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 understanding costing principles. The journal also highlights the application of strategic management accounting in measuring financial performance and managing working capital, alongside advanced capital appraisal techniques. The learning is credited with improving the author's ability to address real-life financial issues and contribute to their company's financial decision-making processes. The author identifies a need for more practical application and real-life examples in the module to enhance its effectiveness.

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

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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.