By: Jared N., Accounting and Finance Tutor, MBA from Colorado Technical University
Accounting and finance are lucrative as well as worthwhile skills to learn, more especially when you are considering a career in finance, law, economics or business statistics. Still, many people need extra help when learning the calculations, formulas, and strategies required for these fields.
An accounting/finance tutor can help you master the most significant principles involved in creating financial statements. They can also help you become more confident in your planning, budgeting, and financial decision-making skills. If you need extra help and you are considering working with a tutor, you are probably wondering how it works, then I am your tutor.
Here’s what should look for in an accounting/finance tutor, plus what to expect and how to make the most of your experience interactive.
How to search for an Accounting/Finance Tutor
Tutoring can be helpful when you want to supplement to your finance and accounting education. A skilled professional can help you understand foundational concepts and formulas while elevating your knowledge of Excelling in your exams.
An accounting/finance tutor can also serve as a go-to support system when questions arise regarding your own studies. The first step toward searching the right tutor is clarifying your own learning goals.
You need to consider the following questions:
- Why are you interested in studying accounting/finance?
- What outcome do you expect from the experience?
- Are you studying for a specific exam or certification?
- Do you have previous experience with a tutor?
Think of these answers to gain a clearer understanding of what you are really looking for in a tutor. This will help you narrow down tutors as you dive into your search. Next, consider whether you are open to college students or would prefer a professional.
For example, college students majoring in accounting can be a great fit for high school students taking accounting courses. Someone studying for the CPA exam, however, would probably prefer a licensed CPA who’s already taken the test and worked as a professional accountant.
Types of Accounting Tutoring
Next, think about the type of accounting you need help with. Since there are so many ways to specialize in accounting/finance, it’s important to search for a tutor who is experienced in the field you are currently studying or want to pursue.
If you are interested in working for a business or starting your own business, managerial accounting will help you get equipped to measure and interpret important financial information regarding an organization. In comparison, financial accounting is a broader field and can qualify you to work in the public sector, as well as with non-profits and educational institutions.
Once you have a clear idea of what you want to study and what type of accounting/finance is most relevant, you can begin to parse your desired qualifications.
Qualifications for the Best Accounting/Finance Tutors
If you want to ensure an optimal tutoring experience, it’s important to choose a tutor with the proper skills/qualifications. However, not every accounting/finance tutor is created equal. The experience between two qualified tutors can vary greatly, depending on education and work history.
Let’s take a look at the most common professional qualifications you can expect to see from tutors and what they all means.
Certified Public Accountant (CPA)
A CPA is someone who has taken the CPA exam. While each state/country creates their own exam based on local regulations and/or standards, the test is always rigorous and requires a certain level of knowledge and expertise. Individuals who pass the CPA exam can pursue a range of fields and industries. For example, CPAs can go into forensic accounting, litigation, government, non-profit work, business, or more. The field a CPA pursues isn’t relevant to you as a student, unless you are specifically interested in learning about one area of accounting.
You don’t need a full-time accountant for help with accounting, especially if you just need support in a high school or middle college class. If you are not in the market for a certified professional, check how many years of experience someone has had learning or teaching about accounting/finance.
There are a number of other experiences that can qualify a person to become an accounting tutor. For example, a bachelor’s degree in accounting or finance indicates that a person has a deep mastery of the subject.
Plus, a relevant master’s degree (like an MBA, PhD) can demonstrate that someone has taken multiple accounting classes at an advanced level. Someone without a degree in accounting, but with real-world experience managing cash flows and balance sheets, may be just as qualified as someone with an official degree.
When searching for a tutor, keep an open mind and consider all the potential experience and backgrounds that could qualify someone to support your learning goals.
Lastly, consider hiring someone who has experience tutoring. While it doesn’t necessarily mean that someone without experience won’t be a good fit, teaching or tutoring experience can increase the chances that the person you hire will be able to assist and support you when you’re struggling with certain concepts or need a different teaching approach.
Where to look for a Tutor
Accounting/finance tutors exist nearly everywhere. Yet in the digital age, internet access means there’s a wider and more diverse pool of tutors to choose from. This gives you access to a broader pool of tutors and makes it easier to find an online accounting/finance tutor who is right for you, regardless of where you are located or level of your study. It means that someone in New York doesn’t have to only search for experts locally. You can consider someone as far away as San Diego, Ontario, London or elsewhere in the world to help you with your needs.
The cost of a private accounting/finance tutor ranges widely. The tutor’s education, and work experience are the two main factors influencing how much it costs to hire them. It also depends what you are looking for from regular tutoring sessions.
The cost of an accounting/finance tutor who’s still in college will be lower, but as with any tutor, you get what you pay for. A top-tier accounting professional may charge much more for each tutoring session, but you are likely to get better results. The more formal education and workforce experience a tutor has, the more they are likely to cost. If you want more predictable rates, opt for an online tutoring service where you can buy a tutoring package and save on each session.
How to study for Accounting/Finance
If you are in need of accounting/finance help, a tutor can support you along the way. But to continue improving your accounting/finance knowledge when you are not with your tutor, consider supplementing with your own homework. Personal study is an effective compliment to tutoring because you can spend your time reviewing and reinforcing concepts you have learned.
When you get stuck, you can bring those questions to your tutor to ensure you are not missing anything important. Your tutor can also advise you on what books and material to review so that you are studying the right content at the right time.
The right Accounting/Finance Tutor for you
If you want to improve your accounting knowledge and skills, an accounting/finance tutor is a great investment. Hiring a tutor can ensure that you understand the most important accounting principles — whether it’s calculating balance sheets or mastering your role in financial management.
Plus, a qualified tutor can help you feel confident making financial decisions. Accounting professionals can also be a helpful resource when studying for a big test or certification that can define your career. For more information on tutors and to find one who’s right for you, visit TutorOcean.