Griffith University 2108AFE Financial Accounting Practice Reflection

This practice-based reflection report from a Griffith University student undertaking the 2108AFE Financial Accounting course explores the student's learning experience, the relevance of course material to the accounting profession, and their understanding of the profession. It covers the application of professional knowledge and skills in the workplace, identification of career pathways, professional roles and responsibilities, personal strengths and weaknesses, and potential additional studies. The reflection also incorporates a case study analysis, emphasizing ethical considerations and adherence to professional codes of conduct, ultimately concluding with a self-assessment of accounting knowledge and professional skills. Desklib offers a variety of solved assignments and past papers to assist students in their academic journey.

REFLECTIVE WRITTING

Table of Contents
Introduction................................................................................................................................2
Understanding the application of professional knowledge and skills in workplace..................2
Identifying career Pathways associated with current program of study.....................................3
Identification of professional role in workplace and their associated responsibilities...............3
Identification of own strength and weakness in relation to particular careers...........................4
Additional study that I can undertake who developed optional professional careers................5
Conclusion..................................................................................................................................6
References..................................................................................................................................7

Introduction
Self reflection can be justified as the guiding principle for every human being. One can
evaluate his or her views and ideal through self evaluation and Reflection as per requirement.
In the field of being a CPA self reflection clearly justifies authoritative position in daily life.
Gathering of self reflection concern and understanding the required phrases of self need
justify its importance in daily life. The instance of self reflection clearly determine one
percent to gain better understanding of the brain weakness that may lead to inappropriate
questions are used in operating business work on using a organisation into success. In the
field of accountancy test reflection on a reflective practitioner is important and obvious
because it has a positive impact over the ethical consideration of any accountant in an
organisation.
Understanding the application of professional knowledge and skills in
workplace
Importance of understanding a practical fit assignment is obvious for every consideration of
accounting work. Minding procedures that are to be implemented in an organisational
accounting process relies upon the knowledge of professional accountant. The profession of
account in organisation is critical as because it also plays a role of intermediary for
communicating every information so financial digit and calculation of risk and losses. Which
every States been taken by an accountant in profession is dependent upon communication
with the other workers in the organisation. It help in gathering transparent information that
lead to word explaining or asserting exact required information over the company or the firm
being led by the accountant (Bradbury, Hsiao & Scott, 2018).
With proper communication comes requirement of teamwork and combinations of ideas and
coordination among management will directly have positive impact over time management
and interpersonal skills development. Since, time management and interpersonal skills are
objective that must be fulfilled by accountant in general requirement, these delivers to be
milestone for every accounting department within process. The acceptance of interpersonal
skills in an organisation would lead to word communicating with every member of the
company to decide and deliver ideas and information respectively (Vollmer, 2018). Proper
coordination and proper interpersonal skills directly provide advantage over professional
knowledge and application of skills in workplace. Now to verify every manual accounting
process I would like to use hard copies of paper ledger and journals to record the financial
information.

Manual accounting would have proper recording possible through book of original entry
virus in computer accounting system data content will be provided an improved within
database customised. Amazon important difference that can be observed in Manual
accounting and computer accounting are the difference of preparation in trial balance. In
Manual accounting the trial balance is prepared whenever necessary and on the other hand in
computer accounting instant preparation of trial balance is provided on daily basis.
Identifying career Pathways associated with current program of study
My current programs of study insist me to go for the qualification of Chartered Accountant.
Being a chartered accountant has always been in the priority list of my aspiration. With the
preparation that I am taking in general courses in present time is focused in clarifying and
clearing my final exam of Chartered Accountant.
On keeping my views over the current period of time my career aspirations is targeting up on
becoming a successful professional chartered accountant to work for organisation where I
could use my ethics and professional skills to improvise over their success.
Being in the field of Commerce there is huge opportunity present in front of me if I don't
succeed or qualify for clarifying the finals of Chartered Accountant as I could be going for
CMA, CPA or law related job in organisation as corporate secretary.
Identification of professional role in workplace and their associated
responsibilities
Being qualified as chartered accountant in an accounting firm I have various positions
available for me in an organisation which includes company secretary. Company secretary is
another course that must be completed in order to make sure that I get my position open if I
don't get any work in relation with accountant in an accounting firm or an auditor. The
objective of Company Secretary is to guide the form into success by keeping in mind all the
external relation with other organisation, lawful consideration and objective that are to be
verified in order to bring out proceeding related to business dealings (Brierley & Gwilliam,
2017). Other roles include billing department manager, cashier bank manager and business
analytics. In consideration of bank manager or department manager I will be managing the
organisation from the overview keeping in mind every transaction as well as operations that
is being considered by the organisation of the form I am guiding. Billing department
profession is simple but hectic work that I may consider if I don't consider being accountant
or Auditor in an accounting firm (Louwers, Ramsay, Sinason, Strawser & Thibodeau, 2015).
My prime objective would be to transfer and validate all the salary details to be employees in

