[quote]optheta wrote:
LankyMofo wrote:
If you’re having trouble with these questions I just want to let you know that you should not make accounting your major. It gets much harder.
This is all new stuff to me so shouldn’t it be hard? I mean even the teacher of the class said that the Debit/Credit concept is the hardest for students to understand. Wouldn’t any major i choose that i have no knowledge of in be hard for me at first? Or do you have to “Get it” right off the bat in order to be an Acct. Major?[/quote]
In my experience the students who had trouble with their first accounting class were not really fit to be an accounting major. The students that do really well in accounting in all of thier classes tend to pick up the material and just “get it” right off the bat.
[quote]gsxtacy wrote:
optheta wrote:
LankyMofo wrote:
If you’re having trouble with these questions I just want to let you know that you should not make accounting your major. It gets much harder.
This is all new stuff to me so shouldn’t it be hard? I mean even the teacher of the class said that the Debit/Credit concept is the hardest for students to understand. Wouldn’t any major i choose that i have no knowledge of in be hard for me at first? Or do you have to “Get it” right off the bat in order to be an Acct. Major?
debit credit is not the hardest concept by any stretc of the imaginaition…it is prob the hardest concept in intro to accounting[/quote]
It’s pretty simple tbh…
BALANCE SHEET AREAS
Debit to increase debtors (ie a debit increases an asset, assets = good, therefore debit = good)
Credit to increase a creditor (ie credits increase liabilities, liab. = bad, therefore credit = bad)
P&L
Do the opposite!!!
A credit was bad in the balance sheet, it’s “good” in the P&L
Sales are a credit, Expenses a debit
At it’s simplest level, think of it this way;
I sell 100 worth of goods for cash
Dr Bank (increase an asset)
Cr Sales (increase a sale - since you need a balancing/double entry)
Pretty much everything else in regards to double entry and what journals to post can be worked back from that.
[quote]optheta wrote:
LankyMofo wrote:
If you’re having trouble with these questions I just want to let you know that you should not make accounting your major. It gets much harder.
This is all new stuff to me so shouldn’t it be hard? I mean even the teacher of the class said that the Debit/Credit concept is the hardest for students to understand. Wouldn’t any major i choose that i have no knowledge of in be hard for me at first? Or do you have to “Get it” right off the bat in order to be an Acct. Major?[/quote]
I had trouble with accounting in my first couple of classes. It passed.
(granted, I did not do GREAT by any stretch of the imagination. I graduated with a 3.24, and while it didn’t get easier, it did stay manageable).
Like any other subject, once you know the language (/understand vocabulary and relationships) it becomes simpler to understand. You did well on your first test. If this trend continues, you should be alright.
[quote]LankyMofo wrote:
optheta wrote:
LankyMofo wrote:
If you’re having trouble with these questions I just want to let you know that you should not make accounting your major. It gets much harder.
This is all new stuff to me so shouldn’t it be hard? I mean even the teacher of the class said that the Debit/Credit concept is the hardest for students to understand. Wouldn’t any major i choose that i have no knowledge of in be hard for me at first? Or do you have to “Get it” right off the bat in order to be an Acct. Major?
In my experience the students who had trouble with their first accounting class were not really fit to be an accounting major. The students that do really well in accounting in all of their classes tend to pick up the material and just “get it” right off the bat.[/quote]
I agree with the Mofo. At a 101 stage, if this is a career for you, this should be coming to you quite quickly, and seem like common sense. Like weight lifting is for some people.
But to truly “get it” IMHO you have to be in the industry for at least 3 years. And even then intelligent individuals realize that you only “get” a small portion of this business. Getting your piece of paper is just the beginning.
[quote]gsxtacy wrote:
countingbeans wrote:
links wrote:
Are there many accountants on this forum?
apparently yes… lol
I actually read the other day that accountants are one of the most “in demand” jobs right now, seems like good news for a lot of people on here[/quote]
That’s certainly not the case in Ireland at the moment unfortunately. There are trainees losing there jobs all over the country and also quite a large number of qualified accountants have been offered redundancy packages or taken pay cuts.
That’s certainly not the case in Ireland at the moment unfortunately. There are trainees losing there jobs all over the country and also quite a large number of qualified accountants have been offered redundancy packages or taken pay cuts.[/quote]
Wow, sucks. Whatever you do, don’t come to America.
