When the CFO of Christopher Newport University discusses with me the cost of switching from a cash-based accounting method to an accrual method, I know she's referring to the large write-off associated with booking expenses and income when they are incurred as opposed to when money changes hands. I understand that this one-time expense occurs because we'd have to book a bunch of expenses in the current year that normally don't get booked until the next year. And I know this because I learned in business school what the terms mean as well as the implications of each approach. My knowledge of different accounting methods allows me to be an active participant in business conversations. The CFO doesn't have to explain things to me. Even better, I don't have to nod my head as if I understand what the CFO is saying, only to Google the terms later. More importantly, I can use the business function's own terminology to explain to my business colleagues the impact of technology. Using a language with which they are comfortable makes it easier for me to explain technical details to them and to get their support.

Finally, the MBA experience will change the language you use in conversation with business people. Before I got my MBA I'd enter a conversation by asking, "How can we solve this problem with technology?" Now I start by saying, "How does it make sense to solve this problem?" because technology isn't the solution to every problem.

5. An MBA better prepares you to solve business problems.
We're in the process of implementing credit card processing on campus at Christopher Newport University. When we are discussing the impact credit card processing will have on the general ledger and the reconciliation process, I'm not lost. Because I studied accounting in business school, I can assist with technical and process automation solutions because I know what the university is trying to accomplish, what can be automated, and what needs to be reviewed and audited. Thus, I've made meaningful contributions to this project.

6. You'll learn how to read and interpret business statements.
The MBA curriculum teaches you to understand and interpret financial statements, marketing plans, market analyses, audit reports and business development plans. Knowing how to read a financial statement is important when, for example, you are evaluating a vendor's financial health. Knowing how to interpret marketing plans and market analyses will help you identify a vendor's strengths and overall strategies to see if the vendor can or will continue to be able to meet your needs. It's also helpful when trying to understand your own organization's operating environment: The better you understand the way your company is moving, the better able you'll be to position the IT department in front as opposed to being dragged along behind. Being in front, on the leading edge of change, is more fun and will make the IT department much more valuable to the company.