Accounting Personal Review Essay

Name: Nguyen Thuc Ngan

Review assignment: Accounting

Through the basics course of accounting, I would like to sum up the point that I can learn through course.

In the first place, I can learn how to get used to financial figures that I haven’t known about it. I can learn how to image the business activities, how to be familiar with financial statement in order to know more about operation of the company. In the second place, I can understand the situation of business activities through balance sheet and cash flow statement. I can imagine about the cash flow of the company, how I can manage the cash flow smoothly in order to manage my company and generate the profit for company. I think that it is worth to understand them because they can give me invaluable information for business decision related to profit and loss of company. In the third place, I can learn how to read financial ratio analysis to make decision. From that kind of learning, I can read from the analysis that what the firm lacks and where the firm can improve and I can use financial  ratio to make investment decision. I think through case study, it help me a lot how to deal with business decision. In the fourth place, I can learn how to generate minimum sale to generate profit through break-even analysis. I think it is very important because it is vital for company to decide the target sale they need to generate profit and to run company smoothly. Besides, I think it very important for company to make decision in the future. Finally, through the course, I can learn how to build financial projection based on company’s strategy. I think it is very effective for business decision because for a company to run smoothly, company must need to build a concrete financial plan to run business and manage business effectively, they must give a target in sale or target profit to achieve,  on the way to achieve, they can revise the strategy based on figures of  financial projection the current situation. Having a better financial projection, I think that we can manage effective cash flow, smooth resource allocation and more important I think that we can avoid unwilling issues incurred such as the lack in cash to run business activities ….

In conclusion, I think it is very important for business manager to know deeply about their business through figures reflected on balance sheet and income statement. The manager can decide what is the best for their company based on figures at the current time to run their business more effectively and to generate the maximum profit.