I haven’t had the best of times approaching the assessment deadline and I am probably going to submit late, however I will submit it.
Due to illness and other family issues, I haven’t been on the facebook group page or attended at of the PASS sessions with Danielle and I have missed two lectures. When I have attended the lectures, I believe I engaged with other students and Martin. This has been my sole interaction with others. I’m not satisfied with this outcome but sometimes life does get in the way.
Anyway, enough grumbling (insert cranky face here). I have finally completed Steps 3 to 5 and I am looking at doing feeback for other students if they will let me.
I found this assessment enjoyable and interesting. I liked doing the Trial Balance and the Income Statement for my bank account.
I cannot believe how quick Term 2 has gone! To say that it has been a horror four weeks for me is an understatement as I have practically been sick the whole time. (Insert Green Face here)! Plus I dropped a unit which did not help. (Insert sad face here)!
Anyway, I am on the road to recovery and I have finally finished my draft of my company – Greatime International Holdings Limited. Please let me know what you think. Feedback is appreciated. (Insert smiley face here)!
This was me last week! It came like a freight train hurtling towards me and I couldn’t slow it down. The noise in my head was loud because of all the things I had to do. Not only with study but with family commitments. No wonder I have a headache….
Anyhoo, I have attached my Steps 7 and 8 for feedback purposes. I am in the progress of doing Step 9.
Just want to say thanks to everyone involved in ACCT11059, it has been quite a ride!
Good luck to my fellow students and hopefully we will cross paths again on this great journey we have found ourselves on.
Due to family engagements and other subjects, it has been a while since I have posted anything. However, now that we are entering the second half of the term, my goal is to get back on track and improve my time management so that I can finish on a positive note.
I have restated my financials for my company, NetComm Wireless and I am proud to say that as far as I can see, I have balanced!
I hesitated doing this step because I was unsure of what I was supposed to do and I found I was not understanding the ‘O’ and ‘F’ side of things. I spent my time reading and re-reading Chapter 4 before I submitted Step 1 but I still didn’t understand what I was reading. I was at a standstill and I was not moving forward.
I went to the ACCT11059 workshop last Wednesday and I was lucky enough to have a chat with Martin. He advised me to keep it simple and not over think things. So that is what I have attempted to do with my restating and also with Chapter 6.
Maria’s videos were very helpful and easy to follow. Balancing my SOCIE was easy! I couldn’t believe it but balancing my BS was another matter. No matter what I did, I couldn’t balance. My initial thoughts were that I had calculated the 1% cash for financial incorrectly because I had a lot of cash. Martin wrote in Chapter 4, page 11, that if your company has large levels of cash balances, he advised allocating a small amount to operating assets and the balance to financial assets, which is what I did. I checked it out but it balanced as per Maria’s video. I went through Maria’s tips to check the balances and they were correct. So I started the video again and went through each step until I realised that I had to change the mathematical equation because I had NFA instead of NFO. For the BS to balance, I had to change my equation. I found that my financial assets were bigger than my financial obligations, therefore I had to change from NFO to NFA. The equation that Maria used was NFO = FL – FA. I had to change this equation to FA – FL = NFA to suit my company as my company had more FA than FL. Therefore, I had to also change my new fundamental equation from NOA = NFO + Equity to Equity – NFA = NOA. This surprised me as I didn’t think I understood the new equation but when I changed the equation and balanced, I knew I knew something! (laugh out loud is what I did with a big sigh of relief!).
I had read a lot of comments on the group FB page regarding the Restating of the Income Statement. After I read about the problems some people were having, about others helping the ones having problems and others just doing it, I started to doubt myself about whether I could do this. I was afraid of not balancing, getting totally bamboozled and just not understanding what I was doing. I took a deep breath, remembered Martin’s advice to me and started restating my Income Statement. I separated the ‘O’ and ‘F’ without any problems while following Maria’s video to the letter. When it came to working out the tax rate, I was hesitant. What do I know? I’m just a Granny. Then Martin’s words rang in my ears again. This unit is an introduction to accounting, introduction only. Don’t sweat it! So I started Maria’s video again and continued on and it was easy. (Big sigh of relief here!). Everything was going perfectly until the final step of balancing. Of course, I was out and so was Maria. I didn’t feel so bad. I did what Maria did and checked my formulas and found that I neglected to add in the top row. Once I added it in, I balanced! I was one happy little vegemite!
