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ACCT XXXXXXXXXXS3 Reflective Learning Journal Reflection is an important process for learning. It will allow you to engage with the material taught and to figure out what this means to you now and...

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ACCT XXXXXXXXXXS3 Reflective Learning Journal
Reflection is an important process for learning. It will allow you to engage with the material
taught and to figure out what this means to you now and what it might mean in the future.
Here are some commonly used definitions of reflection:
“Reflection is an important human activity in which people recapture their experience, think
about it, mull over & evaluate it. It is this working with experience that is important in learning.”
(Boud et al. 1985, p. 43)
“Reflection is a deliberate and conscientious process that employs a person’s cognitive,
emotional and somatic capacities to mindfully contemplate on past, present or future (intended
or planned) actions in order to learn, better understand and potentially improve future actions.”
(Harvey, Coulson & McMaugh, 2016, p.9).
In your Reflective Journal, every week (from week 2 to 6) you should write about your learning
for this unit. Reflecting is more than just writing down “WHAT” was taught or “WHAT” you learnt.
It’s about analysing what you have learnt from different perspectives, what does this mean to
you. Are there concepts you found particularly challenging and Why? What can you do to become
more comfortable with the challenging concepts? Are there concepts that you feel you will apply
in your workplace or in further learning?
Reflective Learning Journal Brief:
The aim of this reflective learning journal is to record and analyse your learning experience in
this unit. In your journal you will need to document your thoughts and provide information
egarding what you are learning, how you are learning and your reflections on what you have
learned regarding accounting concepts and principles.

You must complete the following:
Reflective Learning Journal
Word limit 1,100 words
Weighting 30%
Due date 23 January XXXXXXXXXX:00 pm AEDT) (Turnitin submission)

Specific Instructions
 Word limit should be within the range of 10% either side of the limit.
 Referencing: If there are any references used, they should follow Harvard Referencing
Style.
 Before you submit, make sure you have followed the rules of Academic Integrity
(available on Blackboard) to ensure you are submitting your own work.
 Submission of Reflective Learning Journal:
o Please submit your reflective learning journal online through the link for Turnitin
assignment submission provided on the Blackboard site.
o You must use the electronic Assignment Cover Sheet provided, fill in details and
then make this sheet the first page of your assignment. Do not send it as a
separate document.
o The file name should include (in order) your surname, first name and your
student number. For example ‘Smith, D XXXXXXXXXX'.
o Your assignment needs to be submitted as a Word document (type .docx) or pdf
file.


Assessment Criteria:
The expectations/assessment criteria for your Reflective Learning Journal include the following:
1. You need to demonstrate critical engagement with the subject matter throughout weeks
2 – 6 (Topics 2-5) including (but not limited to):
 Building up an accounting glossary or list of terms used in this unit and providing
explanations of accounting concepts in your own words.
 Accumulating a list of definitions, equations, formulas etc. that need to be memorised
and being aware of which will be helpful when recording day-to-day business
operations.
 Preparing a summary of the knowledge and skills you are developing from topic to
topic, demonstrating a degree of synthesis and integration rather than being just a list
of points.
 Showing evidence of learning activities undertaken, demonstrating the application of
accounting principles to practice and/or reinforcement of technical skills.
2. You should demonstrate active engagement in your learning experiences. This can include
- self-evaluation of progressive assessment tasks completed, how you feel you could have
improved your results in quizzes, and in the self-test questions, and how you plan to make
est use of feedback provided for future practices.
3. You can make meaningful reflections on your progressive learning experience, showing
how the results of your reflection on learning in earlier topics improved your learning in
later topics. Self-evaluation allows you the opportunity to reflect and comment on the
way you approach assessments, such as quizzes and is a critical part of your learning
journey.
4. Your thoughts and comments need to be integrated, and should be expressed clearly and
concisely.
Content you should include in the Reflective Learning Journal:
You should cover the content introduced in learning materials of topics 2 – 5 during weeks 2 – 6
of the study period.
The topics that you will cover in your Reflective Learning Journal will include, but should not be
limited to - pricing decisions, operational budgeting, inventory management, cash budgeting
and fraud management and budget variances
You do not need to cover all topics listed above. However, make sure your Reflective Learning
Journal meets the four expectations/assessment criteria listed above.
Helpful thought provoking questions
The following is a list of thought questions that may help you to address the required areas as
you develop your reflective learning journal:
 What am I learning in this unit and why am I learning it?
 How am I learning in this unit and how am I using what I am learning?
 What are my priorities and challenges as a learner in this unit?
 How can I overcome my learning weaknesses and build on my strengths in this unit?
 What different skills you needed for different components of my learning in accounting?
 How can I use the feedback from my assessment tasks to improve my learning?
 How are different parts of my learning connected?
 How is my learning in this topic affected by my learning (or lack of learning) in earlier
topics?
 How well am I achieving my goals in accounting? How can I improve my learning
process?
 How are my attitudes and ideas changing through the learning process?
 What are my strategies for achieving my goals and ambitions, and for overcoming my
identified weaknesses in learning this unit?

