What I struggled with last semester

The month long holiday has reached an end and I will be resuming semester two next Monday. The holiday has certainly given me time to reflect on the past semester and what contributed to what has been my least impressive semester yet (not a record I ever intend on beating). This is something I've been avoiding for some time now but it's time to be honest and face it. As I suspected, I failed a subject. The frustrating thing was that the final exam was fair and I could have passed it if I had focused on the right topics. With the limited time I had to study for this exam due to the way my exams were scheduled, I wasn't able to revise every topic. Therefore I had to prioritise certain topics over others. In the past, I've found that trying to cram every topic results in shallow, surface learning and worse, it also confused me about the topics that I already knew. This resulted in neglecting entire topics even, as I was convinced that other topics would be tested instead. However, to my surprise on the day of my exam, topics that I had put extra time into were not in the exam while others that I had not put so much time into were. Of course, I tried my best to answer all I could, but it just wasn't enough.

Another struggle I had during the semester was time management. Although I am not the best with time management, I've never had any major dramas. However this semester was particularly challenging. I applied for several internships and was lucky enough to make it through several stages (but didn't make it through the end). The application process was intense, having several stages and I spent a large bulk of my Easter holiday going through the process. While I was lucky to have been able to get through to the online testing and interview stages, they popped up at inconvenient times (before class tests). I poured a lot of time into these processes by conducting further research and trying many practice ability tests. I lost a fair bit of free time and study time and this affected my marks.
I also lost about a week (not including meetings throughout the semester) from participating in the CIMA GBC. I am so grateful that my friends asked me to be part of their team because I gained so much from the experience but looking back, I could have managed my time so much better. The competition happened to be before revision week (the week before exam period) which was not optimal. (I'm just glad that I was able to get my voice back and recover from the flu in time for the competition.)

Alternating weekly class tests didn't help me either as I would neglect some subjects to study for the test, then neglect that subject to study for the upcoming test. So time was not on my side this time.

I'm going to stop there with the reasons because I don't want this post to sound like a big whinge. My point is that while the semester was chaotic with tasks that seemed to pop out of nowhere, I still could have been more prepared. Blaming the situation is something I generally try to avoid because once you start pointing the blame and adopting the 'victim mentality' you become 'reactive' and not 'proactive' and lose control of a situation. Instead, I thought I'd share some lessons that I learnt from this semester;

•  Get better at working on multiple projects at once - I really dislike multitasking because I much prefer giving my all on one task at a time and it stresses me out to be honest. But in some cases, it's the only way. I usually like to tackle tasks in the order they are due, like how I spent time on the CIMA presentation before revision as I thought that once it was over, I could fully focus on studying. I didn't take into account the time it took for concepts to cement in my head and lost valuable time due to this.
• Don't be fixated on perfection - Sometimes if I set high goals for myself and things don't go exactly how I planned, I get dismayed and even lose motivation seeing that I've already 'failed' or derailed from my original plan
• Move on quickly, minimise future losses - This point carries on from the point above. Say you've spent a lot of time doing research on a topic but later realise that you've approached it from the wrong angle. You can submit it, seeing that you've spent so much time on it and not using it would seem like a waste. Or you could just let it go, move forward and do the assignment correctly. Sometimes you need to let go of sunk costs, because what matters most is the end result.
• Be more flexible, be less rigid - Also related, be prepared to change your approach based on the situation. I was so set on doing things a certain way but when the situation changed, this was no longer the best approach. Not smart.
• Invest in the certainties - In this case, I should have spent a little less time in the uncertainties like job applications and competitions and allocated more time to the certainties; assignments, tests and exams. Deep down I knew I should not have sacrificed my short time goals for my long term goals.
• Stop procrastinating, have some discipline - well this is pretty straightforward. I could probably schedule some breaks in at regular times so I would have some structure and feel less guilt. DELAYED GRATIFICATION is also a good concept to keep in mind (Google the marshmallow experiment)

