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Growing up in a world of uniformity. where everyone was very similar to me in terms of appearance, language, and moral outlook, I felt secure in my identity and comfortable in such a familiar environment. Moreover, with those around me mirroring my cultural background, it was easy for me to figure out my persona; however, that assurance was shattered when I started college in the United States.   Thrust into a world of diversity, I was surrounded by staff and students represe

How Studying My Major Changed the Way I See the World I originally thought that studying accounting and economics consisted of mathematical operations and number-based processing. This belief made sense to me when I first encountered it. The main function of accounting and economics appeared to be business transaction documentation and financial system operation for government agencies. However, as I advanced in my accounting and economics studies, I realized that these disci

Numbers Can Lie—But Only If You Let Them: Many Cases Where Accounting and Economic Data Create Misunderstandings Initially, I believed that numbers represented facts that existed independently of human interpretation when I first started my work. This belief seemed to follow a logical pattern. People consider numbers to be unbiased because they deliver exact results. However, the research I conducted in accounting and economics showed that numbers can become deceptive when pe

Incentives Change Human Behavior in Exams, Salaries, and Taxes At first, I thought that human actions were mainly driven by what people value and their personal work ethic. The general population accepted this concept as a valid truth during their normal daily activities, understanding that their achievements required individual dedication. The general population accepted this concept as a valid truth during their normal daily activities, understanding that their achievements

Moments When Accounting Information Changes Managerial Judgment My initial understanding led me to believe that managerial decisions were mainly driven by experience and intuition. Managers seemed to follow this method because it appeared to be their natural approach. Managers chose to use this method because they depended on their ability to make decisions instead of using numerical data. However, my accounting research showed that managers base their choices on the informat

The market research for my startup revealed that business revenue expansion does not necessarily guarantee improved company profit margins. My previous understanding identified profitability as the most important measure, which I believed would determine business success. This belief seemed logical to me. This belief seemed logical to me, as profit serves as the core element that enables businesses to maintain their operations. My research in accounting and economics demonstr

Why the Same Inflation Is Experienced Differently My understanding of inflation evolved when I analyzed how price fluctuations impact people's daily lives. At first, I believed inflation was a single economic indicator that influenced everyone in the same way. This assumption seemed logical. This assumption seemed logical because inflation is usually reported as one percentage rate in news articles and official government reports. However, my study of economics revealed that

I utilized my acquired knowledge to develop a new method that enabled me to analyze depreciation. Business financial records remained unaltered by depreciation, which appeared to be a basic accounting entry. The assumption seemed logical because depreciation does not require any immediate cash payment. I learned through advanced accounting studies that depreciation describes how business assets lose value due to extended usage over time.   The rule affects financial documents

I began to understand GDP differently when I learned about its multiple limitations. At first, I thought GDP provided an unambiguous and dependable method to assess national performance. People accepted this view because GDP serves as the primary metric that economists and government officials use to analyze economic conditions. Economic research revealed to me that GDP only tracks specific economic activities while failing to capture essential elements that exist in actual s

I created a new financial statement analysis method based on the data I received from this subject matter. At first, I believed that financial statements were simply collections of numbers that showed whether a company was doing well or not. The numerical presentation of financial statements made this belief appear logical. However, the accounting curriculum revealed to me that these numbers serve as records of business operations and documentation of management decisions, ra

Initial accounting studies led me to believe that a company must have cash when it generates profits. The statement appeared to be logical. The statement appeared to be logical, as the definition of success leads to profit, which leads to financial gain. However, the topic of financial accounting revealed that my previous knowledge about this subject needed major corrections and I required additional information.   Businesses maintain independent financial records, which trac