POA Learning Journey to Jem & Westgate

Our Secondary Three Principles of Accounts (POA) students recently embarked on a learning journey to two popular shopping malls in Jurong, JEM and Westgate. The trip offered students a first-hand encounter with real-world applications of Accounting principles, enriching their understanding of concepts learnt in a tangible manner.

In groups, our students navigated the bustling corridors of the malls, visiting an array of shops and interacting with retailers to glean insights about running a business. One focal point of their exploration was the vibrant trading sector, exemplified by well-known establishments like Foot Locker and IKEA. Here, students observed the intricate dynamics of trading businesses in action. They learned more about how these companies procure goods from manufacturers and wholesalers and subsequently sell them to consumers at a profit. Moreover, they gained valuable insights into inventory management techniques and strategies for enhancing revenue through attractive discount offers for shoppers.

Students also popped by a hair salon and an orthopaedic clinic to learn more about the distinctive nature of service-oriented enterprises. Through these encounters, students grasped the fundamental difference between goods and service sectors—that service businesses offer consumers intangible experiences rather than physical commodities. Further, they learnt about the types of non-current assets that service-based ventures own—like furniture, benches, and mirrors in a hair salon—which serve to facilitate operational efficacy.

All in all, the excursion to JEM and Westgate was an enriching experience that allowed our POA students to extend their learning beyond the classroom. The invaluable insights gleaned through this learning journey will no doubt be useful for their future academic pursuits and professional endeavours in the realm of accounting.