The responsible accountant - Essay Example

THE RESPONSIBLE ACCONTANT Intended Reader: Lisa Cole By: Number: Contents The Responsible Accountant 3 The Development Needs Diagnostics 3 Development areas 3 1.Time Efficiency 3 Diagnostics 3 Goal Setting 3 Action Plan 3 Implementation 4 Review 4 2. Education 4 Diagnostics 4 Goal setting 4 Action Plan 4 Implementation 4 Review 5 3. Self-Grooming 5 Diagnostics 5 Goal Setting 5 Action Plan 5 Implementation 5 Review 5 Conclusion 5 REFERENCES 6 The Responsible Accountant The report serves to provide a platform for the attainment of professional goals that I have set and wish to fulfil in the field of accounting.

The goals serve to fulfil my ultimate aim of being an exemplary professional who is an invaluable asset to my organisation. “Artists who seek perfection in everything are those who cannot attain it in anything (Gustave Flaubert).” The Development Needs Diagnostics The current age of expertise requires all the professionals to analyze and appraise their professional needs in order to move ahead with the career development. “Effective professional development requires thoughtful planning over time in a cyclical and recursive process (Alberta Education).

” My need identification process begun with three elements: 1. Knowledge, skills and behaviours needed to perform my job 2. Actual skills and behaviours I possess 3. Comparison of ‘actual’ with the ‘required’; the gaps indicate the need development I came to the realisation that I need to improve the existing gap between my knowledge and skills that my profession requires. The learning and development process is something continuous and I intend to maximise the process to improve my suitability to the field of accounting.

Development areas 1. Time Efficiency Diagnostics Being an accountant, I need to perform a lot of activities requiring intellect and mental alertness. The documenting of financial data, production of flowcharts, computerisation of data, and management of the accounts of the organization are all time-consuming and tedious tasks. “An accountant is a good accountant, if in practicing his craft he is good in handling the number (Duska Ronald).” Goal Setting Specific: My objective here is specific to achieving time management skills.

Measurable: I tend to set tight deadlines, stricter targets and a planning aspect in the tasks. Achievable: I will work with setting priorities, managing deadlines, keeping track of tasks on daily basis and begin to set personal targets for the year. Realistic: The organizational restructuring, new functional teams and the IT implementation will help in making my time management skill a reality. Time-bound: I should be a trained and learned professional by the first quarter of this year. Action Plan With the help of the time management goals, I shall be able to tackle my professional tasks, taking on greater responsibility and performing with increased efficiency.

I expect to see myself become the most efficient performer and executor of tasks. This involves quick planning, proper organization, prioritization, good technical knowledge and mental alertness. Implementation I shall follow the daily benchmarks and chase hourly targets to meet deadlines efficiently. Taking up more urgent tasks will enrich my action plan further. Review A quick review on daily basis and a detailed analysis of performance on weekly basis would make the goal fulfilment and action plan more effective.

I shall analyze the gaps in performance at the end of every two weeks to give the optimum productivity for the next two weeks. 2. Education Diagnostics Being a professional accountant, I need to know and understand the primary functional areas of a business, management decision-making aspects and the significance of financial and human accountability. I should have knowledge of the target clientele, basic and advanced accounting regulations and practices, and shareholders and stakeholders of the business.

“Expertise, or special knowledge, is acquired through higher education and extensive training (Dr. Imad).” Goal setting Specific: I have to equip myself with all types of accounting and financial knowledge. Measurable: An ease of working in organization’s accounting, wise dealing with shareholders and holding effective Board meetings will enable me to measure the effectiveness of learning. Achievable: Utilizing IT to learn spreadsheet and financial software, studying the accounting methods and procedures, consulting historical records and published reports of the company makes the goal achievable.

Realistic: New training and development programs, seminars, workshops and personal mentoring are a big help in turning the goal into an objective reality. Time-bound: By next performance appraisal session, I should have enough education of all the theoretical and practical accountancy work. Action Plan This goal will make me more capable of handling complicated financial issues of the organization in an efficient manner. With the help of IT implementation and good education, I expect to experience efficient monitoring and review of accounting reports fully, recommending, developing and maintaining better financial databases, and interacting with external auditors.

“Students, in addition to the technical skills required for an accounting career, also need to develop social or emotional intelligence (George Kermis).” Implementation This program will enhance the professional confidence on proper implementation. I shall attend every workshop, training session and will try to do some extra courses in the subject. Review Self-testing my knowledge, efficiency at job-related tasks, and appreciation at work will assess the fulfilment of my goal. A performance appraisal and maximum productivity will be a good review. 3. Self-Grooming Diagnostics My third development is self-grooming, which pertains to an overall development of the personality.

I need to exhibit a potential and confident personality in order to look and sound professional. “Content is as important as the delivery when it comes to training (Shirley Tsang).” Goal Setting Specific: The self-grooming, in apparent and mental context, is the main objective. Measurable: A more confident look and winning position amongst the other colleagues will measure the extent of goal achievement. Achievable: The goal accomplishment will be possible through professional apparel and mental and physical smartness.

Realistic: The increasing advancements and rules of professional conduct at the organization will support my goal. Time bound: This goal needs to be worked upon on a consistent basis. In my opinion, there is always a room for improvement. Action Plan Through this goal, I expect to gain more confidence, become more prominent and be a role model for others in the organization. This goal will lead me to the level of self-actualization. It will involve improved dressing, time efficiency, and dedication to work, gain a winning position, and aiming to attain the leading position.

“Responsible accountants rely on sound analytics and business judgment, require good communications and business influence skills (Thompson Jeffery).” Implementation I shall need to get myself sophisticated attires, and an official look. I will get self-grooming guidance from professionals, and will get necessary trainings to enhance myself personality Review A review of my personality everyday would be a good start. In this way, I will be able to notice the changing phases during the entire professional development of my personality.

Conclusion The personality development plan is a self-reflective assessment for me. It will enable me to gain self-awareness, setting longer-term goals, and will be an assisting factor in the career guidance. It will also make me into a responsible accountant by inculcating in my efficiency, knowledge and skills required to be a responsible accountant. “The price of greatness is responsibility (Winston Churchill).” REFERENCES http://www.brainyquote.com/quotes/keywords/perfection.html Alberta Education, (2011), ‘A guide to comprehensive Professional Development Planning’, Web, Alberta Education Dr.

Imad Faour, (2008). Professionalism & Ethics in Accounting Education, The Certified Accountants, 3rd Quarter, Issue 35 Duska Ronald F., (2005), The Responsibilities of Accountants, The Geneva Papers, 30, 415-420 George Kermis, (2011), Professional presence and soft skills: a role for accounting education, Journal of Instructional Pedagogies, 8-9 Shirley Tsang, (2011), Grooming the new generation of accountants, Prospective CPA Issue No. 77, Hong Kong Institute of CPAs Sonde Tom, (2010), ‘Make Your Accounting Department More Efficient’, Web, Journal of Accountancy Thompson Jefferey C., (2007), ‘Better Practices for Management Accountants’, Strategic Finance http://www.

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