By In this post, I will summarize a few guidelines that I have always tried to convey to both students and professionals who have difficulty in handling the accounting tasks.
Also check this mini practice set 1 accounting answer key.
Be Clear About Concepts!
The concepts of assets, liabilities, net worth, expenses or income as well as what to include in each of the accounting facts are something really simple and perhaps because of this they are not given enough attention. But it is like driving knowing that there are three pedals but do not always remember what the order is or why to use them.
Simplification
The economy and the accounting demand direct facts, so try to expose them as if you had to explain them to a child, and you will not have any problems at all.
Take advantage of the fact that left and right should add the same!
Since there are only three patrimonial masses that must be put and two sides the possibilities are not infinite, then if the concepts used have been the correct ones and the placements are adequate when there is a lack of the seat itself, you must push yourself in the right direction.
Remember that the chart of accounts is indicative!
While using it as the best option, you can always take advantage of the gaps in it as well as make small modifications to match the items to what you need exactly at that time.
Take advantage of the specialized accounting programs
Specialized programs are often expensive, but they are worth. They help they offer is valuable, so they are very helpful not to commit those little mistakes of placement, also usually they have technical service.
Spreadsheets
If you decide not to use a program of accounting properly, any spreadsheet will help you. Thinks that the accounts to be used basically will only be the basic ones like sums, subtractions, multiplications and divisions and a good plan in these programs can be reused year after year.
Record only what happens
The future is the future, and accounting facts will have to be recorded when they happen. If something has not happened, wait to see what happens to reflect it correctly.
Ask
Do not be afraid to ask, so ask your friends and people who have gone through similar problems if it is not possible to reach the experts and you will no doubt find a solution to any problem for sure.
