Money Matters

In the second half of last year I completed a  ‘Financial and Managerial Accounting’ paper – the  second of four papers in the Post Graduate Certificate in Leadership that I am undertaking through University of Waikato. Although at post-graduate level, the financial concepts were covered at a basic level suitable for managers like me, who although they may have  some financial management experience and skills, do not have accounting qualifications or in-depth financial analysis knowledge.

Topics covered included taxation, depreciation, ratio analysis, reading financial statements and cost accounting. Group assignments involved completing a Financial Analysis and a Balanced Scorecard for an organisation of our choice. We chose BoPPoly for the former, and Waikato Students’ Union for the latter.

learning accounting... by rnav1234, on Flickr
Creative Commons Attribution-Noncommercial-No Derivative Works 2.0 Generic License  by  rnav1234 

This paper has developed my understanding of financial concepts which will be useful in my current role managing library and health services within in a tertiary institution.  I now read financial statements with more understanding, although my ratio analysis skills are still developing and I could do with more practice. I learnt that a financial analysis not only considers the financial health of an organisation but political, social and environmental factors too.

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