Financial Accounting; overcoming my negative relationship with it.

I had always thought enjoying financial accounting was an elusive idea until I enrolled in the MBA and experienced the teaching of a certain facilitator – we will call him “Dr. O”. I had always perceived financial accounting as a daunting subject to be approached with trepidation. The teaching patterns I had experienced only served to reinforce this perception. Fast forward to the LBS MBA program and in comes Dr. O with a spectacular teaching pattern transforming the learning experience, turning what was once considered dry and complex into an engaging and enjoyable journey. His use of interactive learning, careful dissection of terms, visual aids, real-life examples, story-telling, conceptual understanding, and patience made accounting relatable and interesting to me.

In the past, I had been taught accounting through traditional lectures and monotonous explanations, which quickly turned the subject into a snooze-fest each day. I had submitted to the thought that I would probably never understand further than the ones I had been made to understand on the job. To my surprise, the interactive learning method deployed by Dr. O made the learning process engaging. He would often break down the components of financial statements by using the case study of an illiterate woman who wanted to start an Akara business. This informal case study was used for three sessions and we watched the woman grow her business as our elements of financial statements expanded. This story not only kept the class interactive but it was relatable and easy to visualize. He deconstructed terms that I had previously only known the textbook definitions but never quite understood the depth.

Rote memorization of rules and formats made accounting tedious and uninteresting. Dr. O’s spectacular teaching pattern focused on conceptual understanding rather than memorization. By explaining the underlying principles and logic behind accounting practices, I developed a deeper appreciation for the course. Understanding the “why” behind the “how” made it more intellectually stimulating and enjoyable. Instead of presenting abstract concepts in isolation, Dr. O connects theories to real-life situations and demonstrates how financial accounting is applied in actual business settings.

Financial accounting is not just about numbers, it is about telling the story of a business through its financial statements. Dr. O’s teaching pattern uses story-telling to weave a narrative around financial reports, which helps me easily visualize the company’s journey and understand the impact of their financial decisions. He shows the flow between daily business operations of supporting departments and draws the line from each department or function to financial accounting. Through this, I can trace the financial impact of every non-financial decision made by the company. At the core of financial accounting is problem-solving and Dr. O’s methods often require critical thinking to dissect complex financial scenarios. He strives to turn the task of devising financial solutions from a daunting task to a stimulating puzzle.

By emphasizing the practical and relevant aspects of financial accounting, I believe other teachers can cultivate a generation of financially literate individuals who are not necessarily accountants by profession, but understand the language of business and appreciate the art and science of financial accounting.