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Reflective Learning Journal Assignment For Conceptual Framework Application In Accounting

Reflective Learning Journal


The purpose of this reflective learning journal is to record and analyse your experiences of learning business accounting as both a process and a product. In your journal you will need to document your thoughts and provide information about what you are learning, how you are learning and your reflections on what you have learned about business accounting concepts and principles. You also need to demonstrate your understanding of the Australian Conceptual Framework for accounting standard setting and the implementation of accounting standard in business practices. Assessment criteria: The reflective learning journal will be assessed based on the following criteria: You need to demonstrate critical engagement with the subject matter including (but not limited to): Progressively build up a list of definitions, equations, formulas etc. that need to be memorised and be aware of which will be helpful when recording day-to-day business operations. You can provide explanations of accounting concepts in your own words. You can prepare a summary of the knowledge and skills you are developing from topic to topic. Your summary should demonstrate a degree of synthesis and integration rather than being just a list of points. You should demonstrate active engagement in learning experiences and activities undertaken, demonstrating the application of accounting principles to practice and/or reinforcement of technical skills. Evidence of self-evaluation through progressive assessment tasks (such as practice quiz, weekly exercises or other exercises) completed, how you could have improved your results in quizzes, and in the weekly exercises, and how you plan to make best use of feedback provided for future practices. You can make meaningful reflections on the progressive learning experiences, showing how the results of your reflection on learning in earlier topics improved your learning in later topics. Self-evaluations can be a critical part of your learning journey. It is designed to give you the opportunity to reflect and comment on the way you approach assessments, such as quizzes and other tasks. You thoughts and comments should be integrated and should be expressed clearly and concisely. Content: You should focus on one week’s learning materials introduced in weeks 2-6. Please note: don’t try to cover every topic. You can choose to reflect on one particular topic that you are interested, such as cash management. The topics covering in the reflective learning journal may include, but should not be limited to double entry accounting, accounting equation, accounting cycle, adjusted trial balance, the use of special journals or subsidiary ledgers, sales and purchases transactions, perpetual and periodic inventory system, inventory costing methods, inventory valuation, internal control, cash management and budgeting, receivables and doubtful debts management.

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