<p>So, I got back my accounting midterm today and, not surprisingly, I received a D on it (the average is AB). This class is the intro course that every accounting major is required to take, and I have been struggling in this class since day one. </p>
<p>I just don't get it. I can handle hard classes like physics and calculus with ease, but something with accounting just doesn't click for me. Throughout the semester, I constantly go to accounting tutoring and study groups, but for some reason I'm still not catching up!! So frustrating. </p>
<p>So, does anyone have the similar experience as mine? I really need some advice and suggestions on studying accounting. Thank you!</p>
<p>Try going to office hours and have the prof or TA explain transactions by illustrating “T accounts” (debits and credits) step by step. Accounting can take awhile to get the hang of. </p>
<p>You need to first understand the basics, mainly what are income/expense accts vs. balance sheet accts (assets, liabilities, equity). What does a Balance Sheet show you (snapshot in time of what is there and how it was financed) vs Income Statement (revenue, expenses, profit over a specified period of time). </p>
<p>Once you thoroughly understand these, you can understand how transactions work, and how accounting is used to describe transactions. It really is like learning a new language, or how to read music.</p>
<p>What are you having trouble with, specifically? It’s been a few years since I was in college (OK, 25!), but I am a CPA and I can say that there were lots of parts of accounting that did not “click” for me until I was studying for the CPA exam.</p>
<p>I was a major in physics and switched majors to accounting. In my opinion, accounting and physics are similar in one way: you either get it or you don’t. People who do well in both subjects don’t necessary study the most. I would strongly urge you to do the following:</p>
<ol>
<li><p>Re study the accounting equation. Everything flows from that. You need to understand that cold!</p></li>
<li><p>Meet with your professor with some specific questions and issues for discussion.</p></li>
<li><p>When you study for tests, really focus on the solved problems in the book and make sure you thoroughly understand them. </p></li>
<li><p>Review all homework and make sure you know those problems cold too.</p></li>
<li><p>If necessary, get a tutor. You would be surprised how much you can improve with regular tutoring. Good luck.</p></li>
</ol>