Core Technology Skills
Though accountants traditionally work on paper, as technology has progressed, accountants have turned to online programs to easily journalize transactions and create financial statements. Since my first day at Spectrum, I have ensured that the company uses modern technology in order to work as efficiently as we can. I, along with the accounting specialists, have used Google Spreadsheets to create our journals, organize payroll, make financial sheets, control inventory, and create invoices. We have utilized spreadsheets created by VE, as well as made our own, to ensure that we can effectively use and create financial sheets and journals online. Using online programs that compute equations automatically reduces mistakes that occur when inserting numbers into calculators. Additionally, we use Google Drive to organize documents into folders and utilize the Spectrum email to engage with other companies. My department will continue to use these online programs to not only prepare ourselves for future jobs that require technology efficiency, but also to ensure that we can get our work done accurately and on time. I believe that I have done a great job using my core technology skills because I use technology, such as the email and Google Drive, every day in class just like professional accountants.
Leadership
As my department worked on the Business Plan at the start of the year, I learned how each member worked, from their pace to their preference for working alone or with others. From these observations, I decided what jobs to give each person. Two members, for example, were given the task of inventory and sales, while another was to deal with payroll and taxes. Though each accountant knows their specific job, I start every day off with a short summary of what needs to be done so that the department can stay on track. This is especially useful so if one person does not have a lot, they can help the others finish their workload. This has helped foster a friendly and helpful work environment. We also created documents like the one above that highlight tasks with monthly deadlines to help ensure that our department finishes everything that needs to be done.
As chief, I often stand on the sidelines, overseeing that all members of my department are staying on track, while still offering help if it is needed. This allows me to work on company-wide projects while my department focuses on their individual task for the day. I regularly check in with my accountants to ensure that everything is running smoothly. Though it can be difficult for me to hand the reins over to the others as I worry about things being done wrong, my department impresses me every day with their attitude and skill, and I have learned to trust them to always work their hardest. As the year progresses, I plan on continuing this work as it has been very successful for my department: I have a strong connection with each accountant and the department as a whole is very efficient and collaborative. Though I do have trouble sometimes due to my perfectionist attitude, I am a great leader for my department. It runs very smoothly every day due to my influence.
As chief, I often stand on the sidelines, overseeing that all members of my department are staying on track, while still offering help if it is needed. This allows me to work on company-wide projects while my department focuses on their individual task for the day. I regularly check in with my accountants to ensure that everything is running smoothly. Though it can be difficult for me to hand the reins over to the others as I worry about things being done wrong, my department impresses me every day with their attitude and skill, and I have learned to trust them to always work their hardest. As the year progresses, I plan on continuing this work as it has been very successful for my department: I have a strong connection with each accountant and the department as a whole is very efficient and collaborative. Though I do have trouble sometimes due to my perfectionist attitude, I am a great leader for my department. It runs very smoothly every day due to my influence.
Professionalism
As Spectrum's Chief Financial Officer, my main task each day is to oversee the accounting and finance department to ensure that all employees are performing at an above average level. For the past month, my focus has been on preparing my department and the company for the Bay Area Trade Show on March 18, 2018. Following the Career Readiness Framework, my most used skills are collaborating with others and effectively managing projects. At the trade show, I am participating in the Financial Statements Challenge. In preparation for this, my department has worked on creating a paper presentation and Powerpoint highlighting our income statement, balance sheet, startup expenses, and break-even analysis. In order to have this project done on time, I broke it up into smaller parts, which I assigned to members of my department. To create the final Powerpoint and paper, I collaborated with Sarah Paolucci, our Chief Project Manager, to create a professional and sleek presentation. I very effectively managed this project by working alongside my accountants to finish the final product, attached below, for the challenge in an efficient manner.
While I have prepared for the trade show using professional skills listed in the Career Readiness Framework, I will use these skills at the trade show as well. It is very important that I, as well as the other employees who will be attending, network with other companies while in San Francisco. As networking is a vital skill needed for the professional workplace, the trade show in Tennessee in November 2017 was a great learning experience to practice my skills needed for successful networking, from creating a personal connection to offering a knowledgeable sales pitch of our products. Moving forward, I will improve upon my professional skills by networking with new companies in California and following up with them in the weeks after the trade show in order to create a stronger connection with companies outside of the Chicago-land area.
While I have prepared for the trade show using professional skills listed in the Career Readiness Framework, I will use these skills at the trade show as well. It is very important that I, as well as the other employees who will be attending, network with other companies while in San Francisco. As networking is a vital skill needed for the professional workplace, the trade show in Tennessee in November 2017 was a great learning experience to practice my skills needed for successful networking, from creating a personal connection to offering a knowledgeable sales pitch of our products. Moving forward, I will improve upon my professional skills by networking with new companies in California and following up with them in the weeks after the trade show in order to create a stronger connection with companies outside of the Chicago-land area.
Functional
I believe that some of the best qualities for an employee are to be analytical and adaptable. When Spectrum first opened, we decided that one of our initial marketing tools would be to donate 5% of all sales to a charity. We though this would help set us apart from other companies as most VE companies are not openly philanthropic. As one of the chiefs, I helped research what charity would be best to donate to. After going through lists of sports charities, I decided upon Good Sports, as it seemed to tie into our product line the best. After the trade show in November, however, I realized that most potential buyers did not seem to care about the donations, so it was not a strong marketing tool. By analyzing our monthly income statements (located below), I came to the conclusion that the cost of the 5% donation was hurting the company's profits more than it was bringing in new sales. After talking with the CEO and the CAO, we ultimately decided to stop the donations as it did not have the effect that we believed it would.
Along with conducting research and analysis, I have had to become very adaptable. During the month of March, Spectrum faced a very big change. The marketing department was not working efficiently, so the decision was made to rearrange the company. Two of my former accountants, Ife and Will, became marketing specialists, while Lauryn Wharton from HR moved into the accounting and finance department. It was a big adjustment, especially since we had a strong system set up, but I helped my team tackle it with ease. In order to have a smooth adjustment, I had Ife and Will teach Lauryn how to create invoices and update inventory before the moved over, while the rest of my department worked on our daily tasks so there was no lull in completing what needed to be done. This worked well and my department was running smoothly within only a couple of days after the switch.
Overall, I have done a great job working within Spectrum on both departmental tasks and company-wide issues. Due to my analysis of the income statements and marketing tools, I was able to save the company from losing large amounts of money, while also helping my department adapt to change. Now that my team is running smoothly once again, the next step is to communicate with the marketing department more often in order to process orders and inventory more efficiently.
Overall, I have done a great job working within Spectrum on both departmental tasks and company-wide issues. Due to my analysis of the income statements and marketing tools, I was able to save the company from losing large amounts of money, while also helping my department adapt to change. Now that my team is running smoothly once again, the next step is to communicate with the marketing department more often in order to process orders and inventory more efficiently.