Today I checked to see if my final worth 35% of my grade had been posted with a score and you wouldn’t believe it, but I made 100% on it. It’s the only 100% I’ve gotten on a final since, well I think ever. I couldn’t believe that I even got all of the numbers and applied concepts correct over the span of about 12 or more type written pages along with tables, graphs, etc. Nice little confidence booster since Managerial Accounting was one of the 3 classes I was really dreading but I made a 97 or 98% on it, not bad for a hack. Managerial Finance has really picked up right where Managerial Accounting left off so I’m hoping that some of this success will translate to good things to come for this class.
My book the Portable MBA in Finance and Accounting has been most useful, I even used it some more tonight, however it is more of the “why” and less of the “how” than the textbook. The brilliant thing about using this book though is that once you have the formulas down, when you are hit with a case study the “why” becomes just as important if not more so than the “how”. Again, anyone considering an MBA should pick up a copy.
Another thing that Managerial Accounting did was reinforce that any expectations you have about which class in the MBA program will be the tough one will likely be wrong. It’s impossible to know before hand. I seriously labored under much more frustration in Managerial Economics and Business Law than I have in Accounting or Finance thus far. Perhaps because I have learned better study habits, perhaps because I have just gotten into a mathematics mindset since I’ve been doing it for 19 weeks in a row, perhaps because I’m better at math (highly doubtful) or perhaps I was just sent reeling after the first assignment because my expectations for those 2 courses were way off the map. So I’ll say it again, toss any assumptions you have in the garbage now and it will help you in the long run. I’ll also reiterate that it is highly important that you do not search out an “MBA-Lite” or and MBA with few if any quantitative courses as I am quickly discovering that these course teach you the essential skills you will be expected to have once you complete your degree. Seriously, how foolish would you feel if someone asked you to determine something as basic as the present value or future value of a set dollar amount at a given discount rate only to have you reply with “huh”? Big shot MBAs have to know the time value of money among other things in order to make those big picture decisions.
Well it’s 4AM and I’m delirious from work and homework, so I’m out.