September 3, 2007

Accounting is a Game and I don't know the Rules

From Getty Images
Our Language of Business (LOB) second quiz is fast approaching and I'm not that confident with what I know as of now. The topics include Revenue and Monetary Assets, Cost of Sales and Inventories and Non-monetary Assets. (Ack! The non-Finance guy in me is very afraid.)

As our teacher Prof. Larry Tan said countless times, accounting is a subject that really makes little sense-- It's a subject defined by conventions and rules that you don't need to think sometimes, just know what other people are doing. From my background as an Engineering graduate, knowing a problem in and out is what I've been accustomed to and this rules-based approach would probably take me years to master. My performance also hasn't really been dazzling. I feel my Class Participation (CP) is mediocre at best.

Another beef I have with financial accounting is the multiple of interpreting and recognizing when you are making money (revenue). I have to admit, I had a rather simplistic financial world view a month ago and LOB has definitely taught me a lot. However, I do feel like a baseball player being taught how to play cricket-- I think I can be good at it but there are just too many nuances.

So, I'll be doing my version of "heroic" studying later. I hope I'll have a better grasp of the (accounting) rules by tomorrow.

--

One thing I look forward to is the weekly basketball game we play against the MBA seniors. Last week, we won handily thanks to their shortened bench and our team had a couple of Indian spark plugs who played with great energy. I'm thinking the seniors will bring their "A Game" this week.

--

Random Rant: We have a ton of deliverables this week with Marketing Management (MM) and Management Communication (MC) adding to our class to-do list, apart from studying for exams. It doesn't help that there's some confusion on our outputs are.

--

On a positive note, this blog has been noticed at Pagalguy.com, a very helpful forum site on MBA studies. I was able to gather a few helpful nuggets from that site when I was doing my business school research. The feedback has been encouraging and I hope people and possible MBA applicants will see AIM in a different perspective via this blog.

5 comments:

Monica said...

:) I envy you. I graduated 2006 and believe me, the 2 years I spent in AIM were unbelievable. When we graduated, everybody wanted to re-enroll! Unfortunately, the real world bites you in the ass hard and pulls you back into the working world. At least in AIM you work round-the-clock but you have so much fun doing it.

Janet P. Givero-Salazar said...

Hello. As I've told many of my AIM classmates (batch 2006) during our after-class "tutorial" sessions on accounting, the subject is really easy. It's basically just an EQUATION. And since you are an engineering graduate, equations are pretty easy for you. It all depends on how you approach it. Wish I could give you tips in person. Goodluck!

Regnard Kreisler C. Raquedan said...

@monica:

I'm still in the process of finding the fun in some activities, although it is getting better by the day. I have no reason to doubt, I'd want to re-enroll when things are done and over with.

Regnard Kreisler C. Raquedan said...

@Janet:

Hi! I assume your the accounting whiz of your batch? ;)

You are right, I'm OK with numbers, but like I said, accounting is really a numbers game where the GAAP makes the rules. I think I can be good at this, but it's gonna take some time.

Thanks for your support! :D

Eid gifts to Pakistan said...

Hello,
I am agree with your that accounting is really a numbering game. Its is a interesting one in all business. You feel happy working with number.