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 ACC6010 Xero Accounting Pod Assignment

Task Brief:

Prepare individual self-reflection writing and individual Team Evaluation Form 

Students must prepare a self-reflection summary and team evaluation form individually.

Self-reflection: Reflect critically on what you have learnt from the assignment, including your contribution to the team. In 300 words or less, describe what technical skills and knowledge you have developed through this project, as well as what and how you have contributed to your team.   

Explanation

Self-Reflection

It was a wonderful experience working on Xero to complete the assignment. As a part of the Xero assignment, I was required to individually record a number of transactions using Xero and print financial reports. First, I had no idea of how it worked and was very nervous and worried about how I will complete the individual part correctly. I was worried that I cannot attempt the task well and if my incorrect financial reports get selected for the group task, it will impact the score of the group report as well. But one of my friends told me to watch support videos if I get stuck in Xero somewhere and read lecture material to pass correct journal entries. I follow his instructions and was able to learn and perform well. Xero is such a wonderful software and it is very easy to pass journal entries using the software and the reports like balance sheet, profit and loss statement, and summary of aged receivable and payables were generated automatically. Thus, the first part of the assignment was full of learning.

The second part of the assignment was related to the preparation of the group report. It was also a good experience working in a group. We mutually discussed so many things relating to financial reports and their preparation. It helped me enhance my communication and active-listening skills and openness. Further, in the 3rd part of the assignment, a group analysis of the financial statements was required to be done and we needed to prepare a group report based on the same. I learned the practical application of the financial ratio analysis chapter and how the ratios are interpreted. It embraced my analytical and problem-solving skills. Overall, the assignment was really helpful for me as I learned how to work on Xero, prepare financial reports, work in a group, and perform financial ratio analysis.

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