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