding, which involves the use of programming language, and accountant feature arithmetic and analytical properties. Accounting mainly features patterns that relate to capturing, storing, managing, and analysing data. Accountants also work with systems such as payroll, cash flow, assets, and accounts receivables/payable among others. all these are related to programming because for these systems to run, they must be programmed first. Attribution: The icons has been designed using resources from Flaticon.com So, a combination of accounting and programming skills can help to significantly ...Read More

Finance vs Accounting – Which Should You Study?

If your career interest lies in dealing with numbers, you're probably on the lookout for a degree in a relevant field. While some guides may recommend you take up finances, others may suggest an accounting course. So, which one is best for you? Accounting, in an organisation, deals with the information behind financial transactions. Finance, on the other head, is the management of these transactions. While accounting majorly involves record-keeping, finance is about planning. Attribution: The icons has been designed using resources from Flaticon.com   Major Differences Between Accounting and Finance Careers Now ...Read More