Earlier quoted context omitted.
"learn business" was mentioned but there seems to be a lot discussion here around accounting and finance - those aren't "business", at least not the core of it anyway. Accounting for one is recording what has already happened in a business - its merely reporting, nothing more. Its a reporting function of business. There is far too much focus I feel on accounting and finance in MBA courses. Its not business. An MBA de…
Completely disagree with this. To use an analogy the purpose of an artist is to communicate emotions from the artist to the public through works of art. But training to be an artist is learning brushstroke, chiseling technique and what not. Sure the purpose of business is selling products and making profit and that’s the big picture but a huge part of the daily practical reality of doing business will involve account…
Without doing business and creating value, there is no accounting, or finance. Often Accounting and Finance exist to keep risk manageable and if you let it too long, avoid it entirely.
Creating Value is almost certainly working through some amount of risk.
In a business, Accounting and Finance on it's own may not always create value, unless it's an accounting/finance business.
Conversely, creating value without accounting and finance will make it harder to retain the value created.
Accounting and finance functions are mostly about retaining what is working and making it more efficient.
Innovation Accounting, is another thing that is not always measured on the P&L.