As a part of the conspiracy of the rich they do not teach finance at the school / college level. – Robert Kiyosaki
I do not have enough data to agree or disagree with this statement. However I was quite stunned that none of the professional courses – medical, law or engineering teach even basic BUSINESS FINANCE. Many of the doctors and lawyers will surely start their own practice. Should there be no effort to teach them basics of finance – forms of business organisations, basic accounting, basic banking, …
Imagine a lawyer specialising in corporate law – not knowing enough about how a Profit and Loss account is made or how a Balance Sheet is drawn up. Or not knowing that the accounts of a company are made in Schedule 6 format.
These kids are expected to do share valuation, arrive at Mergers and Acquisition ratios, know what is a 51% holding, or a ‘controlling interest’….etc.
I think a basic finance course – business and personal finance – should be there in every syllabus – including the Bcom student, the budding doctor, actor, lawyer, – whatever you do in your life, accounting is the 5th R if not the 4th!!!
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