Week 8

 

Furthermore, my supervisor had also assigned me to do a research based on the key performance indicator (KPI) that is used to measure the performance of our account and finance department. To illustrate, every department in a company will have its own KPI to measure their own performance. For example, we can used the number of sales that our company made to measure the performance of the sales department. If the sales dapartment had made more sales as compared to last year, it means that they had improve their performance by putting more efforts to make the sale. However, we can used the measurements such as the time taken to match an invoice to a purchase order and the number of days we need to set up an account to measure the performance of the account department. As for the finance department, we will used the measurements such as the number of payroll errors per month and the percentage of error in budget predictions to measure the preformenace of the account department. However, I had also done some additional research online to look out for some methods that can be used to improve the efficiency of our account and finance department. After that, my supervisor had also assigned me to discuss my findings with other managers so that all of us can agree to work on a system that will measure and improve our job performance. However, I have faced a problem on implementing the system because my colleagues does not agree to used the system to measure their performance. Therefore, I will need to explain the advantages of implementing the system to them. Hence, it is important for each of everyone in the company to know how well we had performed and the methods we can adopt to improve our job performance. It is because a good company image will eventually helps our company to build a good reputation in the industry. Besides, I have also learnt some conflict resolution skills on implementing the system. In the future, I hope that I can make use of these skills to help the company to resolve a conflict as these conflicts will reduce the employees' work productivity. 

 

 

 

 

 

 

Moreover, my supervisor had also assigned me to do the fixed asset listing for the past four years based on the invoices that I had sort out in week two. Hence, I will need to construct a formula in the Microsoft Excel in order for me to do the fixed asset listing. The objective of doing the fixed asset listing is because we will need to send all these information to our auditor in the mid of April. Firstly, I will need to minus off the figure for the asset that we disposed on January because all these assets has spoilt already. Secondly, I will add in the figure for the disposal of asset into the total column so that both of these accounts will be written off. Thirdly, I will need to minus off the figure again for the asset that our company has disposed on December. Lastly, I will add in the figure for the disposal of asset in the depreciation column so that both of these accounts will be written off. Besides, I will also need to write on the descriptions and the quantity of fixed asset we have disposed on Microsoft Excel too. However, I had also faced a problem in constructing the fixed asset listing because I does not understand the basic concept of writing off the two accounts. Therefore, I had ask my colleague to teach me again on the process of doing the fixed asset listing. Then, I had try to do again by following the examples that my colleague showed me so that I can ensure the work that I had done is correct. Furthermore, I have also learnt that it is important for us to have a full understanding on the basic knowledge of accounting to perform a job. Hence, I will make good use of my knowledge that I have leant to pursue my ACCA course after I had gradurate.