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Performance Objective 1

Demonstrate the application of professional ethics, value and


judgment

My General Manager wanted to conceal increased cost of sales by
2.3% from Head office in the financial accounts for 6 Months. He
asked me to hide it and then divide and absorb it in next few
months to hide the impact. I did not agree on this and showed the
true and fair picture in Financial Reports.



What did you learn from this experience and how will it influence
your future behavior in the workplace?

If I would have acted upon on the order of General Manager and
decreased the cost of sale by 2.3%, it would be against my
professional ethics. This act would have built my false image and
expectation of others from me of doing such things in future as
well. To act ethically means choosing to do the things that you
know are right or good and avoiding those behaviors that are
wrong or bad in professional context.


What would have been the impact had you not behaved ethically in
this situation?

If I had not behaved ethically in this situation, this would be against
my professional ethics. This would be against the objectivity,
integrity and professional behavior, which I suppose to follow in all
situations. If I acted unethically it showed that I am a person who
does not have moral values and is not capable to work in
professional environment.


Professional Objective 2

Describe how in your role you have contributed toward effective
governance, provide at least two examples.

Establishing policies, to make significant and strategic decisions
and to oversee the organization activity, makes contribution
towards effective governance. As a professional Accountant my
involvement was toward evaluating and improving governance,
risk management, and internal control, which represent core
competences/capabilities of professional accountants.
Organizations can be assured that professional accountants are
able to contribute strongly in meeting organizational objectives in
these areas. I played an active role in ensuring that governance,
risk management, and internal control form an integral part of an
organizations overall management system. As professional
accountant I was also involved in the practice of external audits,
assurance providers, and business advisor Who provide
professional services that aim to promote more robust governance
arrangements .As an Accountant I prepare managements
performance reports or issue their own reports to the public to help
citizens, elected officials, and other community stakeholders with
valid, relevant and reliable data on a timely and accessible basis.
In doing so, the reports provide active citizens and elected officials
with the information they need to evaluate community conditions
and services.


In what ways did you make sure you acted in the best interests of
all concerned?

There are many standpoints on which I turn in the greatest interest
of all concerned. The first one is deontological principle; one has to
do what is right thats good in itself. The second reason what is
good is because of long-term advantage of it (Utilitarianism). I
expect to be treated well so I treat other people well. Acting
unethically is always a short-term view. So, I always consider an
ethical path, which is in the best interest of all concerned.



What negative impact(s) would have resulted if you had not acted
in the way you did?

I trust employees relations are more significant than ethical and
professional responsibilities as jobholder. Its easy to stand up to
an enemy but difficult when the other is friend and colleague. The
impact my action was that I gained trust of my seniors. (Back
ground a colleague wanted favor as regard to a mistake)



Professional Objectives 3

What experience have you had in dealing with non-financial risk?

Finance function has been stretched to every part of the
organization, gathering information from every part and thus has
view of entire company. This allows and encourages the pan-
organizational view central to any embracing risk management
approach. I have been part of risk valuation process and assessed
market risk, strategic risk, IT risk. I got professional advice from
concerning experts and identify critical points in each area. I have
created retrieval plans for IT, Health & safety, compliance, security
and management of crises and disasters.


Using an experience in your workplace explain how have you
ensured that the risk was correctly dealt with?

I have identified Data loss risk in IT risk assessment. I have
referred with IT specialists within my organization and
recommended my organization about my outcomes and solution.
As per my proposal we have created policy that every day back up
tape must be replaced and should be kept in fire resistant safe or
away from the building. So in the event of fire we will not lose our
data and business information. I have confirmed it is happening on
daily basis through log forms and IT Audit. Another just a current
example is I have measured business discontinuity risk and
destruction risk due to Political Riots. I have asked our insurance
company to offer insurance for loss in case of Riots.


How did your organization benefit from your actions?

Proper risk assessment plays vital role in any organization.
Through risk assessment, my organization was able to control and
minimize risks such as compliance, health and safety, employee
turnover, IT disaster, discontinuity of business..


Performance Objective 4

What have you learned about how you work as an individual?

An individual should follow professional code of ethics at work. I
have learned I should work with professional competence and due
care, I should be objective, I should not disclose confidentiality. My
behavior should be professional and I should work with integrity.
Moreover I am getting feedback from my mentors on my work and
I also contribute in company appraisals and career development
plans.