It was a great experience of restating and learning beyond the numbers. I feel a bit more confident and I understand the value of restating and how it can assist managers to look at the realities of their firms. I now understand that the Operating Activities are the daily activities of a company involved with selling their goods and services to customers and buying supplies from their suppliers to keep their products available. These operating activities also generate cash flow and revenue to keep their business alive. Financial activities are undertaken to help achieve a firm’s economic goals and objectives. These financial activities can include borrowing money from financial institutions loans and lines of credit. As Martin says, financial activities are moving money around. Doing the restating and having a chat with Martin was a positive step forward for me as I believe that I have learnt more about ACCT11059 in the last week than I have all term.
Yay me! It is school holidays (insert groan here). All my grandkids are on holidays and are wanting me to take them places because, of course, their parents are still working. They say, “Granny, what are we doing today?” or “Granny, are you taking us somewhere today?”. Love them to the moon and back and how can I resist their little cherub faces being cute and all smiles…..after all they are my babies and I enjoy spending time with them. They keep me young! Lol.
So, this week has been a mix of study, babysitting and catching up on chores as well as sleep. Am I procrastinating? Yes, most likely but at least I am aware of it. I know there are plenty of things I can catch up on during these holidays, however I have put some of them aside to catch up on my study and with Easter coming up, I believe it will be an opportune time to get up to date and start week 6 on a positive note.
Easter will be a quiet time for myself and Mum because our family will be doing their own thing. Good Friday will be about eating prawns and fish as well as studying. I am going to see John Farnham on Saturday night and can’t wait! During the rest of the Easter break I will be working on being up to date with my study and I am looking forward to it. Does that make me sound crazy or weird? Ah, who cares! I am looking forward to some quiet time to do my study without interruption. This is my goal and I will be on track for Week 6.
I believe, Easter is a good time for reflection. Sit back and reflect on the start of the year and if it is where you want to be with your goals. Four months into 2019 already. Time is fleeting, and who would have thought that I would be at CQU, studying full-time at my age? Not me, that’s for sure, but here I am, doing it for the oldies and myself of course!
I appreciate how lucky I am to have been accepted into CQU. I am learning so many things. How to be disciplined, time management skills and I’m enjoying every moment, even the challenges. I am studying to achieve a goal that has been with me for many, many years. Also, to show my grandchildren that they can be anything they want and that it is not too late to study or achieve their goals.
Anyway, I would like to wish everyone a very Happy Easter, safe travels and I look forward to the next chapter in our uni life!
Well to say that Week 4 was intense was an understatement. Even though I was feeling much better I was still not 100% and struggling to keep up with my subjects.
My biggest goals for the week were to complete Ass#1 for Accounting11059 and see an ENT specialist about my tonsils. I achieved both. (Happy face must be inserted here).
I’m booked in to have a tonsillectomy soon and I am hoping that having this done will help get my health back on track because it has been off track since August 2017. However, that is another story for another time.
So, Ass#1. Wow what can I say? It challenged me, made me step outside my comfort zone and had me thinking on a different level. For me, writing or putting pen to paper is the easiest part for me. I had my reflections, comments and KCQ’s on my company done as well as the chapters from the reading guide. Did I think this was easy to do? No way. Researching, reading and creating my KCQ’s on my company was difficult, but I did enjoy doing it. Does that even make sense? I had this all done before I even attempted to enter the financials into the spreadsheet. For some reason I was afraid to attempt it. Why? I don’t know, maybe fear of failure or not understanding. The time came when I couldn’t put it off any longer so I set up my iPad to watch Maria’s video and I entered the data into the spreadsheet without too many problems. I don’t know what I was worrying me but it was easier than I thought.
Next was Studiosity. I found this resource a great advantage and it helped me to check my grammar, spelling and missing words. You know what it is like, sometimes your brain is going too fast for the fingers that are typing so little words like the, is, but and that are missed. I have a History assessment due soon and I will be using Studiosity for that.
Because I was sick, my interaction with other people had been limited. I tried to make up for that by asking people if they needed Peer Feedback Forms completed. I knew there would be other people out there in accounting land that would be scrambling to finish their assessment and would need help. I had decided that I would sit at my computer until I had completed my assessment and do Peer Feedback Forms for others who were in the same boat. I ended up submitting my assessment in the early hours of Monday morning and then went to bed, exhausted. I had done it! I enjoyed assisting other students, whether my feedback helped them, I don’t know but I would happily do it again.