2021 S3 Ru
ic.xls - Compatibility Mode
ACC00712 Business Accounting (Tri A, 2010) Second Learning Journal Submission Name: ..........................................................................
Student name
Guide
Outstanding (80% and more) Proficient (60-80%) Basic and/or Incomplete (30-50%) Well Below Expectations (20% and less)
Available
marks
Learning
Journal
Critical engagement
within the subject matte
Relevance of studying content including
concepts, principles and equations chosen;
accuracy of definitions in own words;
accuracy of understanding
All areas of learning content are
accurate, well defined and in own
words
Satisfactory in all areas of
learning. Most are relevant and
most definitions are accurate
with own words
Lacking in some areas but adequate
in other areas. Many areas are
elevant and/or many definitions are
accurate or in own words
Seriously lacking explanation in most
areas. Most areas are i
elevant and/or
most definitions are inaccurate or not
in own words
40
Demonstrate active
engagement in learning
experiences
Evidence of extra works undertaken to
enhance the understanding of relevant
concepts, principles, equations and
formulas etc. chosen; Convincing evidence
provided from activities (including
classroom, textbook, or study guide
activities) or real world experiences
(including work experiences) undertaken
Substantive and appropriate evidence
of activities / experiences undertaken
in relation to learning content
Most relevant evidence of
activities provided which are
convincing in some degree
Insufficient or inconclusive evidence
of activities undertake in relation to
learning content
Little or no convincing evidence of
activities undertaken in relation to
learning content
20
Meaningful reflections
on the progressive
learning experience
Discussion of how feedback from activities
and learning experience will be beneficial to
future learning experience; discussion of
learning strategies;
Appropriate and relevant reflections
of learning content, activities and
learning experience presented. Useful
discussion of learning strategies
provided
Most relevant reflections
provided; some useful
discussions and learning
strategies of learning
experiences provided
Answered 2 days After Jan 25, 2022

Solution

Shubham answered on Jan 26 2022
125 Votes
ACCOUNTING - REFLECTION
Table of Contents
Reflection    3
Pricing Decisions    3
Operational Budgeting and Inventory Management    3
Cash Budgeting and Fraud Management    4
Budget Variances    4
Conclusion    5
Glossary    5
Reflection
Reflections are important for educational purpose as they help to introspect one’s learning and encourage conscious decision making to use the learned information. It helps to generalize the principles, strategies, concepts from their experience gathered in the classroom and draw lessons out of them. Before I move ahead with the process of reflection I would like to thank my professors for making the course interesting and informative. They left no stone unturned to make me understand the difficult concepts with ease and were available at times when I am felt stuck and felt doubtful. They have even helped me to improve my reflective thinking as well.
Pricing Decisions
My understanding regarding pricing and what influences it was limited to demand and supply. Once the professor started teaching the topic, I was amazed about the depth of the concept. It requires research to finalize price of the product and to be competitive in the market. In hospitality, the pricing need to be attractive as it involves various factors, which can ensure maximised profit for instance rooms, food and beverages, other services like spa, gymnasium, laundry etc.
The traditionally applied pricing methods and the newest ones helped me to set comparison between them. It gives a quick idea about what kind of methods are useful in a particular industry. The customer and the manufacturer perspective regarding price is important to understand so that the relationship between demand and supply can be well understood. The pricing of hotel rooms is seasonal based which helps to reap maximum benefits in peak season and manage operating cost in off-season. I feel, while studying this topic, the understanding related to hospitality industry has also contributed in my development. I am confident in finding out the reasons behind a particular value of a product and its demand in near future.
Operational Budgeting and Inventory Management
My knowledge about budget was limited to budgets prepared by my parents on monthly basis. I never knew this little knowledge could be elaborated into a topic, which is of importance for an organization to enhance their managerial capacities. At a bigger scale budget has so much to offer from control measures to motivation, from increasing performance to creating goals, which are attainable to negotiations inside the organization. It helps to plan resources and reduce wastage on unrequired activities.
Inventory Management was quite exciting as I wondered how Amazon and other e-commerce companies managed stocks and delivered to their customers. How food products are stocked...
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