Accounting is a core pillar of the business world, and the demand for skilled accounting professionals continues to grow. With roles ranging from certified public accountants (CPAs) to financial analysts, this field offers lucrative and rewarding career opportunities. However, succeeding in accounting requires more than just a knack for numbers; it demands dedication, discipline, and effective study strategies.
If you’re an accounting student or on the path to becoming a CPA, this guide is for you. Below, we share the top 15 study tips to help you excel in your accounting courses, ace those exams, and set yourself up for success in 2025 and beyond.
Understanding Your Learning Style
Identify Your Dominant Learning Style
Everyone processes information differently. Are you a visual learner who thrives with charts and diagrams? Maybe you’re an auditory learner who absorbs information best through lectures or podcasts. Or perhaps you’re a kinesthetic learner who learns by doing, such as solving practice problems.
Tip: Take a quick quiz or reflect on past study experiences to identify your dominant style.
Tailor Your Study Approach
Once you know your learning style, adjust your study methods to fit. For instance:
- Visual learners benefit from diagrams, color-coded notes, and flashcards.
- Auditory learners should focus on recordings of lectures and discussing topics aloud.
- Kinesthetic learners should work on hands-on exercises, such as solving case studies and working with accounting software.
Time Management Strategies
Create a Study Schedule
Consistency is key when it comes to mastering accounting concepts. Develop a study schedule that balances coursework, practice exercises, and review sessions. Set aside specific times each day to focus exclusively on your studies.
Prioritize Tasks
Avoid the trap of last-minute cramming. Prioritize tasks by breaking down large topics into manageable chunks. This ensures you’re consistently making progress and reduces the stress of overwhelming workloads.
Tip: Use productivity tools like Google Calendar or To-Do apps to stay on track.
Effective Note-Taking Techniques
Methods for Organizing Notes
Great notes are a key resource for effective studying. Consider these tried-and-true methods:
- Cornell Method: Divide your notes into sections for main ideas, supporting details, and summaries.
- Outlining: Structure notes hierarchically with bullet points.
- Mind Mapping: Connect ideas visually in a diagram.
Active Listening and Summarizing
Pay attention during lectures and actively engage with the material. After class, summarize the concepts in your own words to ensure you truly understand them.
Utilizing Textbook Resources
Strategic Reading
Textbooks are packed with valuable information, but you don’t need to read every word. Focus on:
- Chapter summaries
- Key concepts highlighted in bold or italics
- Example problems
Use Study Guides and Practice Questions
Many accounting textbooks come with study guides or online supplements. Use these resources to reinforce your knowledge and test your understanding.
Practice Problems and Exercises
Why Practice Makes Perfect
Accounting is a subject best mastered through repetition. Work on problems until the steps to solve them become second nature.
Where to Find Problems
Look beyond textbooks. Many institutions provide past exams, online accounting tools, and forums like Reddit or specialized accounting websites for practice questions.
Seeking Help and Collaboration
Join Study Groups
Study groups with peers allow for the exchange of ideas and solutions. A fresh perspective from a peer can often provide clarity on topics you’re struggling with.
Seeking Help from Professionals
Don’t hesitate to approach professors, teaching assistants, or tutors when you’re stuck. They can provide guidance tailored to your specific challenges.
Utilizing Technology and Online Resources
Online Accounting Courses
Platforms like Coursera, Udemy, and LinkedIn Learning feature comprehensive accounting courses that align with your needs.
Accounting Software and Apps
Familiarize yourself with accounting tools like QuickBooks, Excel, and Xero. Many educational resources include tutorials to help you master these tools.
Creating Flashcards and Mnemonics
Effective Flashcards
Keep flashcards simple. Dedicate one concept or example per card and quiz yourself regularly.
Using Mnemonics
Use mnemonics to memorize lists or procedures, like recalling the accounting equation (Assets = Liabilities + Equity) with phrases like “All Lovely Elephants.”
Reviewing and Summarizing Material
Regular Review Sessions
Schedule review sessions weekly to revisit and solidify previously learned material. Spaced repetition enhances long-term memory retention.
Consolidation Techniques
Use tools like one-pagers or summary tables to compile key takeaways from a topic in one place for easy reference.
Taking Breaks and Maintaining Balance
Benefits of Breaks
Short breaks boost productivity by preventing burnout. Use the 25/5 Pomodoro technique – 25 minutes of focus followed by a 5-minute break.
Relaxation Activities
Try activities like yoga, meditation, or even a quick walk to refresh your mind between study sessions.
Exam Preparation Strategies
Simulate Exam Conditions
Practice past exams with the same time constraints and environment as the real one to build confidence and time management skills.
Review Past Exams
Identify pattern topics and questions. Focus extra attention on sections where you tend to struggle.
Staying Organized and Focused
Design a Study Space
Dedicate a clutter-free area for studying. Keep essentials like notebooks, calculators, and texts readily available.
Minimize Distractions
Turn off unnecessary notifications and use apps like Focus@Will to stay focused. Noise-canceling headphones can also help.
Maintaining a Positive Mindset
Believe in Yourself
Confidence directly impacts performance. Replace negative thoughts like “I’ll never get this” with affirmations like “I’m improving every day.”
Overcoming Challenges
View mistakes or setbacks as a learning opportunity rather than a failure. Analyze what went wrong and adjust your strategy.
Learning from Mistakes
Analyze Errors
When reviewing incorrect answers, identify the root cause of your mistakes. Are you rushing? Missing key details?
Adapt Your Approach
If a study method isn’t working, be flexible. Experiment with different strategies until you find what works best for you.
People Also Ask
What are the most effective study techniques for accounting?
Active problem-solving, regular review sessions, and hands-on use of accounting software are among the best techniques.
How can I stay motivated during CPA exam preparation?
Break your goals into smaller milestones and celebrate small successes. Join online forums or support groups to stay connected with other candidates.
What tools can help me study accounting effectively?
Flashcard apps, accounting software, and online learning platforms like Coursera and LinkedIn Learning are great tools.
Take Charge of Your Accounting Success
Success in accounting is all about finding what works for you, staying consistent, and learning from your experiences. With these 15 tips, you’re well on your way to mastering your courses and exams.
Are you ready to take the next step? Start implementing these strategies today, and watch your confidence and skills soar.