Dr. S Balaji Naik conducted this session on the sixth day of MOM for the PGDM 2023 batch. The purpose of this activity is to familiarise students with important concepts in accounting and finance, assisting them in understanding the material and recognising its relevance in both academic and practical contexts. Understanding how firms function and manage their resources requires a thorough understanding of accounts and finance. It comprises a number of ideas and terminologies that are crucial for precise financial analysis and decision-making.
A list of terms pertaining to accounting and finance was given to the students. Within the given word search problem, they had to locate and highlight each term. Students will locate each term and then give a detailed definition of it along with an explanation of what it means. This phase encourages students to explore the meaning of the phrase in greater depth and comprehend its conceptual foundations. After receiving the definition, students will debate the significance of each word in the field of accounts and finance. In addition, they will examine how these concepts relate to and apply to their daily lives, focusing particular emphasis on the usefulness of financial literacy.
Through this activity, students were able to become familiar with key accounting and financial terms that serve as the foundation of their subject knowledge. Students will have a better understanding of the ideas underlying every term by being given an explanation of its meaning and definition, which will improve their understanding of the subject. Students will make connections between theoretical ideas and practical situations through the crucial debates. This will enable people to appreciate the usefulness of financial knowledge in managing their own finances, selecting wise investments, and comprehending business processes.
The main purpose of this activity was to introduce students to terms connected to accounting and finance in a fun and interactive way. Students' knowledge of accounts and finance increased as a result of being encouraged to investigate and comprehend the meaning of each term. They also got a stronger understanding of the value of financial literacy in both theoretical and practical contexts. This session provided students with crucial abilities for their future endeavours and acted as the groundwork for an in-depth understanding of the subject.
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