My reflections towards Basic Accounting
First of all, all I wanted to say was throughout the whole semester 2 of learning Basic Accouting, what I knew was accounts are very stiff and it is not flexible in any way, every single detail are fixed. To me, taking Basic Accouting class is just another retake subject as I have taken this subject too in high school, the only difference is the language used. My favorite topic among all would be the Profit & Loss statement. Because I like to determine whether a certain business will be achieving a loss or a profit by accumulating all the revenues and expenses and do a calculation to find out the outcome. It is fun to know how much a business has contributed on the business and how much on their expenses too.
The assignment that we did was: Accounting Report
Objective of this assignment
Basically this is a group assignment where our aim is to analyze this worldwide company's accounting report, and also to evaluate their business performance. After that, we are to provide reasons to whether the company is suitable for investing.
Firstly, I have teamed up with Ian See Tze Onn to conduct this assignment. Both of us have came to an agreement to select this company for our assignment because Dell is a worldwide known company. The first step of doing this assignment was to do a little research on the company's background, where it all started from. After that, we went through several websites to search for their Profit & Loss statement and the Balance Sheet. We divided our duties to complete this work. My part was to work on the ratio calculation and interpretation of their business. At the meantime, we have encountered a problem due to the insufficient details given from their company's accounting report. But we still managed to pull it through. Besides that, we gave reasons and suggestions on why Dell company is a considerable business to invest on. Finally, both of us compiled our work into a report. This was a good opportunity to catch a glimpse on how a major company runs their business, acknowledge on the profit earned annually and the expenses used.
An example of what we did:
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