These are just the points I can think of at the moment (hope it wasn't too repetitive) but I'm going to keep this under 2000 words haha. If you are somehow reading this, thanks for dropping by and joining me in my journey of just understanding myself better. :)

The CIMA Global Business Challenge

Last year, shortly after winning the award for 'Best Presentation' in ACCG315, my team mates approached me about this CIMA Global Business Challenge and how they needed a fourth member to enter. At first, I was hesitant with being able to commit to such a large project and to give it my all. I told them that I wouldn't make any promises, and that they should ask just about everybody else first (they would be able to claim points for the Global Leadership Program) and I would join if nobody else wanted to. (They disagreed). One member started pestering me about it and I decided that it would be a good learning experience (from the in-depth case study as well as the team work experience). I thought that as the task was to write a report and my team mates were not native English speakers, I wouldn't be completely useless. (I'm kidding, just in case it wasn't obvious.) So I finally agreed to be the fourth member of their team. I don't know why they were so insistent on me joining them, somehow they were under the impression that I was intelligent.. (another joke.)

Not long after we registered as a team, we received a case study that was about 20 pages (not even exaggerating) plus a scenario that was about 6 pages (from memory). It was on the oil and gas industry and had five main issues that we needed to prioritise, address and provide recommendations for. Not going to lie, seeing the amount of information we had to process then produce a quality report out of was intimidating and seemed arduous. Thankfully, I had my team mates and being around them highly motivated me and prevented me from distracting myself. After reading the complete case study and scenario, I felt a lot more confident because it wasn't as hard as I had built it up to be in my mind. Soon, we volunteered ourselves to certain issues and got started. I had two issues to address, regarding ethics and the company's public image. Once I started, the ball was rolling and it pretty much flowed from my mind. I also put in extra research, checking on what other industries in the E&P (exploration and production) industry was doing.

Of course, I volunteered to then give the whole report a good once-over to check over grammatical errors. This wasn't as laborious as I thought it would be and I was pleasantly surprised with the quality of our report, (not that I had ever doubted our team). I gained a lot of confidence after seeing the final product and was really proud of our team. I didn't mind if nothing came out of it because I was just proud of what we had produced. I was amazed by Julian's dedication to the project, even adding additional parts to what I had written. He really went above and beyond.

After a couple of emails back and forth to Nicole and some help from Macquarie's team last year, we made sure our report fit the requirements and finally submitted it. We were all happy, having completed the project and continued back to our daily lives, not giving the report another thought. To be honest, we undertook the project, not even thinking about the final prize; for the most part, my team wanted to be able to claim GLP points for our participation.

Then the unexpected happened. Several weeks later, we received an email, congratulating us as we had been shortlisted to the Australian national finals! About 40 teams in Australia had entered the competition. When my team mates first notified me of this, I was overjoyed. Then, a feeling panic set in. We were required to present our report to a panel of judges. In public. I generally don't have too much of a problem with speaking in public, except when I was required to memorize a bulk of information. Blanking out and forgetting what I had to say was my biggest concern. There was also the 10 minute question and answer session to consider too, which could easily make or break us. I was also worried that I wouldn't have enough to say but it turned out that I had trouble cutting things out. We had about a week and a half to prepare for our presentation which was during a critical time in the semester, I distinctly remembered having to submit 3 assessments, 3 days in a row the week before we had to present.

I think I spent about the same amount of time if not more trying to cut out parts of my speech as I spent writing it. But I spent countless hours rehearsing and trying to remember and practicing my speech. I was really worried because even when I was able to remember it without looking at my page, I still got nervous when I practiced in front of my team members. I think I also had the pressure of being under the time limit. I also volunteered to give a summary of our presentation so I had to remember a bit more information.

