Can I Learn Accounting On My Own? [The Surprising Truth] (2024)

Many people want to learn accounting, but don’t know where to start. The career options can be great once you understand it. The good news is that with a little dedication and effort, accounting can be learned on your own.

However, it’s important to note that learning accounting takes time and isn’t something that can be learned overnight. We’re going to share with you, how you can learn accounting on your own and how to approach it so you find success.

Can I Learn Accounting on My Own?

Yes, you can certainly learn accounting on your own by studying online resources and being dedicated to learning accounting. It is similar to learning a foreign language or music skill since you will have to study.

However, it will take longer to learn accounting on your own than if you were to take a class or have someone else teach you.

There are many online resources that can help you learn accounting. You can find websites, books, and articles that will teach you the basics of accounting. Once you have a firm understanding of the basics, you can move on to more advanced topics.

To be successful in learning accounting on your own, you need to be dedicated to the process. You should set aside time each day or week to study and practice what you’ve learned. If you keep at it, eventually you will become proficient in accounting.

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Get Started with the Basic Accounting Equation

How to Approach Self-Taught Accounting

If you’re interested in self-taught accounting, there are a few ways you can go about it. Starting with the basics is always a good idea. Learn the basic accounting equation, assets, liabilities and equity, in-depth.

Next, you can learn the principles of accounting by reading books or taking online courses. Once you grasp the basics, you can start asking questions and get more specific help from online forums or accounting professionals.

It can also be useful to get an accounting tutor if you plan to teach yourself and start to have questions about the concepts.

Learning accounting on your own can be daunting, but it’s definitely possible with some dedication and effort. Expect concepts to not make sense or be challenging at first. This is where you will need to get over the learning curve.

Sticking with it is the only way. The math in accounting never gets too complex so don’t let that put you off. By starting with the basics and gradually learning more advanced concepts, you’ll be able to master self-taught accounting in no time.

How Long Will It Take to Learn Accounting on My Own

If you’re wondering how long it will take to learn accounting on your own, the answer is 6 months to a year for accounting fundamentals. However, it takes time to become proficient in accounting and there is no one-size-fits-all answer.

You have to remember that professional accountants usually take 4 years of college. They take even longer if they want to study for the Certified Public Accountant (“CPA”) designation. For that, they need 150 credit and 4 years of college usually just gets students to 120 credits.

The amount of time it takes to learn accounting depends on your prior knowledge and experience, how much time you’re willing to dedicate to learning, and your learning style.

If you want to become a certified public accountant (CPA), you’ll need to complete additional education and pass the CPA exam, which can take 4-5 years. There are really no shortcuts for that route and the CPA boards will want to verify credits taken.

If you just want a good-paying job in accounting then there is nothing wrong with teaching yourself.

Where Can I Find Self-Taught Accounting Resources

If you want to learn accounting but don’t want to take a formal class, there are plenty of resources available online. You can find videos, articles, and even entire courses that will teach you the basics of accounting.

One great way to learn is by reading examples. There are many websites that offer sample accounting problems and solutions. This can be a great way to see how the concepts you’re learning are applied in real-world scenarios.

Taking an online course is another excellent option for learning accounting. Many courses are self-paced, so you can work at your own speed. And, most of them offer a certificate of completion that can be useful for job applications or networking opportunities.

Should I Take a Course in Accounting?

If you’re looking to learn accounting quickly, then taking a course is a great idea! You’ll be able to pick the niche you want. Maybe you want to learn basic accounting.

Alternatively, maybe you have those skills under your belt and you want to dive deeper into real estate accounting. That’s the beauty of taking a course.

Stick With It

When learning accounting, it’s important to stick with it. Don’t get discouraged if you don’t understand something right away as we mentioned before. There is a time for everyone when starting out with accounting when it can feel like an uphill climb.

Just take your time and set realistic goals when trying to learn. More complex concepts like depreciation and inventory write-downs can take multiple days to grasp. That is to be expected. If you keep at it, you’ll eventually get a hang of things.

Pretty soon you’ll be able to do your own accounting if you own a small business or even make a career shift into accounting.

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Ask Questions When Learning Accounting

When it comes to learning accounting, there are a few key things that you can do in order to make sure that you understand the concepts and can apply them correctly. First, take the time to post online and ask questions when you are unsure about something.

This will help to clarify any concepts that you are struggling with. Don’t just sit on them or skip over them. Accounting is a lot of building on the base concepts so make sure they are ingrained like debits, credits and understanding them through journal entries and T accounts.

Additionally, get involved in discussions with other accounting students or professionals in order to gain a better understanding of how the accounting world works.

It is great to learn all the concepts but try to understand the role of an accountant and what goes on in a day-to-day perspective if they work at a company.

Finally, don’t be afraid to get a tutor for help if you are having difficulty understanding the material. Having a live person explain accounting, one-on-one can be a game changer to learning the material.

Practice Problems and Get Hands-on

If you want to get better at accounting, one of the best things you can do is work out practice problems. This gives you a chance to see how the concepts you’re learning are applied in real-world scenarios.

Don’t skip any practice problems once you have finished an accounting concept. Instead, seek out some accounting practice problems.

And it’s not just about getting the right answer. Working through practice problems also helps you build critical thinking and problem-solving skills. That’s why it’s important to practice as much as possible.

So if you’re feeling stuck, don’t be afraid to roll up your sleeves and tackle some practice problems. Try to understand why you may be getting them wrong and go back and reread or rewatch videos if needed.

Final Thoughts if You Can Learn Accounting on Your Own

Learning accounting on your own is more than possible. Many people do it and make a career change. There is no denying that it will take hard work and dedication, but it can be done. In this day and age, there are many resources available to help you learn the basics of accounting.

Once you have a solid understanding of the basics, you can begin to learn more advanced accounting concepts. Push on and we are certainly here for your learning journey!