Quantic: The Accounting Module

I have recently completed the Accounting module which is the EMBA’s first module so in this post I will share some thoughts about my learning experience. In past posts, I gave a general overview about the EMBA but now that I have taken and completed a course, I can share more concrete details which I hope readers find helpful.

What does the Accounting module cover?

As the module’s name suggests, the course covers general accounting concepts such as ledgers, credits and debits, key financial statements, ratios and some aspects of managerial accounting. The unit also covers some non-accounting concepts such as general explanations of financial instruments such as stocks and bonds. It is quite a lot of material to cover over five weeks, especially if you are new to these concepts. I did a management degree for my undergraduate studies and these are concepts you would normally cover in 1-2 semesters.

What did I learn and how difficult was it?

Since I have been working in the financial industry and have completed financial qualifications which have some form of accounting in their curriculum, the material was not new to me so please take my opinion with a pinch of salt. For someone who has already had exposure to most of the concepts, the course is not hard and I think there should be plenty of time for students to grasp and internalise the learning outcomes without rushing their learning too much. The obvious challenge for Quantic when putting together this course must have been to condense the materials so that a wide range of students from different backgrounds can grasp the bare minimum in this field and I believe that they did a decent job. If I were asked to put together a similar course, I probably would have picked the same concepts. It is worth noting that students are not being taught to become accountants but to be able to have a sufficient grasp of financial statements so that as managers (hopefully) they can interact with more specialised stakeholders and read and interpret financial statements (as you would at any generic MBA course).

Some key concepts which are covered, without spoiling too much of the fun are the balance sheet, income statement, cash flow statement, stocks, bonds, managerial accounting, ledgers, debit credits, financial ratios, Du Point Analysis.

During my previous studies, I did not have much exposure to various ledger accounts but after finishing this course, I felt that I managed to gain a solid understanding of how various entries are booked in T accounts and how they flow in financial statements; something which in my opinion is very practical and useful to know. I also enjoyed the group work assignment which I will address in its dedicated section.

Learning Style, Office Hours and Case Studies

Most of the learning is done via the app and the format is the same as what you will have encountered when taking the free business foundations course. You will have some interesting stories to follow, have some concepts explained and then several interactive questions to test your learning. Although Quantic claims to provide an innovative learning style, I must admit that I am still trying to get used to this kind of teaching. Yes, I agree that having these constant concept checkers might be a good idea in helping retain some knowledge relating to the topic but I still get the impression that some of the learning might be a bit too shallow without sufficient background information; I am still not 100% sold on this learning style being a full replacement for more traditional teaching styles but this is just my opinion at the start of the course on a topic that I already knew fairly well so I am keen on testing this learning style on less familiar topics.

In addition to the self-paced learning via the app, Quantic also provides office hours. I attended a generic Q&A session where the teacher also gave a general overview of key accounting concepts. I found the session very helpful and the lecturer was very knowledgeable and thorough in his explanations.

There was also an optional case study that covered a major accounting scandal; the session was very interesting and it was good getting to discuss accounting concepts with other students and see how these come into play in practice.

 

How are students assessed?

As I am writing this post, the below weightings are applied, however having looked at Quantic’s documents for past cohorts I saw that they vary slightly so if you are enrolled, I strongly recommend checking the course catalogue or their FAQ doc to make sure that you are focusing your preparation on the areas which bear the highest weightings.

  • The Smart Cases 10%
  • The Open Book Exam 60%
  • The Project/Group work 30%

The Smart Cases 10%:

You will have to complete these when going through the material. These are end of chapter quizzes that are there to test your knowledge of the concepts that you just learned. You can take them as many times as you want so I doubt that any student would be losing any marks here. They are also a good way to practise for the Open Book Exam which accounts for most of your marks.

The Open Book Exam 60%

The exam is like a big Smart Case and the format is the same; a mix of multiple-choice questions, filling in answers, matching answers, etc. You can only take the exam once you have completed the Smart cases and during a designated period at the end of the module. Once you start the exam, you need to complete it within the next 48 hours. Quantic says that the exam should take an hour so students do have more than enough time to triple check their answers.

The Project/Group work 30%

This is what I enjoyed the most. We were allowed to form groups of max 3 students so I had the opportunity to form a group with two more students with who I connected with via LinkedIn and Slack. The assignment required us to read a case study, pick up key transactions and create financial statements. The group members that I had the pleasure of teaming up with were very hardworking and committed to the course and I thought that we managed to submit a decent piece of work. The only disappointing thing so far has been the marking time. A month has passed since we submitted our assignment however we have not yet had any feedback; given the strict requirements regarding the page count and the relatively narrow scope of the project, I would have expected a quicker turnaround.

Conclusion

This pretty much concludes my commentary regarding the accounting module. Although I am still getting to grips with the teaching format, the networking aspect of the course has been extremely valuable for me. During the various case studies and events, I had the pleasure of meeting students from all around the world and from different industries. My next module is the Economics module which again I have studied already so I will be assessing it similarly to the Accounting module. I hope you enjoyed reading this post and if you have any questions regarding this programme please let me know. Wishing you all the best with your study and career goals.

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1 Response to Quantic: The Accounting Module

  1. Daniela Z says:

    Thank for these blog posts. I recently got accepted in the Quantic MBA program and I’m having a hard time deciding if should I take this opportunity. I don’t want to spend that amount of money in a program that I’m not sure is worth it.
    I see very good reviews on LinkedIn but on the otherside I see some bad reviews on reddit forums.
    I’ve found your posts really helpful and giving me insights of the program. I hope to make my decision these next couple of days.

    Liked by 1 person

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