As I embark on my journey into the subject of accounting, I must admit that I am experiencing a range of emotions about this unit. I feel a mix of excitement and readiness to delve deeper into the accounting field, coupled with nervousness about studying the subject. In addition, there is an unease that not having enough motivation could result in me not completing this unit successfully. I understand that many others probably experience similar concerns and doubts when navigating the complexities of accounting, so I might not be the only one going through this. The fact that this is an introductory accounting course is a positive, nonetheless. It is comforting to know that this is an opportunity to learn the fundamentals rather than an extremely difficult undertaking.
After reading the Introduction and Chapter 1 of the Study Guide, numerous thoughts are running through my head. The prospect of being assigned my own listed company to work on throughout the unit is exciting, and I eagerly anticipated the release of this information to make a start on the assessment for this unit. However, making that start was not as easy as I had expected. I read through the material, highlighted key points, crossed them out again, and continued to second-guess everything I was writing. Since I am presently a Permission to Teach Teacher at a local high school and am studying this unit for my Bachelor of Education (Secondary), I was particularly interested in the idea of learning by doing. We frequently tell our students that the best way to learn is by doing, so I am looking forward to putting this into practice. Since I am an older student and have limited experience with blogging, the notion of blogging as part of the assessment seems a little intimidating to me. However, I am looking forward to the challenge of stepping outside of my comfort zone.
I particularly appreciate Peter Drucker's quote We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn. Recognising education as a continuous process throughout life indicates that there is no end to education. Rather, it is an ongoing process that lasts throughout one's life. Presenting and enhancing a range of learning strategies is part of teaching people how to learn. This may entail having the capacity for critical thought, problem-solving, knowledge synthesis, and flexibility. These strategies end up being helpful tools for people navigating a rapidly evolving information landscape.
The first question in this chapter made me ponder, what exactly is accounting? I started working in "accounting" for a tiny, privately held company thirty years ago after graduating from high school. It was clear through my early interactions with the readings from this unit that I was not practicing accounting at all; I was simply a bookkeeper entering financial data and managing payroll. My first taste of accounting was not until I started working as a property manager in real estate, overseeing trust accounts, a few years later. The analysis of the various business models offered insightful information on the range of organisational configurations that companies can use. The variety of choices, which includes partnerships, firms, trusts, and single proprietors, demonstrates how adaptable the business sector is. The comparison made between business owners and housemates highlights the fact that disagreements and difficulties can occur in any joint venture and highlights the need for explicit agreements and procedures to handle these circumstances.
My comprehension has been expanded by realising that my early experiences with accounting were more related to bookkeeping than proper accounting, as well as by learning about various company models. The comparison between housemates and business owners highlights the commonality of disputes in joint ventures and highlights the necessity of explicit protocols and agreements. I am willing to venture outside of my comfort zone to learn and grow in this course, and I look forward to using my acquired knowledge in both my academic and professional endeavours.
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