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From Case Study to Professional Practice, image, image, Sources: www.bing…
From Case Study to Professional Practice
Problem solving skills that I have developed
Creativity
The ability to develop alternative or never-before heard-of solutions to approach challenges
Teamwork
The ability to discuss different perspectives with teammates in reaching a conclusion
Critical thinking
The ability to analyse information carefully before making a recommendtion
Communication
The ability to explain issues, ideas and recommendations to the end user
Applicaiton
The ability to apply the theoretical knowledge that I have learned in prior modules
Risk assessment
The ability to identify strengths, weaknesses, opportunities and threats
Professionalism
The ability to complile a professional report fit for the users of financial information
Guiding principles
Accounting standards
IAS12 - Income Taxes
IAS16 - Property, plant and equipment
IAS21 - Foreign exchange
IAS23 - Borriwing costs
IAS36 - Impairment of assets
IAS37 - Provisions, contingent liabilities
and contingent assets
IAS38 - Intangible assets
IFRS3 - Business combinations
IFRS15 - Revenue
IFRS16 - Leases
Financial instruments
Assets or contracts with financial value
Cash, shares, bonds, loans and receivables
Ethical conciderations
IFAC Code of Ethics
Objectivity / Independance
Professional behaviour
Professional competance and due care
Integrity
Gaps to improve on
Attention to detail
Attention to grammar, spelling
and concepts commonly used
Research the relevant industry
Time management
Practice writing reports
Complete the report
within the given time
Different disciplines
Financial Management
The process of controlling an organisations financial resources to achive its goals
Financial management could provide recommendations to the company on how to ustilise resourses to achive its goals and to be profitable
Auditing
The process of examining and verifying internal controls and financial information to ensure that they are accurate, reliable and complete
Audit procedures could provide recommendations to improve on a company's internal controls
Accounting
The process of identifying, recognising, measuring, presenting and disclosing financial transactions of a business
Accounting standards prescribe the correct way to record and track transactions of a business
Connecting them all
Identify problems, provide recommendations for business decisions, to improve financial performance
Sources:
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IFAC Code of Ethics
