The Marketing exam went off rather well and at the end, there was a major sense of surprise that we were, indeed 3 subjects down the lane of the MBA. Time flies and how!
So, post the exams we had our German classes (Level 3). In Level 3, the focus is on the current happenings in the world of business with an emphasis on the German economy. The current major topic is the ‘Hartz IV Reformen’ – The German welfare reforms. As most reforms go, there are both sides to the coin and the German media is agog with discussions and debates on Hartz IV. The lecture comprised of readings on the events leading up to the reforms and the economical changes that swept Germany post the 2006 Football World Cup. Post class, partying took on several forms; bar-hopping, movie-hopping and also golfing in the corridor; all in preparation of the Subject no. 4 starting on Thursday
Day 1 of Managerial Accounting started off bright, early and cloudy. Mannheim is experiencing Autumn 2010 and is doing its very best to attain shades of yellow, red and brown. We started to walk through the measurement of costs for different types of costobjects (products, services, organizational units, etc.), the use of cost information for decision-making and the implications of cost allocations. As in all subjects, the work is a mixture of group-work, individual participation and an exam at the end of the course. Also, studying a subject keeping in mind the practical implications of the same is a great way to learn a subject. So, each time we think Managerial Accounting, we think not just in terms of formulae, but also in terms of the movie-studio that tried to use costing to cover its profits and the ice-cream parlor that showed losses due to a bad accountant who clearly did not take Managerial Accounting classes with our professor. 😀
An interesting thing we learn in almost every class is that there may not always be a right answer, just as there is ‘ No true cost’. Also, the answer to a lot of questions is usually ‘It depends’. So, apart from the subject matter that we learn in class, what the MBA will also equip us with is to sift through the unclear stuff a lot better and arrive at the best answer for a particualr sitation rather than the perfect one. Just can’t wait!
Oh and tomorrow, is ‘Diwali’- the festival of lights in India. We have a reasonably large Indian represenration in class and we plan to make some Indian sweets and distribute them in class tomorrow.
So, this evening, cooking beckons. I’ll tell you tomorrow how that experiment turned out.