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But does that apply to business management?
by greazy 1y ago
But does that apply to business management?
- WalterBright 1y agoI do not have formal training in business management. But I'm pretty sure that formally learning it is not useless knowledge, if one intends to manage a business. For one example, learning accounting. A lot of people try to run a business without understanding how double-entry bookkeeping works. This gets them into trouble with the IRS, for one result, and with bankers, for another. During summer vacation, at loose ends, I signed up at the local college for a course in double-entry bookkeeping. It's paid off for me ever since.
- greazy 1y agoMy personal opinion is that BM is a weird world and I don't know how it can be standardized and taught in a formal setting. It is domain specific and sometimes even company specific. How such a thing can be standardised and formally taught is the question I'm interested in.
- WalterBright 1y agoI'm not the right person to ask that of. Maybe an MBA from Harvard.
- conductr 1y agoAlmost nobody in a business needs to know double-entry except for the accountants. You need to know accounting concepts (what can be expensed verses capitalized, how does bad debt get treated, etc) and how to read your financial statements. If you're a solo person, maybe how to reconcile accounts. But, all that can be taught in a workshop or simply by doing some online research on the topics. Double-entry accounting isn't necessary if you plan to hire a bookkeeper/accountant, it's kind of the sausage making part of company financials.