from the cast of AC & AD
Neoh Joe Eng
Sam Jing Wen
Chong Shu Xin
Md.Nur Hakim Bin Muzani
Lim Jin Wang
Koh Poh Guek
our guidance our teachers
MRS IVY LIM
MS WENDY WONG
credits for skin
Layout: hasta mañana
Icons: defying affection
Lyrics: Funny Little World
Others: colour codes
Another week begins. Ms Lim briefed us on the sharing of newspaper article.
We were told on how do we share the article and what to share with the class.
This coming thursday would be the start of the sharing by the first 5 friends.
After which, we were given some questions which we had to search from the
ACRA website. The quiz was given to us and we had to do the quiz without refering
to any materials. this was really testing whether we understand and remembered what
was taught in class the week before.
After the quiz, we went to sit with our groups so that we can register our business.
We gained some experiences when we start to register our business. All of us were so
Before we left the centre, we marked our friend's quiz and counted their marks.
Monday - 21/06/2010
Today marks the beginning of our second stopover-accounting services centre(ASC).
Twenty of us were informed by the teachers to meet at B202 at 8.30 am.
Some of us could not find the room, which we eventually did after a long search.
Today was the second day of our attachment.
The smaller groups had to discuss on their roles in this attachment.
For example, presenters were given scripts to get ready to give a
presentation for guests that would be visiting us this Thursday.
We went out to choose our lockers to reset our password and
then we had to give the admin team our locker number.
We were also asked by the admin team for our email address
and our telephone number.
Ms Lee then informed us that there was going to be some
overseas exchange programme for students. This was a rare
opportunity for us to go to universities of other countries and
study there for a semester. Ms Lee then assured us that we
can apply for the financial assistance scheme and not to worry
about the cost of travelling there as we would only need to
pay for our daily expenses there.
The second half of the shift was the start of lessons introduction.
All of us listened attentively as there would be a short quiz after
every lesson. We were glad that there were short breaks in between
so that we can go to the washroom and take a break after the lesson.
Lesson ended soon and we had learnt a lot more from Ms Lee’s life experiences as an accountant.
Wednesday - 23/06/2010
Don't all of you think at Ms Lee has a superb memory? She was able to remember all our names within a short stint of 2 lessons with the class. I am sure most of us are impressed as it usually takes most teachers a few days to really remember all of our names. Furthermore, she did not pause and think for a moment for any person's names.
At the start of the day, the media team told us to dress a tad bit nicer on Thursday as there would be photo taking for our blog.
Moving on, Ms Ivy Lee taught us about the usage of MA (Memorandum)and AA (Articles of association). This is to give us some insights on some of the required documents when starting a business. After that, there was a break of 45 minutes.
Next we were divided into groups of 4. There were a total of 5 groups. Each group was assigned to either general partnership, limited partnership or limited liabilities partnership. Ms Ivy Lee then gave us the rest of the time to sit with our group members.
Firstly, all the teams came up with a group name and theme. For the teams who had discussed on their desired theme and name, they used whatever remaining time there was to search for rental locations, license etc (Stated in the project guidelines)
This concludes the end of our third day. Though it may be short but we all had an enjoyable day.
Through projects, it brings friends who were once strangers, closer to each other as we began to know each other better through the numerous discussion.
I am sure each and every one of you had made at least one new friend during the past few days at ASC right?
Thursday - 24/06/2010
Ms Fadlina taught us on Transaction Cycles & Internal Controls on Thrusday. After much explanation about the feasibility of our project plan, all groups gathered together to brainstorm and set the scene of the product that they are selling in their company. For example, they had to identified a target group of customers, decided on selling prices, location, size of store, rental fees, marketing strategy. etc. For some groups, they had to change their project plan as they realised that they might face difficulty if they were to proceed on. After much discussion, the teams came up with a PowerPoint on the general outline of their project. Next , we gathered back together again to construct our business process. Then, the 5 teams went up to present. Here are some pictures of our teams and their presentation.
After lunch, our class went for "The Dining Etiquette and Appreciation" conducted by Ms Jowena. It was an interesting and delightful session. All of us laughed at the many jokes that Ms Jowena shared with us with her past experiences of fine dining.We had learnt many valuable concepts. For example, b and d. Thus, we would know that our drink glasses are on the right and not left, the correct way to drink soup and the type of cutlery for different purposes etc.
Ms Fadlina taught us about the importance of having good internal controls while setting up a business. Nobody can have multiple roles, the roles should be segregated. E.g. Partner A has custody of the stocks. Partner B keeps records of accounts and Partner authorize of the transaction. Thus, the teams implemented internal controls into their purchase and sales cycle.
With that, we concluded our day.