How have you changed your behaviour or approach in the
workplace as a result of what you have learned?

I have been following ACCA code of conduct in my workplace as a
result I have been seen as professional and objective professional.
I have been improving also since I have started evaluating my
appraisals and commenced following my career development
plans.


How has this helped improve work outputs or business results in
your area?

My managers were more than satisfied with my performance and
work done by me as they considered me more reliable in the future
projects and I was allocated with the assignments that are possible
to be more information sensitive and highly confidential.


Performance Objectives 5

Describe situations where you have effectively demonstrated each
of the forms of communication mentioned

I have presented Budget to Management. I have exhibited my
communication skills by describing financial data to non-financial
people. I have listened/learned all the questions carefully and then
answer in most suitable method, which was easy to apprehend for
non-financial people.



What did you do to help communicate effectively?

My Counselors at my work place assisted me communicate
effectually. Furthermore I have done part time English Language
courses from British Council and also passed IELTS (English
language test). Further it has improved my communication skills
that also aided in my job more effectively and enable me to
understand my seniors, colleagues, subordinates and other
stakeholders in the way to understand them what my job requires
and what is the legitimate output actually.


How have your communication skills helped you to improve your
performance elsewhere?

Improved communication skills allow me to ask questions openly
from my ACCA teachers. Also it aided me to propagate in my
career and improved my professional relations with all the
stakeholders of my company.

Performance Objective 6


Describe your experience of using information technology

I am using IT in my daily work life. I have worked on several
accounting and business packages such as SAP, SUN, Sage,
Opera Revenue Management System, Iscala, Tally, and Sage
Line. I am generating Financial Models in Excel and these are very
supportive in making business decisions. I have done Adobe
Photoshop Course from Aptech Bahrain in 2013 and financial
modeling curse to improve my Excel and financial modeling skills.


How have you applied your IT skills to improve your personal
performance?

I am applying my IT skills to improve my personal performance
everyday basis. I have generated Financial Models for business
forecasting and analysis, which allows me to make business
decisions quickly and effectively. I am using IT accounting and
business packages which make my life easy, paying supplier on
time, chasing my debtors as per terms, calculate benefits/payroll
for employees collectively, and maintain company records timely
and effectively. I can perform my tasks rapidly so I get time, which
I can utilize to learn new skills.


How has your IT skills and associated improved performance
benefited the wider organisation?

My IT skills are making my job relaxed, which effects on my
departmental and organizational performance. My IT skills help me
to make decision quickly, which directly benefit organization.

Performance Objectives 7

Describe how you have managed the ongoing (business as usual)
activities in your role.

Training and delegation - I believe in training and motivating
people. I invest my time in training the skills, which I have, and
then I delegate my tasks to my team members. This way I get time
to work more carefully on critical areas and learn new skills. I have
also trained operational Managers in finance i.e. Budgeting and
forecasting and reading P&L, controlling costs in their concerning
areas, resulting in they do all the forecast and budget for their
departments and send to me for review. Communication: I have
made improvement to communication within department and
communication with other departments and with business partners
(suppliers, customers, shareholders etc.). Professional Ethics- I
am professional accountant and according to my ACCA code of
conduct I always control my ongoing activities with guideline
provided by my professional body and within professional ethics.
Research on Activities- I always research on daily tasks how other
organizations within my industry and sister companies are doing
these. I continuously attempted to make speedier but controlled
system.


Explain where you have recommended your own approach to
managing ongoing activities to others and why

I have freshly recommended my current organization concerning
staffing, financial reporting, communication to and from finance
department and applying new policies and processes. My
approach is based on to simplify activities but with improved
controls, improving communication, improving document control
system, improve IT infrastructure, and building good team with
training and development.



How does you approach to managing your activities contribute to
organization performance?

My organization performance has been improved with my
suggested approach. Our payroll cost has been reduced by idea of
training and developing people and multi tasking. My organization
is ordering, purchasing, payment process is faster now as I have
researched in market and bought Material Control System, so we
can approve Purchase Orders electronically which save time also
control inventory, stores and costing more effectively.

Performance Objectives 8


Describe an occasion when you have identified an opportunity to
improve departmental performance.

