MBA Schools That Teach Accounting

[Richie Allen]

I didn't mind it in my MBA program because my undergraduate degree was not in business. I hadn't had Accounting since my Sr. year in high school.

We actually had an accounting pre-req to our MBA program (for non-business majors) and it was, in my opinion, used as a weeding out class. One of the smartest kids I've ever known (head of his law school class at Wash U) failed the accounting class and had to drop out of the program. I just saw that he was named a VP at ComEd so your original thought may have some credence.

[Arthur Dent]

I had no idea what credits and debits are, so I googled it and found this:

http://www.lemoineandjames.com/gaap/23debits.html

Now that is extremely confusing. I think different terminology is needed.

[Michael]

HJ, I think you are on to something. I was shocked when my MBA program waived my accounting class even though I had taken accounting 10 years earlier at a jr college. After reading your post it makes sense, they don't see much value in it either.

Oh and remember that thread concerning my take-home midterm? I ended up getting a 100%. Woot!

[cardsfansince82]

I think I got a lot out of my MBA ACCT class but it was more the style you are advocating than the one you are lamenting. The undergrad class was for T accounts, etc. The MBA course was more for accounting theories, accounting methods, inventory methods, depreciation schedules, parts and relationships of the balance sheet and income statement, etc. Our tests were way more short answer and essays than math. I think it is important to at least have an understanding of these things. Sure, you have CPAs whose job it is to know these things. But it helps to at least have a basic understanding of what they are talking about to inform decision making.

[Leroy]

I had no idea what credits and debits are, so I googled it and found this:

http://www.lemoineandjames.com/gaap/23debits.html

Now that is extremely confusing. I think different terminology is needed.

Like what?

Maybe accountants are just an odd lot, or that maybe accounting is what I consider a different language, somewhat like music. I'm no genius (far from it), but I fell into an intro class (which I was deathly afraid of due to not liking math), but found it very straightforward. While other smarter people in the class looked at the instructor like he was speaking gibberish.

And I was just yanking your chain HJ. I had no idea they taught t accounts in an MBA program. I am an accountant for a medium sized company, and I have never used one. It is much easier to cook the books when debits don't equal credits.

[Leroy]

I think I got a lot out of my MBA ACCT class but it was more the style you are advocating than the one you are lamenting. The undergrad class was for T accounts, etc. The MBA course was more for accounting theories, accounting methods, inventory methods, depreciation schedules, parts and relationships of the balance sheet and income statement, etc. Our tests were way more short answer and essays than math. I think it is important to at least have an understanding of these things. Sure, you have CPAs whose job it is to know these things. But it helps to at least have a basic understanding of what they are talking about to inform decision making.

Good post.

My bosses eyes glaze over when I talk accounting terms. If I was so inclined, I think a five minute presentation heavily laced with accounting terminology would fry their brain. I could talk them in to anything. Hey...........I'll be right back.

[Arthur Dent]

I had no idea what credits and debits are, so I googled it and found this:

http://www.lemoineandjames.com/gaap/23debits.html

Now that is extremely confusing. I think different terminology is needed.

Like what?

I don't know. It just seems backwards to call it a debit when you receive money and a credit when you pay it out. I think it might even be easier if you called it "red" and "blue" instead of "credit" and "debit" just get rid of the associations we have with those words.

[Hungary Jack]

And I was just yanking your chain HJ.

How dare you.

But remember, there's an old saying in Hungary: Then the monkey jumps into the water.

It's not a threat or anything. Just remember it.

[Leroy]

I had no idea what credits and debits are, so I googled it and found this:

http://www.lemoineandjames.com/gaap/23debits.html

Now that is extremely confusing. I think different terminology is needed.

Like what?

I don't know. It just seems backwards to call it a debit when you receive money and a credit when you pay it out. I think it might even be easier if you called it "red" and "blue" instead of "credit" and "debit" just get rid of the associations we have with those words.

I was thinking that was where you were going. And I agree that it is counter intuitive (or whatever that word is). But when you take it in context with all of the accounts as a whole, it makes sense. A debit on the balance sheet = good (cash, etc.). On the income statement bad (expense, etc.). And that is how I really thought of them when I first started.

But to simplify it to where you may want it, you may have to have to have a four color system. Black = balance sheet debit. Red = balance sheet credit. Then come up for colors for income (perhaps muave), and expense (perhaps perrywinkle). I'm just kidding about those last two colors. But in the end, the left hand side has to equal the right hand side, and that makes things very easy.

[Hungary Jack]

I had no idea what credits and debits are, so I googled it and found this:

http://www.lemoineandjames.com/gaap/23debits.html

Now that is extremely confusing. I think different terminology is needed.

Like what?

I don't know. It just seems backwards to call it a debit when you receive money and a credit when you pay it out. I think it might even be easier if you called it "red" and "blue" instead of "credit" and "debit" just get rid of the associations we have with those words.

I was thinking that was where you were going. And I agree that it is counter intuitive (or whatever that word is). But when you take it in context with all of the accounts as a whole, it makes sense. A debit on the balance sheet = good (cash, etc.). On the income statement bad (expense, etc.). And that is how I really thought of them when I first started.

But to simplify it to where you may want it, you may have to have to have a four color system. Black = balance sheet debit. Red = balance sheet credit. Then come up for colors for income (perhaps muave), and expense (perhaps perrywinkle). I'm just kidding about those last two colors. But in the end, the left hand side has to equal the right hand side, and that makes things very easy.

This is all BS. At the end of the day, it's all about cash flow.