ACCT11081 Financial Accounting blog post only

It’s me again (Maddie for those of you who do not know me), yet again embarking on my accounting journey. I had actually enrolled into this unit over term 3, 2017 but decided to withdraw from this unit before the census date as it was so overwhelming. I am also planning my wedding this time around so have cut back to just one unit this time round. Wedding date is 21st July 2018 at St Aubins Rockhampton so that keeps me busy planning that and still working full time at a local floorcoverings business.

So, I started reading the chapters for this unit and found it rather easy to understand the theory as I data enter all these transactions (invoicing, credits, bank reconciliations). I use ledgers and subsidiary ledgers which is accounts receivable. Basically, We will have the total amount of money that customers owe us which is called the ledger account then we need to know which customers owe us what amount which is known as subsidiary ledgers. It makes it a bit easier to understand by actually doing. I am sure some of you are totally confused at this point, but let me confirm for you that it does get easier when you DO the work and not learn about it. For me, I am a practical hands on learner and I am grateful that I had had the opportunity to be working over the last 10 years to learn these ‘skills’ and then going back to do the theory as I would struggle to learn the other way around. I had tried this before and stopped studying simply because I didn’t understand it. SO bascially what I am trying to say is to anyone struggling a bit, just keep going. It will all click into place one day and you will ‘get it’. I feel like I am only ‘GETTING IT’ now. after trying for 10 years so embark on my accounting degree. Turns out I just needed to go work for a little while to understand HOW people do these things. I probably have a different point of view too to studying to that first year uni student fresh out of high school who do not have that prior experience in the working industry.

We all start somewhere, just keep going! I am very excited to be doing this unit and am READY!

Take care,

Maddie Xx

 

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