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¶ … knowledge and abilities in finance were improved dramatically. There were a number of different concepts covered in this course including aspects of both financial and managerial accounting. The latter I feel as been especially valuable to me. I can envision in my career as a manager. Consider the different uses of managerial accounting -- making financial decisions, strategic and operational planning and cost management (Owens, 2012). All of these areas were covered in the course. Throughout the course I always took time to see how each of these concepts could apply to my past and future managerial experience, and I could see these uses right away. I also think that the combination of the different concepts was very useful. For example, activity-based costing can be combined with contribution margin to make better determinations about pricing, and what products should be maintained in a business portfolio.
I think...
I found the subject matter engaging and I feel that this was reflected in the work. I could have improved, I think, in the first module about the different accounting systems. I know that since there is a convergence process underway between GAAP and IFRS I should be familiar with the different issues. However, as somebody more oriented to making managerial decisions, I feel that I am not as engaged by things like financial reporting issues. My focus maybe waned a bit there, and I think that is an area where I can improve in the future.
The big reason I took this course is because I think that the material covered can benefit me in the future. I believe that my managerial decision-making in particular can be improved. Thus, I think that my performance in the future can be measured in part by the improvements in my managerial decision making.…
Works Cited:
Owens, M. (2012). The uses of management accounting. eHow. Retrieved May 14, 2012 from http://www.ehow.com/about_5549234_uses-management-accounting.html
The Economist. (2009). Activity-based costing. The Economist. Retrieved May 14, 2012 from http://www.economist.com/node/13933812
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