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Reflection about role of financial manager
Reflection about role of financial manager
benefits and limitation of strategic planning in organisation
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Career Goals When I married nearly 5 years ago, I suddenly needed to relocate and find a new job where my husband and I decided to reside. I was working as a department manager for accounts payables and assistant bookkeeper, a position I acquired through many years of experience and time with the company. It was over two years before I found a suitable replacement job and in the meantime I had a long commute to work and home everyday. Eventually I accepted a substantially lower position and pay then my knowledge and previous experience. I feel that had I attained a college degree, a requirement for most career opportunities, my job search would not have been so lengthy. Today I am finally working towards my AAS in Business and I would like to increase my accounting knowledge and increase my opportunity for advancement in my secular job, by specializing in human resources and eventually managerial accounting. Advancing my knowledge in the accounting field seems to be the most logical fit for me. I work …show more content…
An accounting manager is responsible for the financial health of a company, and the development of strategies and plans for long-term financial goals of their organization. They oversee the daily operations of the accounting department, forecast the financial needs of the company and assist the company manager with organization by assigning projects and directing staff. In order to successfully manage a company’s finances, the financial manager reconciles day-to-day accounting activities and establishes financial status by developing and implementing systems for collecting, analyzing, verifying and reporting financial information. A financial manager is also responsible for establishing and enforcing proper accounting methods and policies, as well as helping auditors who will verify the accuracy of the financial reports and look for any misrepresentation or fraud within the
The functions of managerial accounting include planning, decision-making, controlling, and evaluation. To make good decisions, managers must constantly adapt to technological changes, changes in the organization's needs, and new approaches to other functional areas of business-- marketing, production, finance, organizational behavior, and corporate strategy. Planning is the setting of goals and developing strategies and tactics to achieve them. Controlling is concerned with achieving the goals and evaluating performance. The success of an organization lies heavily on the shoulders of those making these decisions.
Accounting is a system used to provide financial information about a business or person. Accountants prepare and analyze financial records for individuals, companies, governments, or other organizations. Accounting is a basic need for every business, and the term business has been broadened to mean any operation that deals with money. That includes families and corporations, and also schools, theaters, art galleries, charitable organizations, and even some private persons. People sometimes call accounting “the language of business” because accounting data are used to detail firms activities. Accounting tells the history of a business or person in numbers.
Why should you have an accounting degree in the first place? You should have an accounting degree because there are always jobs in this field and the chances you will actually get a job are really high in either public or private accounting firms. People say, having an accounting degree can have 360 different job opportunities. You can work anywhere because everyone needs an accountants from in businesses, for the Government, or even by yourself the options are unlimited.
I have taken many accounting classes which have given me a solid foundation on which to build upon my accounting knowledge. I believe the best way to do that is through experience. I will be able to gain experience when I begin my internship. I have gained some accounting experience when working at my parents’ business. I have recorded receipts, recorded purchases, used QuickBooks, completed payroll, and completed bank reconciliations. I am also going to be able to build on that foundation when I begin to network with people who have been accountants for years. I am eager to learn so that I can grow as an accountant. I want to strive to be the best that I can
I have three goals in my life. The first one is that I want to become an excellent accountant. The second one is that I want to help my family get a better life. The third one is I want to be an accounting professor in college, help more and more students like me become successful. I want to be an accountant because I really like math and I also like to control money. When I try to complete the balance sheet, I feel real happy and exciting, I feel like I was complete an exquisite artwork. So right now I try to keep working on my accounting study and I believe I can get an A in the end of this semester. After I finish my bachelor, I want to take CPA test and become CPA. Once I become a CPA, it may easier to find a job as a professional accountant.
Educational Goals: Education is extremely important part of my past, present, and future goals. I currently hold an Associate of Applied Science in Graphic Design Media. I have found that an A.A.S Degree does not go as far al I originally intended in the Rochester, MN area and furthering my education will be a necessity for my future career goals. Over the past 2 years I have been working on my Bachelor of Science in Business Administration at the Minnesota School of Business Rochester campus. I am currently a senior with 3 quarters left before a spring graduation. After a June graduation, I plan on taking a summer quarter break. After summer break I will either continue on at MSB for my Masters in Business Administration with a Minor in Marketing or transferring the University of Minnesota for my Masters in Adult Education. After my Masters Degree is complete I will decide at that time if I wish to continue on and achieve my Ph.D.
