247 Pages
1804 Words
Introduction Of Career Action Plan And Self-Reflection
The main aim of the study is to provide a brief discussion of the personal skills which can help me to achieve the position of financial manager or cost analyst in a particular company. It will also include a career plan through which I will be able to reduce the gaps in the skill sets, which can further help me to maintain proper development in my professional field. In this case, a personal CV will also be presented in the study, which will include my current skills and my qualifications so that the HR managers will be able to review my potential for a particular workplace efficiently. In this case, I also admit that being a financial reporter in a company, I shall be able to gain information on the financial needs and position in terms of both external and internal stakeholders, which can help me to enhance the profit margins of that company.
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Personal analysis
I have gained communication skills through which I will be able to maintain proper engagement in the workplace. Communication skills can also help me to transfer the knowledge on the determined budget to the entire base of workers through which they will be able to perform efficiently so that high-profit margins can be maintained even in the crucial situation of the social environment such as the pandemic of COVID 19 (Zavolokina et al., 2016). Apart from this, I am also able to maintain problem-solving skills in the workplace of a particular company which can help me to address recent challenges and maintain timely development, which can establish a strong financial position. This can also help me to resolve the workplace complexity, which can further boost the creativity of the employees for the long term. In association with this, I have also gained proper technical and analytical skills, which can further help to gain knowledge of financial data in the workplace. It can also help me to maintain the budget while innovating new products or changing the strategies of the company through which a solid flow of the operational cost can be generated (Kim, 2016). My analytical skills can also help me to stay focused on my career objective, which is to become a financial manager in a multinational company. From the e-portfolio, it can be noted that I am also able to focus on the smallest details regarding the changes in the financial aspects of the workplace through which I will be able to promote the accuracy in the financial planning. This can also help me to maintain precise forecasting of the operational cost through which the company will be able to enhance its sustainability and stability simultaneously. Lastly, I am also able to enhance team management in the workplace, through which the staff members working under me will be able to stay coordinated as per the planning (Chang et al., 2020). This can further boost the profitability of the company through which it will be able to stay competitive in the marketplace and attract customers more efficiently than the existing firms in the global market. Proper teamwork can also help me to resolve the issue of misconduct or conflict dynamics in the workplace through which the interest of the stakeholder associated directly or indirectly with the company can be maintained for an extended period.
Resources such as cloud-based computing systems can be used by me to develop my analytical skills, which can also help me to stay competent in the workplace and enhance strategic planning so that the profit as well as sales margin of the company can be increased over the time being (Alshehhi et al., 2018). Apart from this, to maintain reconciliation, I shall focus on staying calm and honest in the workplace so that I will be able to avoid any type of confusion in the workplace. This can also help me to reduce the repetitive accounting statements, which can help me to maintain a proper balance among the assets and liabilities of the company. In association with this, I have learned that I still need to focus on the integrity skills and the skills which can help me to understand the guidelines of GAAP through which I will be able to maintain high standards of accounting in the workplace. I also need to gain knowledge about the Return on Investment through which the company will be able to gain a reputable position in the marketplace and shall develop my mindset in terms of data-driven decisions or aspects. In this case, I have also learned through my experience that I am unable to maintain the feedback sessions of the staff members appropriately in the workplace, through which poor retention of the workplace or the improper presence of talent management can also be noted (Alshehhi et al., 2018). This shows that even if I am working in the start-up, I will be unable to generate the financial statements of the company, and the issues of poor flow of the finance can be noted in the workplace. It can also reduce the valuation of the company as the documents might be inappropriate to plan the future strategies of the company.
Career action plan
| Skills that are required to develop |
Actions for development |
Resources required for development |
Time scale |
Further comments |
| Maintaining knowledge IFRS |
I shall read the timely changes in the IFRS standards and shall generate the cash flow statement, balance sheets or the asset revelation concepts according to the rules of the IFRS system. Is hall also understand the frameworks of GAAP, which can further help me to stay within the basic guidelines of accounting through which the issues of misconduct can be resolved |
I shall be using the magazines and the US guidelines to gain constant knowledge on the IFRS or GAAP standards |
It shall be developed within the period of 6 to 9 months |
I shall be focused on the similarities and differences between the GAAP and IFRS standards through which I will be able to encourage proper financial statements in the company |
| Integrity |
I shall stay honest and shall focus on maintaining constant engagement with the managers of the company, through which I will be able to maintain proper forecasts on the financial structure of the marketplace |
I shall maintain on-job training through which I will be able to determine the structure of the revenue, which can help me to stay honest with my work |
The time period of 5 months is enough to gain integrity skills |
Virtual knowledge on the financial accountability can also be helpful for me to enhance my performance |
| Calculating ROI |
I shall gain knowledge on return on the invested capital and the net present value of investment through which I will be able to increase the profit margins of the margins over a particular period |
I shall watch and learn from the videos posted on YouTube by the financial reporters of the company, through which I will be able to determine the potential of the company in terms of earning the desired profit margin in emerging economies or the competitive marketing environment |
The timescale of 11 months can be helpful in developing knowledge of ROI |
Proper knowledge of the payback period can also be helpful in maintaining successful operations in the workplace |
| Data-driven skills |
In this case, I will focus on interacting with the large amounts of data through which I will be able to synthesise so that I will be able to make proper strategies as per the requirements of the company |
I shall be using the cloud computing system to enhance my decision-making skills |
A time period of 4 months is required to develop the data-driven skills |
It can also help me to prepare the financial statement appropriately, through which the issues of improper evaluation of the data can be reduced |
| Dyadic communication |
I shall focus on the timely feedback session from the staff members. It can also boost my reputation in the workplace |
In this case, communication tools such as Skype through which I will be able to achieve the goals of the company easily |
The time period of 7 months is enough for the development of this particular skill |
It can be helpful for me in future as it also promising for mountain a positive relationship with the staff members |
Conclusion
It can be concluded through the study that I should value the financial accounting skills through which I will be able to develop the performance and productivity of the company with the desired profits. In this case, the online websites and the videos on self-development of financial skills can be gained through trusted sources, which can help me to enhance my skill sets. I have to focus on the two-way communication skills, which can help me to understand the issues faced by the staff members for the employees of the company in terms of managing the budget, which can further be resolved on time to reduce the risks of losses. Apart from this, it was also concluded through the study that I shall also focus on data-driven decisions, which can help me to create a proper balance between the expenses and income earned by the company in a particular period.
References
- Alshehhi, A., Nobanee, H. and Khare, N., 2018. The impact of sustainability practices on corporate financial performance: Literature trends and future research potential. Sustainability, 10(2), p.494.
- Chang, V., Baudier, P., Zhang, H., Xu, Q., Zhang, J. and Arami, M., 2020. How Blockchain can impact financial services–The overview, challenges and recommendations from expert interviewees. Technological forecasting and social change, 158, p.120166.
- Kim, J.H., 2016. A study on the effect of financial inclusion on the relationship between income inequality and economic growth. Emerging Markets Finance and Trade, 52(2), pp.498-512.
- Zavolokina, L., Dolata, M. and Schwabe, G., 2016. The FinTech phenomenon: antecedents of financial innovation perceived by the popular press. Financial Innovation, 2(1), pp.1-16.
