ACC345 Week 3 Discussion 2
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University Of Arizona *
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345
Subject
Finance
Date
Feb 20, 2024
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docx
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Uploaded by ChancellorRainPony29
Prior to beginning work on this discussion forum, read Chapters 8 and 9 of the text, and read
The 4 Finance Skills Every Leader Needs No Matter Their Industry
Links to an external site.
article.
Write:
Review the four leadership skills presented in
The 4 Finance Skills Every Leader Needs No Matter Their Industry
Links to an external site.
article and discuss the skills needed in each area and how your skills compare. Which of these skills is more important in the company you presently work for? Make sure your post is more than 200 words and that you include a brief
quote or paraphrase the article or reading material where appropriate (see the Writing Center’s
Quoting, Paraphrasing, & Summarizing
Links to an external site.
guide for assistance with in-text citations).
The four finance skills that every leader needs are understanding financial statements, ratio analysis, cash flow management, and forecasting.
An understanding of financial statements: You may make smarter business decisions and obtain a more comprehensive understanding of your organization's financial situation by comprehending the information presented in financial statements.
Ratio analysis: There are multiple ratios that are available to aid in examining the metrics. By having a thorough understanding of ratios, you can identify the advantages and disadvantages of your company and make changes that will improve its financial performance going forward.
Cash Flow Management: Cash flow management requires an understanding of how each piece of data may be used to track cash and promote growth in your business.
Forecasting: By giving you a detailed analysis of how your business should use its resources, forecasting helps you make more strategic decisions on a daily basis.
Out of the four financial skills I need for my current job, forecasting is the most beneficial. As mentioned, I am a warehouse worker.
Forecasting would help the business determine which sectors require more financing and which require less by allowing it to more thoroughly examine the money used for daily operations. The business can make better use of its
resources and avoid failure by employing the skill of forecasting.
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Related Questions
GP
You
Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.
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Write an essay of the new roles of management accountants in accommodating to the current and
future business environment premised on digital economy and beyond. The essay should outline,
explain, and analyse the business environment within which management accountants would be
adapting, and how they (i.e. management accountants) would be positioning themselves in the
future.
In writing your essay, please observe that you need to write between 500 to 750 words
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Finance 500
In this assignment, the purpose is to tie into the key concepts and insights studied this term in this course. Reflecting on key principles, strategies, or tactics that were covered from the accounting and finance fields, students should relate the information to their career, company or industry of interest.
Demonstrate how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment (a project manager in design industry).
Share a personal connection that identifies specific knowledge and theories from this course.
Demonstrate a connection to your current work environment.
You should NOT, provide an overview of the assignments assigned in the course. The assignment asks that you reflect how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.
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Please provide atleast 500 words
As a financial consultant, recommend to your corporate customer of internal hedging strategies through leading and lagging. Prove your recommendation with example.
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The knowledge, skills, and abilities of a financial leader are wide-ranging, from budgeting to policy review to motivating employees. List in order of importance what you believe are the top five (5) skills required from a financial leader. Explain your reasoning for each.
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Write an essay about the emerging roles of management accountants in today's and tomorrow's corporate environments, based on the digital economy and beyond. The essay should describe, explain, and evaluate the business environment to which management accountants must adapt, as well as how they (management accountants) will position themselves in the future. Please keep in mind that your essay should be between 500 and 750 words long.
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What Financial Perspective Objectives and Initiatives should I develop when the 3 preceeding perspectives are as follows:CustomerCustomer Satisfaction: Achieve high customer satisfaction scores by ensuring a consistent pattern of positive customer experiences at all customer touchpoints whether person to person, through voice communication, text messages, or over the internet.Internal Business ProcessDraw customers to our channels and streamline the fulfillment process to improve service speed and accuracy.Learning and GrowthDevelop a competent and motivated workforce to drive a customer-centric culture
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Discuss the following topic(s) in the forum and submit proof of your participation in the online discussions:
What are the qualitative factors that analysts should consider when evaluating a company’s likely future financial performance? Explain.
