Just putting this out there to see what some other students think. I am also majoring in Management so this has my mind thinking about an organisation or accounting firm as a whole.
I found it interesting in the study guide where it talks about when studying accounting and focusing on numbers. If you look at this from a business point of view, do you think a business should solely look at numbers as well?
I personally think its good that this course is not all about numbers. I think that when you are managing a business, numbers only make up one factor of the overall business. Yes you have to be financially stable, and have opportunities to grow and have profit. But, there are so many other factors to consider when having a successful business.
What are your thoughts? What other factors do you think make up a business?
Are you glad this course is not all about numbers?
Sorry for the rambling, this was just a brain dump!
Hi Cassie, I am following your blog, and like your premise: numbers aren't the whole picture! In this chapter, the accounting business model is an important concept that helps us to view separation of the firm and the owners. Because every business is different in structure and operations, this model sure is helpful. In accounting, quantitative information provides us with a way to look at the economic and business realities of a firm. But I agree that value comes in all forms. I interact with businesses on a daily basis that provide me with tangible goods and services that provide me and my family with value (and I never look to the accounting model of business when I am judging value in this instance). In my eyes, these businesses are successful. Both perspectives seem to work well, but I would suppose this depends on the insight you require in relation to value. Great chatting with you
ReplyDeleteHI Cassie ... I like your comments ... and, you know, in business we are not interested in the numbers, but in the business ... so in this course we will have the chance to ask ourselves, can accounting help us, or hinder us, to better connect to what is really going on in our firm ... ?
ReplyDeleteGreat thoughts , if accounting is just all about numbers, i will certainly drop it ASAP at the first place, thankfully, that is not a case,.
ReplyDeleteLike so many of us, I viewed accounting as a financial model, not a business model. This subject is not what I expected at all, and yes, I am glad it's not about numbers.
ReplyDeleteI think it's good to look at it from a different perspective. Business need to find ways to moved forward, and an open mind is definitely required to do this. Although with these great new ideas you still need solid facts to support your new ideas, so that makes me a HUGE fan of figures.
ReplyDeleteP.s. I like your thinking out loud :)
I have worked in Finance for the last 10+ years and must admit my perspective is very number driven. I am finding changing the way I think about business quite challenging.
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