#MMBA 4
I never thought I’d be studying corporate financial accounting when I was studying engineering. But as part of my MBA programme at Lagos Business School, I had to learn about this new and difficult subject.
Moving from engineering to corporate financial accounting has been a steep learning curve, but it has also been an enlightening experience that has helped me learn more and prepared me for my future career. I came from an engineering background, so some accounting concepts and terms were hard for me to understand. It was hard for me to analyze and understand data because there were so many financial statements and reports. The complicated calculations and formulas scared me and seemed like they were a world away from my engineering comfort zone.
When I switched to corporate financial accounting, it was also hard for me to understand how different countries and regions use different accounting standards and principles. As a student of engineering, I had never heard of these differences, and it took me a while to figure out how they affect financial reporting and analysis.
Also, it was hard for me to use my analytical skills in a different situation. Engineering involves analysing and solving technical problems, but corporate financial accounting requires a different set of analytical skills to interpret and use financial data for decision-making.
I sought the assistance of my lecturers, my classmates, and various online resources in order to simplify the concepts and the terminology. Working on real-life case studies and group projects provided me with the opportunity to practice interpreting financial accounts and reports. I increased the amount of time I spent studying and going over the information so that I could get to the point where I fully understood the equations and calculations.I used textbooks, online courses, and webinars with real-world examples and case studies to improve my analytical skills for corporate financial accounting. I also worked on group projects with classmates from different backgrounds, which showed me how to look at financial analysis from different points of view and use different methods.
Having an understanding of corporate financial accounting has provided me with the information and abilities necessary to efficiently manage financial resources in any kind of company or organisation.
My ability to understand and comprehend financial statements has positioned me to be an invaluable contributor to any teamwork or individual project. The insights and hands-on skills that I have acquired from studying corporate financial accounting will be beneficial to me in my future career, no matter what industry I end up working in.
Moving from a background in engineering to a corporate financial accounting position has been an experience that has been both hard and rewarding. Despite the fact that, at first, I felt completely out of my depth, I persisted and sought support when I needed it, which enabled me to obtain a deeper understanding of financial analysis and reporting. Studying a topic that is outside of my comfort zone can be an enlightening experience that expands my horizons and gets me ready for future chances. This is something that my previous experiences have shown me. If you find yourself in a scenario that is similar to mine, I advise you to rise to the occasion, make the most of the tools and information at your disposal, and achieve the success you seek. You might be surprised by what you are capable of doing to yourself!
