MBA Students / Graduates
Almost 60% of MBA students in India are not employable!! An important reason is their discomfort with Financial Statements and numbers
There is a dearth of quality business schools in the country. Out of the large number of Tier 2/3/4 colleges, many are not equipped to provide quality education which is relevant to the industry. Hence, most MBA students struggle in their jobs and are unable to compete with their peers from top B Schools like IIMs, or CAs.
It is very difficult for most academic institutions to keep pace with the industry. Hence, most colleges end up spending significant time to teach theoretical concepts which are not always relevant to the industry.
MBAs are aspiring Business Managers, and business is all about wealth and money creation. It is therefore essential for every MBA student to have knowledge of the practical aspects of Financial Accounting, and this becomes a challenge. Without a reasonable understanding of Financial Statements, it is almost impossible for MBA students to be successful managers in a business, no matter what their domain specialization is.
Even if they manage to land a job, they are likely to struggle to grow into senior positions, where a clear understanding of the Profit & Loss account, Cash Flows statement and Balance Sheet becomes essential.
The SoundBasics course ‘Financial Accounting for MBAs’ has been specially crafted to fill this gaping hole in a MBA student’s armoury.
How can the course ‘Financial Accounting for MBAs’ help MBA students who are already specializing in Finance?
MBA-Finance Students are taught a number of high end & technical topics, like:
- Discounted Future Cash Flows, Net Present Values, IRR
- Business / Equity / Goodwill / IPR valuation
- EVA (Economic Value Added) etc.
Without undermining the importance of the above high end and technical topics, it might be fair to say that businesses require these expertise only occasionally, and not regularly. In most businesses, these are rare exercises – normally entrusted to consulting firms.
As against this, what an effective and efficient F&A function/department really needs is to deliver the following consistently, day in and day out:
- Complete & Correct Accounting
- Sound & Effective Internal Controls
- Effective compliance with key Business Laws
- Accurate & Timely Financial Statements (Profit & Loss, Balance Sheet, Cash Flow)
- Appropriate Interpretation of the Financial Statements (Management Reports)
With an unwavering focus on these Key Essentials, the SoundBasics course ‘Financial Accounting for MBAs’ ensures that MBA students get much better equipped to deal with the rigours of demanding industry jobs.
What does the course ‘Financial Accounting for MBAs’ specifically deliver to the MBA student?
Many MBA students do not have a commerce background. Hence, some training in Accounting fundamentals is necessary for them to grasp more advanced Finance & Accounts concepts.
The SoundBasics offering ‘Financial Accounting for MBAs’ covers Financial Accounting in 2 phases:
- Phase 1: Fundamentals (Debit-Credit Concepts, Direct-Indirect Expenses, Capital-Revenue Expenditure, Accounting Entries etc) to ‘T’ Accounts and Trial Balance, followed by Transaction Processing, Processes & Controls.
- Phase 2: Preparation of Financial Statements (Profit & Loss, Balance Sheet and Cash Flows), and Financial Statement Analysis.
The 2 phases taken together are delivered over 36 to 50 hours of learning, approximately.
Without a solid grip over the above essential topics, MBA-Finance students find themselves at a distinct disadvantage over CAs, when it comes to assuming senior F&A positions in industry. It is this gap that the Sound Basics offering aims to fill.
Title: MBA Students
Reviewed by SoundBasics
Summary: MBA Students
Description: Almost 60% of MBA students in India are not employable!! An important reason is their discomfort with Financial Statements and numbers.There is a dearth of quality business schools in the country.