Assignment Stage One (Step 1)
Aimee Seri
It’s
3pm on a Saturday afternoon and I’m sitting here a little worried and anxious
about how my first week of university went. I graduated from high school last
year and immediately threw myself into a whole new entire world of learning.
Although I am worried, I am also excited to embark on this new adventure into
the next stage of my life. I always get asked why I chose to study a Bachelor
of Accounting and a Bachelor of Business and simply my answer is short and
sweet “it’s what I love to do”. This wasn’t always my answer though as numbers
and math just weren’t a strong point for me during high school, therefore i
never thought I’d be able to excel in any field that involved it. However, I
did enjoy my business and accounting subjects at school, so I decided to give
it a good go and I got myself a work experience gig at one of the local
accountancy firms where I come from. This led to me getting a part time job
there and I have never looked back.
I’m
not a very confident person especially when it comes to learning so when this
first task was assigned to us, I was instantly worried. Worried about writing
my KCQ completely wrong. Worried about not being smart enough and most of all
worried about failing this subject. Although my nerves take over me sometimes
when it comes to learning, I do put 110% into everything I do, and this will be
no different.
Introduction
As
I read though the introduction, I learnt a lot about the course and the
expectations involved. It discussed everything that surrounds this unit and
made it all a lot clearer. It taught me how to develop an understanding of my
own about accounting and the unit, while also highlighting how my skills can
exceed and further grow in the field of accountancy by studying this. I was
still hesitant on a few matters surrounding the course such as PeerWise,
setting up my own personal blog and most importantly learning how to write a
KCQ. Although I’m slowly getting the gist of how to write and structure a KCQ,
the PeerWise and blog still weigh on my mind. I have set up PeerWise but I’m
having difficulty on how to access it again. How do I do this? While I’m also a
little worried about the blog, I feel as though once I set it up and get an
understanding of it, I shall be fine. However, I’m unsure of what to write in
the blog once I get it set up. I really found the tips that were outlined and
given to us in the introduction extremely helpful and I wrote all of them down,
so I don’t forget as I feel like it will assist me in excelling in this unit.
It was also useful to get a brief rundown of Moodle as I’m still getting used
to it. Other than that, I feel quite confident about my understanding of the
rest of the information that was written in the study guide introduction.
Chapter 1
When
reading and critically evaluating chapter 1, it was evident that it really
showcased what accounting is and the reality of it. This was followed by
examples of everyday businesses that process accounts (nearly every business in
the world) which made my eyes open a lot as I didn’t realize how many people
utilize accounting. It also pointed out the main processes and systems used
which allowed me to fully consider the role of accounting and how value you
created in businesses to aid them in succeeding.
As
mentioned previously, the reality of accounting took me by surprise. I knew it
was utilized greatly in businesses, but I never knew the extent it was used
too. It was fascinating to learn that businesses everywhere have accounts and
need accounting work to either be done or supplied to them. After reading about
the reality of it, I came to realise that it makes sense that all businesses
associate with accounting as every business either purchases or sell items or
services to the public therefore creating accounts for the business as either
an asset, liability or equity. I found the examples both written and seen made
me come to the realisation that the accounting field is extremely important to
everyone especially businesses.
As
for the keeping records side of things, my knowledge in this area of accounting
is quite high as I have dealt with journals and ledgers since grade 10, not
only in school but in my workplace. I found that self-explanatory in my eyes as
I have completed many journals and ledgers. Same goes with bookkeeping
information as I am classified as a bookkeeper at work and have dealt with
various systems and clients which I feel has made me understand everything a
little more. I also liked reading about the accounting equations and the five
elements of accounting, mostly because I already knew a lot of information on
them, but it was good to have a refresher.
However,
I was a little confused when reading about proprietorship as I just can’t wrap
my head around it at this very point. I have read through it a few times, but I
think I need more explanation toward the topic. I understand the transactions
side of things, but I don’t understand the underlying duality of transactions
due to proprietorship. This is a topic I will need assistance with but I’m sure
I will understand it as the unit goes forward.
It’s
now Saturday night and I’m feeling better about everything as it seems some of
my stress has disappeared knowing I have completed my first ever KCQ. I can’t
wait to learn more about the subject in general and continue to further my
knowledge around all aspects of accounting. I’m sure as time goes on, I will
start to settle in and really absorb all the information being out in front of
me. I have found that this KCQ has really helped me in understanding and
developing knowledge around the course and I have taken this time to read and
critically evaluate the information given to me.
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