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Managerial and Financial Accounting

managerial and financial accounting globsyn business school

As business students it is important for us to connect with the corporate world in order to know how it works how it functions. At Globsyn Business School we got this opportunity.

Mr. Aditya Sharma, Senior Vice President of Boson Energy-Asia, came to our Campus to teach us the fundamentals of accounts and share his knowledge Managerial and Financial Accounting. We were taught the basics of accounts specifically trading account, profit loss account, balance sheet, trial balance observation etc. Finance background students were overjoyed with such an exposure of the finance world while students from non-commerce streams were happy to have learned so much in one day and as a result of which, their interest in finance increased.

Mr. Sharma shared his vibrant experiences and gave us important inputs of how a trial balance is to be observed as well as how to read numbers, analyze them and draw conclusions thereby increasing financial accuracy as well. Such programmes of corporate connect is very productive as we were given a quick lesson on financial statement reading, how to solve financial problems and other aspects of the subject. This session was especially very much useful for the non-commerce students as it helped strengthening their finance base and the discussion regarding some advance financial topics sparked interest in many of them.

We can conclude by saying that such corporate connects are productive and useful as we have learned a lot from this session and looking forward to many more of such learning experiences.

Amiya Paul
PGPM – IB Batch 04, Globsyn Business School

 

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The second corporate connect was with Mr. Aditya Sharma, Senior Vice President-Asia Bosom Energy, who took the session on Managerial and Financial Accounting, designed especially for beginners and intermediate level students of Finance – who would not only like to get a good grip of the concepts of the subject but also be able to comprehend the intricacies of the financial world.

Mr. Sharma made us understand about the various steps of accounting methods starting with the primary concepts of accounting. Then he taught us how to post entries from Books of Journal to Individual Ledger Accounts through which he showed us how to get our accounting right when the Trial Balance is tallied.

It is due to his explaining that we understood that Accounting is not just about maintaining entries but regulating and observing how the total amount of money is transferred in and out of a business, and how liquidity is affected by maintaining Cash Flow Statement and Fund Flow Statement. Finally he quizzed us on why we maintain books of accounts, and why and how we maintain the financial statements of a company in order to gauge our understanding of the subject.

Most of us read the news without really paying attention to the financial news. This is due to the fact that most of us don’t comprehend the basics of the subject. This Corporate Connect Program helped us a lot with clearing all our doubts regarding the basics of Accounts and by making us understand what Accounting and Finance is all about. This lecture taught us how to understand the complex topics by breaking it down to simple concepts.

Srijata Chakraborty
PGDM Batch 08, Globsyn Business School

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