Habacon, George Matthew International Legal Accounting Standards An Essay on the Article: The Cesar A.

Mansibang (CAM) Accounting Model for Decision-Making Made Easy for the MBA student The article discusses our professors unique way of viewing the teaching of accounting to MBAs or lawyers as more than just a study of mix of numbers but as a study of accounting as the proper language of business that it is. The article first lays down the premise that accounting should not be made complicated than it is actually is. Although the article acknowledges that accounting is a challenging subject, it nevertheless points out that it is not as difficult as it is made out to be. The article first shows the various myths associated with accounting as a subject. First, accounting is not about complicated mathematical calculations and computations. The minimum requirement for the study of accounting is merely the knowledge of the four fundamental mathematical operations. Second, accounting is more than technical and mechanistic procedures and processes. Although this way of teaching accounting is logical in teaching accountants, it often times hinder learning as far as non-accountants are concerned. The teaching of accounting to non-accountants should focus on the fact that accounting is the language of business. The emphasis should be placed on the training of business managers and leaders. The goal is to make the student a critical and rational manager and not accountants. Accounting should be used as a management discipline that encourages critical analysis, effective communication and rational decision-making. Accounting is a service activity. It uses words and symbols to communicate financial information useful for decision-making. Accounting is used for proper decision-making and policymaking. The business manager does not need to have a very technical grasp of the concept of debit and credit. What he or she should have is the understanding of how to interpret and translate these accounting principles to decisions in business. Financial and critical analysis should be given more importance since accounting is an important tool to make proper findings and conclusion to a given business problem. The use of actual business scenarios would aid in teaching how a manager should react in a specific situation and how he or she should interpret the given accounting data. Financial information is needed before any economic decision is made. Financial accounting information focuses on actual events. Accounting for business managers should be taught in a way that would give the business managers a clear grasp on how to decide using the numeric tools at hand. The interpretation of financial statements and documents is vital in every aspect of business. The ultimate objective of accounting is to provide information in reports, which can be used by internal and external decision makers.