Understanding Principles of Accounts (POA)

Principles of Accounts (POA) has nothing much to do with maths. Yes, this might come as a surprised for some. Principles of accounts (POA) do not require you to do have much maths knowledge except for simple maths rule of addition, subtraction, division and multiplication. This is something you would had learnt in primary school. Then what is principles of accounts (POA) all about then?

 

Principles of Accounts (POA) is about understanding the concepts rather than memorizing formulas. There are a couple of formulas and formats in Principles of Accounts (POA) but memorizing it will not bring you much far in it.

 

We had all learnt about Principles of Accounts (POA) concepts since young and in our daily life applying it. When we save up money to buy something that we very much want, we need to calculate how much we need to save as savings through deducting expenses (money spent on that USS Sentosa theme park or on that fast food meal) from income (could be allowance from parents). Any positive savings would mean that we made ‘Profits’ and this could be saved up as ‘Retaining Earnings’ for us to buy the item that we want.

 

This is what Principles of Accounts (POA) is all about. It is how we determine the profits or loss we are making and establishing the current financial status we are at. Instead of measuring it from an individual point of view, we are doing it for a business or company. It gets a bit complicated nonetheless compared to your simple favorite item purchase but the basic concept remains the same.

 

My method of teaching Principles of Accounts (POA) is to relate these basic concepts to your everyday life and you will soon see that there is not much difference in what you are doing everyday compared to the theories you are reading. Through practices as well, you will then realized that Principles of Accounts (POA) is one of the easiest subjects in N or O levels because it is just only concepts coupled with addition, subtraction, division and multiplication!

 

Let’s learn Principles of Accounts (POA) together and enjoy the learning process!

Group Tuition (Principles of Accounts - POA)

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