Tips for stronger financial literacy

10 February 2017
bookkeeping course

If it’s your goal to become a bookkeeper or accountant, you’ll need more than just a bookkeeping course. At The IIE’s Business School we like to offer our students advice that helps them excel and reach their goals. Here are a few tips to grow your accounting financial literacy skills.

Know the difference between bookkeeping and accounting

bookkeeping course

This one might seem obvious but it will help drive you towards the areas of interest that best suit you. Whilst many often use the two terms in the same context, the skills and responsibilities involved tend to differ. Bookkeepers keep records of sales and record them directly into books. Their daily responsibilities include that every cent made or spent by a business is recorded and accounted for. On the flip side, an accountant draws up and analyses financial statements. They also conduct audits on the books to ensure that they are totally accurate.

Make peace with spreadsheets

bookkeeping course

Whether you’d rather be a bookkeeper or an accountant, a spreadsheet is your secret weapon. This is because they help you track numbers and convert calculations to form important financial spreadsheets. Knowing the basics is great, but you’ll need to sharpen your Microsoft Excel skills if you’re going to stand out.

Register for an accredited bookkeeping course

bookkeeping course

Whilst there may be a few cheaper or even free programmes online, you need to ensure that it’s recognised. If it isn’t, there’s no use putting it on your CV. Look out for reputable academic providers. If you’re not sure, look them up online to see what people have to say about them.

Read a few books on the matter

bookkeeping course

Why not purchase a few books online or pay your local library a visit so that you can read up on accounting or bookkeeping? It’s also worth noting that these books will be full of researched information.
Here are a few that we recommend:

  • Introduction to Accounting, by Pru Marriott, JR Edwards, and Howard J Mellett
  • College Accounting: A Career Approach by Cathy J. Scott
  • Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports by Thomas R. Ittelson

For more on our ICB Bookkeeping to Trial Balance Programme, please visit our website today.

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