By SIMON CONSTABLE
There's no reason for the average investor to not know some basic accounting.
The reaction of most people will be something akin to "Ugh!" and "Oh no, not chopped liver again!" But smart people who want to get even smarter will learn accounting.
There's also a bonus, you can now do so for free. Here's the why and the how:
Learning the language. "Whenever you move to a new world [or country] you need to learn the language," says Stephen Wood, chief market strategist of Russell Investments in New York. If you want to do well in France then you'll need to learn French; if you want to do well in Germany, then at least an introduction to German would be helpful.
When it comes to investing you need to learn the language of business, which is accounting.
"If you aren't conversant with the language then you can't expect to do well," Wood says. Read more here.