Accounting Competencies

This competency focuses on identifying potential risks, evaluating their impact, and making informed decisions to manage them effectively. I assess risks when managing multiple deadlines by applying time management skills to prioritize tasks and adjust plans as needed. I also regularly review my progress to identify any problems early and make necessary changes. By staying organized and proactive, I am able to handle unexpected challenges more effectively, ensure that all goals and deadlines are met, and minimize potential issues or obstacles. 

This competency involves gathering information from reliable sources, analyzing findings, and clearly communicating conclusions.

For this paper, I researched the Tax Cuts and Jobs Act (TCJA) and its impact on corporate and individual taxes, economic growth, and income distribution. I used sources like the Tax Policy Center, Congressional Research Service, and IRS reports to understand how the law changed tax rates, deductions, and business incentives. By reviewing expert opinions and financial data, I evaluated the TCJA’s effectiveness and its long-term impact. This project helped me develop strong research skills and communicate complex financial topics in a clear way.

This competency focuses on identifying relevant financial data, analyzing it, and using professional judgment to support decision-making. For this project, I worked through the full accounting cycle for SMC, Inc., from journal entries and adjusting entries to financial statements and ratio analysis. I recorded transactions, ensured accurate reporting, and evaluated financial performance using key ratios. This gave me a better understanding of how financial data is used to assess a company’s position and make decisions based on numbers and data.

This competency focuses on identifying the appropriate processes, systems, and controls to support efficient and effective operations. In the Simply Soups Inc. audit, I used the learn.confirmation.com platform to manage cash confirmations across several banks. I reviewed the platform’s SOC reports to assess its control environment, ensured accurate setup of client and account details, and followed a structured process for sending, reconfirming, and documenting confirmations. This process improved efficiency, improved the reliability of audit evidence, and allowed for timely resolution of any exceptions.

This competency involves identifying relevant financial information, measuring data for reporting, and communicating findings in accordance with professional standards.

In my City of Bingham Project, I recorded journal entries, prepared trial balances, and created financial statements for the General Fund. This required tracking revenues, expenditures, and fund balances while making sure everything aligned with governmental accounting standards. By organizing financial data and reconciling differences, I gained experience in preparing reliable reports that support decision-making.

This competency focuses on using technology and accounting systems to manage financial data and reporting processes. For this project, I used spreadsheets and accounting principles to solve complex financial reporting problems for Reeves, Inc. I applied formulas, organized financial data, and ensured accuracy in calculations to analyze financial statements. This experience helped me develop a stronger understanding of how technology supports financial reporting and how structured processes improve accuracy and efficiency in accounting.

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