1. What performed you study from the meetings with your project mentor, including the display that you provided to assembling your project mentor?
First of all, I used to be aware that three meetings with my task mentor are extremely important to accomplish the whole task successfully. Before ending up in my coach, I read all the topics and make an effort to choose this issue which is relevant to my past study. After the subject has been chosen, I prepared and scheduled enough time and location to meet with my coach as well as organised the info to use inside our first getting together with.
Before the first assembly, I extensively research about the company I select for my job on the internet to ensure that the options because of this company can be found. From then on, I well prepared all the required documents, that have the chosen subject matter, aims and objectives, ratios and ways of information gathering of my project. Then I called the mentor to take an appointment and delivered the documents I prepared.
During the first reaching, as a first step, we reviewed about the documents that i delivered to her, and she suggested me to keep a diary to make our talk current. She also pointed out my weakness and discussed me how to use business models in which situation. She also recommended me to learn about information gathering techniques and data collecting methods as I intended to count on the internet much to collect data. She suggested me to visit City business collection to gather information proficiently.
From the first getting together with, I put learnt that I've some weakness in using business models and information gathering methods. I realised that I will use secondary data rather than primary data as they might be very difficult to find and take a lot of your time. I also realised that I will not rely on the internet too much as it is hard to share with that the information on web sites is reliable or not, therefore i decided to visit the collection frequently.
After the first assembly, as my mentor mentioned, I seen to the town Business Collection and downloaded the business enterprise and financial information from Datamonitor, for both Yahoo Inc. and Yahoo Inc. Then I read through the reports of both companies. I also read ACCA text message books and other relevant books to enhance my knowledge. With the use of Microsoft Excel, I drew financial ratios for three years for both companies and managed to finish Income statement and Financial Position and SWOT and Porter's five forces, draft examination of my task. During research, I mentioned which area I had a need to improve and what question should I ask to my coach. THEREFORE I realised that how self- evaluation is very useful and effective in doing research.
Prior to second getting together with, I emailed my RAP to my mentor and organised documents for the getting together with.
At second reaching, we reviewed about my draft examination and my mentor pointed out some problems on my research. She also explained the value of bettering the critical research skill. This time around, my mentor was quite thrilled about the improvement of my information gathering skill. However, my coach was critical on my referencing and citations when i had having less references in a few elements of my project. Then, I asked her what I must prepare for next reaching.
After the second meeting, I had developed learned that I still needed to improve in appropriate referencing and possessed some weakness in research skill. As my mentor had explained me the value of critical research skill, I attempted to read literature relevant to analysing skill to improve in this field. Alternatively, I found it difficult to manage the time when i was studying for ACCA examinations as well. So I was bothered that I could not finish on time.
I realised that third appointment was very important for me as this might be the last meeting for all of us. So, I edited some elements of my research which my coach talked about, and I had made sure to end every part of the project by verifying from the beginning to the conclusion, as well as the correct referencing. From then on I started to prepare factors for the demonstration with Microsoft Powerpoint and read some literature to improve my presentation.
Before the meeting, I dispatched my job and presentation slides to my mentor, and also I stored a duplicate of demonstration slides at home to apply as my mentor suggested. Although I ready carefully for my demonstration, I got quite anxious when doing the display. I had formed experienced that good display skill is very critical for my future profession. And I also found that taking feedbacks from others is also important to finish a project properly.
Although I was satisfied with my whole job, I had not been pleased with the depth of the answers to the research questions since I had formed made a decision to use extra data alternatively than primary data because of the time and fund limitations. If I had been able to collect principal data, I would have been able to analyze more insightfully and acquire more balanced point of view by using both key and extra data.
As the company's Annual article was my primary data, I had developed tried to address financial position predicated on information shown in financial claims. Despite the limits to gather company information, I had formed managed to collect all the information I necessary for my financial analysis by reading reports, literature and using internet. For non-financial analysis, I'd have had the opportunity to answer the research questions in more depth easily had to gain access to primary data such as inner audit information. However, I had formed were able to analysis the non-financial performance of the company by using secondary sources.
To meet up with the standards of the task, I used to be aware that I have to answer all the study questions carefully. Responding to my research question also mirrored the data of the work I had well prepared and developed the abilities to complete my project. Moreover, I needed gained questioning skills during undertaking project.
