Enjoying Managerial Finance: Financial Statements, Taxes, and Cash Flow - Essay Sample

Introduction

I found my managerial finance class to be very enjoyable. It allowed me to have both direct and indirect participation in in-class activities. Topics that involved financial statements, taxes and cash flow were the most appealing to me. Furthermore, working with financial statements, both short term solvency, and liquidity, along with ratios, helped me to improve my mathematical skills. I also learned about making a capital investment which is an integral part of developing financial security.

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Away from the related academic experiences, the exchange of experiences between students turned out to be a life-changing factor. I learned how to engage with my fellow students on a professional and personal level. I developed skills that enabled me to synthesize other people's ideas and plans into my own and try and make something out of it. I also learned to respectfully agree or disagree with other people without making it personal but instead maintain an intellectual conversation. On a personal level, I noticed that it is crucial to view issues from other people's perspectives before terming or defining my ideas as superior.

Whenever we discussed in class, the professor dominated and determined the direction of the debate. It turned out to be a smooth and flowing discussion because he always knew what to do. I did not feel nervous and pressurized because I always knew what to do or say. The professor was thorough with his instructions and one could follow these instructions to the latter. If I met an obstacle of something I do not know or cannot entirely execute, he was happy to help. Although he kept challenging us to go outside of our comfort zones, I never quite felt the fear of failing because the class atmosphere was supportive and not judgmental.

I feel like these skills can be essential tools for advancing my career. The skills of reading a financial statement, cash flow analysis and filing returns are one that will be necessary not just in my career but personal life as well. Should I decide to pursue a career in business, I will be at an advantage because I will have built a knowledge foundation on these topics. Making capital investments will enable me to improve my financial security as I try to build my business portfolio. Whether I am seeking employment or entrepreneurship, working with financial statements is something that I should expect. I do not expect these tasks to be overwhelming in the future now that I have started learning about them at an early age.

So, in summary, the following are the benefits of taking part in the financial management class. The first one is that I get a better hold of my finances. With the knowledge obtained from this class, I can deploy financial management skills such as budgeting, saving, austerity measures and monitoring my cash inflow and outflow. Second, I do not have to rely on other people to handle my financial issues, such as filing taxes and making capital investments. For example, most people have to rely on personal finance managers and bankers to make and manage their capital investments. The problem with such a move is that these services cost money. So if I am to be an excellent financial manager, I should start by managing my finances. Third, being part of the class has expanded the scope of career choices that draw my interest. For example, careers such as accounting, financial controllers, credit managers, treasurers, and finance officers now look like viable fields that I would consider taking. These options were not on the table before I took part in the managerial finance class.

Even I decide to pursue a career outside the field of finance, the skills I learned such as relations and interaction, can help me in my personal life. I have managed to create new relationships that are based upon the interest to improve each other's knowledge.