Even until the day of the final, I was still stumbling a little bit and it worried me and I could tell it worried Julian too. But after taking a break, as we traveled to the hotel, I felt calmer. I knew that I knew my speech by heart. When we arrived, we were led into a room and told that we were last to present. We had to wait one and a half hours before we could present. While this meant that we had time to practice, we wouldn't be able to watch the other teams present. The long amount of time 

before our presentation also made us nervous. We were told that it wasn't good if we were last due to strategic reasons, being compared to other teams but I don't think it made too much of a difference.

When it was our turn to present, I think for the most part, it went smoothly. Unfortunately, I was caught off guard with the questions. I had actually prepared some answers related to my topic but the question asked was not really connected to what I had prepared. It was a shame. Julian stepped in. I had never admired him more than at that moment. Even though he wasn't the strongest English speaker (he honestly has great English skills though) he really saved the day and had something to say about everything.

We came third which we were grateful for. Although we weren't going to Poland, I still think it was a great outcome. We made friends with the other teams and had a great night overall, for me, mainly because I had overcome another challenge and that after this, I would be able to focus on studying for the upcoming finals (but that is another story). It was a great experience and I couldn't have done it with better people. Without my friends' dedication and slight coercion (kidding) we would not have made it this far. I just have the greatest respect for my team mates and they just have this positive energy that is so contagious. Here are some photos from the night.

Getting our medals, a big thanks to Barclays

My turn presenting (thanks Mum)

Achievers and Solutions with Petroworld Consulting, enjoy Poland!

Busy

It has been too long since my last post here, it's not that I've forgotten or decided to abandon the blog. I've just been really busy. (That must be the world's most used excuse.)

In my two week 'holiday', I spent a lot of time learning more about how to write a good cover letter, how to answer applications, and completing oh-so-many practice psychometric tests. I actually discovered an entire market on the internet selling packages dedicated to practice tests, interview guidance and tips and tricks for getting into the Big Four. Did I buy them? No, not necessarily due to the price but because I was already pressed for time with all the time I was spending researching companies, looking at their social media, and tailoring my resume.

People really underestimate the time it takes to apply for jobs. For me, it was not necessarily the hunt for jobs as I already had a good idea of which companies I wanted to work for. But I wanted to give myself the best shot at applying for these companies so I dedicated a significant amount of time to these companies (possibly too long). At the end of the day, even though university is one of my highest priorities, getting into a great advisory position in a company I like is my dream. I feel that as soon as I at least gain experience with a big four company (or another great accounting company), half my worries are over. Regarding university or a career-wise anyway. Getting into an internship at these companies just meant that much more to me because I had no employment history, other than my volunteer experiences.

It also gave me the chance to see whether I really liked accounting earlier on, than being stuck in a position that I had worked over three years for and tried so hard to get into. So far, I have been rejected by two companies, no news from most and today I had just completed a video interview for one of them. I was so excited when I found out because I was convinced that I did pretty average in the last test I completed for the company. Maybe there weren't too many applicants for the location and area I applied for? Regardless, I was really happy that I had made it that far. I think after the video interview, the next stage is the partner interview or assessment centre, so it's getting pretty close. I would be a little crushed if I made it to the partner interview and got rejected as I had invested a lot of time and energy (especially emotional energy) into applying for the company.But it's all part of the learning process, right?

During the application process, I constantly told myself that all this time I was putting in, even though it may have seemed like it was 'all for nothing', was all contributing to making me better at the process. After all, when you make investments, more often than not, the results aren't always immediate.

I think the interview didn't go particularly badly? I mean sure, it started off awkward and right now, I can think of a couple of points that I should have mentioned but it wasn't a total disaster.. I really don't know. I think a good skill to have is being able to present yourself well on camera. That is definitely not an area of strength for me.

Didn't apply for as many places as my friends did. My one friend applied for over ten graduate positions, so I can't imagine how they were able to manage their time so well. While the process is somewhat exciting when you find out more about a company and what it's like to work there, at the same time, there is something just draining about it.

Anyway, onwards and upwards. Next week is a huge week for me, got an in class test, the CIMA Case Study Report due, a groupwork assessment, homework and some catching up to do. Somehow ended up making plans with two different people which right now, I am not really looking forward to.

