6 Common Myths About Accountancy
Is Accountancy difficult? Accountancy is difficult. It is time consuming subject.
The myths about difficulty level of Accountancy subject must be busted as when students pass out their class tenth examination. They along with their parents face a tough situation of deciding the stream to be pursued further. There are a number of factors to be considered for this purpose.
Most of the people are carried away by the grass greener on the other side as there are numerous opportunities available to their wards after getting through the Commerce based qualifications.
Whatever the decision may be, there are some common myths about the subject of Accountancy, one of the basic subjects to be studied by a commerce student. These myths must be cleared and their reality known, before taking the final decision.
6 Common Myths about Accountancy
- Accountancy is like MathematicsÂ
The most common understanding in the minds of many people is that Accountancy is a Maths based or Maths like subject. It is said that if a student is good at Maths, he will definitely be good at Accountancy. But there is something better hidden here. It is observed that students good at Maths perform better in Accountancy.
There is close link between the love for numbers and success in Accounting. But if someone is of the view that a student can achieve success in Accountancy only on the basis of strength in using numbers, then this is false.
Though numbers are to be used, like addition, subtraction, multiplication, division, calculating percentages, using fractions in some cases, Accountancy is much more than mere use of numbers. It has been seen many times that a student is not very good at Maths, but he can perform well in this case.
2. Accountancy demands tuition
Some parents with a good performance of their ward in class tenth, hesitate in letting their wards to go for Commerce stream, as they consider Tuition as the necessity. But, it is not. If the child is regular and attentive in class and devotes enough time to practice, which is required in all the cases, the need for tuition can be eliminated.
3. Accountancy will adversely affect participation in other activities
Some students don’t go for Commerce subjects as they do not want to miss their social activities outside. Here also, it is suggested that if he devotes regular time for studies, there will not be major cut in his extracurricular or social activities.
4. One can excel in Accountancy by rote learning
Some very enthusiastic students, who shirk work, understand that they can perform well in Accountancy using rote-learning, this is also wrong. Good memorization skills must be there along with keen understanding of the subject. It has the need of reasoning ability behind the use of numbers.
If the student is ready to use his logical bent of mind with some hard work, definitely he will be able to perform better than others. Reasoning is required to understand Accountancy.
5. Accountancy is one time learning subject
Some people understand that once they learn the principles of Accounting, everything will be fine, but regular practice is must to understand it fully. Practice will be very fruitful in this area.
They must understand that good expression is must for all the theory part. This point is often ignored by the over enthusiastic students and their parents.
6. Selective study is suitable in AccountancyÂ
Some students think that they will get through the next examination by reading the selective topics in the last month of the academic session, which is a totally wrong approach for the success in Commerce stream. A regular study is very important.
All these main points must be considered by the student and his parents before choosing Commerce Subjects.
You can check Is Accountancy really a difficult subject.