Reflective Journal: Financial Decision-Making and Applications

This journal entry summarizes key learnings from a finance module, focusing on financial decision-making, strategic management accounting, and working capital management. The author reflects on examining major issues in decision-making, differentiating relevant and irrelevant costs, and unders...Read More

Running head: SUMMARY JOURNAL ENTRY
Summary Journal Entry
Name of the Student
Name of the University
Author’s Note

1SUMMARY JOURNAL ENTRY
In this module, I have learned many things. First, I have learnt about various purpose of
financial decision-making. In this process, I have learnt how to examine major issues in the
decision-making process. I have also acquired knowledge about the difference between relevant
and irrelevant costs. My learning also includes major principles of costing. In addition, I have
learnt to examine the differences between qualitative and quantitative factors in decision-making
process. One of my major learning from this module was various concepts of strategic
management accounting and its role in decision-making process. This has helped me to measure
the financial performance of the companies. I have also learnt the management of working
capital along with advanced capital appraisal.
The learning from this module has helped me in my work life as I have become able to
understand different real life financial issues. As a result of this, I have developed positive
attitude towards solving the real life financial issues. For example, this learning has helped me in
the financial decisions-making process of my company.
With the help of this learning, I have been able to apply my theoretical financial
knowledge in my practical work life. Thus, I have become able to perform well in my company.
This particular aspect has widened my career path in my company, as there is a large scope to get
promotion by performing well. For all these reason, this learning has helped my career in many
ways.
There is always scope for further development. What I have learnt in this module was
based on theoretical ground. There was a lack in practical application of the lessons learned. This
is a major area of development in this module. In addition, there was not much use of real life

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financial examples in this module. Inclusion of real life financial issues would make the learning
more effective.

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Bibliography
Brigham, E.F. and Ehrhardt, M.C., 2013. Financial management: Theory & practice. Cengage
Learning.
Healy, P.M. and Palepu, K.G., 2012. Business analysis valuation: Using financial statements.
Cengage Learning.