Happy Easter!

My rabbit, Zippy (thought it was appropriate)

The Easter holidays have started and one thing I am definitely doing is applying for Summer Vacation Internships. Now that I have finally decided that I am staying an extra semester (see post below), that makes me eligible to apply for the internships because 2015 is now my penultimate year. So I haven't quite escaped the job seeking. Hopefully, lack of accounting experience won't hold me back too much with internship seeking. The process seems to be just as long unfortunately but I can really picture myself fitting in to these organisations (especially after what I've read on their websites). This Easter weekend I have been spending time learning more about the organisations and I really need to get moving with my cover letters.

Of course as any Easter, going to church is an essential part of our celebrations. Our family went to the Stations of the Cross on Good Friday and tonight we will be going to the most important mass; the Easter Vigil. There is also one more mass on Easter Sunday. Other than that, no other big Easter family celebrations this year but that has suited me just fine as I really need to get on top of these internship applications.

I have also started a Microsoft Excel course. It's with Shaw Academy, where I took my Diploma in nutrition. While I do know how to use it (not as well as I know Microsoft Word) from year 10 and in university assessments I thought it would be good to gain more knowledge about it. It is made up of 25 modules and after each module is an assessment. Should be able to fit this in my two week break whilst applying for everything. I was also planning to go to the Easter Show this Tuesday but the weather isn't really looking too good. It's going to be a busy day as after the gym, I will be spending the day with my best friend celebrating his belated birthday, then I will have to rush back to Macquarie University chiropractic clinic. Ideally, my GT application should have been finished before Tuesday as they close that day.

Found this on Instagram the other day, thought this was funny (and no, I did not lie, I know how to use Excel)

Thinking about all this is beginning to stress me out, but as long as I write everything down in my diary and form a plan, I should be able to get everything done. I can only imagine how stressed my other friends are, applying for all these graduate positions.

Also, I just found this website, Accountants Daily and spent almost an hour there. I've actually been looking for a website like this (and it happens to be Australian) because in the newspaper you find the Business and Finance section which I read from time to time but sometimes it's like the accountants live in a secret world. Unless there is a scandal or fraud. So when I get the time, I will try and post my thoughts on events that are relevant to accounting.

Cold Feet? (I have some news)

I think most university students at one point of their student life wonder whether they are doing the right degree and wonder if it is something that they are willing to spend the rest of their life doing. A great proportion of students I have come across in university have switched their degree/major at least once. I would be lying if I said that I never had second thoughts about whether I was completely happy with my degree.

In high school, all I knew was that I always wanted to work in business/commerce. At the time, my idea of accounting was working in a tall skyscraper in the city, being dressed in corporate wear and heels and dealing with money. Sort of. Of course, I gained a greater understanding of the discipline when it came time to decide what it was that I really wanted to do. . My Dad was an accountant, many of my relatives were accountants and because of the fairly good job prospects and job stability, it appeared to be the reasonable decision. So I went with accounting. I loved my first year of commerce, and surprisingly, I also loved the accounting units. I also really enjoyed and connected with marketing and principles of management.

I also enjoyed second year overall. As an elective I chose Organisational Behaviour which I found interesting but I later learnt was just not my thing. When I entered my third year, I came to terms that my life as a student was coming to an end. I realised that I didn't really want to leave. Not yet. Like I hadn't experienced all there was to experience in university. Something was missing (sounds cliched but true).

Later, doing Consumer Behaviour (my second elective), I reconnected with Marketing. I remembered how much I enjoyed learning about it back in first year and everything just seemed to make sense to me. I wasn't too sure if it was worth taking the risk because I wasn't sure if I could create a viable future with marketing. I knew I still wanted to be an accountant, and continue with CA or CPA. So for a while, I debated back and forth about whether I should major in both accounting and marketing, and what implications this would have.

