Having started our practice in the early 1990s, my brother and I have several times over the past 34 years reviewed our processes/practices and have gone “Back to Basics”.
We started our career together in Accounting and Taxation. My brother, exploring new opportunities, transitioned into an insurance and investment advisor.
In 'Accounting,' the basics involved manual bookkeeping, accounting, and using an 8-digit or a 10-digit calculator. Eventually, computerization and accounting ERP software packages took over. Regarding the accounting aspect of our practice, 'back to basics' meant solidifying the core skills that ensure financial accuracy. This involved mastering double-entry bookkeeping, understanding debits and credits, creating financial statements, meticulous record-keeping, and prioritizing accuracy. While staying updated on regulations is important, a strong grasp of these fundamentals empowers accountants to navigate the complexities of the profession with confidence.
In 'Taxation,' the basics involved manually filling and submitting tax forms, poring through several pages of books containing case laws and clarifications, and visiting tax offices for even basic interactions with tax officers. Eventually, tax software, utilities, online tax return submissions, and virtual tax hearings (due to COVID-19) became the norm. With respect to the Taxation aspect of our practice, 'back to basics' meant focusing on the fundamental principles that ensure accurate returns and keep clients compliant. This included shoring up knowledge of tax provisions and regulations, mastering tax calculations, prioritizing accurate record-keeping for clients, and strengthening communication skills.
Back to basics is a concept that encourages a return to the fundamental aspects of something. Back to basics learning emphasizes foundational knowledge and building strong skills.
The idea behind going back to basics is that a strong foundation is essential for building something sustainable and successful. By focusing on the core elements, we can create a more meaningful and fulfilling life. It can be applied to many areas of life for instance everyday living and cooking.
We started this blog with how “back to basics” worked for our professional career in Accounting and Taxation.
If we were to apply this approach to our everyday lives and cooking, here's how it would likely manifest.
Everyday living:
In our fast-paced world, back to basics means simplifying our routine. This could involve de-cluttering your home, setting regular sleep schedules, and focusing on spending quality time with loved ones.
De-clutter your space - Sort through belongings and discard anything unused or broken. This creates a calmer and more organized environment.
Prioritize sleep - Establish regular sleep and wake up times for better sleep quality. Feeling well-rested improves focus and mood.
Connect with loved ones - Dedicate time for activities with family and friends. Strong social connections contribute to overall well-being.
Cooking
Back to basics cooking emphasizes fresh, whole ingredients and simple techniques. It's about enjoying the natural flavors of food and rediscovering the pleasure of cooking from scratch.
Embrace fresh ingredients - Choose whole foods like fruits, vegetables, and lean proteins. They're naturally nutritious and flavorful.
Master basic techniques - Learn skills like roasting, baking, and sauteing. Simple methods can create delicious and healthy meals.
Rediscover the joy of cooking - Take pleasure in the process of preparing food. It can be a relaxing and creative activity.
To sum up, by embracing a back-to-basics approach, we can cultivate a more meaningful and fulfilling life, whether it's in our personal spaces or professional endeavors.
The content made available in this article is for general informational purposes only. While every effort has been made to ensure the accuracy and completeness of the content, it should not be considered as a substitute for professional consultation.
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