Enabling learners to acquire competence and knowledge is the primary purpose of any educational program. After undertaking this class, I am able to establish that it is effective in preparing learners for the challenges of the workplace. By exposing learners to the various issues in finance and accounting, the class readies them to transform their workplaces. Owing to my involvement in the delivery of humanitarian aid, I recognize the importance of mastering financial management and accounting. I expect that the skills and knowledge that I have gained through the class will play critical roles in defining my professional and personal endeavors.
Among the key aims of this course was to enhance our capacity for strategic decision making. To aid in the attainment of this aim, the class placed focus on accounting and financial management. I have identified various links between the course content and strategic decision making. For many organizations, efficiency is a key objective. Firms desire to keep their costs down and create an environment that discourages such ills as fraud and corruption (Shah 2007). Through effective accounting and financial management, the firms are able to achieve cost-effectiveness and efficiency. Another link between the course content and strategic decision making regards investment decisions. When identifying an investment opportunity, firms need to consider such issues as the expected returns and the cost of investment (De Rus 2010). Thanks to financial management and accounting, the firms are able to analyze different investment opportunities and select the most promising.
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This class has explored numerous aspects of accounting and financial management. While I found the entire class to be insightful, there are certain issues that resonated most with me. Accountability and the implementation of austerity measures are some of the issues that I found to be most relevant and interesting. As noted earlier, I am a member of the international community taking action to resolve humanitarian crises across the globe. One of the issues that hinder the impact of the humanitarian effort is corruption and misappropriation of funds. Thanks to the class on accountability, I now recognize that if they wish to enhance their effectiveness, humanitarian organizations need to account for all monies received. My work has also allowed me to understand that when facing resource shortages, organizations need to implement cuts. This is the essence of austerity. Through this class, I have come to understand that austerity measures are temporary tools designed to enable an organization recover from difficult financial situations. I believe that the insights that I have gained into the importance of integrity, accountability and austerity will find practical applications in my professional and personal life.
As already noted, I expect that I will adopt the concepts that I have been introduced to in this class in my personal and professional affairs. Regarding my professional life, I intend to demonstrate high levels of accountability and integrity at all times. Effective financial management and accounting requires that employees exercise integrity and honesty (Biegelman & Bartow 2012). Many firms lose money because of the dishonest practices of their employees. Other concepts that I intend to integrate into my professional and personal affairs are financial planning and reporting. One of the issues that I have observed while performing my job is that poor planning is to blame for organizational effectiveness. Moreover, when employees fail to adopt proper reporting procedures, a culture of fraud and theft emerges. Thanks to this class, I have acknowledged that it is nearly impossible for an organization to record meaningful growth without adopting appropriate financial planning and reporting procedures. Using the concepts gained though the class, I intend to join my organization in establishing a climate of accountability and compliance with financial management guidelines. My personal affairs will also benefit from these concepts as I adopt proper budgeting and financial planning initiatives.
This class has challenged us to apply the concepts covered to our professional pursuits. I have identified a number of steps whose implementation will enable me to apply the concepts. One of the steps involves working with my colleagues who are more versed with the concepts. I work with professionals from a wide range of backgrounds. Most of them are familiar with the concepts and will help me adopt them into my workplace. This step is consistent with my teamwork spirit. Another step that I plan to take involves adopting the concepts gradually. For change to be effective, it needs to be implemented incrementally. When the implementation happens drastically, it is likely to cause disruptions and inspire opposition (Asli 2015). Therefore, as I incorporate the concepts into my workplace, I will begin with those that my colleagues will find to be more palatable.
Continuity is one of the principles that I pursue in my educational endeavors. I strive to ensure that the programs that I undertake resonate with the classes that I have already taken. This class builds on the modules that I have taken before. For example, these modules addressed such issues as effective communication and teamwork. These issues have been a key focus of this class. For example, we have been challenged to embrace effective communication as part of our efforts to promote accountability. Apart from building on what I have already been taught, the class has also enlightened me regarding the ethical and cultural issues which affect accounting and financial management. Full compliance with laws governing accounting and placing organizational growth above personal interests are some of the ethical issues. Recognizing the value of honesty and respecting the possessions of others are among the cultural questions that the class has explored. Now that I understand the importance of these issues, I plan to uphold them in my professional conduct. In particular, I intend to serve as the embodiment of integrity and accountability. Apart from reminding me of the various cultural and ethical issues that impact organizational operations, this class has also provided me with the knowledge to improve key skills. For example, we have been required to write reports and work in teams. Through these assignments, my report writing and collaboration skills have registered significant improvement. In conclusion, given the growth that I have undergone due to this class, I would strongly advise other students to consider taking the class. The class offers insights on a wide range of subjects which transform learners into champions of accountability and prudent financial management.
References
Asli, G 2015, ‘Organizational change management strategies in modern business’, Hershey, PA,IGI Global.
Biegelman, M T & Bartow, J T 2012, ‘Executive roadmap to fraud prevention and internal
Control: creating a culture of compliance’, Hoboken, NJ, Wiley.De Rus, G 2010, ‘Introduction to cost-benefit analysis: looking for reasonable shortcuts’,
Cheltenham, Edward Edgar Publishing.
Shah, A 2007, ‘Performance accountability and combating corruption’, Washington, DC,World Bank Publications.
