It is often said that accounting is the language of business. It is a language we should all be familiar with, whether you're a small cog in a Fortune 500 Company, a mid level manager, a Sole Proprietor. We all don't need to be fluent in it, but all of us in the professional world should all know the basics. If your involved with a community group, such as a youth sports organization or church, knowing the basics of accounting will help you a great deal too.
I used to think a company's accounting department basically just kept the company checkbook balances. Granted I knew that wasn't a simple task, considering number of vendors, utilities, and general bills a business has. Not to mention the payroll, taxes, property & business loans and all the other stuff. I've found out it's much more than that.
As I write this, I am currently taking some accounting and business classes at a local technical college. What I learned from my Principles of Accounting class really opened my eyes. Now many things that take place in the business world make so much more sense to me. I also now understand why my friends who are accountants or in other financial professions drink so much. They hate that joke, but demographic also doesn't seem to have much of a sense of humor. But seriously, when your manager or a company accountant gets worked up because you didn't turn in your time card, or misplaced a packing slip it can be a big deal on the accounting end of things.
I started this blog for sharing my professional ideas, observations and rants to others office processionals in a managerial position, who are making an effort to climb the ladder to such a position, Sole Proprietors and people like me, who work full time and try to run a side business from home. For all of these people, one of the most important pieces of advice I can give is: take some accounting classes. Even if you know for a fact that you'll never do any type of accounting in the future, taking a Principles of Accounting class will improve your professional life.
Learning the basics and having a understanding on why things are done the way they are done, on the financial side of business will reduce your and your company's account's frustrations and make the flow of the business world around you much better. If your a Sole Proprietor a firm understanding of accounting is not just handy, it is a requirement.
If you're a Sole Proprietor without any training in account, you really need to take a Principles of Accounting class. Because unless you have a really good CPA, your losing money in places you didn't even knew you had.
I feel so strongly about professionals learning, at a minimum, the basics of accounting so much; I made this a page on my little blog instead of a post that will get buried in the heap. I want to make sure people see this, read it, and give it some thought. If I ran a business with even twenty or thirty employees, I would make sure all office team members and everyone in a leadership role through out my company has taken a Principles of Accounting class. If they didn't, I'd send them to one on my dime. That investment into my team member would pay off immediately.
