Purpose: The Individual Reflective Journal is to ensure each student can contribute to document a critical reflection of their personal learning process, as experienced during this unit. It will be...

Accounting
Student Name:
Unit Name:
University Name:
Date:
Contents
Introduction    3
Cost Accounting Information:    4
Cost Accounting Information in Decision Making:    5
References    8
Introduction
Without a doubt, accounting has played an important part in the business arena. With no accounting system, no company can identify its expenses and revenues and recognize where its fiscal position is. Accounting system can also provides valuable information for wise decision making. With that in mind, I choose accounting like my major, taking into account the difficulties I face as well as the expertise I require to build up in my job, and given greater job availability and incentive rewards. I am familiar with principles of accounting, moreover have built up my skill from understanding the basics of the financial accounting and management accounting to much advanced homework in the cost accounting as well as accounting systems. In particular, this program has been very helpful in budding the skills needed to succeed in my present job as an accountant. But workload and appropriateness were important issues for me. Therefore, innovative technology tools need to be implemented to increase flexibility and competence by decreasing human error and giving real-time results. To that end, the implementation of some specialized accounting software is being considered. In addition, statistical knowledge for example collecting data along with creating diagrams and graphs is required for effectual presentations. Writing and verbal skills are also crucial for good communication with others. Fortunately, I found a course that would help out in my career. Elementary info organizes data collection as well as calculation methods. The basics of the speech communication plus English composition course enhanced my writing and communication skills. In particular, the Information Systems Overview integrates the entire functions and departments across the organization into the solo IT system, allowing employees to view and make decisions about the entire enterprise for all business operations. As entertaining and rewarding as accounting, I have fix the objective of being promoted to the accounting manager, but this position may need the bachelor's degree in a speciality and experience in this area.
Cost control is one of the most important activities in an organization that influences a company's business functions. There is some debate suggesting that the cost control is another thing that is possibly to raise the bar for competitive advantage. The cost manageme9nt is often defined as the approach and activity of executives as well as high-level managers in the short-term and the long-term planning and management decisions to raise customer satisfaction and decrease production costs (Abdelraheem, Serajeldin and Jedo, 2017). Though, to achieve the desired outcomes, administrators required comparing actual business performance statistics and costs to intended budget performance to monitor...