How to Learn Accounting

Accounting, the backbone of a business, is used to track a company’s finances. While the number of options for learning accounting may be overwhelming at first, there are books, video tutorials, classes, and other methods of instruction, depending on an individual’s personal preferences. 

What is Accounting?

Accounting involves recording financial transactions and storing and presenting the results in different reports or analyses. It provides proper insight into a company’s financial health. Different accounting types include financial, management, and tax accounting. Employing Accountants is necessary for every company. 

Experts Accountants are crucial to a company’s reliable decision-making, predictable cost planning, and accurate measurement of economic performance. In small businesses, accounting may be handled by a bookkeeper or an accountant, some of which work part-time for several companies. Larger companies may have entire finance departments. 

Learn more about accounting, why you should learn it, and possible careers through Noble’s comprehensive guide. 

What Can You Do with Accounting?

Accounting can be a challenging but enjoyable field of study. Individuals can use their skills to start a business or improve their lives outside work. Generally, accounting courses provide valuable knowledge on managing a budget and expenses effectively. 

By completing accounting courses, individuals learn a broad range of topics. Beginner-level accounting courses cover tax returns, financial statements, and computer applications like Microsoft Excel. Advanced courses may dive deeper into financial analysis and presentation, auditing, fraud examination, and international accounting. The more courses an individual completes, the more options the same individual has. Each course opens doors to different career paths. Possible roles for those who have taken some accounting classes include an auditing clerk or an accounting assistant. 

Students who complete full accounting degrees may take advantage of international opportunities. Individuals who wish to work abroad can easily find jobs overseas, as most accounting principles are not specific to one region. Good recommendations for career advancements and can be used as stepping-stones for other degrees. There are several opportunities to volunteer for large organizations, as they constantly need more Accountants. Individuals can even use their degrees to further their education towards other topics, such as law. 

In-Person Accounting Training

Noble Desktop offers high-quality in-person accounting classes. These classes are taught by experts in accounting and are available at the training center in New York City. Noble’s courses boast small class sizes with individualized attention and mentorship. In-person classes are a good option for individuals who enjoy training in a classroom setting with an instructor in front of them. Individuals must consider whether or not they can commit to driving to an in-person location. Those who enjoy interacting face-to-face with peers and their teacher will enjoy in-person training. 

Individuals can take Noble’s Financial Analyst Training Program in NYC. Through this course, individuals master Excel and financial accounting concepts. NYIM, Career Centers, and Training the Street also offer in-person courses in NYC, such as Intro to Financial Accounting and Financial Statement Analysis/Accounting. UCLA Extension provides courses in Los Angeles.

Live Online Accounting Training

Individuals who prefer to train from the comfort of their own homes or offices may want to enroll in virtual accounting classes. Live, instructor-led training is the best way to learn accounting, and there are several perks to virtual training. Classes are live online and allow for flexibility. Individuals can learn from anywhere as long as they meet course deadlines. With this flexibility, individuals can work on other priorities in their lives. Individuals also have the luxury of avoiding lengthy commutes and getting stuck in traffic. Those who enroll in online classes must consider some things. There is no face-to-face interaction, and individuals are responsible for establishing their routines and completing coursework while balancing other priorities. 

Most of Noble Desktop’s accounting classes have a live online option allowing students to attend courses from anywhere. Noble’s top courses, according to students, include Financial Analyst Training Program and Financial Modeling Bootcamp. The Financial Modeling Bootcamp teaches the fundamentals of finance, accounting, and corporate valuation. To enroll in this course, individuals must have Excel proficiency equivalent to Intermediate Excel for Business. Financial Analyst Training Program covers core excel skills and advanced Excel for financial modeling, accounting, and corporate finance and valuation. Prior knowledge of finance and accounting is helpful in this course. Other schools offering live online accounting training include NYIM Training, NYC Career Centers, City Lit, and The Knowledge Academy.

Free Online Courses & Tutorials

Anyone looking for an overview of accounting can start learning for free online! Free, beginner-level courses are valuable for busy individuals to learn accounting basics. Noble Desktop offers a variety of free seminars on multiple topics. To get started with accounting, check out the accounting seminars on Youtube. Through these seminars, individuals gather a general idea of basic accounting concepts. 

Noble Desktop’s Youtube channel contains various free financial modeling videos, which combine accounting, finance, and business with learning how to determine a company’s future results. Individuals can view these free Youtube tutorials to learn about mergers and acquisitions, the LBO Model, Transaction Comps, Business Risk, and other topics. Focus on the most recent uploads to learn the most up-to-date information. Some free accounting videos include Financial Modeling: LBO Model-Step 1 and Financial Modeling: LBO Model-Step 2. 

