Basic Accounting

Basic Accounting is to provide the student a solid foundational knowledge in Accounting. Students will learn the principals of accounting, able to prepare and understand the financial reports, analysis the financial status of a company and so on.

Thinking and Problem solving skill

Discipline specific knowledge

Lifelong learning

Among the topics, my favorite topics are P&L statement and Balance Sheet. I like these topics very much because I feel that they are challenging and easy. As to prepare the P&L statement and Balance Sheet need to look at the business transactions or ledgers. Sometimes the business transactions might be slightly complicated like prepaid revenue, accrued expense, depreciation expense and so on. However, after I do more practices, it become very easy. When the answer at last become balance or correct, I will feel satisfy. On the other hand, I dislike the topic of legal ownership. I do not like this topic because it are more on theory, it require us to memories. I feel bored for it as it just about memorizing the information. Except the calculation and preparation of financial report like P&L Statement, Balance Sheet and Cash Flow Statement, at the first lecture, I learn the importance of Accounting. It can be proof by the class work. When doing the assignment, I learn new things and practice the Thinking and Problem Solving Skills. Although I learn how to interpret and understand the financial report during lectures, but while looking the real financial report for a company, I feel confuse as it is slightly difference with the financial report that we use to do exercise. However, by the lecturer's tutor and using the thinking and problem solving skills, at last, I able to complete this assignment. Next, I also learn how to calculate P/E ratio and analysis whether the company is suitable to invest or not. These all are the new knowledge that I had never be taught before. All the things that I learn from doing this assignment and during the lectures can be apply at the daily life. For instance, the accounting knowledge can be used to manage the pocket money that I have.

Class Work

This Class Work is explain who are the owner in a business and the importance of  financial report to the owners.
http://www.youtube.com/watch?v=OlcziTCBW8w

Tutorials Works

During the tutorials, we practice a lot. Here are some tutorials questions and answers.

Balance Day Adjustment Exercise 4's Question and Answer.

Trial Balance Exercise Question and Answer 

Cash Flow Statement Exercise Question and Answer

Assignment

The assignment of Basic Accounting is Financial Ratio Analysis. We are required to do the ratio analysis for a public company in the period of 2012 - 2013 and provide the investment recommendation. The public company that I choose is Toyota Motor Cooperation.

The Financial Ratio Analysis Report of Toyota Motor Cooperation in the period of 2012 - 2013

    

Charity Drive Event

During the Charity Drive Event, I apply some knowledge of basic accounting into it. First, is to apply the bookkeeping process into this project. As we need to do accounting for the project to used for discharging accountability which means to ensure each of us carry out our jobs in a honest way. Therefore, we need to do bookkeeping which is recording all the business transactions and last form a Profit & Loss Statement. Next, I also apply the technique of prepare a Profit & Loss Statement in this project.

Receipts of expense of the event

 

The Receipts Books

P&L Statement for the Charity Drive Event