Summer School 3: Accounting and The Last Supper

Planet Money

NPR

Business, News

4.6 • 30.5K Ratings

🗓️ 26 July 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Usually, the first class that an MBA student takes is accounting. That involves, yes, equations and counting widgets...but it's more than that. Inside the simple act of accounting is a revolutionary way of thinking not just about a business, but about the world. A universe where all the forces are in balance. Accounting gives you a sixth sense–one that can help you determine whether your business will survive or fail.

In this class, you'll learn the basics of accounting, and uncover its origins. We'll introduce you to the man who helped it spread around the world. He was a monk, a magician, and possibly the boyfriend of Leonardo da Vinci.

Is accounting... sexy?

Yes. Yes it is.

Find all episodes of Planet Money Summer School here.

This series is hosted by Robert Smith, and produced by Max Freedman. Our project manager is Julia Carney. This episode was edited by Sally Helm and engineered by Robert Rodriguez. The show is fact-checked by Sierra Juarez. Planet Money's executive producer is Alex Goldmark.

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Transcript

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0:00.0	This is Planet Money from NPR.
0:05.0	Welcome back to Planet Money Summer School, MBA edition.
0:17.0	Today I should point out our business schools Latin motto.
0:20.0	It's carved over the archway here on campus, Cine Mathematica,
0:25.0	which means there will be no math and promise.
0:28.0	Even though today's episode is about accounting.
0:33.0	No, no, don't turn us off. Give us a chance to make our pitch.
0:36.0	Accounting is usually the first class that an MBA student takes.
0:40.0	They come in with dreams of becoming billionaires, and then there they are.
0:44.0	Sitting in a lecture hall, counting widgets.
0:47.0	Or figuring out whether their inventory should be last in first out, or first in first out.
0:53.0	Ah, the life of Fife of Conundrum is a struggle.
0:57.0	But, insight in the accounting class is a revolutionary way of thinking.
1:01.0	Not just about a business, but about the world.
1:04.0	A universe where all the forces are in balance.
1:07.0	Good and evil.
1:09.0	Yin and Yang.
1:11.0	Assets and liabilities.
1:13.0	It's a beautiful thing.
1:15.0	A view that I know is shared by our professor for today's class.
1:18.0	Emil Shahada is a professor of accounting at NYU Stern School of Business.
1:23.0	Welcome.
	...

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