A Practical Guide To An Accounting Essay
An accounting essay is written by a student learning to interpret financial implications arising out of business operations. There are many aspects to accountancy including general ledger, banking, payroll management, purchase, and sales. All these elements are important to summarize the financial position of a company. Well established systems and software have been developed to simplify the process of accountancy, but students need to be able to express themselves in an essay. Concepts matter more than just figures in this case. They need to be able to analyze accounts based on established business systems and concepts. Maintaining up-to-date and accurate figures could help analyze problems leading to deficit. They can predict likely pitfalls based on the analysis. Writing an accountancy essay is therefore of vital importance not only to enhance learning but also to be able to study and write about analysis of a topic conducted over a period of time. Functions that would enhance better understanding have been listed below.
1. Students must be able to highlight important figures and data in their accounting essay. For example, they could accumulate information leading to the analysis of an economic situation. Records would be established related to the event. Figures would indicate monetary benefits arising out of the event. Evaluation based on figures and generally accepted principles, students would be able to study the viability of a business proposition. Readers would be interested in a business essay that highlights examples leading to investment planning and decision making built on analytical systems and generally accepted principles.
2. During the process of writing the essay, students must be able to identify areas in a topic where analysis would allow them to suggest areas that would overcome inadequate resources. For instance, the advertising budget of a start-up company would be limited to several successful advertising methods. By regularly monitoring figures leading to expenditure incurred on a less effective advertising method, students could suggest reducing the budget for the failing campaign in favor of a more successful one. They would thus be able to help in the decision-making process.
3. Maintaining records about human resources is another area of interest. Expenses leading to increasing or decreasing manpower can lead to important decisions. Students must be able to highlight controlling factors related to manpower. Consider the topic “Suggest cost-saving measures in a manufacturing business.” A careful study of human resources available and deputed based on existing market conditions would lead to an analysis of finances involving individuals, areas where expenses could be regulated, and modernization policies to increase production without increasing manpower.
4. Students must strive to be well versed with generally accepted principles and accounting systems in order to be able to express themselves in an accounting essay. Linking various factors leading to compiling an exhaustive report about the financial well being of a business would be easier to include in an essay, if students are thorough with terminology and models. By using their writing skills, they could compile a professional essay in a way that majority of the readers would be able to appreciate without having to seek further reference.
