W12 Day 58 of Nana's Internship
Activity
- Continued working on the audit schedule, focusing on the expense section.
- Calculated the total income of a company to assess whether the client's earnings were sufficient to cover the increase in expenses.
Key Learning
- Improved understanding of how to break down and analyze expense categories when preparing audit schedules.
- Learned to compare income and expenses to evaluate a client’s financial position and sustainability.
- Strengthened ability to read and interpret financial performance from accounting data.
Reflection
Today,
I focused on continuing the audit schedule, particularly working on the expense
section. It was more detailed than I expected because I had to go through every
expense one by one, categorize them properly, and ensure they matched the
supporting documents. This required a lot of attention and patience. I also had
to calculate the total income of a company to evaluate whether the client’s
income was enough to cover the increase in expenses. This was interesting
because it gave me a broader view of how financial decisions and changes in
spending can affect a company’s position.
At
first, I was unsure how to approach the analysis, but after comparing the
figures and discussing with Ms. Chan, I started to better understand how to
assess financial health. It made me realize that accounting is not only about
entering data—it also involves critical thinking and interpretation. This task
pushed me to think beyond the numbers and helped me see how they reflect the
real-world situation of a business. It was a good learning experience and gave
me more confidence to handle analytical tasks in the future.