The venture to be the owner of an accounting and tax service provider is not a small task, and you have realized the challenges that many experience in starting their own business. Fortunately, you have taken steps early within the life of your new business in an attempt to correct any problems and learn from past mistakes in order to be successful in the future. In our previous communications you mention that you started your own business because you wanted to work in your own community, have the flexibility of owning your own business, while also being able to make a good living, and these are all worthy motivators for a fledgling business owner. You have earned your degree and your certified public accountant (CPA) designation, which has allowed you to realize success as an employee of a popular accounting firm. While employed at the firm, you were able to progressively take on greater responsibilities during your tenure and gain much needed experience; however, starting and managing a business requires some additional skillsets. Regina, you have proven that you are a bright individual with the necessary resourcefulness and skills to be a certified professional accountant and open your own business, and I am confident that you will be able to gain the skills needed to be successful with your business, and to become an effective leader.
The career requirements vary from school to school. Although accounting education majorly requires an extreme concentration on Mathematics, business, economics, and finance (Nobes). Every profession has a set of standards that must be achieved educationally. Since I plan to shift and complete the program at Kennesaw State University, there are specific needs to enter the school. For instance, a letter of application with at least three references, a letter of good character from the home institution, and past academic transcripts from the previous institutions (Kennesaw State
My first goal is to continue my education by earning a Master’s degree in Accounting right after completing my bachelor’s degree. The MSU’s Accounting program attracts me for both its reputation and its career opportunities available for international students. It is my responsibility as a future accountant to be really familiar and proficient at the tools accountants use regularly. Achieving my master’s degree will also help me achieving my second goal of becoming a CPA by meeting the requirement of curriculum. Thus, I am professionally and academically motivated to earn a Master’s degree of Accounting at the Broad Business College.
An accountant makes sure that the Nation’s firms are run efficiently, the public records are kept accurately, and that taxes are paid properly and on time (“Accountants and Auditors”). Accounting is the study of how a business tracks their income, assets, expenses, and many other things for a period of time. They also do many other things like quality management, tax strategy, and health care benefits management (“Welcome to Careers in Accounting”). An accountant is crucial to the success of a business, without one the business tends to fail.
There are many business degrees that lead into many areas. It is known that a person with a business degree can work in any field, because every business needs people with business sense. Business degrees opens doors throughout the corporate world. Whether the emphasis is on accounting, finance, marketing, or management one can get a job anywhere. An associate’s, bachelors or master’s degree in business administration is the starting point for a wide range of careers that are always in demand. For those interested in working in the field of business, this is the most versatile degree to achieve that goal according to Yahoo education. Students realize that a business degree can point them any many directions in the future. Not just the stereotypical banks and trust companies, but anywhere they choose to work from schools, hospitals and even law firms. Knowing a person in business can work basically anywhere they wish is what drive so many students to go towards a degree in business. The number one bachelor’s degree comes as no surprise, accounting. It i...
Pursuing the degree in accounting would definitely open up the doors for me. It can prepare me for advancement and give me the foundations to become a CPA, to pursue a career in finance or corporate management, to work in government, or become an entrepreneur. As a matter of fact, no matter what I decide to do, having an accounting background
First, I will express my personal mastery journey with my work life. I just recently graduated from the University of Indianapolis with my undergraduate degree in accounting. I graduated with a high GPA while participating in collegiate baseball, which I believe will help set me apart from others when beginning my career. That being said, I also believe that I have a lot of learning to do in order to be successful in my early career. I feel that I did not learn as much as I should have about accounting and I will need to dedicate a significant amount of time relearning and learning to have success in the accounting field. My vision for my career is to be a partner at a mid-level accounting firm in my early to mid 30’s. I aspire to be at a company that challenges me and allows me to progress and meet my goals. I would prefer a mid-level accounting firm because it would allow a better work life balance due to less hours. In order for me to bridge this very large gap of where I am currently at and where I aspire to be, there are a great deal of obstacles I need to overcome. First, I need to land an entry level position with an accounting firm that I feel will allow me to grow and succeed. I also need to put in the time to learn as much as I can about the profession. Finally, I need to allocate a substantial amount of time to studying and passing the certified public accountant exam. This is my
In Management, the accountant gives advices to the individuals and business people, how to manage their business. The account information is considered and some business decisions are taken in both financial and non-financial departments. Budgeting, tax filing, and financial statements. Other activities like involve in planning com...
When I think of a financial manager, accountant quickly comes to mind. The role of accountant and financial manager are similar in several ways and often times they work closely together on various projects. The role of an Accountant is to ensure that their organization is run efficiently, make sure their records are accurate, and that their taxes are paid properly and on time. Accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients. They record and analyze the financial information of the companies for which they work. Other responsibilities include budgeting, performance evaluation, cost management, and asset management. “The role of the financial manager has expanded beyond traditional responsibilities related to company's finances. A financial manager, through his/her understanding of the company's financial health, the current market, and the goals of the company, helps set direction and guides decision making.” Financial managers perform several different task related to finance for their organization they normally oversee the preparation of financial reports, direct investment activities, and implement cash management strategies.