PRESENTATION 1 - SHIFT OF THE DEMAND CURVE

This is a mini class presentation of what we have learnt throughout the day. We are divided into groups of 4 and given the topic where the quantity of demand is affected by certain factor. We need to choose one of the factor and discuss about it and explain how it affects the demand curve by writing out the important points on a mahjong paper to present in class.

PRESENTATION 2 - SHIFT OF SUPPLY CURVE

After the lecture given, we are required to form a group consisting of four members and present what we have learnt about a specific topic. A few situation is given to us to discuss about how those situations affect the shift of supply curve. As a group, we discussed and listed out the important points as well as drawing the graph showing how the supply curve is affected in a mahjong paper. Then, we have to present the information briefly to the class to show our understanding of the topic.

ASSIGNMENT - A TALE OF 2 BUSINESSES

A Comparative Analysis of 2 Businesses of Similar Industry in Different Geographical Locations

Basically, this assignment will focus on comparative research by interviewing two businesses. In this assignment, we have to form a group of 5 members and select 2 businesses of the same industry in different geographical locations for comparison purpose. First, we had our discussion on which industry of business to choose for our research and then contact both shop owners to make appointment ahead of the interview. We came up with a conclusion to choose a more interesting industry which is wedding industry in the SS/2 area. Besides, we are required to prepare suitable questions for out interview. Moreover, we also required to compile those information in a report of 2000 words based on our chosen industry after the interview and research is done.

This is the photo taken with the owner of Micasa Bridal Studio that we have interviewed.

This is the photo taken with the owner of Bridal Concept.

The report of comparative analysis of 2 businesses of the same industry.

 Upon completing this assignment, i have learnt to locate, extract, synthesize and utilize the information we have gathered effectively. For example, this report requires comparison of two business. Therefore, we have to utilize the information we have gathered from published materials and interview.

I have learnt how to communicate appropriately in various settings and modes. As we need to interview both bridal shops, we need to communicate with the shop owners in an appropriate way to ask for the permission of interview and make an appointment before hand.

As this is a group assignment, I have improved my interpersonal skills. I understand more about team dynamics and the importance of completing the work given in harmony. Communication and cooperation is very important in completing a group work.

Reflection

There are many important lessons that I have learnt from Principle of Economics. This module is very new for me as I have never taken this subject in my high school. I have learnt that managing an economy is almost the same as managing a household where both involve making decisions which involve the managing of scarce resources, also known as limited resources. Economics is divided into two which are Microeconomics and Macroeconomics.

My favorite topic from this module is Price Theory. This topic is very easy for me to understand as it is very simple and only involves logical thinking. The quantity of supply or demand is affected by the price of product. For example, when the other factor is involved, then the quantity of demand will be affected by shifting to the left or right. I also learnt that how the price affects the decision of buyers as well as the suppliers and sellers throughout the business.

The least topic that I like the most is the theory of firm production and cost. This topic involves the law of diminishing returns. It also involves the costs in short runs and long runs. I find that this topic is very boring for me and also confusing. Therefore, for me, this topic makes me feel reluctant and less interested to know more about the principles involve in firm production and cost.

In a nutshell, before this I thought I would not be able to cope with it and always thought that this subject is a hard one. However, after taking this module in this foundation, I feel that this subject is quite interesting. It has much in common in managing a household and it only involves common sense and logical facts. I feel that taken this subject can also help me in the future as this is a very general and lifelong knowledge for us that we can carry with us through our life and apply in our daily life. I am also grateful to have such an interesting lecturer where he explained things in a funny and clear way for us to learn more easily about this subject.

CLASS ACTIVITY

In this class presentation, we need to choose one of the users of accounting information such as managers, creditors, employees, customers, government and many more. My group and I have chosen the topic of government and wrote out the information of this user on a mahjong paper and then present the information we have collected in front of the class.

TUTORIAL EXERCISES AND ANSWERS

In every Accounting classes, we are given exercises to do after the short lecture. Practice makes Perfect. In order to pass the Accounting exam with flying colours, practices and exercises should be done frequently no matter in class or at home. These are the tutorial exercises and answers from the 3 topics of my choice.

Balance Sheet & Ledger Recording

Trial Balance 

Cash Flow Statement

ASSIGNMENT - Financial Analysis Ratio

Throughout this assignment, in a group of 3, we have to select a public company (domestic or international) as our research subject. We must also make sure that the company that we have chosen is engaged in trading physical goods, not services. Moreover, we need to provide a brief background history of the company and its recent development and also conduct ratio analysis on the business annual report for the last 2 years and interpret the results. Besides, we also need to provide P/E ratio and recommendations for this report.

This is the report of Financial Ratio Analysis of Yamaha Corporation

I have learnt that in order to make your work interesting, thinking critically and creatively is needed. Moreover, I have also learnt to use effective solutions for each and every problems that occur upon completing the assignment.

I have also improved my interpersonal skills as this is a group assignment. Appropriate communication is very important during the discussion of group work to avoid any arguments or dissatisfaction. Teamwork and commitment is also very important in order to create a good group work.

Reflection

         Upon this Basic Accounting module, I have learnt a lot of important lessons. Accounting is a tool used by businesses to communicate with their stakeholders like customers and suppliers. It records the transaction of a firm which is known as bookkeeping. Moreover, it is also the information needed to be report to assist in decision making of the business and also evaluating business performances.

         Out of all the topics that I have learnt, the topic I like the most is Balance Sheet which is one of the financial reports. This Balance Sheet consists of three main things which are Assets, Liabilities and Owner’s Equity. It shows the financial position of a business at the end of the day. I like this topic the most because we only need to understand and determine the position of the three main things in this report.

          The least favorite topic of mine from this module is the Financial Ratios. This topic involves on how we should read and interpret the accounting reports to make relevant decision. I find this topic very difficult for me to understand and memorize as it is very confusing. I always run out of the track whenever we are doing this exercises on this topic.

           As I was a science stream student, I had never tried before in any subject regarding Accounting. Therefore, I feel that this was a new challenge for me. At first, it was hard and confusing for me as it is a very new subject for me. However, throughout this module, I find it challenging and has gained a lot of knowledge about accounting. I also learnt how to read basic Accounting reports and I feel this is an advantage for me as I wanted to take Quantity Surveyor as my career that this might help me in the future. Furthermore, the lecturer had also make a lot of effort to make the class interesting to avoid us from being reluctant to learn about this subject. Much appreciate to the effort and guidance by our lecturer.

Assignment 1 - Presentation

BRIEF DESCRIPTION

We have to form our group which consists of four members and do presentation slides for this presentation. The topic given to us is Area and Volume. We are required to produce presentation slides and present the information we have gathered in class. We have chosen the topic of pyramid and pyramidal frustum.

REFLECTION

As this is a presentation assignment, I have learnt how to communicate appropriately in various settings and modes. 

Upon completing this assignment, i understand more about team dynamics that cooperation and communication is very important as this is a group work.