Its only really rough, I've only done my KCQ's and my restating!
Assignment Stage 2 (ASS#2): Restated Financial
Statements
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CQUniversity
Martin
Turner
ACCT11059
– Using Accounting for Decision Making
Zoe
De-Witt (S0271932)
Due
11th May 2015
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Step 1
Summary
of Chapter 4 KCQs
I loved the opening quotes for the chapter,
they’re really good to reflect on, not only in viewing financial statements,
but for life in general, the only way to move forward is to learn from mistakes
in the past. I just right now want to jump to the part about the kinder
surprise. I actually found this absolutely hilarious - have some chocolate, now go run off that
chocolate! Thanks for the life lesson Martin! I normally find these reading
really boring, but when you throw stuff in there like that, it kind of makes it
worthwhile! Financial is the chocolate – operating is the toy!
Moving on, the main key concept I learnt
from this was how to restate financial documents. It was really hard to wrap my
head around at first but once I got the gist of it, I could see how it related
to the business I work for and how they could use that sort of restating to see
what the operating costs of the café are and how the financial costs come into
the picture, especially when they will probably need to do finance with the
banks to cover the refurbishments.
Oh another chocoholic remark – “growing
outwards”, oh my gosh I’m dying this is so funny!
The next key concepts I need to remember
are these equations in 4.4 Profitability and efficiency. I find these kind of
confusing to be honest. I think that’s because of all the abbreviations, its
all a bit confronting and I’m finding myself reading over these continuously
just trying to take it in.
I’m really struggling trying to understand
all these calculations and ratios. I
realise that this is what our next assignment is on, so I’m really going to
have to wrap my head around it otherwise I may struggle with the next
assignment.
I know this is really short, but I think
with this chapter I really need to focus on understanding those last key
ratios. I already used in practice the key concept of restating, I struggled to
begin with but like with the ratios I will get it eventually once I put it into
practice. I think also because there weren’t as many stories towards the end of
this chapter, I struggled to click onto what you were discussing. I find the
stories really help play a vital part in learning what you are discussing.
Step 2
Restated
Financial Statements
Please find attached my restated financial
statements along with my brief commentary.
https://docs.google.com/spreadsheets/d/15d9pr9iB6BjJ2Lh48xkIA1PsEAFJLtpq35ugnCAXI08/edit?usp=sharing
Step 3
Products
and Services
Step 4
Student
Feedback
Hi Zoe,
ReplyDeleteI think your off to a great start on your Assignment 2.
Your KC & Q's regarding Chapter 4 is easy to read and I even had a little laugh.... I too made reference to the Kinder Surprise! haha
I think you have grasped the concepts of Chapter 4 well, however there is not a lot of personal reflection or personal experiences given.
Thats just my opinion though.
Otherwise its a great read, I really enjoyed it.
As far as I can tell your spreadsheet is fine. Everything looks to balance. I'm sorry I cant offer much feedback here, I'm just not confident I know what is right or wrong at this point in time.
Good luck with the rest of the assignment.....
Tash
Thanks a lot trash for the feedback! I really appreciate it :)
DeleteHey Zoe
ReplyDeleteWell done with your KCQ's, seems like we have a bit in common with the abbreviations in Chapter 4! Haha! If you have more time, you may be able to jot down some more key concepts you noticed during Chapter 4, but apart from that you seem like you are on the right track :)
Sorry but I am not confident enough with my knowledge to provide feedback on the rest of the assessment.
When you find a spare moment, if you could please provide some feedback on my KCQ's that would be great! :)
Good luck with the assignment :)
Cheers,
Kyara
Hi Zoe
ReplyDeleteI'm from group 40 so I though I'd leave some feedback for you. Your chapter 4 summary sounds ok but it seems a bit short. I know you said you tended to gloss over it a bit because it sounded boring, but if you go back and read it again you might come up with some questions to go with your KC's.
Your spreadsheet looks great all set out and everything adds up right. Can I ask how you got it onto your blog? I copied and pasted mine but the columns don't line up. i did notice you've missed half of the brackets in a couple of lines - G88 and H89. I would love to read the rest when you get it up.
Hi Zoe,
ReplyDeleteI thought your KCQs were really good but to improve it you should include more life experiences through it. Show that you can relate the information back to any experiences you may have had in this area before or how you are going to remember this.
Hopefully this helps :)
Good luck with the rest of the assignment.
Lara