Tuesday 22 October 2013

Introduction to Manangement Accounting (Reflective Journal)



You are required to report your learning experience in the process of attempting this assignment.



When you walk into a room filled with new and lost faces that you will soon have to be familiar with, and there is this one person you know that is hard to deal with, and that is Management Accounting. This module introduces about the subject and unlike a jelly, this is hard both inside and outside. Just a few more weeks before finals will be lurking around the corner and Management Accounting is definitely one of my liabilities to score high this semester. On the bright side, I have a very experienced and intelligence tutor, Mr James Lu, and also some friends who are good at this subject to guide me and assist me in the difficulties and uncertainties.


At first, it was extremely daunting when Mr James Lu told us that the Management Accounting assignment was an individual assignment rather than a group work. Thus, I performed tons of research weeks ago before the due date because I wanted the assignment to be perfect.  To my dismay, the research was unable to provide me with a clearer picture to the solution of the assignment.  The difficulty in separating mixed cost is the hardest among all explanation as because this topic was covered yet in neither lecture nor tutorials. After brainstorming with my fellow friends, the calculation part was attemptable. We referred to the tutorial solution and library books to calculate the total and product cost. After trial and error, we managed to find some solutions for the calculation part. The most interesting part is the pros and cons for the options as it requires me to think out of the box, no fixed answers. After analyzing, I manage to come out with some splendid suggestions for all the explanation. This assignment costs me a lot of blood, sweat and tear and I was confident with my answers.


Besides that, it allowed me to experience the use of Management Accounting within an organization and the true importance of it. Not just that, this assignment will be accomplished only with proper teamwork, attitude and patience. This assignment holds a huge weightage and we have to support each other’s back or this weight will eventually push us down. Since high school Accounting has been the one subject I have always favored. Hopefully, with more practice and determination I can ace this module with flying colors.