Oludotun Oseni

I never knew it will be part of my life forever, I would have show more interest from the beginning of my education . When choosing department to go in secondary school days, I chose Art department , I didn't do anything accounting, when I got to university to study economics, I borrowed from Business Administration department, instead from borrowing from accounting department , I would have been introduced to Accounting. Till today, that has been the costly mistake I ever made, for not taking any course in Accounting department.

I think I never learnt anything from Business Administration department , but it hurts me that I never learnt anything from Accounting till now.

 Anywhere I turned to, Accounting is part of my requirements to further my career. I have turned down many professional bodies because of accounting , I was not surprised when I got to Lagos business school , and accounting was made compulsory. At this time, I have no option, I have to face it , I have to find ways to learn it .

In my career life , as a leader and business owner , my understanding of accounting is very important for many reasons and they are ;

As a business owner , I need to be aware of the financial condition of my company , the profitability and the prospect of the organization. Without the sound knowledge of accounting , I wouldn't be able to establish good compensation and bonus system in the organization.

Our first assignment of analysis of financial report of companies, my group worked on 5 companies, I was able to understand the important and benefits of financial report. Financial reports reflect information about the past performance and current resources available to companies in term of profitability.

With the little I have learnt thus far , I understand that the stockholders and directors demand financial accounting information to assess the profitability and risks of companies , the bank and other lenders demands financial accounting information to help determine loan terms , loan amount , interest rates and required collateral.

In the world of accounting , when you are increasing your assets , you have to debit  the account, I find this very difficult to understand , infant , I don't know the rationale behind that school of thought , I may not be able to find reason for that , but as a student of accounting , I have to accept that expense increases at the debit side of the table .

I am increasing my knowledge of accounting in every class , we started with asset must equal to the liability and owner's equity , different types of account , from there , we move to adjustment . I am happy , I have found joy in reading accounting materials , truly , the lecturer really tried and I will not forget my guy , Lanre Popoola for his patience to explain those areas I find difficult to understand.

I think the Corporate and Financial accounting is really adding meaning to my life, I still have a lot to learn and share in the course of my program in Lagos business school. 

Truly, without the knowledge of accounting , you can't run an organization successfully.