Chapter 1 KCQ's

From the first paragraph of the chapter I quickly realized that it was going to have something to do with computers and their impact on accounting.

I find that the beginning of the study guide is very repetitive in getting the information across to me as a reader.

I found the point where it states ‘about half of the directors of listed companies in Australia and New Zealand have accounting backgrounds of some sort’ extremely interesting and it also shows the importance of accounting in business as a whole.

The information referring to the personal life of the author has interesting and valid points but I found it went off topic before finding these points. I would prefer the story to be shortened and the point (to not just look at the accounting numbers as being some sort of reality themselves but to see we use accounting information to seek to engage with what is really going on in a business.) to be said clearer.

I found that placing the subject of the chapter in Yeppoon was extremely helpful in the learning process because I could easily relate and picture the businesses being spoken about.

Every single one of them (the businesses) would keep accounts, although I had a feeling this would be the case knowing for sure points out how important accounting can be.

The section on ‘Types if businesses’ was very useful to me in the way that the information was interesting and relevant to understand business.

Throughout the entire chapter one the same question was asked in different ways; how can accounting make it easier or more difficult to engage with and understand what is really going on in a firm? This encouraged me to think about the answer and try to use the information to get closer to this.

The history into the keyboard is interesting and understanding the layout has made me look at the layout of the keyboard completely differently. It also made me appreciate computers and the facilities they offer so much more than I di prior to knowing this knowledge.

I found that the introduction for journals and ledgers was useful for me, as I know very limited about accounting and the books they use. Understanding these books and their purposes I feel was something that I needed to know to progress through not only this course but also my entire degree of business. Although the entire section on journals and ledgers does drag on and become very exhausting to read.

The way the author has written the section focused on the accounting equation makes it easy for me to follow, it stays on topic and explains in detail what the equation means.

One of the most important aspects of the study guide chapter 1 was knowing and understanding each of the 5 key elements: assets, liabilities, equity, revenue and expenses.

Overall the Study guide Chapter 1 was a helpful insight into a way to view business that gave information into a lot of the fundamental points in accounting. I found that the text was repetitive even to the point of repeating complete paragraphs, which made it difficult to stay focused, and on track with the topic. I particularly enjoyed the quotes that begin many of the different sections but in comparison I did not find the long historical tangents as enjoyable as they caused me to get bored and therefore found it harder to concentrate on the important information.

Thanks for reading my chapter 1 KCQ's

Georgia