the organisation keeping in mind every considered terms and conditions that represented by
the organisation in relation to payment of the employees. I will be liable to answer a
discrepancies raised by the employees in terms of payment miscalculation or variation from
actual (Smith & Wong, 2016). Out of all the roles informed about being bank manager or
department manager attract me the most as because it has a sense of authority and self
proclamation chance that would give exposure to my knowledge and professional skills in
future.
Identification of own strength and weakness in relation to particular
careers
Internal Factors
Strengths Weakness
I
In relation to the profession of being a CPA
my personal strengths are as follows:
 Better communication with people
around the organisation
 Proper understanding of situation and
providing ideas
 Bringing out creativity in solving
problems
 Goodwill with the employees in the
organisation
In response to being a CPA my weakness are
as follows:
 Short temper
 Not managing of anger in critical
situation
 Evaluating thoughts and ideas in Co-
operative manner
External factors
Opportunities Threats
Considering FB expect my opportunities are
as follows:
 More learning material present in the
organisation
 Better support from seniors
 Cooperative workers and their
members
Keeping current situation in mind the general
threats that may come to my profession are as
follows:
 Changing of ways in recording
accounting information in the
organisation
 Upcoming business train and
Changing of policy
 Change in management group and

rise of questions from external
department due to share holding
Additional study that I can undertake who developed optional professional
careers
There are numerous of studies that can be Incorporated and made into general studies stream
other than being chartered accountant or other cost professional accountant. I could go
forgetting studies related work in bachelor of law which is considered to be LLB, becoming
Cost Management Accountant or company secretariat. Considering the recent operating
world of finance common law and communication with other business organisation
considering the study of company secretary is quite evidential. If I could go aside from the
commerce background work-related professional study I could develop my interest in having
diploma programme of travel and tourism hotel management Aviation and flight steward or
diploma in education. Hotel Management or tourism management is quite a growing
professional study in recent period of time that obviously has made enough evaluation in
general world creating great number of job opportunities and professional development
(Kross, 2017). Going for study of law will enhance my opportunity in gathering knowledge
regarding the lawful consideration those organisations must avoid by leading me to become
professional lawyer for companies in terms of lawsuits and case study operation. I could also
become civil lawyer as well as criminal lawyer apart from doing any accounts work although
relating or having a background of Commerce (Prakash, Jain & Chauhan, 2015).
Case study
Dedication and efficiency would result in improving the general acknowledgement among
the employees of the organisation and also increase the Goodwill regarding the development
of work procedures with every way possible. Possible objective must be clarified and I must
evaluate every chance to ensure index knowledge about case that occurred in the
organisation. From the above objective that has been presented reloading the case study
provided above I will surely encourage my team member to ensure the entire objective to be
shared with me. However, when it comes to understanding of the importance of gravity of the
situation would surely ensure understanding the requirement that is in present observed by
the company. If it is important that I see that the situation may go out of and I must speak to
my senior authority about the situation and really justify that with accordance to Australian
accounting standard board 138 the company would have made a loss of five hundred

thousand of trillion dollar. Providing fruit information remains to be one of the ethical
considerations followed by me.
In accordance to the code of ethics for professional Accountants I must be clear regarding the
aspect that generally verifies the authenticity of information presented by me. Disclosure of
fact with proper reasons attached to it and disclosing the fact to the liable person remains in
consideration under the code of ethics for professional accountants (Kaptein, 2015). I will
abide by the law and the code of ethics. I will make my manager aware of this situation. The
action will be in terms of the organisation and not thinking twice about the subsequent act
that may follow but only the development, security and success of the firm.
Following of the laws including the code of ethics for the accountant would give me extra
chance of amending any discrepancies seen in work place. The following of the information
and the descriptive format of rules will also help me in gathering knowledge that can be
utilised in procuring success gripping advantageous position for firm, company or
organisation.
Conclusion
From the above reflective I can easily verify my knowledge regarding the accounting
prospect that has been discussed in the above work. I have made critical evaluation of every
ways that may be followed in providing professional accounting help. I have made my
reflection enough knowledgeable and verified my communication skills. In the very
beginning of the reflective work, I have presented the reason behind preparing the self
reflection work and I can easily and clearly consider that my reflection regarding the act of
accounts, procedures, rules and regulations, code of ethics and knowledge regarding
professional activities are quite evident.

References
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