Reflective Analysis and Development Plan
Industry outlook
My development plan is founded on where I am now, where I want to be and how I am going o get there. It is a reflection of my short-term and long-term goal, ambitions and consideration. Accounting is an important and integral part of public, private and the non-profit making organizations. It is a field that provides a wide range of careers and skills that focuses analyzing financial position of organizations while predicting and laying down strategies for growth (Crosson & Needles, 2008). The accounting work involves the preparation of financial reports and analysis of financial information in order to assess whether they are accurate, complete and comply with the procedural and reporting standards (Bendrey, Hussey & West, 2004). The accounting skills also involve the development, implementation, modification and documenting the various accounting and recordkeeping systems while utilizing the modern computer technology. It is also the function of accountant to report to the management about the financial position of the organization in which they are working (Occupational Information Network, n.d).
Accounting field requires a wide knowledge of accounting practices and principles, the economy, the financial, markets and banking. Knowledge on reporting and analyzing financial information is also a basic requirement in accounting. One has to be knowledgeable about the clerical work and be able to adopt the computer technology which is a necessary aspect in this filed. One must possess the active listening, mathematics, writing and critical thinking skills which are essential for appropriate questioning, problem solving, understanding documents, effective communication and identifying strength or weaknesses of various alternative solutions to problems. The field also requires one to have personal abilities which include mathematical reasoning, oral and written comprehension, deductive reasoning and number facility (Occupational Information Network, n.d). The work environment involves working full time with overtime hours being typical at various times of the year especially during the tax season or budget year end. Majority of the employers need a candidate to possess a bachelor’s degree in accounting or any related filed while a certification within a particular accounting filed enhances job prospects (Occupational Information Network, n.d). It is therefore important for one to become Certified Public Accountant. As per May 2015, the accountants’ annual median salary was about $67,190. There is a forecasted 11 percent growth in accountants’ employment in 2014-2024 periods which is faster than average of other occupations. The skills and services are needed across all industries and continued globalization of such businesses increase the demand for expertise in accounting. Individuals who have earned professional recognition – CPAs – have the best employment prospects or those who masters degree (United States Department of Labor, 2016).
SMART GOALS
Regardless of the industry, this professional development plan will be of great help to me in the achievement of accounting goals, advancing my career and attaining a high level of personal success and related satisfaction. I hope to be a professional in combining what I have learnt from the accounting theory and apply the skills to the real work environment. This will involve collaboration with various teams, finding solution to problems, cultivating and maintaining clients and developing leadership skills as the final agenda.
My major long-term goal involves becoming a director in a large organization within five years after completing my undergraduate education. The journey will involve undergoing at least four informational interviews in order to get a job that is related to the accounting filed. With my internship experience while working as an assistant Project Manager and as a clerk assistant, I aim to get an entry-level job as an accounting assistant or clerk and this will provide me with real-work experience in this filed. I will consider working for large local, international and government organizations so that I can obtain wide range of experience in accounting skills since such firms deal with large and different accounting information. In order position myself for fulltime position recruitment, I will start applying for interviews towards the final year of my final year. This will enable me to obtain a start date in the soonest time after graduation and thus take advantage of full-time vacancies in the fall. However, networking will be an important aspect of this process which will initially involve attending as many interviews or recruitments as possible. The aim is to learn more about, learn more about employers and the career opportunities they are offering, and through this, I will manage to network and be noticed. I will carry business cards so that such employers can remember who I am and may contact me from my card. Networking will also involve having real conversation with fellow students and employers and paying attention so as to showcase my interaction skills and then collect employer’s information so that I can stay in touch. For this objective to be achievable I intend to realistic by asking for information and not a job. For such an activity to beneficial, I intend to find a common ground while sharing ideas and information and ensure that I follow up the link a website or conferences that are relevant to discussion we have had.
After obtaining the entry-level job, I intend to advance on my technical skills so that to keep pace with a constantly changing industry. The plan involves taking further post-graduate courses which I can do as part-time. This will involve taking the CPA exams so that I can obtain the designation for Certified Public Accountant. I also intend to obtain an advanced degree which will assist in focusing the direction of where my accounting professional career to go. The plan will involve looking for recommendation for the various advanced degrees available. The admission strategy will involve taking part-time lessons especially during the weekends and evenings. As Chinese students I will have to consult the various agencies within the Washington D.C are who will assist in the identification of the various programs available for advanced degrees, the application process and the different recommended Universities offering the programs. The learning programs are intended to take a maximum of three and a half years after which I intend to concentrate fully on my work. This will help to keep focus on my long-term goal.
After completion of additional education, the plan will involve developing of my leadership kills in finance and development. This will involve working in team work and try to align team members, the accounting processes and resources that drive the results of the organization. The aim is to be an effective leader who will stand out which is achievable after considering why some leaders fail and how to avoid any potential pitfall that can lead to the failure. Familiarizing with the crucial purpose of team development can help in the development of an effective and high performance teams in any organization. Finance leadership skills involve ensuring that my fellow professionals are responding to the constantly changing organizational expectations, the financial markets and the clients who are part f the society being offered the services. Being continually engaged in communication with fellow accountants and stakeholders will be a major boost in imparting leadership skills since such a process involves providing solutions to the various financial accounting problems facing the organizations. Therefore, engaging with colleagues from all level of management will assist in learning the various leadership methods and styles applicable especially in financial matters.
The final part of the development plan will involve a monitoring or evaluation process. After identifying the goals and outlining the requirements for getting there, it is very important that I hold myself accountable. Tracking the progress will involve actual implementing the plan so that each day, a step is taken towards the end. My resume will be an important tool of reflecting what I have accomplished. My objective should align to the requirement of the higher positions that I want, and the philosophy of the organization. I intend to have scheduled conversations with my seniors about my goals and their views on my progress. To re-ignite progress, I will assess my progress by asking feedback from colleagues and supervisor especially on my performance. Through this, I will found what other think about my strengths and weaknesses and their suggestions on steps that could increase my value. Readjustment in terms of time and resources will be necessary to correct a situation where stray from the course of personal development.
References
United States Department of Labor,(2016). Bureau of Labor Statistics: Occupational Outlook Handbook, 2016-17 Edition, Accountants and Auditors. Available at: http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
Occupational Information Network (n.d).O-NET Online,Summary Report for:13-2011.01 – Accountants. Available at: http://www.onetonline.org/link/summary/13-2011.01
Crosson, S. V., & Needles, B. E. (2008). Managerial accounting. Boston, MA: Houghton Mifflin Co. 2-6
Bendrey, M., Hussey, R., & West, C. (2004). Essentials of financial accounting in business. London: Thomson Learning. 284
