In this context, immortality is the capacity to endure across time; it is timelessness! Moreover, the degree of originality and ingenuity.
I have attended a few classes, lectures, seminars, and training sessions, but none of them have a teaching methodology like Corporate Financial Accounting from LBS. The greatest instructors for the course have the best methods for guiding beginners.
After introducing himself, Professor Ojiabo joked that we, his students, were not mortal. We all laughed while debating what he was getting at. As we go along, I will explain,” the professor added.
The expectations of MBA executives from Lagos Business School (LBS) are comparable to that of a superhuman creature called “The Immortal,” he continued. This is because you are expected to make long-lasting advice as and when necessary while also solving company problems at an unfathomable pace. A wide range of abilities, including speed reading, emotional intelligence, problem-solving abilities, and decision-making, are necessary to reach this rank.
The program is a process of refining you to become immortal. Attaining this position comes with the cost of debating the case difficulties, exercising critical thought with the available data, and giving answers without demanding more details.
In Lagos Business School’s MBA Executives program, applying the case technique to business difficulties may be the most effective strategy for staying afloat. His finest approach to instructing aspiring executives, he confessed, is the case method since it simulates actual company circumstances.
An LBS MBA student, in his opinion, is not mortal. Mortals require days, weeks, and even months to find solutions, but as an Executive MBA of LBS, you have a limited amount of time to analyze the situation and offer compelling suggestions.
In the corporate world, you must be outstanding and constantly ahead of the curve to recognize problems before they are noticed by others and to be prepared to address them when they occur. Yes! Given that we do not know who created the box, you must think creatively or even completely break it.
He suggested that we follow the process of learning, unlearning, and relearning the notion that conventions like the classification of assets as fixed or current, or the depreciation of assets, should be company specific and not taken as gospel. He did, however, add that, where applicable, these conventions must be followed.
In a Corporate Financial Accounting class, I had the chance to observe Professor Owolabi’s basic teaching techniques, which even a total beginner in Financial Accounting could easily understand. These include creating a financial statement from scratch and analyzing the financials using ratios. Other things to remember include;
- Reclassification of capital into contributed and earned capital, liabilities into interest-bearing and non-interest-bearing obligations, and assets into income-generating and non-income-generating assets.
- Finding out which activity contributed to the liquidity or not is the simplest and quickest technique to study the Cashflow statement.
- Nothing should be assumed to be true. Every piece of information, including figures, should be examined, and the analysis should take its impact into account.
- Understanding the principle of huge numbers. This makes it easier to identify problems as soon as they arise and to offer remedies.
What a superb faculty team to lead this outstanding course. Professors Chiemeka Ojiabo and Akintola Owolabi.