An Exam of Case Studies or a Case Study of an Exam?!

Can accounting relate to something other than journal entries, trial balance and final accounts? Can it ever not relate to a share capital a/c, a goodwill a/c, a sinking fund reserve a/c, a redemption reserve a/c or the saving grace, a ‘suspense a/c’? Well, Financial Accounting and Analysis at London Business School made me see accounting in a new light!

We had a case study every class and only case studies for exams. These case studies highlighted the critical role of accounting policies of companies as well as their considerable impact on the financials and consequently on the valuation metrics. A close watch on the revenue recognition, depreciation and expensing policies of the company coupled with one-time items which claim to construe exceptional earnings distortion, would certainly go a long way in assessing the sustainability of current operations of the firm and also, in forecasting its future earnings potential.

When Prof. Ahmed Tahoun proposed the format of the exam, we were actually quite certain that he was joking. He also added that we would enjoy writing the exam and that the questions would make us smile. True to his promise, the questions did make us smile, though the paper was quite long making our tired muscles scream and complain towards the end of the three-hour exam! It was a refreshing new perspective on an age-old subject!

Career Goals: Is it natural for a possible change in orientation?!

There are three types of people – those who are focused, those who think they are focused and those who are open to options from the start. Though it’s commendable to have focus, it’s no way a crime to be open to options or to change orientation along the way. Those under the second category are the ones who are more likely to be prone to peer pressure. These are the more talented ones too as they are aware that they are capable of performing well in more than one area, and hence the option of considering alternatives.

The broad areas in finance are investment banking, asset management, private equity and venture capital. Starting with one of these and ending up in another one is quite common. What matters is whether you are equally or more passionate about the area that the reorientation lands you in.

A reorientation based on untiring research and unimaginable efforts at networking with alumni from relevant sectors lays a solid foundation for career progression in the chosen area. While reorientation is natural, it would bear fruits only when combined with a renewed drive. As you will soon realize, most people around you will fall under the second and third categories while only a handful fall under the first. Hence it is absolutely acceptable to change orientation in career goals along the way!

Well, about me? Honestly, I thought I knew what I wanted! Currently I’m exploring my options and weighing pros and cons but I’m nearly where I should be!!!