A Retrospect on Lessons in Accounting: What Has Been Learned

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A Retrospect on Lessons in Accounting: What Has Been Learned

At first glance, the work of a quality assurance team member has little to do with accounting and finances. However, a closer look at the daily routine of a member of the Quality Assurance team at the Sikorsky Aircraft Company will show that my job, in fact, incorporates a range of elements that are traditionally referred to the domain of accounting and finances. Though already knowing the basic accounting procedures before starting the course, I have acquired a huge experience in accounting at a more advanced level, which will allow me in the future to deliver better results at Sikorsky Aircraft.

The course allowed for identifying the solutions to some of the most complicated financial issues that may arise in the process of an audit. There is no secret that the process of checking the quality of aircrafts may reveal major inconsistencies with the existing quality standards. As a result, the necessity to check whether the financial resources provided for the acquisition of the necessary raw material and supplies have been utilized properly arises.

Another example of the use of the information, which I have learned over the course specified, the utilization of cost analysis tests should be mentioned. As a member of the quality assurance team at the Sikorsky Aircraft Company, I often have to evaluate the costs that have been taken and compare them to the ones that the company would have supposedly taken if other types of materials, supplies and methods of transportation had been chosen.

Consequently, it becomes possible for me to determine the options that the company will benefit from most once I adopt the Overhead costs and volume variance calculations to the analysis of costs (Baker and Baker Estimates, Benchmarking, and Other Measurement Tools 219), as well as actual costs and budget variance analysis, to the overall assessment of the financial policy of the company. By correlating the costs and the quality of the final product, I will be able to design the strategy for resources utilization (Baker and Baker Understanding Investment Terms 231), which will allow the Sikorsky Aircraft Company to benefit greatly and witness an impressive increase in tits net revenue.

More to the point, the information that I have learned can be used in my future career. With the skills of a quality assurance specialist and the ability to carry out basic accounting calculations, I will be able to define a new method of improving a companys performance based on new methods of enhancing security of the companys products and, thus, enhancing safety of the customers.

Despite being aware of the basic accounting processes in the Sikorsky Aircraft Company due to audits, which are to be based on accounting reports, during this course, I learned a lot of information that will help me rationalize my work.

Even though my job may not involve the necessity to file all accounting reports, I still have to do with a number of those in order to carry out audits properly. Now that I know the mechanics of accounting and am capable of carrying out the key calculations, I will be able to improve the audit process a few notches. Being equipped with new and important knowledge, I will be able to make a difference in quality assurance and make Sikorskys products safer and more efficient.

Works Cited

Baker, Judith R. and Richard W. Baker. Estimates, Benchmarking, and Other Measurement Tools. Health Care Finance: Basic Tools for Nonfinancial Managers with Access Code. 4th ed. New York, NY: Jones and Bartlett Publishers. 2014. 215224. Print.

. Understanding Investment Terms. Health Care Finance: Basic Tools for Nonfinancial Managers with Access Code. 4th ed. New York, NY: Jones and Bartlett Publishers. 2014. 225234. Print.

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