Teaching Accountancy

Amruta Jajoo | Asst. Professor | Paul University

What is Teaching Accountancy?

Teaching Accountancy is a great Career option. Almost everyone seems to be talking about How to start a Career in Teaching Accountancy, while one should first develop an understanding of What is a Career in Teaching Accountancy. Just like you would normally not trust a non Doctor with names of medicines, you should also not trust opinions about Teaching Accountancy from non professionals.

Asst. Professor Amruta Jajoo has 1 year & 10 months of professional experience in Teaching Accountancy. Asst. Professor Amruta Jajoo defines Teaching Accountancy as:

Accountancy is the practice of recording, classifying, and reporting on business transactions for a business. It provides feedback to management regarding the financial results and status of an organization. Accounting teachers and professors work in high schools, community colleges and universities and will instruct students on introductory coursework or various specialty areas of the discipline.

How Asst. Professor Amruta Jajoo got into Teaching Accountancy?

After doing my schooling from Mount Carmel Girls High School Nagpur, I did my B Com from Centre Point College and MBA from ICFAI College, Nagpur and then did my Ph D in Management from Nagpur University. I always wanted to get into teaching profession and in 2011, I started working as an Asst. Professor for Paul University, Baroda, Gujarat. In 2017, I joined IDP Education as a Clerical Marker for IELTS Exams.