To write a meaningful and reasonable report, I put always attempted to use reliable resources to avoid unfair judgments. Choosing Yahoo for my RAP also offered a lot of resources to collect information. I thought that I got done productive ratio calculations to comprehend the situation of Google Inc comparing to Yahoo Inc. I also focused when analysing financial and non-financial data to ensure that they meet the purposes of RAP.
After concluding my task, I was able to find out more about the company than before. Moreover, I believe that the topic I select was right for me as I possibly could apply my academics knowledge to the project and help me increase my skills and activities.
Communication skills play vital role in our daily life, as how we connect to others can greatly have an effect on our professional and personal lives. Hence when ending up in my coach, I focused on whatever we were discussing and carefully paid attention to my mentor's feedbacks and recommendations.
Before each getting together with, I always composed down the questions I wanted to ask my coach. So I could save a lot of time when ending up in my coach. Also I tried to visit websites and reading books to improve my communication skills during executing project. AFTER I speak to my mentor, I always tried to speak obviously and precisely and my coach had no complications in understanding me. Therefore, I assume that I could communicate with my mentor effectively.
Effective communication skills include productive listening, compliment and encouragement, paraphrasing, questioning, reflecting, and non-verbal communication. (Central TB Department, n. d).
Listening skill is also essential when communicate with others. Through the first appointment, sometimes, I lost my concentrating when listening to my mentor. Therefore, I had fashioned to ask my coach to do it again what she just said and therefore misused our time. THEREFORE I realised that I need to pay more attention when my coach speaking and attempted to improve hearing skill by reading articles about effective listening skill. By hearing my mentor carefully and adopted her useful recommendations specifically helped me gain the confidence and led me to complete the task in time without troubles.
After all, these communication skills gained through the project period can help me in studies as well as in my own future profession.
Undertaking the study and Analysis Project (RAP) helped me improve my accounting knowledge through the use of ACCA accounting principles into true to life project and boost my interpersonal skills as well as project management skills which are crucial to own as an account.
First of most, I have seen the difference between making use of financial theory at examinations and making use of theory onto research study. For methods and exams, I have to use financial ratios to evaluate the case cases. However, time is bound so that I simply use the significant ratios which come to my mind and which seem to be to be appropriate based on my study tactics. In order to evaluate the financial performance of Yahoo Inc. , I need to think carefully what ratios are appropriate as well as for what reasons I have to apply those. By doing so, my understanding on accounting ratios rises and my thinking becomes more practical. Thus, for future accountancy studies, I believe that I can justify the exam scenarios more reasonably by analysing different perspectives.
Project management skill is one of the critical success factors for RAP. Without this, I am going to not be able to complete my task. If I didn't undertake this task, I'd not observe how important the job management skill is. I have learnt how to plan might work and manage time to finish each workload on time through lessons learnt and with help of my mentor. Increased in planning and time management skills would help not and then my review but also to might work. All might work performance has been significantly increased through planning beforehand.
Another skill I've gained from undertaking this task is communication skill. Being a volunteer accountant, I must package with my supervisor and colleague two days and nights a week. Personally i think that my communication skill has been improved and I am now able to discuss the subject areas and debate all possible solutions confidently at the conferences. Moreover, utilising demonstration idea, I could demonstrate things better and persuade them to simply accept my idea.
Eventually I have learnt how to build up a formal survey efficiently and effectively using Microsoft Office Phrase and Excel. Reporting and accountant cannot be separable as an accountant is an integral person to interpret all financial data into manageable information via management studies. This project illustrates my weakness in reporting skills and gives me a chance to improve those areas. Thus, I'd produce a good record for my future ACCA tests and completely to my job. Writing a report also raise the research and analytical skills.
In conclusion, I've achieved a number of skills by doing this research and evaluation job such as job management skill, communication skill and reporting skill. Those skills are useful for both academic and working life. Furthermore, I've clear understanding on the financial techniques of how to analyse the positioning of specific organisations.
Central TB Section, (n. d). Enhancing Interpersonal Communication Skills in RNTCP Training[Online].
Retrieved from: [Accessed 19 April 2010]