BSc Accounting & Finance Assignment Sample 2024
1. Identification of skill as requiring improvement
1.1 Stating of the skill
The formative assessment on digital behaviour reflects the investment analytical skill and the draft clearly discusses the skill. The identified skills for development based on the case study is “Investment analytical skills”. Consideration of this skill can help in improving performances in the workplace and ensure professional development.
1.2 Explanation of its meaning
Investment analytical skill is the capability of an individual to identify and analyse a problem and to examine the relevant issues in the accounting and digital process. As stated by Bencheva, and Stoeva (2018 p.420), the skill is considered as one of the important skills in different fields and the skill also represents the ability to find a logical solution. Significantly, the skill is applied in digital marketing for detecting patterns, interpreting data, brainstorming ideas, integrating new information, making decisions, and synthesizing information.
1.3 Specific example of the kind of behaviour for skill demonstration
Investment analytical skills are crucial for the success of different sections in various industries. Besides, as cited by De Mauro et al. (2018 p.811), there are five key types of skills such as communication skills, creativity, thinking skills, data analysis, and research. The development of the five types is required to achieve an efficient investment analytical skill to assist in taking several decisions in accounting and digital processes.
2. Explanation of the importance of the skill
Investment analytical skill is important and essential in the accounting and digitalization process for taking several concrete decisions in a timely manner. The draft reflects the importance of the skill in the workplace for several reasons, based on the case study.
2.1 Reason of importance of the skill in the workplace
Investment analytical skill is significant as it allows the individual to identify solutions to different problems and assist in taking concrete decisions.
2.2 Detailed explanation of the reason
Investment analytical skills are important for several reasons like risk management, taking critical decisions, and identification of a problem. As opined by Kulkarni, Robles-Flores, and Popovič (2017 p.1), the skill is applied in several disciplines ranging from finance, data collection, marketing, project management to accounting, scientific research.
3. A practical plan for improvement
From the case study, the draft reflects a practical plan with techniques and justification in terms of the benefit of the organization.
| Practical techniques | Strategy | Duration |
| Observation of sales and marketing | Maximum focus in identifying important aspect in task and investment | 3 months |
| Engaging in teamwork | Assertive communication | 2 months |
Table 1: Plan for improvement
(Source: Permana et al. 2019 p.7)
3.1 Practical techniques for improving the skill
Improvement of observation and analysis capabilities by providing maximum attention to professional development is the major practical technique for improvement of the skill. Maximum engagement with associated people and critical evaluation of investment and marketing performances can help in improving analytical skills significantly (Bencheva and Stoeva, 2018).
3.2 Justification in terms of the benefits of the employee and/or the organization
The development of analytical skills is highly beneficial for the employees for solving critical problems with smart techniques and logical reasoning. As cited by Permana et al. (2019 p.7), analytical skills can help and identify important areas of task and responsibility in the workplace for the development of planning. For example, the ability to analyse stock fluctuation and marketing performances can help in making advanced investment decisions for making a huge profit.
References
Bencheva, N. and Stoeva, T., 2018. Key skills and competences for social business advisors: views from experts. International Journal of Organizational Leadership, 7, pp.413-425. Available through: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3337640 [Accessed: 4th June, 2021]
De Mauro, A., Greco, M., Grimaldi, M. and Ritala, P., 2018. Human resources for Big Data professions: A systematic classification of job roles and required skill sets. Information Processing & Management, 54(5), pp.807-817. Available through: https://www.sciencedirect.com/science/article/pii/S0306457317300018 [Accessed: 7th June, 2021]
Kulkarni, U., Robles-Flores, J.A. and Popovič, A., 2017. Business intelligence capability: The effect of top management and the mediating roles of user participation and analytical decision making orientation. Journal of the Association for Information Systems, 18(7), p.1. Available through: https://aisel.aisnet.org/jais/vol18/iss7/1/ [Accessed: 3rd June, 2021]
Permana, T.I., Hindun, I., Rofi’ah, N.L. and Azizah, A.S.N., 2019. Critical thinking skills: The academic ability, mastering concepts, and analytical skill of undergraduate students. JPBI (Jurnal Pendidikan Biologi Indonesia), 5(1), pp.1-8. Available through: http://eprints.umm.ac.id/46321/ [Accessed: 5th June, 2021]
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