Financial Accounting - Debit Confusion (expense), Credit Brain Cells (reduction of asset)

Two weeks into the programme and we have finished (the residence part of) our first module and we have had our first exam.

I’m not sure what everyone else’s experiences as an undergrad student were like, but my memories of student life revolve rather less around books and exams and more around the university pub and having endless time to sit around debating the meaning of life – usually doing the latter in the former.

So yes, it has been a shock to my system but I must admit that I have found it to be a good thing. I have been more or less unemployed for most of this year, so I am very much appreciating the opportunity to use my brain again. Although “fun” and “exciting” are not words that I would associate with Financial Accounting, the professors we had were certainly world-class and through their passion and their immense knowledge, they managed to show us how accounting can be interesting and relevant. (Dankeschön Frau Schipper und Frau Francis!)

Tomorrow is D-day, in that we get our exams back and we get to see how much (or how little) we understood of Financial Accounting. But with partial credit on our side, I predict there won’t be any casualties and we will all live to see another day… or at least live to take our next module – Global Financial Management.