Setting Realistic Goals for Success: Importance and Long-Term Goals in Management Accounting

In this assessment we will discuss about management accounting and below are the summaries point:- Setting realistic goals is important for motivation and success in life. Goals can be short-term or long-term and provide focus and measurement of progress. Realistic goals help manage expectations and prevent disappointment. Realistic goals are attainable, measurable, and specific. Setting goals helps create a detailed action plan and keeps individuals motivated.

Running head: MANAGEMENT ACCOUNTING
Management Accounting
Name of the Student:
Name of the University:
Author note:

1MANAGEMENT ACCOUNTING
There are several reasons why you might set goals. Discuss the importance of setting
realistic goals and describe your most important long-term goal for the university.
Setting goals in life is the very first step towards achieving dreams as it is something that
constantly motivate a person to keep on working hard for attaining the end point that he or
she has written on the paper. It is something that helps an individual to stay focused and
determined on being successful. I believe that setting goals in life help ourselves to fuel up
our ambition. However, one of the very common issue that comes while formulating goals is
making some set of realistic assessment of the necessary effort.
Goals are something that takes individuals forward in life. They are simply the oxygen of
dreams. They give a focus, allow to measure the progress, keep people undistracted and
locked in. Moreover, it helps in overcoming the procrastination. They are basically of two
types- long term and short term. Goal setting is a highly important step towards ensuring that
the endeavours of an individual is turning out the way that he or she wants them to. Setting
realistic goals help people to limit their expectations. It is the very first and the most
important reasons why every individual should strive to set such goals. It does not mean that
people should not trust their abilities of attaining great things. It is also not that people should
blindly trust that they can do anything and everything. The things is- having high
expectations and then ending up with really disappointing results is the main reason behind
why most of the individuals literally stop to achieve what they want. Therefore, setting up
some realistic goals that are attainable, measurable and specific are the best way to make sure
that this would not happen. Also, it is seen that when people get very excited regarding
something, they tend to lose their sight of reality. It is when they think that the goals that they
have in their mind are very easier to achieve than they actually are. But it is to note that the
moment when people focus on being realistic while setting their goals, they are also forced
towards acknowledging that there are many smaller goals which can aid to attain their desired

2MANAGEMENT ACCOUNTING
result or end goal. This in return would motivate them to come up with some detailed action
plan and at the same time, tackle the things all at once.
Everyone has certain things that they would like to attain in life. Setting the goals and
achieving them are not only get the things done but at the same time, they could help in
building individuals’ sense of well-being, happiness and self-esteem. It is more possibly to
happen when the goals are realistic. It is to note that the realistic goals are comparatively
more motivating as compared to the ones that set the bars very high. Realistic goals are all
about being as specific as possible, thinking regarding the challenges or limitations and
ensuring that we are completely committed towards achieving it. It is to mention that setting
goals is a very powerful method of thinking about our ideal future and at the same time, is a
process of motivating ourselves to turn our vision of future into reality. It helps an individual
to choose where one wants to reach in his or her life.
The very first step in setting realistic goals is deciding what is required or what an individual
want. There are many people who have a good sense of the things they actually seek for. It
might be wealth, health, better relationship, happiness or anything. The first task is to
translate them into the things that they would like to attain. Furthermore, before determining
whether the goal is realistic or not, one need to make the goal specific in nature. It would
provide a better clarity. The goals that are specific are way more achievable and motivating
as compared to the vague goals. Moreover, individuals need to determine how challenging is
the goal and this would require a good research on the subject. What skills are required, its
cost, the time it shall take and the changes in the lifestyle that the individual needs to make.
Identifying the obstacle and limitation are also very necessary in order to get equipped with
the challenges concerning achieving the goals.

3MANAGEMENT ACCOUNTING
My most important long term goals for the university is to attain a PhD level of education on
my subject that would further permit me get a work that I love, that makes me excited, earns
good living to maintain mine and my family lifestyle and that I truly enjoy. For this, I need to
improve my accuracy for scoring better grades in both my practical and theories and at the
same time, I need to work hard on my skills of presentation for my final verbal presentations.