Chapter 1 wikiblogs http://moodle.cqu.edu.au/mod/wiki/comments.php?pageid=1401
Accounting
to me (before reading chapter 1) has always been just a way to check if a
company was economically viable (is it making money?) and accounting was a
way of keeping a record of this.
However after reading this chapter it opened
my eyes to the way I view accounting and business and how there is more to
those numbers on the than first meets the eye.
This
chapter hits home the fact that accounting isnt just numbers on a page (or
screen these days) it is a systematic organisating of the business realities.
Giving us a summary of the business in number form.
All in
all I liked how the chapter talked in a way that was easilly understood and
it gave a really good base knowledge for accounting that I'm positive I'll
need later in life.
What
did you think about the chapter? What did you get most out of it?
|
What it might have been like if computers weren't invented ;)
Chapter 3 wikiblogs http://moodle.cqu.edu.au/mod/wiki/comments.php?pageid=1478
Chapter 3 was all new ground for me, I hadn't really come across financial
statements before and didnt really know what they were. It was kind of like a
fish trying to learn to walk on land. I had no idea what financial statements
really looked like at all....I was "meeting them for the first time"
as Martin says, and I decided I really need to get to know them!
I really enjoyed learning the background to accounting, who came up with
what and when. I have just grown up with it all and not paid much attention, it
was interesting to note a lot of these concepts were only developed a centre
ago!
Financial statements to me do seem like a whole lots of educated guessing,
so if you’re an investor, you’d be hoping the firm was trust worthy and that
they will give you the correct information that is relevant and truthful about
how the firm is traveling.
All in all, I really enjoyed this chapter, it had a lot of information which
I believe I can really benefit from.
One a side note, my favourite quote in the chapter was “Price is what you
pay. Value is what you get.” Warren Buffet. So simple and so true!
