It used to be a standing joke among many business students: “Why should I learn accounting; I can always hire someone to handle that for me!” Currently, higher education, inside and outside the realms of business schools, is in the throes of a love affair with entrepreneurship, and we are again hearing that old saw from the students. However, if it was a faulty argument years ago for marketing and finance students, it is doubly-wrong for entrepreneurship students. Entrepreneurs need accounting knowledge and understanding more than any other non-accounting major.

This article is from the Accounting Instructors’ Report, an electronic journal that provides teaching tips and insights to those who teach accounting and other business courses.

Contributor: John W. McKinley, JD, LLM, CPA, CGMA, Cornell University and Ithaca College.

 

Read Entrepreneurs Need Accounting Too: The Case for Including Financial and Managerial Accounting in an Entrepreneurship Curriculum.