Good & Proper Accounting : Is it a rocket Science?

Hi Friends ! Hope you are enjoying this blog owned by my Son & thank you all for all your view, opinions & blessings extended to him.

Myself is Ritesh Jha, an accounts Professional serving as Assistant Manager-Accounts in a Pvt. Ltd. Company. I’m here to share with you a crucial & much debated question specially now days by & among Entrepreneurs, Corporates & Employees.

"Is Accounting a rocket Science?"

I wish to share my views with you towards this issue :

To be very frank & honest

“Accounting is not at all a rocket science, but in many ways not even a science either. It is purely an art requiring in depts. Conceptual & intellectual skills aquired through practical experiences gained through tackling day to day complex problems. Just like Consumer is king & their delight is the only mantra to survive in the market, similarly strong & good conceptual skills are the key to accounting & application of expertise & intellectual skills earned through day to day tackling of complex problems related to accounts & finance is only mantra to achieve the goal for which accounting is done.”

It is very clear from the above view that accounting is not done for a sake of god & to merely complete a formality. Suppose you have 2 rupees & you spend Rs. 1 out. It is universally known that balance in your hand is Rs. 1. Here no accounting skill is required. Some entrepreneurs are of the thought that accountant's job is merely to keep track of it.

Mind it Mr. X (Entrepreneur), this is not accounting. If you, I & almost all of us are getting the same result then how different is an Accountant from an Entrepreneur. It is needless to mention here that huge amount of entrepreneurs happen to be illiterate.

It is this thought which inspired Michael Chase to write a book on the above topic & it is my must read request to all business heads so that they can understand the importance of accounting.


Let me illustrace the above example further :- Out of balance 1 Rs. What will happen if there is some immediate requirement & you have to borrow Rs. 5 @ 10 % interest p.a. & you further expend Rs. 2 out of 5 & return Rs. 3 to borrower 3 days back & decide to return balance weekly in amount Rs. .10, .20, .30 & so on. You are required to draw you Balance Sheet Weekly.


This is the simplest problem & we are confused. But in accounting these types of problems are faced every day which only experts of the accounting field can tackle.

History reveals that most organizations fail because they handle the accounts people ineffectively or they don’t pay due importance to accounting.

Therefore, it is special request to all Business heads that don’t treat accounting like your dustbins & use it in a manner which can produce you maximum benefits. Overall, Finance is the blood of each organization & the heart accounting take care of this blood in root & let it go smoothly....

Dear, Mind it or not " Accounting is in no way a rocket Science"

Thanks & Regards,
Ritesh Jha

Drop your suggestions at :-
riteshjha@aol.in