Discuss the importance of socially responsible investment (SRI) and how it adds value to investors.
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select a “start-up” company in an industry of your choice and provide a brief summary description of the start-up company you chose and the goods or services it provides. 1. As a start-up company, identify three Credit Risks the company currently faces today or could face in the future. Explain in detail why these risks are a threat to the company. 2. What advice would you give to the CEO of the company to prevent or minimize these credit risks?
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Recommended Implementation Process
Please do the following:
Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career.
Use the Internet or Strayer University Library databases and Internet, to select and review a firm that has multiple lines of businesses. For example, review the FedEx Corporation to see how it is a multiple-line business organization.
You reviewed the FedEx Corporation's 2019 annual report and focused on the detailed accounting information. In this week's reading, Lin demonstrates that successful implementation of the shipping company's financial accounting information management systems must go through three steps; implementation of management system module; implementation of financial accounting function; and implementation of management accounting function.
Review the recommended implementation suggested by Lin in Design and Implementation of…
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A career as a CFO offers a wide range of possibilities for the types of industries and companies you can work for. It also offers opportunities to not only manage a company's finances at the highest level, but to contribute to other areas as well. Review these three (3) case studies of CFO daily responsibilities.https://www.investopedia.com/articles/professionals/051713/day-life-cfo.asp
Which CFO’s responsibilities appear to pose the greatest day-to-day challenges? Why? How does that CFO’s responsibility of financial planning, budgeting, and strategy play a role in their daily responsibilities?
arrow_forward
In the future as part of hospitality and tourism industry professionals, how does financial management contributes to organization and one’s career growth? Cite one significant example from each.
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PROMOTING MYSELF (Chapter 8)• Create an outline for each of the following promotional strategies you plan to use as you begin your career. o Advertising: What does your resume look like? What does it say about you? Also consider what your social media profile says about you. If a prospective employer were to look at your Facebook, LinkedIn, or Twitter profile, would they like what they saw? Would it reflect the image of a thoughtful, driven professional?o Sales Promotion: Do the companies you want to work for offer unpaid internships? If so, how do you go about applying for them? How can you adjust your personal financial situation to take an unpaid internship if it helps to advance your career?o Personal-Selling: What will you say in an interview that will convince a prospective employer that he or she is better off with you than without you?o Public Relations: What do your colleagues think about you? Would your professors or classmates recommend you? Think about what you can do to…
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Analysse how ethical business practices and corporate social responsibility initiatives can contribute to long term
sustanable economic development. Provide examples of how your workplace, or an organisation of your choice, can
successfully integrates ethics, CSI and CSR into its current business model. Discuss the impact this will have on its
financial performace and reputation.
arrow_forward
Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant.Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource.
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Need help with Part 1 and 2 please.
arrow_forward
Directions:
1. Read and analyze the given scenario.
2. With the goal and role of financial management in business in mind, determine whether the project
should be continued or abandoned. Use the following facts and figures below as your reference.
3. Present your recommendation and explain the reasons in 4-6 sentences.
4. Write your answer on the blanks provided.
Company A accepts a project to create a Learning Management System (LMS) for a big client. This
company also creates and produces online training materials such as digital videos and ebooks. The LMS
project itself has a projected revenue of $850,000. So far, the expenses amounting to $600,000 have
been incurred by Company A on the project. This is way beyond the allocated budget. Due to this, the
management contemplates on whether the project should still be continued.
1. Customized Software/Program Already purchased for $80,000 (apart from the $600,000 mentioned
above), this software cannot be used for any other products of…
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Write 3 SMART goals on how you will be evaluated on your work as a Management accountant/Accounting Manager.
