Even though reading is the most studied aspect of human learning, this situation persists. Why?
As this article from American Public Media say, kids must be explicitly taught how to connect sounds with letters. They must learn phonics.
It's frustrating to see a better way, a known effective method, go to waste.
A simple fact also explains the why people can't read balance sheets and income statements. It's not because of the numbers. It's because they don't understand the words.
Like English teachers should be teaching sounds, accounting teachers should focus more on what the few critical accounting terms mean (and don't mean.)
Revenue doesn't mean money, even though many dictionaries say it does. Revenue is an activity, not money.
Equity isn't a stake in a business . That would be an asset, as seen from outside the business looking in. Equity is inside the business looking out.
Phonics helps accounting students too. We ask, what's the sound of income? Everyone answers ka-ching. But that's the sound of cash. Better to say, snip-snip, in a hair salon. Or type-type in a law firm.
But enough of me sounding off. Thank you for reading this.