When something doesn’t look right, I ask for the accounting transactions, and then I can usually tell the exact business situation someone was in when they decided to make that accounting choice.Ģ) Ask your professors for extra help, or find a tutor (preferably one who is a CPA and has worked with business). When I meet with a new client now, the first thing I ask from is three years of past financial statements. Every financial statement, and every transaction is actually a story of what is going on with a business. I have two suggestions for you that you can take or leave:ġ) Think of accounting as a language, not math.
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If you think about every business scandal that has happened in the past 20 years, from Enron to Worldcom, Lehman Bros to Bear Stearns, all were based on accounting principles (and accountants) going awry, and very few people seeing the signs before it was too late. I know this may sound like anathema, but accounting is the bedrock of all businesses (especially if you will be going into Business Analytics). However, having 20 years of practical experience under my belt, and having had to deal with accountants (controllers, CFOs, CEOs, Small Business Owners, etc.), the one thing that kept coming up in my mind was “I wish I took more accounting courses”.
#TULANE CORECLASSES HOW TO#
When I was taking Accounting classes, I too questioned the need for the detailed accounting education when I knew I wanted to go into marketing, entrepreneurship, and consulting – why do I need know how to properly credit and debit transactions, create T accounts, and appropriately account for contracts. I graduated with an MBA from Tulane over 20 years ago and have worked in all sorts of industries and business capacities. I came across your blog and would like to share some of my thoughts with you. A single business subject that does not relate to your concentration should not hold a person back from excelling and doing their best here at Loyola. Keeping up with the homework and work for other classes was a huge struggle and I fell behind which made it difficult to learn the material taught later in the class since I was not entirely caught up on what was common knowledge of later chapters. When I took accounting my first time it was extremely challenging. I believe that this workload is unbearable with my classes, extracurricular activities, and everyday life. It is a heavy workload for a single class considering you have homework due before every class period. Especially to students that are new to the practices like me. Taking these accounting classes takes hours of a students time.
In these intro classes there are many units and these units are based on practices in these fields.
Many majors within the college have intro classes including management and marketing. A question that comes to mind when taking these classes is: why do I, a business analytics student, have to take two intermediate accounting classes? An intro class that introduces the concepts of accounting to me would make much more sense as a class to choose from. As a business analytics major I know that the use of accounting is useful, however I do not understand why there are two separate accounting classes principles of financial accounting and managerial accounting. It takes a lot of time learning the material and practicing in order to fully understand every step in the accounting process. Accounting, being one of the hardest business majors because of the amount of precision needed to do the work correctly, is a difficult course. Within these cores, a business student has to take two accounting classes no matter what their major is. Is it fair to put unnecessary core classes into a student’s workload?Īs a student of the College of Business here at Loyola University, like other colleges, within the school there are a set of core classes you have to take in order to graduate.
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