Mary Grace R.

Banal

1. What do you expect from this course?

Financial accounting is a specialized branch of accounting that keeps track of

a company’s financial transactions. During our shs, we already had accounting 1
and 2 that gives a background about financial accounting. It tells us how to make a
financial statements and how the accounting process works. In this year, we will
going to talk about financial accounting and reporting of a partnership and a
corporation. I have a lot expectations regarding this course in this BSA program.

First, I expect that this time, it is more complicated and has a long process
compared to my experience in senior high school. It is differ and harder because it
is not a sole proprietorship at all but more on partnership and a corporation.
Second, I expect to learn clearly all the things about a partnership and a
corporation. I also expect that I will know how they differ from each other and what
are those advantages and disadvantages of having a partnership or a corporation.
I will be able to know what do most people prefer, a partnership or a corporation
or maybe both. Then, I want to know the things you need to consider in doing
financial report of a partnership company or a corporation. Lastly, I expect to learn
how this concepts help me in real life. How can I apply these things in the future
when I am in a business industry.

At the end of this semester, I hope to make these expectations happen. That
all of my questions will be answered. I know that it will not going to happen if I will
not do my part as a student. I should not just depend on my professor but I need
to do my study also. We are not on high school or elementary that the teacher
always feeds us. Yes, we need the help of them but at the same time we need to
help our self. We should work hard if we want to learn even though how hard it is.

2. Why this course is important to you as a student?

Mary Grace R. Banal

Since I have chosen the BSA Program, the course for Financial Accounting
and Reporting actually builds the character in me as it molds me to be a better in
the future.

As we hear the word "accountancy", the very first thing that comes in our
mind is 'transaction', as it is the language of business in the finance industry. In this
course, it develops the students to be wise with regards to the business decisions
they will going to make in the future. It even allows me to have insights and proper
guidelines towards the proper format of financial reporting. One wrong entry will
affect everything and that is the thing we don’t want to happen. Those financial
statements reflect the overall performance of the company. With this set of skills
offered by this course, I will be able to assess the overall performance of a
company, and will have a wider view of perspective in managing the financesSoon
I will be going to read and check financial statements of a company maybe mine or
others and this course will be my reminder whether the report is right or wrong or
whether the company is still in good condition or not. .I also believe that the course
I am taking right now prepares us to be more aware with the flow of money that
can be use to make a better and responsible community.

This course is not just a thing that we need to pass to be able to pass the
college. It is more than a subject because it is already a stepping stone for our future
career pathway. Those concepts is not just a concept to memorize but we must
understand what it implies and how to apply it in real life. We need to take it
seriously because we are the one who will suffer in the future if we just made fun
with it. In overall, what we will going to learn in college should not just remain in
college but what we will learned will stay with us outside the university and within
the industry we will have.