As a manager I had three supervisors working as my immediate
subordinates and large portfolio of clients and other assignments,
which regularly added to the workload. At the time there was
allocation of work among supervisors was random and based on
good terms with senior management. I decided to change the
structure and through support of senior management allocated
clients to the three supervisors. The allocation was done through
consultation and in a fair manner to avoid grievances among the
supervisors. Each supervisor was made responsible for the clients
allocated to him. In this way they became aware of their
obligations and were able to plan their work in much better manner
than before.



How did you contribute to developing the opportunity for
improvement?

The modification I brought in the lower organizational structure
brought remarkable change in the work environment. Inter
departmental competitions ended as work was allocated in
infringement by one supervisor in the work of other ended. This
resulted in increased performance.


Was this opportunity fully successful, why was this? If not, why
not?

The change was not only appreciated internally but clients as well
they were clear who is responsible for their work. It also
streamlined operations and my capability to handle the jobs in
hand.


Performance Objectives 9

Describe your role in managing a discrete assignment

I always obey step-by-step methodology for managing a job. The
steps, which I learned from my ACCA studies and through
experience. I make critical path for the assignment in Microsoft
Projects and asses the duration of each task and identify the task
which are core to the project and can delay the project if get
delayed. I assign tasks to my team and review performance by
marking off the critical path for each task completed. I keep a
contact with clients personnel so that I am aware of their
requirements and keep them to up to date of the work being
performed. I also involve senior management in every step to have
their support which very important for any job.


How did you apply learning from your day-to-day role in this
assignment?

My day-to-day handling methodology is also similar as I delegate
the work to relevant personnel and as manager guarantees
effectiveness and efficiency of work. I make sure before handing
over the task to team member that they have competency and
experience in the area task has been assigned. Also I use my
ACCA professional knowledge at every step.



What did you learn from the assignment that will help you in your
day-to-day role?

I learnt that systematic and preplanned steps, keeping all
stakeholders on board are the key to successful completion of the
job/assignment. I also learn from my colleagues working on the
project regarding other areas (i.e. IT, Sales & Marketing, Human
Resources). Each assignment gives me more knowledge and
experience in various areas of finance and business. These skills, I
am using in my day-to-day work enhances my performance.


Performance Objective 11


Outline your contribution to interpreting financial transactions or
financial statements

My contribution in interpreting the financial transaction or financial
statements is to analyze and interpret the economic nature of
transactions and the overall financial performance and position of
an entity. It includes evaluation of financial information by using the
key financial ratios. Interpretations is performed by selection,
evaluation and anlysation of financial data, along with other
information in order to assess the performance by using the ratios
like liquidity, profitability, activity, financial leverage, shareholder,
return on investment etc.


How has this interpretation helped your department or
organization?

This interpretation helped the organization in the decision-making.
Also it is advantageous in advising investors, shareholders,
creditors and potential stakeholder of the organization.
Furthermore, my financial interpretations helped my organization
evaluating business growth, working capital management, and
worthiness of potential customer and liquidity of organization. In
addition, my financial interpretations are very helpful for
management in making decision regarding investments, new
projects and new products.



What business decisions have or could be made based on this
interpretation?

The major business decision taken which were based on this
interpretation included but not restricted towards the different
departments of the organization in well-informed decisions and
reasonable forecasts. Uses of ratio analysis vary from creating
common size accounting statements to determining the business s
inventory turnover or tracking the success of a marketing
campaign over time. Standard ratios are used for different
departments to accomplish specific tasks. Even though the use of
ratio analysis important for a business when making decisions,
there are also limitations of using such ratios. Uses of ratio
analysis include breaking data down so that it can be compared.
When comparing two sets of data, ratios can help bring the
numbers to equivalent figures. For instance, if the business wants
to compare its monthly cost of goods sold for the past year, it
should not look at the raw numbers. Instead, the business should
calculate the cost of goods sold as a percentage of the total sales
in order to determine if costs truly have increased or decreased.
Making forecasts is another use of ratio analysis. Comparing ratios
over time can help business make reasonable predictions about
what it should expect in the future if conditions remain the same or
similar. Breaking data down to ratios and comparing the ratios over
time also can help businesses see if trends or cycles emerge.

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