Other providers around the country offer free online tutorial videos. Some of the more popular companies include Coursera and Udemy. Udemy offers shorter tutorials, like an Introduction to Management Accounting or an Overview of the Moving Average Crossover System in Accounting. They post some longer videos, like an Introduction to Financial Accounting. Coursera also offers an accessible Introduction to Financial Accounting course. 

Read about more free accounting videos and online tutorials.

On-Demand Accounting Classes

Not all individuals can be present for live online training, so on-demand accounting training is another option for those who prefer training from home. On-demand or self-paced accounting training has both advantages and drawbacks. This version of training makes it easier for individuals to access knowledge on their terms, without any barriers of time or availability. It can be especially effective in training individuals who need to quickly perform a new task requiring new skills. 

One drawback of on-demand accounting training is that individuals are usually required to absorb the information too quickly and need help understanding the taught concepts. There are also no in-person sessions, nor are there times for trainees to ask live questions if they are having difficulties. There are pros and cons to on-demand accounting training, but it may become the future of the workplace. Individuals can access beginner and advanced topics, and many enjoy online classes' flexibility. Those disciplined enough to set up their schedules may be interested in on-demand accounting training.

Which Learning Method is Right for Me?

With many different resources available to help beginners learn accounting, individuals may need clarification on which one is best for them. With varying learning styles and preferences, individuals can experiment with different tools to see which one feels right. By directing their learning, individuals can pick the combination of tools they prefer and don't have to stick with what a teacher selects.

Individuals must also consider their current schedules before selecting a learning method. Those with many responsibilities may need help committing to a structured accounting course that requires them to learn each day at a scheduled time. In this case, self-paced or video accounting tutorials may be better since individuals can access them when their schedule allows. Those with a more flexible schedule may prefer structured accounting courses offered live online or in person.

Why Learn Accounting?

Accurate accounting is necessary for a company's growth, funding, and collection of payments. It is a critical business skill for owners and managers and ensures that a business’s financial records comply with the laws. By studying accounting, individuals can learn to manage their finances more effectively and make meaningful contributions at work. 

Those who own businesses should understand basic accounting principles to help advance their careers. Owners who learn accounting can better analyze financial statements. Once they can better read statements, they are prepared to make more informed business decisions. Other decision-makers should also learn accounting principles as they can make decisions that will further grow a company. No matter what an individual’s current role within a company. 

Read more about why you should learn accounting.

Level of Difficulty, Prerequisites, & Cost 

Anyone involved in business knows that accounting is an important skill to have. It is crucial to saving time and money and is a necessary part of running a business. Business owners and managers recognize that accounting is not just using numbers and issuing receipts. Individuals must be able to gather and report information and use those reports to communicate a business's financial position and performance. Once stakeholders have crunched and analyzed the numbers, they use the information to make future decisions.

To become an accounting expert, Individuals begin by learning basic terms and principles. Learning vocabulary first allows them to develop a foundational knowledge of accounting practices. Then, they learn to apply these practices, allowing for more sound financial decisions. Beginner-level courses teach critical financial statements by using examples from actual company financials. Other topics in many beginner courses include accrual accounting, income statement basics, balance sheet equations, and statements of cash flows. 

All future students must complete several prerequisites before earning an accounting degree. First, individuals must have advanced knowledge of high-level mathematics and be skilled in information technology. Typically, accountants have completed several computer science classes. Individuals must also take entry-level business, economics, finance, and management classes. Each accounting class may cost from $253 to $1,263. 

Read more about how difficult it is to learn accounting.

Learn Accounting with Hands-on Training at Noble Desktop

Individuals can learn accounting through finance classes with hands-on training at Noble Desktop. Finance courses boast small class sizes, expert instructors, and free retakes. Noble’s Financial Analyst Training Program teaches excel and critical financial and corporate finance options. Individuals gain basic and intermediate skills in Excel while learning to build a comprehensive valuation model for a public company. Critical concepts taught include advanced Excel for financial modeling and accounting, corporate finance, and valuation. 

Noble also offers Intro to Financial Accounting, through which individuals master the fundamentals of financial accounting and begin taking the next steps in accounting or finance. Enrollees see real-life examples and go through real 10-K’s to better understand how accounting concepts apply to large companies such as Facebook, Amazon, and Apple. 

Key Insights

• Accounting is necessary for all aspects of a company and ensures a business’s financial records comply with laws.
• It allows individuals to manage their finances and advance their careers. 
• To become an accounting expert, individuals must learn the basic terms and principles and then learn how to apply these practices to make sound financial decisions.
• Prerequisites such as a high-level knowledge of mathematics and information technology are required. 
• Individuals can learn accounting through Noble Desktop’s hands-on finance classes.