I have known you for over 5 years so I understand how frustrating classes can be. I am currently taking an accounting class & while in the beginning I was very excited, this class is more intense than I thought. However, I majored in Mass Communications in college & accounting relates to a lot that you may not even realize. Your goal has been to start your own kind’s clothing line & as a management major, accounting is your best friend. When it comes to accounting, it will help keep the IRS out of your business & even you essentially out of jail because it will allow you to have perfect & accurate bookkeeping. If that isnt enough to keep pushing forward then wait untik you hear the rest.
Imagine your company growing to roughly 300 employees. Having perfect accounting skills can help you track if someone was potentially stealing from you & conducting fraud, Having internal control is important. the purposes of internal control are to safeguard assets, enhance the reliability of accounting records, increase efficiency of operations, and ensure compliance with laws and regulations. Learning about the physical control that you can have to keep your business assets safe is very important. These controls include cameras, locks & vaults, alarms & even time clocks.
If your assets are not protected Shai, it could affect your business & your livelihood. Accounting can teach you how to have professional employees monitor your assets as well such as an accountant, cashier & treasurer. I can go on & on about the many reasons why account is important but these are the key reasons. Think about how much money proper accounting will save you.
I would first tell them I do understand how frustrating it is. Reflexing on why I need the class and understanding the need for this accounting class. I would tell her considering the broad scheme of business and the concept we will need it in some form or fashion. Accounting is a great tool to have in your box. Having the knowledge on accounting you’ll be able to make more informed discussion that is related to business productivity. Looking at the sustainment of long-lived physical and intangible assets.
People in management positions have to make many ongoing decisions about assets, assets to acquire and when, how to fiancé them, accounting for them, and when to dispose per Kimmel (2011).Being an expert in accounting is not necessary needed to work at your company, but you do need to understand the just of it. Being a MBA major one need not neglect the influences of declining value of physical assets. Adverse effect may not be notice in short run, but overtime the declining value of physical assets can disastrous without proper planning. Upper level management does the cost sustainment for plant assets, budgeting for the future, and life expectance. Technological advancements need to be taken into account; it’s always a good idea to capitalize efficiency. Preemptive actions are much better than reactive action, also intangible assets. Making sure you setting aside funds to improve upon things like copyright, or patents which give companies a completive edge, but without framing planning a company could be surpassed by those with management skills to compete in the future.
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