Fall is fast approaching. If you have signed up for a life changing MBA program, you will soon have a lot on your plate. Get a head start with an accounting boot camp.
The first semester or trimester usually will have the foundational courses like accounting, finance and statistics which are mandatory in additional to the soft courses like ethics, communication skills, or career related courses. While most students breeze through the soft courses like ethics, communication skills, or career related courses, students find the core courses like accounting, finance and statistics a real challenge. The most common reason that students find courses like accounting, finance and statistics a challenge are usually:
- It has been many many years since the student has left school and will take time to get back into the study routine!
- The student does not have a quantitative background and has not been exposed to topics like accounting or math.
- The first few months of an MBA program is very very heavy on extra curricular activities including orientation, club activities, career related activities, networking, etc which leaves precious little time for personal study.
Given that the first semester is usually a challenge, students can prepare ahead for the first semester by getting a head start on the challenging subjects like accounting, finance and statistics so that they can breeze through these classes leaving more time for other activities.
As accounting tutors, we offer private online tutoring to students in accounting and related topics. We also run accounting boot camps for students starting their MBA programs so that accounting is less intimidating when they are in class.
Sign up now for the accounting boot camp.
A definition of accounting that I have heard often is that ‘Accounting is the language of business’. I think that this is quite a good definition. The key use of language is communication. And the accounting process that culminates in financial statements is one way that a business communicates its business performance to the rest of the world including shareholders, investors, governments and lenders.
However, students often tell me that they unfortunately do not understand the language of business or accounting. I empathize with them! The point that I make is that the fault does not lie with the language of business or, in this case, accounting. The problem, when it arises, lies with the speaker. It is the users of accounting or the creators of financial statements that are responsible for clarity. If the management which creates the financial statements do not want the users to understand the language or to show the true picture of performance, they deploy various tricks to make it difficult to understand the financial statements. We invite you to learn the language of business with one of our accounting tutors online.
One really famous person who understands the language of business is Warren Buffett. He also knows how to do some ‘plain speaking’ ! He recently made his views on taxation clear. He has always maintained that he pays lower taxes than the poor. But his recent article and the timing of his comments have created a splutter! This may not have gone down well with the rich as illustrated by Joe Heller in the Green Bay Press! Joe Heller may or may not know accounting or the language of business but he definitely knows about communicating!
Learn accounting to understand the language of business.
Copyright Joe Heller, Green Bay Press.