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Write 3 SMART goals on how you will be evaluated on your work as an Accounting Associate
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SEE MORE QUESTIONS
Recommended textbooks for you
Pkg Acc Infor Systems MS VISIO CD
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ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Principles of Accounting Volume 2
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ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Related Questions
- GP You Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.arrow_forwardWrite an essay of the new roles of management accountants in accommodating to the current and future business environment premised on digital economy and beyond. The essay should outline, explain, and analyse the business environment within which management accountants would be adapting, and how they (i.e. management accountants) would be positioning themselves in the future. In writing your essay, please observe that you need to write between 500 to 750 wordsarrow_forwardFinance 500 In this assignment, the purpose is to tie into the key concepts and insights studied this term in this course. Reflecting on key principles, strategies, or tactics that were covered from the accounting and finance fields, students should relate the information to their career, company or industry of interest. Demonstrate how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment (a project manager in design industry). Share a personal connection that identifies specific knowledge and theories from this course. Demonstrate a connection to your current work environment. You should NOT, provide an overview of the assignments assigned in the course. The assignment asks that you reflect how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.arrow_forward
- Please provide atleast 500 words As a financial consultant, recommend to your corporate customer of internal hedging strategies through leading and lagging. Prove your recommendation with example.arrow_forwardThe knowledge, skills, and abilities of a financial leader are wide-ranging, from budgeting to policy review to motivating employees. List in order of importance what you believe are the top five (5) skills required from a financial leader. Explain your reasoning for each.arrow_forwardWrite an essay about the emerging roles of management accountants in today's and tomorrow's corporate environments, based on the digital economy and beyond. The essay should describe, explain, and evaluate the business environment to which management accountants must adapt, as well as how they (management accountants) will position themselves in the future. Please keep in mind that your essay should be between 500 and 750 words long.arrow_forward
- What Financial Perspective Objectives and Initiatives should I develop when the 3 preceeding perspectives are as follows:CustomerCustomer Satisfaction: Achieve high customer satisfaction scores by ensuring a consistent pattern of positive customer experiences at all customer touchpoints whether person to person, through voice communication, text messages, or over the internet.Internal Business ProcessDraw customers to our channels and streamline the fulfillment process to improve service speed and accuracy.Learning and GrowthDevelop a competent and motivated workforce to drive a customer-centric culturearrow_forwardDiscuss the following topic(s) in the forum and submit proof of your participation in the online discussions: What are the qualitative factors that analysts should consider when evaluating a company’s likely future financial performance? Explain. Discuss the importance of socially responsible investment (SRI) and how it adds value to investors.arrow_forwardselect a “start-up” company in an industry of your choice and provide a brief summary description of the start-up company you chose and the goods or services it provides. 1. As a start-up company, identify three Credit Risks the company currently faces today or could face in the future. Explain in detail why these risks are a threat to the company. 2. What advice would you give to the CEO of the company to prevent or minimize these credit risks?arrow_forward
- Recommended Implementation Process Please do the following: Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career. Use the Internet or Strayer University Library databases and Internet, to select and review a firm that has multiple lines of businesses. For example, review the FedEx Corporation to see how it is a multiple-line business organization. You reviewed the FedEx Corporation's 2019 annual report and focused on the detailed accounting information. In this week's reading, Lin demonstrates that successful implementation of the shipping company's financial accounting information management systems must go through three steps; implementation of management system module; implementation of financial accounting function; and implementation of management accounting function. Review the recommended implementation suggested by Lin in Design and Implementation of…arrow_forwardA career as a CFO offers a wide range of possibilities for the types of industries and companies you can work for. It also offers opportunities to not only manage a company's finances at the highest level, but to contribute to other areas as well. Review these three (3) case studies of CFO daily responsibilities.https://www.investopedia.com/articles/professionals/051713/day-life-cfo.asp Which CFO’s responsibilities appear to pose the greatest day-to-day challenges? Why? How does that CFO’s responsibility of financial planning, budgeting, and strategy play a role in their daily responsibilities?arrow_forwardIn the future as part of hospitality and tourism industry professionals, how does financial management contributes to organization and one’s career growth? Cite one significant example from each.arrow_forward
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SEE MORE QUESTIONS
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Recommended textbooks for you
- Pkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE LPrinciples of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College