Building a Strong Financial Foundation With Accounting Fundamentals
Businesses, from small startups to global corporations, depend on accurate financial records and sound money management. That’s why professionals with solid skills in accounting fundamentals are highly valued. Learning the basics of accounting, such as how to track income and expenses, prepare balance sheets, and understand financial statements, lays the groundwork for success in careers that deal with budgets, finance, or business operations.
These practical accounting skills are transferable across every industry. Students in accounting degree programs gain experience with essential tools like spreadsheets and accounting software, while also learning to think critically about financial data.
Accounting skills prepare individuals for entry-level roles in finance and bookkeeping and open the door to further education and advancement toward becoming a certified accountant.
Examples of Fundamentals in Accounting
Students beginning their accounting education gain hands-on experience with the essential tools and concepts used across the financial world.
They start by learning the accounting cycle, including recording, documenting, and posting financial transactions. These foundational skills are key to understanding how businesses track their financial health and prepare reports for stakeholders.
The curriculum also typically introduces ethical decision-making, payroll systems, and tax fundamentals. Students learn to calculate wages, navigate federal and state tax requirements, and understand the structure of the United States tax system. They also explore computerized accounting systems, gaining experience with digital tools for inventory tracking, billing, and payroll.
As they advance, students study managerial accounting and financial statement preparation, developing a deeper understanding of cost behavior, budgeting, and financial reporting standards like Generally Accepted Accounting Principles (GAAP).
Careers for Professionals with Expertise in Accounting Fundamentals
Mastering the fundamentals of accounting leads to various entry-level roles. Graduates with skills in financial reporting, payroll processing, and computerized accounting systems are well-prepared for positions as accounting assistants, payroll clerks, and bookkeepers.
These jobs are essential in for-profit and nonprofit organizations, ensuring accurate financial records and compliance with regulations. Proficiency in industry-standard software like QuickBooks and Excel further enhances employability in these positions.
Beyond immediate employment, a strong foundation in accounting principles provides a stepping stone for career advancement. Professionals may pursue bachelor’s degrees in accounting or business, leading to opportunities as staff accountants, financial analysts, or auditors. Additionally, obtaining professional certifications such as the Certified Bookkeeper (CB) or Certified Payroll Professional (CPP) can further validate expertise and open doors to specialized roles.
The versatility of accounting skills ensures employment opportunities in a variety of organizations in healthcare, education, finance, and retail, as well as nonprofits and government agencies.
Touro University Worldwide’s Online Accounting Program
The online Associate of Arts in General Studies with a Concentration in Accounting at Touro University Worldwide (TUW) is a 60-credit program designed to equip students with foundational accounting skills for entry-level positions in various organizations, including public accounting firms, private companies, government agencies, and nonprofits.
The curriculum combines 45 credits of general education with 15 credits focused on accounting, covering courses such as Principles of Accounting I and II, Ethics in Accounting, Payroll Accounting, Computerized Accounting, Fundamental Tax Accounting, and Managerial Accounting.
The fully online program offers flexibility with six start dates throughout the year and eight-week sessions, allowing students to balance their studies with personal and professional commitments. TUW’s affordable tuition structure and the opportunity to maximize transfer credits make it accessible for a diverse student population. Graduates are prepared for roles including payroll clerk, accounting assistant, and bookkeeper. The program serves as a stepping stone toward bachelor-level courses in business and accounting.
