MBA @ Speed of Light

And thus went my first exam ...

Today I had my first mid-term exam - Accounting. Most of the guys here say that accounting is easy but somehow I find it tough. I can understand the concepts when the prof teaches, but if I am asked to create the statements, I am struck. So you can imagine how my exam would have gone.

I was asked to create Income statement, Balance sheet and Cash flow in just one hour. I was thinking it is an impossible task but was proven wrong by people finishing it well ahead of time. Okay what happenned to me ? When I was in the middle of my T-accounts, I accidentally saw my watch and alas! forty minutes had passed away. Obviously, I didn't get some good number for the income and so I went back to correct the T-accounts. After some time, I realized that I changed some correct T-accounts and then started undoing my changes. The invigilator reminded that only ten minutes are remaining. I started building my balance sheet with wrong T-accounts due to lack of time. As expected, it didn't balance and time was up.

And thus went my first exam ...