Tuesday, March 8, 2011

Business School Blog: Foundational lessons in finance

I recently spent my weekend in "class." I'm currently a business school student enrolled in an executive MBA program and I was learning about finance with a group of pharmaceutical and healthcare professionals. The class was an interesting experience because none of us are "financial experts." We simply don't work in the finance industry and none of us are in the habit of crunching these types of equations on a daily basis. So, we were reviewing basic concepts like the time value of money and the application of Excel spreadsheet functions like PV, FV, NPV, PMT, NOMINAL, EFFECT, and others. We also reviewed some accounting principles related to balance sheets, income statements, cash flows, and financial ratios. This Finance Foundations course provided a great introduction to finance and this summer I'll be taking Managerial Finance. I've already taken Accounting Foundation and I'll be taking Managerial Accounting later this year as well.

If you don't have any formal training or education in finance, consider investing in a course (or a graduate degree) so that you can learn some of the basics and get firmly rooted in the fundamentals of business finance.

I am currently a business school student in the Pharmaceutical and Healthcare Executive MBA program at Saint Joseph's University Erivan K. Haub School of Business in Philadelphia, PA. The Nationally-ranked and AACSB-accredited Haub School of Business, centrally located in the mid-Atlantic pharmaceutical and healthcare corridor, is able to bring together industry experts and a world-class faculty for a unique industry-focused, immersive executive program.

You can read about my business school experience by reading all the blog posts tagged "Business School Blog."

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