Jensoo- Love Inevitably

Lost Soul

LISA's POV

"Miss Manoban.."

"Yah- Lisa, our Prof is calling you." I heard Jisoo Unnie whispered cautiously as she discreetly nudge me at my side which halted me from zoning out and brought me to reality in an instant.

I looked around the lecture hall and found all of our classmates looking expectantly at me. Some were exchanging whispers and sneers as they watch me stood, looking all clueless while some just look away and continued reading and taking notes from their seats. I looked at Jisoo Unnie who at the moment was secretly handing me her notes and pointed the highlighted paragraph.

I turned my gaze at our Prof who at the moment, was standing at the raised platform waiting for my answer. I gulped nervously, as fright starts to build up inside my chest when I heard Jisoo whispered again pointing at her notes.

"I will repeat the question Miss Manoban, in case you didn't heard what I just said earlier." The Professor said which caused sniggering from the class but Dr. Shin gave them a dead stare and everyone halted from laughing at once.

"The thing I hate the most in my class are bullies." she uttered with such emphasis.

Dr. Shin may be new to this field since she used to be the COO of their company from a far province and only settled here to accept this job for unknown reasons as what the rumors says, but her expertise and work etiquette is beyond comparison.

She has this certain charm of keeping the whole class silent with out any effort cause all of her lectures were all extremely interesting and valuable.

"If you can laugh at someone else's mistakes or shortcomings and find it funny, just make sure that you'll be able to respond from all of my questions correctly cause if you don't, then you're worse than the person you're making fun with." she said firmly which made the whole class silent. She then turned her gaze at me and her demeanor softened which somehow, melted my growing anxieties.

" Again, Miss Manoban, could you define in front of the class what Cost Principle is?" the strict professor asked and I instantly took Jisoo Unnie's notes. Good thing, she already highlighted the important parts.

"The cost principle, also known as the historical cost principle states that assets should be recorded at their original cost, rather than their current market value." I recited with out looking at her notes but Dr. Shin still seemed pretty unconvinced and so she threw another question for me.

"Could you explain to us how cost principle works in accounting?" she asked again.

I closed my eyes trying to contemplate and grasp everything so I could construct a more convincing and acceptable answer.

For three days since the opening of school have started, I still find it hard to cope up and adjust with the new environment I am in. I would always find myself, slowly drowning and drifting away from reality that I find it hard to focus on my lessons especially during lectures and classes.

I heaved a deep breath and finally answered.

"In Accounting, we have to know the importance of assets. Assets are anything of value that your business owns. Because they are so important to your business, it's essential to record and report their value accurately and consistently."

"There are four basic financial reporting principles governed by generally accepted accounting principles or what we call GAAP. These principles are designed to provide consistency and set standards throughout the financial reporting field. If you wish to be compliant with GAAP, the cost principle should be used since cost principle maintains that the cost of an asset must be recorded at historical cost, or its original cost and should not be recorded at fair market value. This is because, in many cases, the cost of an item is subjective and dependent on market conditions."