Asst. Professor Amruta Jajoo's Talk on Teaching Accountancy

The Heart of Education: Exploring Teaching and Accountancy Teaching is often regarded as a noble profession, essential for nurturing future generations and shaping society. Dr. Amruta Jaju, a passionate educator with a robust background in accountancy, shares her insights and experiences in the dynamic intersection of these two fields. With her journey embodying the spirit of lifelong learning and commitment, Dr. Jaju illustrates how teaching not only fosters knowledge transfer but also personal growth and community engagement. What Is Accountancy? Understanding the Essence of Accountancy At its core, accountancy is the systematic recording, reporting, and analysis of financial transactions of a business. It serves as the backbone of any organization, guiding decision-making and ensuring financial health. Dr. Jaju emphasizes that accountancy deals fundamentally with money—tracking how it is invested, utilized, and how it circulates within an enterprise. For instance, she notes how a simple investment, such as Mr. A’s one lakh rupees into a new business, requires meticulous accounting to evaluate its financial performance at year-end. Education Streams of Accountancy Accountancy is not a monolithic field but comprises several streams, each catering to different aspects of financial management. Dr. Jaju refers to various specializations, including management accountancy, financial accountancy, and forensic accountancy, highlighting how each niche focuses on unique elements of business finance. Understanding these distinctions is crucial for students, as it allows them to tailor their learning to specific career aspirations and interests. Financial Accountancy Financial accountancy, in particular, is described by Dr. Jaju as the "language of finance," outlining how it conveys the financial condition of a company to stakeholders. By maintaining accurate financial records, businesses can reflect their economic vitality, which is critical for stakeholders like investors and creditors who have vested interests in the company's performance. Different Accounting Concepts A robust understanding of accounting concepts is essential for accurate financial reporting and analysis. Dr. Jaju elucidates foundational principles such as the separate business entity concept, which separates the owner's assets from those of the business, thereby safeguarding personal wealth in case of insolvency. Additionally, concepts like the money measurement concept and dual aspect concept provide the framework ensuring consistency and reliability in financial reporting. Journal The journal is the first book of accounts, where all the financial transactions are recorded chronologically. Dr. Jaju points out that it’s a vital tool for any business owner as it lays the groundwork for maintaining detailed financial records. For instance, when starting a new venture, logging every transaction in the journal allows for an organized overview that can be referenced as needed. Ledger Posting Following the journal, the ledger takes on the responsibility of categorizing transactions into distinct accounts for easier analysis. Dr. Jaju explains that by transferring entries from the journal to the ledger, accountants can keep track of various accounts—like sales and purchases—fine-tuning the financial story told through numbers. Profit & Loss Account The profit and loss account breaks down the income earned and the expenses incurred by a business, allowing stakeholders to assess profitability. Dr. Jaju clarifies that this statement is pivotal in understanding the operational efficiency of a business. By summarizing profits and expenses, individuals obtain insights crucial for financial decision-making. Balance Sheet At the end of the financial year, the balance sheet acts as a comprehensive snapshot of a company’s financial position, detailing its assets and liabilities. According to Dr. Jaju, this dual-column method not only provides a clear view of what the business owns and owes but also guides future financial strategies. Successfully tallying the two sides gives assurance that the financial records are accurate and complete. Skills Communication Skills Effective communication is the cornerstone of successful teaching. Dr. Jaju emphasizes that the ability to convey complex concepts in a manner that is easily digestible for students is critical. By simplifying intricate topics, teachers become invaluable resources for learners who may struggle with traditional materials. Confidence Confidence in one's subject matter is crucial for educators. Dr. Jaju explains that stamina, knowledge, and the ability to engage an audience are intrinsically connected to self-assurance. When educators exhibit confidence, they instill trust and facilitate a more engaging learning environment. Detail-Oriented An effective teacher must be detail-oriented, which is especially important in subjects like accountancy that are rooted in precision. Dr. Jaju articulates that attentiveness to detail not only enhances educational delivery but also ensures that no significant information is overlooked. Computer Savvy In today’s digital age, technological competence is a necessity. Dr. Jaju acknowledges that being computer savvy allows educators to harness various teaching tools and resources, thereby enhancing the learning experience. This adaptability is essential in making lessons more interactive and relevant. Positives Respect One of the most fulfilling aspects of teaching is the respect garnered from students. Dr. Jaju shares her experience where her in-depth knowledge of subject matter earned her admiration and trust among her students, establishing a strong educator-student rapport that can last a lifetime. Growth Teaching fosters personal development and continuous learning. As Dr. Jaju notes, every lesson preparation is a learning opportunity, keeping educators current with their subject. This duality of teaching and learning enhances one's expertise and enriches the educational experience for students. Work-Life Balance Teaching positions often provide a favorable work-life balance, especially for parents. Dr. Jaju reflects on her ability to manage her family responsibilities alongside her professional aspirations, which is a significant advantage in cultivating a satisfying career. Satisfaction The satisfaction derived from teaching is profound. Dr. Jaju describes the joy of seeing former students thrive in their careers as a source of pride, further validating her commitment to education and underscoring the impact a teacher can make in a student’s life. Challenges Constant Upgradation The need for ongoing learning is one of the most significant challenges in the teaching profession. As curriculum and accounting standards evolve, educators must stay informed. Dr. Jaju underscores the importance of regular engagement with new resources to maintain relevance in a rapidly changing field. Low-Paid Job Compensation for teaching positions can vary widely, presenting challenges for educators. Dr. Jaju observes that while some regions may offer competitive salaries, others do not, which can affect the overall perception and accessibility of teaching as a viable career choice. Students' Psychology Understanding student psychology is vital yet challenging. Dr. Jaju recounts her experience with a disinterested student, highlighting the necessity for teachers to engage various approaches to ignite a passion for learning and ensure comprehension, regardless of a student’s initial level of interest. A Day Of A Day in the Life of an Educator Dr. Jaju provides a glimpse into the daily life of an educator, emphasizing a structured routine that combines teaching, preparation, and personal responsibilities. Her day typically spans from 9 AM to 5 PM, filled with classes and lesson preparations. Despite the demanding schedule, she finds fulfillment in her work, weaving together her professional aspirations with her role as a mother. In conclusion, teaching, particularly in the realm of accountancy, is a fulfilling career that demands dedication, flexibility, and a commitment to personal and professional growth. As Dr. Jaju illustrates through her experiences, the journey of an educator is enriched by the connections forged with students and the impact made on their lives. For those contemplating a career in education, it offers a unique blend of responsibility and reward, making it a pathway ripe with opportunities for those passionate about shaping the future.

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How to get into

Teaching Accountancy?

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Links for this Talk

Asst. Professor Amruta Jajoo's LifePage:

[LifePage]
https://www.lifepage.in/page/amrutajajoo

LifePage Career Talk on Teaching Accountancy

[Career]
https://www.lifepage.in/careers/teaching-accountancy

[Full Talk]
https://lifepage.app.link/20180425-0005

[Trailer]
https://www.youtube.com/watch?v=C6g_8EhCjZQ

(Teaching Accountancy, Dr. Amruta Jajoo, Assitant Professor, Paul University, Accounting, Professor, Financial Management, Finance, Accounts)