Reflection And Analysis Of Financial Accounting - 1983 Words

Reflection and Analysis Academic Preparation Throughout my first two years at Wilfrid Laurier University, a few courses have aided my time at Chan Co. Primarily in BU127, BU247, and BU283. These courses are Introduction to Financial Accounting, Managerial Accounting, and Financial Management I respectively. Introduction to Financial Accounting has taught me the basic accounting principles and concepts as a student who did not take any accounting in high school. This was my first time being exposed to accounting, which is very different from mathematics. I learned what financial statements were, balance sheets, and cash flows. I practiced bank reconciliation’s, learning what accruals were and several key principles. This course†¦show more content†¦Although my other courses such as Managerial Accounting and Financial Management were not as prevalent in my work, there were subtleties in their workplace transition, but I did see how a few concepts were used in my time here. Managerial Accounting was used whenever I did reasonability tests. I would calculate their margins and see if they were similar to prior years based on their sales to materials purchased ratios. It was similar to performing which construction method was most efficient. I also used the investment knowledge I learned from Financial Management in bookkeeping and analyzing a company’s investment schedule. There were some companies that liked to sell or short put/hold options. These concepts were taught in Financial Management. We were also heavily focused on using Microsoft Excel for this course and using Lotus spreadsheet software was highly transferable. Although not many complex functions were used, just being able to create a well-presented working paper was helpful. Knowing how to transpose or create proper copy and paste functions to ensure accuracy was key, which I learned the hard way with many incorrect functions pasted. The course also helped with reading the bank statements on GIC investments or car lease rates. On one occasion I had to check the lease to determine if it was a capital lease or not, where I had toShow MoreRelatedJournal on Financial Ratio Analysis1157 Words   |  5 PagesSession 15: Limitation of Ratio Analysis Learning Objective Explain to the participants on the limitation of ratio analysis. Important Termss Creative accounting. Accounting Policies. Limitations of Ratios Accounting Information Different Accounting Policies The choices of accounting policies may distort inter company comparisons. Example IAS 16 allows valuation of assets to be based on either revalued amount or at depreciated historical cost. The business may opt not to revalueRead MoreEssay about How I Became the Successful Person I Am945 Words   |  4 Pagesinvention I received a patent for. 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