ASS#1 Step 1

ACCT11059 - Assessment 1 - Step 1

My blog link: Home | My Site 5 (diemquynhtran1.wixsite.com)

KCQ 1: What do you think accounting is?

Accountant is the title of the person in charge of recording, collecting, analyzing and processing financial information, economic transactions and tax issues in a company. Accounting work is closely related to documents, books and numbers. To do this job requires you to always be meticulous and accurate in everything. Accountants understand almost everything related to businesses. Where is that property? How much is left? How has it increased or decreased over time? And more importantly, thanks to accounting methods and ways to calculate business profits and losses, accountants will actually give answers to the problem of asset use and cost and activity management. Is the business effective or not?

Previously, I only knew accounting as taking on the task of recording, receiving, processing and providing information reflecting the financial performance of an organization, business, etc. But after I read Chapter 1, I learned that accounting in business has many different perspectives. It's more interesting than I thought!!I was completely surprised because study guide 1 provided full information and specific examples about accounting in business, which helped me expand my knowledge of world accounting and give me more questions.

KCQ 2: In business, each individual can give their ideas and opinions. Because each person has different expertise, experience and working style. Therefore, everyone wants to protect their ideas, which can cause some conflicts. But in the end, people still want to bring good value to the business. So, is there any solution to solve this problem?

Firstly, actively listen to the ideas of colleagues and support the talents of others. Moreover, it requires self-discipline and emphasizes individual responsibility, collaborative relationships, and open communication. Conflicts must be resolved when they arise. In the same way staff should calmly listen to members' perspectives and find out why the conflict is occurring. Resolving conflicts in groups needs to come from knowing how to listen to find the differences between people. Thereby, the common goal in the group work process will be promoted and conflict factors will be limited. People should also learn to listen to and acknowledge the opinions of group members to create cooperative relationships and effective communication. To avoid conflicts, everyone should bring down their personal ego for the common goal by listen and understanding each other. Sometimes deciding who is right and wrong is not as important as keeping the peace and bringing the greatest benefits to the group.

KCQ 3: How do I feel after studying and reading the chapters?

I am very happy, when reading and learning about foreign accounting like that, it helps me expand my understanding and knowledge. Moreover, the teachers are very enthusiastic, friendly and support us not only in studying but also in necessary soft skills in business accounting. However, after reading Study Guide 1, I think I need to try to improve soft skills such as reading, searching for information, etc. Because it has a lot of useful and interesting information that will help, I apply accounting theory into practice to make sure I really understand the material.

Finally, this was the first time I learned about the history of the typewriter by Christopher Sholes, and it was linked by author Richard Levy to some of the terms we use in computer word processing and double-entry accounting. I think this is a great idea and I feel sad why I didn't know about it sooner.