- Organising finances. Not only yours, but especially that of a company or institution. Accounting tutors will teach you how to keep organised financial records and how to design strategies to create a budget and control spending so that it does not exceed the budgeted amount.
- Making decisions. It is through the financial statement that managers can make decisions. That is why proper record keeping is so important. Collecting, summarising and interpreting the numbers is essential to making an economic decision for the company.
- Obtaining loans. Dealing with banks and financial institutions may not be an easy task when a company needs a loan. Therefore, your private teacher will teach you how to present the financial statement, which includes the current situation, profits, assets and liabilities of the company. This increases the chances that the bank will decide to lend to the company.
- Provide information to investors and stakeholders. Financial statements are prepared by an accountant with the objective of keeping creditors, customers, employees, investors and even the government informed. It is after examining the company's financial statements that you will be able to raise funds.
- Checking the company's profits. Profit information is one of the skills you learn from an accounting teacher. Regardless of whether it is small or large, a company needs an accounting system to decide on big projects and the path it is going to take.
How can you tell if accounting is for you?
There are some subjects that are definitely not for everyone and accounting is one of them. When they have already started the course, many students look for private accounting lessons to help with maths. Study accounting if you identify with the following statements:
- You don't hate maths. Accounting classes are basically a constant use of numbers. Luckily, basic concepts such as addition, subtraction, multiplication and division can often suffice. And, of course, mastering Excel is essential! For this, many students look for courses or even a private excel tutor who can help them.
- Organisation makes you happy. If you consider yourself good at sorting things out, not just money but everything around you, you might have the personality of an accountant. You'll love accounting classes where you learn how to put everything into spreadsheets.
- Your friends say you're a perfectionist. For students with an organised profile, there's nothing like putting everything in columns, cleaning up the numbers and getting the formulas to work. Accounting classes with a private tutor can help you organise everything in an Excel file. Total satisfaction.
4 habits accounting students should have
If you have ever used a private accounting tutor, it is probably because you have had difficulties with maths or are studying to become an accountant. Here are some study habits that will help you excel in accounting:
- Solve all kinds of questions.
Don't just study what's on the exam, study all the accounting topics your teacher covers. Not knowing how to approach a question can cause you to waste time and draw a blank during the exam.
- Take quizzes after each class
The best way to reinforce content is to take quizzes to see what you have really internalised from your notes. Then, make sure you are able to solve a problem without consulting your notes.
By asking your private tutor questions, whether in an online or face-to-face class, students are more likely to increase their knowledge and score high marks on their exams. Don't be afraid to ask questions, private tuition is all about you and is focused on your needs.
- Do your best from the very first lesson
Spend a little time every day, ask your private teacher questions and take the exams at your own pace. This way, by exam time, you'll have the knowledge memorised and won't have to race against time.
Advantages of private accounting lessons
Private accountancy lessons have become very popular nowadays because they offer intensive content tailored to the learner. Whether you are tutored by a university lecturer or a classmate who is more knowledgeable than you, it is definitely an effective way to learn accounting quickly.
You can learn online or even do classes at home. In big cities like London or Birmingham, it is very easy to find tutors near you. Here are some advantages of private tuition:
- Improve your maths. The main difficulty in the first semesters of learning accounting is usually maths. Often the class is too short to solve all your doubts, so count on the help of a private tutor to solve specific problems.
- Increase your knowledge of Excel. To learn Excel, you can watch video tutorials, try it yourself by testing formulas or get help from a tutor.
Tailored content. Finally, no matter what your level is, there will always be an experienced private tutor to help you with the topic you are finding difficult. They will be able to orient the classes around difficult topics to help you overcome your weaknesses.