Trying to stay ahead

I got my first assignment back and got 93% on it. Not bad but not exactly what I was hoping for. I've always been a bit of a perfectionist, especially when it comes to math. I feel that the is there and I should be able to figure it out.

This instructor seems way better than my last one. When he gave me back my assignment, he had explained why I was wrong on certain questions and was very fair in his grading. My previous one I had to fight with every time to get an explanation or a correction. I feel like I actually learned from this assignment.

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I needed a financial calculator for an upcoming module so I spent a couple weeks reading reviews and bought the Texas Instruments BA II Plus. Seems like a good one so far but I really hope I get some more explanation on how to use it because there are an awful lot of buttons and the exercises don't go into any detail of how to use it. It comes with a 450 page manual but now that I look at it, it also includes the French, Spanish, and Portugese translations so really it's only 115 or so in the English section.

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I also did my first graded submission for my Business Law course. A quiz on the Canadian legal system and contract law. This course is more interesting than I thought and it's really making me think of businesses in a different way. Now I have an assignment to do which is a case study of a man who was offered a high-paying job and then he and his family went out and made several extravagant purchases, only to find out the offer was withdrawn. I have to decide how to interpret each of the situations and figure out who is owed what at the end of the day. Looks like fun.

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I am going on vacation at the end of June and am heading across the country to the city where I am planning to move next year. I found a really good-looking accounting firm in the city that appears to be a great place to work. I sent the owner an email to see if I can stop by for coffee and a chat while I'm in town next month. Hopefully this will be the start of a relationship that could either lead to me working there or finding another place he recommends.

However, since I am going to be away for nearly two weeks, I'm trying to stay ahead on my courses. In the Law course, once I finish that case study assignment, I'm all caught up until I get back but in the Accounting course, I'm only about 3 days ahead of where I'd like to be if I was working straight through. I need to make up about another week this week so I'm not behind when I get back.

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This was a fairly disjointed post but it's been a long time and I really wanted to get something down. I hope to update with how the calculator is working out and how far ahead I got.

Accounting Theory

So, my online courses are open and I'm ready to go. I've put together the course schedule and mapped out when all my modules and assignments and quizzes are due and it looks like it will be a busy summer. And I'll be taking off about 2 weeks in July too so I need to get moving so I'm not behind when I get back.

Today I'm working on review of GAAP--what a coincidence. So, all the Principles I learned last semester are being broken down into Assumptions, Principles, and Constraints. This actually may make it easier to remember.

And there is a discussion thread I need to participate in for 2.5% of my grade. But I don't even understand the question. I'll post it here and try to work it out. Maybe my next post will be my submission to the thread.

We explored various methods of valuing inventory, such as FIFO, LIFO, weighted average and specific identification. In considering the advantages and disadvantages of these methods, one of the advantages of the FIFO method is that ending inventory on the balance sheet most closely approximates its replacement value. If that is seen to be an advantage, then why do we not restate all values on the balance sheet at replacement cost?

Discuss the implications mindful of the qualitative characteristics of the conceptual framework.

One of the reasons I was drawn to CGA and accounting was because of the finite specifics of numbers. I don't really like discussing theory and business jargon. The questions with a real answer (like $1,450,231.75) I have no problem with. I actually aced every math question in my final course, it's the written paragraphs that are going to get me.

Starting a New Career

I have worked in many different industries over the past 20 years. I have done customer service and sales. I have worked at a mill and a warehouse. I have done tech support, management, and choir leading. But, while I have had various levels of success and have been able to support my family, nothing ever seemed like my career.

This past summer, I was given an opportunity to make a change. Due to some unique circumstances, my bills will be significantly lowered in 2011, so I have the chance to figure out what I really want to do with my life. I will get into my history and how this is all working out later but to make a long story short, I decided to give accounting a try.

I have just completed my first course in Financial Accounting and I love it. I did it as an online distance education program and ended up with an A+ for the course. My goal is to enroll in the CGA program in the fall of 2011 and the courses I am taking are transferable so if I do well, I can jump in at a more advanced placement and hopefully find a good job sooner.

I have enrolled in two more courses for the summer. One is the continuation of the financial accounting class and the other is a business law class. I got my textbooks this week and the courses open June 1 so I can do a little reading ahead and prepare myself.

So, I see myself at the start of this new chapter in my life. At the edge of the gap. Let's see how it turns out.