Education is one of the most important treasures that an individual should cherish and give due importance to. The aforementioned adage might sound like a cliché, which is often used by educators who would like to make their students take studying seriously. However, during my time in the university wherein I attended a business program that specializes in accounting, I was able to realize that education is indeed important in order for me to succeed in life. The help of professors and other people who have the knowledge and expertise about business and accounting can really help a student like me to reach my full potential and further develop my talents and skills.
Before, I always thought that business is about practice, implementation, and application. I always have this perspective that to be successful in the business field all I have to do is apply the right strategy and tactics when it comes to building my own business and negotiating with other people. As a result, I really do not give much importance to theoretical lessons because I believe that at the end of the day street smarts will still reign supreme as compared to mere book smarts.
Nevertheless, my time in the university have substantially change my perspective about the importance of business education because my attendance in business programs have opened my eyes that mere strategy and tactics without the necessary theoretical foundations will not take me far in the competitive world of business.
Business accounting program is the area of business studies that I took in the university. I can say that accounting is one of the most technical parts of business education. Accountancy is a form of communication but instead of using mere words, it employs the use of numbers and economic resources in order to convey its meaning to other people. In the field of business, money is very important which is why it is necessary for managers and shareholders to understand the way by which their money is used in the business as well as the standing of their individual shares in the company.
In order to answer all the many related questions about the business of a certain company or corporation, proper accounting of the business’ resources should be done. Accountancy help to interpret financial forms and data in such a way that it chose information that is relevant and understandable to the stakeholders in a company or corporation. In line with this, the success or failure of a business is also very pivotal, especially in terms of identifying the areas in which the managers and other stakeholders of the company should improve on. Accountancy helps in pointing out the causes for the success or failure of a business through the mathematical science that it implements.
The importance of accountancy in business processes and operations which I have previously mentioned, are just some of the things that I have learned. By taking the business accountancy program, I was able to realize that engaging in a business is not merely about street smarts and practical application because theoretical foundations and the lessons a student will learn in a book or in a classroom is also essential.
I was able to come into terms that if I did not take my accounting program seriously other people might take advantage of me when the time comes that I am already part of a company or corporation or if I have already established by own business. However, come to think of it, creating my own business might not even be possible if I did not take business education seriously.
During the time that I was in class or in one of the accounting programs that I have to take part in, I realized that accounting is really important because it serves as the record of all the money that comes in and out of the business. Accounting reminds the stakeholders of the company or corporation of the assets that they have as well as the liabilities that they have to address. Bookkeeping and auditing are some of the most important parts of accounting that ensures that all the money that was used corresponds with the purchases and other business processes that are involved.
Bookkeeping and auditing are actually important means that checks whether a person or a group in the company is doing unnecessary spending or even stealing. In relation to this, one of my professor even said that most companies who experience stealing and fraud are usually composed of managers and administrators who are not well-adept with accounting or who do not give much importance to this part of the business operation.
Being the case, I really take my business accounting program seriously because if my dream is to have my own business one day, I should learn the way accounting works in order for me to know the causes why a business succeeds or fails. I also want to prevent unnecessary spending or stealing happening in my company.
Theoretical foundations are indeed important, especially in terms of understanding the terms and concepts that are related with accountancy. Nevertheless, accountancy is also very much practice-based in a sense that all things that we have learned in class discussion should also be applied. The real understanding of the lessons in class is usually seen in the way by which we actually applied it. As a result, the business accounting program that I attended also give due attention and importance to the practical application of the theories and lessons that we have learned.
In this sense, the business program that I attended in the university has really equipped me with the necessary knowledge and skills that prepared me in having a bright future in the business field. In order for me to properly communicate with other people in the business world and also with the general public that is affected by business decisions, I should really give importance to accountancy. I have realized that in order for me to become successful, I should give importance and even master the language of business, which is also known as accountancy.