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Relevance of Accounting for Management Professionals in Corporate Employability

Introduction:

The Finance Forum, Department of finance, ITM Business School had conducted an Expert Series on 5 September 2020 on the Relevance of  'Accounting for Management Professionals in Corporate Employability' and the guest was Mr.Bonajit Patonary, an Alumnus of ITM Business School, One of the best student of his time, who was awarded by the 'Best Student of the college' he participated in various activities be it academic or co-curricular, currently he is working in 3i Infotech (ICICI Bank) as a business analyst.

 

Experience at 3i Infotech:  

Mr. Bonajit explained that the area he has been focusing on is the middle east, particularly Dubai his work there involves communication with the client and the technical department bridging the gap between them. He explained that the accounting standards there are the same as we have in India just the language changes but there is great skill required for accounting, he explained as Dubai is a city in an Islamic country there is no interest charged on the amount and if anyone defaults on the payment the amount changes with it.

Experience at ITM:

He was actively involved in various activities from academics to co-curricular. He was a Class representative of his batch for 2 years and actively co-ordinated between placement cell and his fellow classmates for their well-being. Coming for non-commerce background he did face some difficulties but tried harder to learn and aced all his exams in each and every semester. Not only this but also, he worked on a research paper with the guidance of Prof. Uma Ghosh on the topic 'Digital payments without internet' the app used NFC or sound waves for the transaction. He did an internship in H&R Block were his experience was not good at first and he wanted to leave the company but the guidance of his faculties helped him to stay in the company where he started to flourish.

Importance of Accounting in Corporates: 

Accounting plays a crucial role in the field of finance as explained by Mr. Bonajit people in corporate expect that you have learned accounting during your MBA and the work allotted to you will be completed without any questions. Accounts and Excel will be implemented together, good knowledge of both of them is required.

Importance of Accounting in Interview:

Mr. Patonary explained how accounts as a topic have so much relevance in the real world the application of it is really important, he told us about his interview experience which he had practiced with the help of a mock interview from an alumnus of ITM working in HDFC bank,3i InfoTech. He attended 8-9 interviews before getting selected to 3i InfoTech. He told us to focus on key areas of accounting such as Golden Rules, ratios, Final Accounts, cash flow statements, Company valuations.

 

Conclusion:

Accounting plays as a role of missing piece in a board game, the importance of it in the corporate world is absolute, Our guest gave us a key point to achievement you should have clear concepts, Basic knowledge of the subject, always be a part of all the activities which help to build confidence and teach new skills, keep practicing, be disciplined and be attentive, have faith on your teachers, and keep the focus on your goal grab the first opportunity you get.

 

Acknowledgement:

Finance Forum 2019-21 would like to acknowledge all the guest resources for making this session insightful. Special acknowledgement to all the key people from ITM Business School for conducting such an absorbing event. Extension of gratitude to CA Prof. Geetanjali Pinto, Area Coordinator – Finance Department,Prof. Uma Ghosh, Assistant Professor, Dr. Rajashree Yalgi, Assistant Professor, and entire Seniors Batch students of Finance for extending unmatched support & co-operation, without which this event would not have been possible, Photographer Akansha Ajit Sawant, Anchors Aditi Chakradeo, Devashish Chouhan, Kirti Raichandani and content writers Satyadeep Wadhwa, Anuja Priti.