I wondered if it was worth investing extra time and thousands more for something that was purely for my own personal interest. I looked further into it and discovered that all I needed was to complete only 5 required marketing units to graduate with a second major in accounting. I would be able to finish this easily in an extra semester and not a year as I had previously thought.

But even though it was only an extra semester, this still meant that I would not be able to apply for all the graduate programs that I had been preparing myself for. I would have to wait an additional year. My life would be pushed back by an entire year. This was a big deal. Or at least I thought it was. I made a friend this semester  who was taking 3 units a semester and would graduate next year too. And I thought to myself, 'what is one semester, out of the rest of your life?'. The only expectation of graduating this year was put on by myself. It didn't matter to anyone else if I graduated later. Graduating a semester later didn't make me a failure. It meant that I was willing to make a choice for myself. After all, life is not a race.

So there it is. I am staying back another semester at Macquarie University so I can graduate with a Bachelor of Commerce majoring in Accounting and Marketing. Notice that it's not a Bachelor of Commerce majoring in Professional Accounting and Marketing, That is because it doesn't exist. This means I could probably graduate this year if I really wanted to because I would just need to complete the required units for both accounting and marketing BUT because I intend on being an accountant and moving on to CPA/CA next, I will be completing all the Professional Accounting units with the addition of the required marketing units.

Busy week recap

Just making a quick post while I have the time. This week has been/will be jam packed. I have become that person on the train or bus working on their laptop. On Tuesday was the CPA Career's Evening, on Thursday I attended a Linked In workshop and tomorrow is a series of workshops hosted by Performance Education on Professional business skills and communication in business settings.

Earlier today, I wrote a post on the CPA Career's Evening (just below) but it was definitely worthwhile going. The Linked In workshop was hosted by the Macquarie Accounting Student Association and Performance Education. While I found the workshop entertaining, I'm not sure if I learnt anything new from it. There was pizza at the end though. I really do appreciate the opportunity for events like these.

Tomorrow is going to be the busiest day yet. Firstly, we will be heading to the public school for the election around 8am. Then by 9am, I need to be at the chiropractic clinic for my appointment. Then straight after, I need to rush over to the university where the first session will start at 10 and end at 12. This will be followed by the workshop which will end at 1. Then I plan on having lunch with friends for a little while. At 2pm, the next session starts and ends at 4pm. The workshop ends at 5. When I get home, hopefully I'll be able to start and finish my corporations law homework. So that is what I have planned tomorrow, Sunday will just be filled with trying to get my accg301 and accg308 homework done which realistically takes about a day with church and food prep. Not sure how I will stay zen throughout all this but thank God that it is week 6 next week, and the Easter holiday right after.

CPA Careers' evening

So a couple of nights ago I went to the CPA career evening which was held at Docklands in Darling Harbour and I got to meet Alex Malley! It was also great to see new corporations with flexible, modern cultures that attracted me.

There was a corner where corporate fashion was discussed (note to self: get another blazer) , a corner where a photographer took linked in profile pictures, a resume checking station (which was so beneficial for me), the stalls and of course the book signing area (my main reason for attending the event).

Alex stayed until the very end which was just so admirable of him. The line was pretty much never ending all night and he said that he signed thousands of books. We waited about an hour while the stalls were all packing up (it wasn't too bad, we played eye spy). In the 30 seconds where I was able to talk to him, he really was as charismatic as they said he was. I told Alex how his book encouraged me to step outside my comfort zone more, even if it's just little things like having a conversation with someone new on the bus. There was a warmth about him and he was genuine. The girl who met Alex just before me was crying and I overheard him telling her that she could ask him any question she wanted and he would answer her, in video.
The night definitely ended on a good note and I am so glad that I was able to have met him!

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(Previous posts on The Naked CEO; http://accountingstudentjournal.blogspot.com.au/2015/01/chapter-one.html
http://accountingstudentjournal.blogspot.com.au/2014/11/update.html)
I really need to write a closing post on the book!