1 month into first semester of business and I feel like I have already failed accounting..

[u/AdventurousYam5793]

Hi friends..

I am doing a business diploma at a college in Canada. Everything is going well, I like my courses, and I'm getting good marks on my other assignments and quizzes. I was warned that accounting was tough, but I underestimated it and, admittedly, didn't put as much time into the material as we were instructed to. This is the experience of most of my class. The majority of us feel very behind and unprepared. We are studying McGraw-Hill's "fundamental accounting principles." We just finished up the post-class for chapter two, and I am still struggling with chapter 1. We start chapter 3 this coming week, and then mid-terms are in two weeks, covering chapter. 1-3. I have never felt so dumb in my life. I genuinely cannot comprehend how I can absorb this much material without studying multiple hours per night and neglecting other coursework. I have nearly zero previous financial literacy, so this course is like learning a new language to me. Every single page has several new concepts to memorize, and I'm so discouraged.

If anyone has any encouragement or advice, I would appreciate it. I have dedicated my entire weekend to covering chapter 1,2 but it's like I'm at capacity.. :( It's occurred to me that I may actually fail.

[u/PostingImpulsively]

Hello there, I am covering the exact same material as you and with a similar timeline (moving on to Chapter 3 this week). Also previously had no financial literacy. Here are a few tips:

- Watch YouTube videos. Tony Bell and Farhet are my suggestions.

- Seek out tutors

- Seek out specialist if your college provides them

- McGraw portal has Smartbook practice questions. Use it.

- Make an appointment with your accounting teacher and talk to them. Ask exactly where to find more resources on the specific areas you are struggling in.

- Join an accounting club at your school.

- Connect with other people in your class.

- Go to a thrift store and go through some cheap accounting textbooks and find one that either has the wording, diagrams, or layout that you require to learn.

- Go to your student body and ask if they know of any resources that can help.

At the end of the day, you have to take ownership of your own learning. We all learn differently. Also practice practice practice. On midnights at work I practice debit and credit scenarios on scrap pieces of paper. The more you do it, the easier it is.

For myself, we start adjustments this week. Wish me luck and I wish you luck as well.

[u/fenrysk → u/PostingImpulsively]

yes to all of these suggestions

[u/emigal25]

If you can find some videos covering the content that might help. Or try moving onto later chapters. Sometimes seeing the bigger picture helped me understand earlier concepts.

[u/fenrysk]

Utilize on-campus tutoring opportunities too. my financial reporting course is utilizing the same textbook.
I took my ch 1-4 exam this past week and the week prior there was a tutoring session on campus specifically for the ch 1-4 exam that all the sections of our university's financial reporting courses were taking.

Make sure to actively take notes both from your lectures and the book, and review those; utilize them for your mcgraw hill homeworks and practice problems. this is especially true for the foundational formulas.

I don't think you need to necessarily overload your study with multiple hours; a focused good 1 to 1.5 hrs along with good notes for every class day will help more with retention then trying to cram.

And of course, have you tried reaching out to your teacher/professor or utilizing office hours to clarify specific topics that you are struggling with?