I can’t express how appreciative of Danielle Bradley I am and her assistance and understanding during our Pass Sessions. Danielle has helped to understand more about KCQ’s and then yesterday afternoon, after I completed about 6 feedback forms, she explained to me the reason that they need to be completed and to view other students work with a critical eye and give them feedback using critical thinking. From then on my feedback forms had more information on them and even though I’m new to this, like everyone else, I need more practice and enjoy giving feedback more than receiving. Why? I think you learn more.
I was happy with my result for my first assessment and I want to continue the theme of doing well, assisting others and interacting more.
Anyway, that is it for me this week. Oh, one more thing. Paul Feasy has pointed out in his blog that Ass#2 will be harder and it is imperative to start working on it now. Paul typed a guide on what is required and when it is required. A very useful tool, so thank you Paul and check out his blog for more information on the guide.
Good luck everyone and have a super duper peppermint kind of week!
Week 3 started like Week 2 ended. Me being still sick….Missing lectures, laid up in bed and feeling sore and sorry for myself just doesn’t cut it. Insert cranky face here.
I struggled with all my subjects again trying to keep on top but I am still behind. Insert sad face here.
However, I am feeling much better (insert happy face here) and have discovered a new brand of tea called Peppermint! It has probably been around a long but I have only started drinking it and I love it. Mum bought it for herself but she doesn’t like it so a win for me. Yay! I find it settles my stomach when I am nervous and worried so I’ll be drinking it a lot more.
Ok well there is not much more I can say about Week 3 because I was mostly in bed….lol.
To say that my second week of uni was ordinary is being kind…..my mum had a fall which she is still recovering from, I have been laid up for the past five days with tonsillitis and counting and what was the other one, oh yeah – I AM BEHIND IN ALL MY SUBJECTS!! Insert scream face here.
I made it to Martin’s lecture last Wednesday which I found interesting and very interactive which is great but I still struggled with the KCQ’s and I didn’t want to do anything with my company until I had a working knowledge and understanding of what KCQ’s were.
There were a couple of positives to my second week of blues besides lying in bed and suffering which were the ALC Workshop with Michelle Broad on a Thursday afternoon and of course the PASS Zoom session with Danielle Bradley on Sunday afternoon. I also was able to have a chat with Mark from counselling about a couple of issues I have which helped greatly. I can’t say enough about how helpful everyone has been at CQU and I intend to use all the facilities afforded to us as students.
In the ALC Workshop we learnt how to ‘unpack’ a question for an assessment. Michelle broke it down for us step by step and now I am confident that I can step forward into the unknown world of academic essay writing for uni and have a good crack at it. Also, with Danielle, she helped us discover step by step the understanding of KCQ’s! I couldn’t believe how easy it was and I feel more confident now.
I’m happy week two is over, however after visiting my doctor again yesterday, he advised me to stay at home and rest…..insert loud laughter here! Because of this, I won’t be at Martin’s lecture tomorrow which I am disappointed in as I really enjoy his lectures, banter and questions. I will watch it via my lap top.
Now my focus is to get back on track for all my subjects by being organised with time management which includes rest and a good balanced diet.
I look forward to being back at CQU and attending my lectures in week four as well as being healthy.
That’s it for now…..keep an eye out for my draft of information on my company being posted on my blog in the near future.
I went to Orientation yesterday at CQU Rockhampton and had a great day! I felt very comfortable, welcomed and it felt just right. All my fears of not fitting in because of my age and not understanding or being lonely all went out the window as soon as I stepped out of my car. Do you know why? Because there were other people there just like me!
From the moment I entered the sports complex and sat down, I felt right at home and I wasn’t on my own. I met two other ladies, one older and one younger at the door and we spent the day together. We listened, talked, laughed and roamed the stalls for information and advice as well as freebies.
For someone like me who had no idea what Orientation was all about, I am very happy I went. I feel lucky and appreciative that I am able to be part of CQU. This has been a dream of mine for a number of years to attend university and to actually be there is surreal. I am enjoying the moment because I know that the hard work will bring me down to earth with a big thud!
I hope everyone enjoyed their Orientation as much as I did and I look forward to reading your blogs…..
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Learning Beyond the Numbers 