[quote]links wrote:
gsxtacy wrote:
countingbeans wrote:
links wrote:
Are there many accountants on this forum?
apparently yes… lol
I actually read the other day that accountants are one of the most “in demand” jobs right now, seems like good news for a lot of people on here
That’s certainly not the case in Ireland at the moment unfortunately. There are trainees losing there jobs all over the country and also quite a large number of qualified accountants have been offered redundancy packages or taken pay cuts.[/quote]
Serious +1
Also, how random is it that there’s two accountants from Ireland posting on an american weight lifting site??
EDIT: In fairness, there’s not a whole lot in the way of viable “professional” careers in Ireland. Ya either go into something medical, legal or finance related, and since there’s not a whole lot of financial stuff done in Ireland other than accounting, audit, tax advice etc you get quite the flooding of the market place. Ya really need to go to London or the US if you want to deal in equities, commodities or trade.
[quote]Hanley wrote:
links wrote:
gsxtacy wrote:
countingbeans wrote:
links wrote:
Are there many accountants on this forum?
apparently yes… lol
I actually read the other day that accountants are one of the most “in demand” jobs right now, seems like good news for a lot of people on here
That’s certainly not the case in Ireland at the moment unfortunately. There are trainees losing there jobs all over the country and also quite a large number of qualified accountants have been offered redundancy packages or taken pay cuts.
Serious +1
Also, how random is it that there’s two accountants from Ireland posting on an american weight lifting site??
EDIT: In fairness, there’s not a whole lot in the way of viable “professional” careers in Ireland. Ya either go into something medical, legal or finance related, and since there’s not a whole lot of financial stuff done in Ireland other than accounting, audit, tax advice etc you get quite the flooding of the market place. Ya really need to go to London or the US if you want to deal in equities, commodities or trade.[/quote]
I actually just got back from ireland a few weeks ago, dublin to be exact and wow, this recession has really taken its toll there. Fullton street i think its called, the main area, was a ghost town, and brown thomas was empty. Its pretty scary, and im just visiting lol
I actually just got back from ireland a few weeks ago, dublin to be exact and wow, this recession has really taken its toll there. Fullton street i think its called, the main area, was a ghost town, and brown thomas was empty. Its pretty scary, and im just visiting lol
[/quote]
Grafton street
That’s nothing, some of the major suburban shopping centres have been losing tenants left right and centre. Like you’re talking 5-10 BIG empty units in a 80ish unit centre.
I actually just got back from ireland a few weeks ago, dublin to be exact and wow, this recession has really taken its toll there. Fullton street i think its called, the main area, was a ghost town, and brown thomas was empty. Its pretty scary, and im just visiting lol
Grafton street
That’s nothing, some of the major suburban shopping centres have been losing tenants left right and centre. Like you’re talking 5-10 BIG empty units in a 80ish unit centre.
[/quote]
Ah yes Grafton street lol. Yeah i was in one of the shopping centres and noticed a few empty units and a lot of closed restaurants. The funny thing was Krystal was packed when i went out that night lol. I guess there is always money for drinking.
I actually just got back from ireland a few weeks ago, dublin to be exact and wow, this recession has really taken its toll there. Fullton street i think its called, the main area, was a ghost town, and brown thomas was empty. Its pretty scary, and im just visiting lol
Grafton street
That’s nothing, some of the major suburban shopping centres have been losing tenants left right and centre. Like you’re talking 5-10 BIG empty units in a 80ish unit centre.
Ah yes Grafton street lol. Yeah i was in one of the shopping centres and noticed a few empty units and a lot of closed restaurants. The funny thing was Krystal was packed when i went out that night lol. I guess there is always money for drinking.[/quote]
Haha that’s one of Dublin’s VIP clubs. THe people you see there tend to be recession proof!
I actually just got back from ireland a few weeks ago, dublin to be exact and wow, this recession has really taken its toll there. Fullton street i think its called, the main area, was a ghost town, and brown thomas was empty. Its pretty scary, and im just visiting lol
Grafton street
That’s nothing, some of the major suburban shopping centres have been losing tenants left right and centre. Like you’re talking 5-10 BIG empty units in a 80ish unit centre.
Ah yes Grafton street lol. Yeah i was in one of the shopping centres and noticed a few empty units and a lot of closed restaurants. The funny thing was Krystal was packed when i went out that night lol. I guess there is always money for drinking.[/quote]
You know, i bet drivethruhero could help you with this. He could probably even tutor you and you will be amazed at not only his long neck, but also his crazy skills in helping you get through school.
