Professional Relevance Essay.docx - Running head ACC 201 PROFESSIONAL RELEVANCE ESSAY ACC 201 Final Project II Professional Relevance Essay Chantel

Professional Relevance Essay.docx - Running head ACC 201...

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Running head: ACC 201 PROFESSIONAL RELEVANCE ESSAY ACC 201 Final Project II: Professional Relevance Essay Chantel Issonda Southern New Hampshire University
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ACC 201 PROFESSIONAL RELEVANCE ESSAY 2 Presently I work for global Consumer Packaged Goods (CPG) company at their US headquarters as part of the Consumer Service, Quality Assurance and Research and Development Team. I am in a senior associate role and plan of moving up within the same company into a leadership role in the future. Currently financial accounting plays no role in my day-to-day professional life but I do expect this to change when I move into a management role. Although it may not be a large part of my daily role it would be something that I am working with weekly. I would have a budget that I will be responsible for and will need to approve transactions within my department such as purchases and time cards and will need to forecast for the year based on financial statements and overall company goals for the year. There are many types of transactions that take place as part of operating an organization ranging from internal transactions that occur within the company itself and external transactions that occur between the company and an outside party. An internal transaction that I would encounter would be a purchase of supplies by my department from another department. If my department needs supplies such as envelopes and paper, which are considered an asset of the company, I would purchase these from the Office Services Department who would then bill my department for the items. An external transaction I would encounter would be a purchase of a fixed asset. A fixed asset is property that will be used long term within my department that is not being purchased with the intent to sell (Bragg, 2019). An example of this would be upgrading to
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