Accounting: A Core Online MBA Course

The Master of Business Administration is a multifaceted program that encompasses several different areas in both business and administration. One of these areas is accounting. While it is not often outwardly perceived as being a critical component of a MBA, understanding the principals of accountancy is a required trait of successful business administrators. This is because most businesses thrive on profitability. It is therefore prudent for students to study accounting while pursuing an online MBA, but just what is covered in a typical accounting class?

What is Involved in most Online MBA Accountancy Courses?

Many online MBA courses can divide their accounting classes into three critical components: financial accounting, managerial accounting, and corporate finance.

Financial accounting has a strong focus on bookkeeping, which is the process of determining a business’ financial viability. Students will explore basic principals and ethics surrounding finances and delve more deeply into the fundamentals of bookkeeping. Students will come to understand how to accurately record a profit and loss sheet along with using ledgers, journals, t-accounts, and be able to balance accounts using the Trial Balance method.

Managerial accounting aims to apply financial accounting principals. Once successfully demonstrating knowledge in finances, then students will be able to enter the managerial side of accounting. This class covers budgeting principals along with cost projection and cost realization. The knowledge gained through managerial accounting will allow students to apply both areas of study and be able to develop reports for internal consumption within businesses.

Corporate finance stands out as an independent part of accountancy classes as the goal is to provide students with the knowledge for valuations. This means that students will be able to understand the value of assets and be able to make informed judgments surrounding their worth to a business. This valuation process does not have to necessarily be thought of in terms of cash finance. Corporate finance can also be thought of in terms of production time and its impacting value on a product or service.

Is Accounting an Easy Course in my Online MBA Program?

Accountancy is commonly regarded as one of the more difficult components of a business administration program. This is because it is very rigid in its application and does not allow for students to implement their own creative freedom to what they’re learning, which is often welcomed in other components such as strategy and marketing. However, it is a required component in an online MBA program, so students must be able to apply themselves to the teaching and demonstrate themselves as capable.

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