Accounting, Learning, Online Communication Reflection - Semester 1

This assignment is a reflective piece by a student on their learning experience in an accounting course, focusing on the intersection of accounting principles, online communication, and learning methodologies. The student begins by expressing their interest in accountancy and how the course has helped them understand fundamental business principles. The reflection covers the impact of online communication on global business, highlighting the advantages of cloud accounting software and the disadvantages of online communication such as writing skills or information overload. The student discusses their understanding of accounting software like MYOB, Xero, and SAP, and the evolution of online communication through smartphones. Furthermore, the student reflects on the concept of learning, differentiating between understanding and retaining knowledge, emphasizing the importance of conceptualization. The assignment also explores financial concepts like double-entry accounting and the formula of equity. The student concludes by expressing increased confidence in the subject matter and their ability to apply the concepts learned.

Running head: ACCOUNTING, LEARNING AND ONLINE COMMUNICATION
Accounting, Learning and Online Communication
Name of the Student:
Name of the University:
Author Note

Running head: ACCOUNTING, LEARNING AND ONLINE COMMUNICATION
Step 1: Introduction and Chapter One Reflection
These kinds of assignments are very interesting to execute. Reflections always lead to
introspections and understanding, by questioning myself in regards to what I have learnt from the
provided study. I have been fond of accountancy since a very long time. This particular subject
has taught me the fundamental principles that are required for being successful in any kind of
business.
The particular paper aims to identify and assess the business and personal
communications that is gradually going online in the regular course of the business proceedings.
The interesting part of this study is that the particular way that online communication is taking
over global business. Moreover, this is bringing the end users of the commodities and services
and the owners of the business closer to each other.
However, the first impression that I had gained while going through the assignment is
that a huge amount of information that has been presented in the introduction and chapter one
was more than enough to understand and retain at once. However, as I proceeded with the
reading I found the piece of literature interesting and easy to understand. The cloud accounting
software packages that have been developed in the modern world are taking over the accounting
business globally. The knowledge in regards to online communication that I have acquired from
this particular chapter has helped me to understand the benefits of online communication and the
ways in which I can implement them in case of a business of my own. Moreover, I came to know
about the disadvantages of online communication.
Initially I used to think that there are no disadvantages to online communication. I
thought that the only reason for business firms not undertaking the online communication for
innovating the accounting and other related business proceedings was that the lack of enough
capital for the implementation of the online processes. However, there are certain disadvantages
to online communication. The people who do not have a knack for writing or have poor
keyboard facilities cannot facilitate online communication. Moreover, certain potential risk like
the risk in relation to information overload is a significant feature of online information.
I understand this problem because I had been confronting similar situation in the past
when I had received a mail in regards to a situational analysis. I did feel that too much

Running head: ACCOUNTING, LEARNING AND ONLINE COMMUNICATION
information had been communicated and there was no one present to help me out with my
confusion. Moreover, I came to know about the famous accounting software like the MYOB,
Xero, Oracle, ERP and SAP.
Moreover, the trends in regards to the online communication can be understood by the
introduction of the smart phones in the market, which led to a global revolution in terms of
connectivity through internet. The fact that an individual with an average income could afford to
get the net connection that would connect him to the entire world.
In other aspects, I came to know that learning is not just about understanding but about
conceptualizing the acquired knowledge and changing as a person in regards to the new
knowledge acquired. I feel that this is true because learning for me until now have been restricted
to the examination papers. As long as I could rightly remember and deliver the acquired
knowledge in the answer sheet, I was satisfied with whatever I had learnt. It is now that I
understand that the worth of learning depends on the retaining of the acquired knowledge and not
just delivery of the same.
The fundamental concepts of finance has also been summarized and explained in this
particular chapter. The particular area that interested me in regards to finance is the significance
of the aspect of double entry accounting. Previously, I used to think it is just a technique which
was adopted for posting the various transactions in the books of accounts. However, I came to
know that the aspect of double entry accounting was just not limited to that. Double entry
accounting is the fundamental foundation of every accounting process and facilitates accurate
financial proceedings.
I have also been fascinated to know that the very core word of accounts that is debit and
credit has been adopted from Latin. This means that the Latin word for debit is ‘debere’ meaning
‘to owe’ and that for credit is ‘credere’ meaning ‘to entrust’.
Moreover, another principle that I have acquired from this particular reading is that the
equity of a firm is equal to the assets of the firm after the total amount of the liabilities have been
deducted from the same. The formula can be expressed as:
Equity = Assets – Liabilities

Running head: ACCOUNTING, LEARNING AND ONLINE COMMUNICATION
Therefore, the study guide had helped me to understand and explore the basics of the
accounting process. moreover,, I have understood the particular difference between learning and
retaining the concept that is being learned. Thus, it can be concluded that I now feel confident for
the future endeavors in regards to this particular subject.