Knowing basic accounting skills can help any business or personal finances.

SARASOTA, FLORIDA, UNITED STATES, March 28, 2018 /EINPresswire.com/ -- The critical part of any financial well-being has become certain knowing principles of accounting. Kim Habibi wants people to see the importance of understanding basic accounting skills for their everyday life.

When a person hears the word 'accounting,' they think of a team of people crunching numbers. Also, they feel like the job is too much for a person to handle. But Habibi wants people to know that accounting can be easy to understand and incorporate into their daily lives.

The same can become said for business owners. Hiring an accounting firm to handle business financials have become costly. But if a business owner can understand basic accounting principles, they can save time and money. Every company needs people to make sure the financials are in good order, but not many owners understand they can do it themselves.

"For people who don't own a business, knowing accounting can go a long way in saving money," says Habibi. "From buying a car to keeping track of money for a vacation, basic accounting skills should become a regular subject for all to know."

Many people become intimidated with finances and keeping track of numbers. It might seem impossible for someone who doesn't understand accounting to set aside money for savings each month. With some understanding of accounting, people can gain a much deeper understanding of what goes on with their own money.

These same people use the excuse that they are "not good at math" to explain their reluctance to understand accounting. But simple match only is needed to comprehend the basics. If they can add, subtract, multiply, and divide, then they are all set. With a simple understanding, one can save money for a trip or even future purchases.

For a business, cutting down costs can help a company grow and succeed longer. Sometimes the fees for an accountant can put a company out of business. An educated owner who knows the basics of accounting can keep them on top of business decisions and save money.

"Today, many business owners are taking the steps to learning the basics of accounting for their business," Kim Habibi says. "Because of this, they save money by not hiring an expensive accountant."

This reasoning is especially valid for a small business. These type of companies cannot hire an outside pair of eyes to keep track of the finances. Also, learning just a few basics of business accounting can go a long way.

Not only will the company save money, they know the company's health at all times. Also, they can learn to read a balance sheet, income statement, and cash flow statement. Keeping track of these documents on their own will let them be able to know the company's health.

Does a company have too much business debt? Are they paying too much interest? Which clients owe money? All of these subjects can be answered right away if an owner is keeping track of the accounting.

If a business hires an accountant, they are one of many clients. It could take some time for an accountant to get back to a client about the health of the finances. Also, if an owner is keeping track, they know exactly what is going on and how to fix it.

"Making smart business decisions starts with understanding accounting," says Habibi. "Instead of waiting for an accountant to crunch the numbers, they can have real-time figures for business decisions."

Also, there is no freedom for a business owner than being able to know the finances of their company. They can answer any question at any time about their business.

"I hope more people take the time and effort to learn basic accounting," says Habibi. "It changed my life personally, and it can change yours too."

To learn more about Kim Habibi, please click here.

Eric Ash
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