Canada How close could I be to an real accountant by just reading accounting books?


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Hi everyone.

I am not an accountant or have an accounting major in any way, but I plan to start my own business someday, so I think that having some knowledge of accounting would be very helpful for me to understand how to make good business decisions.

After I read some accounting books, I said to myself that If the biggest part of an accountant's job is bookkeeping and bookkeeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business, then by reading books to learn all the rules and principles I can do some of an accountant's job too, I know that I over-simplified the whole situation, so I ask you who are real accountants:

How close could I be to an real accountant by just reading accounting books?

Thanks

Ben
 
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kirby

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As close as you would be if you read books on bullfighting and figured you were now a real bullfighter.
 
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As close as you would be if you read books on bullfighting and figured you were now a real bullfighter.
Thanks kirby, it is, hmm, very discouraging, ;) but I will try my best.

You are so active and so kind in the forum, and at the same time, so wise and concise, you're almost like the soul of this place. Could I ask you more questions about accounting or finance later on? It is hard to meet someone like you those days. I am still at the very beginning of everything and I like to ask questions, so ...

Last question:

Are you working in accounting?

Again, thanks kirby and be well!

Ben
 

kirby

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Always feel free to ask questions on the forum. And yes, I do acctg work
 
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Always feel free to ask questions on the forum. And yes, I do acctg work
Thanks kirby.

There are some questions for you, feel free to ignore any of them:

1. How could a person become an accountant? Does he have to go to a college and major in accounting?

2. What other majors of students could participate in the field of accounting, an economics major or a finance major?

3. What major did you choose back then? Accounting? Why? Did you like it when you were in college?

4. What was the first thing in a real-world accounting job that struck you to make you realize how big different between the real accounting and the academic accounting?

5. Are you working in Public Accounting or Private Accounting or you are a partner in an accounting firm? Are you doing auditing? I bet you are a CPA.

6. What kind of questions would you love to be asked? Although it is undoubted that you are decent, but I don't want to be annoying and waste your precious time.

7. Do you love accounting? Okey, a silly question.

Alright, that's all the questions ... for today.

Thanks again, kirby and take care!

Ben
 

kirby

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Hi
I don't answer personal questions. But 1 and 2 are OK.

1. I think majoring in accounting in college is the best way to become an accountant.

2. Given 1 above, the other majors are not as direct and would need the person to include accounting courses while pursuing an econ or finance major.
 
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Hi
I don't answer personal questions. But 1 and 2 are OK.

1. I think majoring in accounting in college is the best way to become an accountant.

2. Given 1 above, the other majors are not as direct and would need the person to include accounting courses while pursuing an econ or finance major.
Thanks kirby.

No personal question next time.

Over years working in accounting, do you think the knowledge of economics, including macro- and microeconomic, is important for understanding what is going on in business and doing accounting works efficiently?

Do you think that knowing the history, evolution and philosophy of accounting is crucial to become an excellent accountant? Do you have any good books to recommend?

Thanks again and be well!
 

kirby

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Over years working in accounting, do you think the knowledge of economics, including macro- and microeconomic, is important for understanding what is going on in business and doing accounting works efficiently?

Absolutely important for understanding what is going on in business. As for how it affects your accounting, yes, because for example if you are an accountant who is creating next year's budget you need to understand how the overall economy affects your business and thus your budget plans.

Do you think that knowing the history, evolution and philosophy of accounting is crucial to become an excellent accountant? Do you have any good books to recommend?

I think understanding how double-entry accounting is more informative than single-entry accounting is important. Unless you are doing accounting research - such as an Accounting Policy job- the history, evolution and philosophy is not so crucial. But being aware of developing issues, by following the writings of the Emerging Issues Task Force, is important for issues that affect your industry.

Accounting textbook: Intermediate Accounting by Kieso, Weygant. This thing is huge. For your purposes, no need to buy the most current edition (17th) - because that is nearly $200.00 There are older editions ( for example 12th about $50 and over 1,300 pages) that will serve your purpose.
 
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Huge thanks and great help.

I found "Intermediate Accounting (14th)", second-hand, on EBay, for $38.63, I am going to bite it.

if you are an accountant who is creating next year's budget you need to understand how the overall economy affects your business and thus your budget plans.
I didn't know that, I thought budgeting was a job of the management.

Kirby, could I sometimes share my progress of reading "Intermediate Accounting" with you and ask you questions if I meet some difficulties? I promise I won't waste your time on silly stuff.

By the way, this place seems to be very quiet, it's always like this? I mean that 14,162 members on this website .... And you joined at May 13, 2011, and still very active and sharp, thanks God for this.

Thanks again and bow to you.
 
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AGH the CPA

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I will mention that accounting is not the most easy subject to self teach, especially at the intermediate or advanced level. You would do yourself a favor by signing up for some basic accounting courses at your local community college.
 

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