Assessment 1: Step one

Accounting. What is it? I have been pondering this exact same question for about 2 months now, ever since I chose to change my study plans, from a Bachelor of Sonography to a Bachelor of Accounting. I made this sudden change because of 1. I want to be around for my three children while they are still young, 2. I would have to move myself and my family away from our entire support network and 3. Accounting would allow me to earn a decent wage with the opportunity of career advancement. However, what I didn’t know is how accounting plays a crucial role in all businesses. I assumed I would spend my professional career crunching numbers at a small desk, in an office and be completely miserable. But at least I would get to enjoy my kids, right? Seemed like a worthy sacrifice to me. It seems I was wrong. Martin Turner has piqued my curiosity with his depiction of what else accounting has to offer. The fact that accounting is a foundation in all businesses, some of Australia’s top CEO’s have backgrounds in accounting and that accounting could cultivate the kind of passion Martin has in teaching it.

I have been feeling overwhelmed with the number of steps in each assessment for this unit. Having to start PeerWise, a Moodle bio, a blog and begin writing Key Concepts and Questions all within the first week is a little daunting, especially on top of other units. The help available within the Introduction of the Study Guide is comforting and has stifled some of these feelings. Without them, I may well have left some of the starting steps to a later date, but Martin’s reasoning as to why they are essential has changed my mind. Since completing the Introduction and Chapter 1 in the 2 weeks before term started, I have done all the steps and even begin asking and answering questions on PeerWise.

The in-depth overview of learning has been really thrilling to read, it is shocking considering I thoroughly believed all the reading material in accounting would be dry and unstimulating. I am genuinely excited to learn by doing, I have always loved learning particularly new people, ideas and how things work, everyone has such different views of the world, and it is intriguing to learn about someone else’s. The six categories of learning are a delightful way of defining what it is fundamentally, considering it is such a personal experience for everyone.

Simultaneously, I am nervous about having to interact with others so much, in this unit, I haven’t had a lot of experience connecting with other students online at university. Although, I have spent most of my life around computers using social media, connecting through university will be an entirely new experience. As a parent and a mature student, the part of online communication that I love the most is the ability to sign on and connect at a time that suits me. My time is minimal, and the ability to attend to my study, social and work obligations at a time that suits me is exceptionally beneficial.

The beginning of chapter 1 finds me questioning. Previously I had assumed accounting was simply playing with numbers and tax logistics, now I am becoming more interested in what else may be achievable. The few chapters I have read have been exceptionally well written and engaging. The sections have covered many unexpected aspects; from ‘What is Learning’ to ‘Accounting is a foundation of a business’. It is refreshing to read the chapters as they flow neatly from someone who is clearly passionate about the art of teaching, learning and the inner workings of a business. It is clear from the readings that Martin has been studying and teaching various aspects of accounting and business foundations for quite some time now, making him a true master of his craft. My assumptions were later confirmed as I read about his Ph D thesis on ‘How to support students studying accounting at university to not just look at numbers as being some sort of ‘answer’ or reality themselves but to see why we use accounting information to seek to engage with what is really going on in a business’.

The frequent questions throughout both first chapters have left me pondering and questioning my own thoughts and ideas surrounding accounting, business and even learning. Never would I have thought that introductory accounting would be so philosophical and reflective. One of the critical pieces of information I have taken from this second chapter is that accounting plays a crucial role in business and, it can either add significant value or hinder a company.

While I believe that many companies are created to add or create value in both personal lives and the lives of others. I also think it can be fuelled by monetary gains, even though this would add value to one’s own life, it would be at the expense of others. For example, the current rise in drop-shipping. The creators of these online businesses are selling products that sellers may not know the quality of. Furthermore, the buyer of these products has made a conscious decision to purchase the products, there is an air of inequality to this business model. Primarily when the products are sourced from third world countries, they seldom know where the products originate from, if the resources are reliable and if the manufacturers of the goods are treating workers fairly.

The concept of double-entry accounting is new for me, and the idea of debit and credit is new and confusing. I believe this is because it is something I have not studied before, coupled with the fact that credit is calculated using negative numbers while debit uses positive numbers is quite hard to grasp this early on, even with Martin’s clear explanations and concept mapping. Reading about the history of double-entry accounting is fascinating, and it has helped me to understand how even in its primitive form used centuries ago, it was still a fundamental aspect of a business. The in-depth history of double-entry accounting has allowed me to understand the basics, by understanding how it was first applied, how it has developed over the years and what aspects have remained unchanged even after all this time.

In conclusion, the first to chapters of the study guide have been a journey of learning and discovery. The frequent questions and personal references throughout have helped me to connect with both myself and the author on a personal level. Helping me to memorise and process all the complex concepts and ideas, in the somewhat confusing time that is the start of term. The explanations as to how we learn, what accounting and business are and how as accountants we must understand the concepts involved so that we can help add value to any businesses we may become a part of in the future have been of great benefit to me overall. Lastly, I am looking forward to the rest of the term and beginning to really understand the inner workings of accounting.