Reflection Paper

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School

Seneca College *

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Course

771

Subject

Accounting

Date

Apr 3, 2024

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docx

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Uploaded by nevlau

1 Final Reflection IAF771 April 18 2022

2 Table of Contents Explain how you were able to integrate your learning from your program into the work term: ..................................................................................................................................................... 3 Discuss and explore the implications of the work experience for learning in the final semesters of your program: ........................................................................................................ 4 Explain how the work experience will influence future work and/or study choices: ................. 5 January Journal ............................................................................................................................ 6 February Journal .......................................................................................................................... 6 March Journal .............................................................................................................................. 7

3 Explain how you were able to integrate your learning from your program into the work term: Never being one of the best students, I never saw how courses in school would help me in real life. However, after taking accounting courses through the International Accounting and Finance program, I’ve realized the direct translation into this line of work. Though this was not my semester working in my current company, writing this reflection has made me realize how impactful my studies really have been. Looking back, from basic accounting skills including adjusting journal entries, building a financial statement, or even more advanced tax knowledge such as completing a T1 full jacket return. Furthermore, I realize now while writing this reflection and thinking back to learning how to complete the T1 full jacket return last semester in my Income Tax 1 course, the benefits and knowledge I have actually gained through the course. This is because the Income Tax 1 course is directly correlated with the return that we would do for ourselves and clients on a fiscal year basis. If it were not for this course helping me build my knowledge, confidence, and skills, I do not think I would be able navigate, let alone complete my first tax season without guidance. Another course I wanted to reflect on is yet another course I took last semester, Auditing 1. This course, Auditing 1, although which I found extremely uninteresting at the time, kept me doing my work by the books and making sure any changes I make to files are done within the expected criteria and therefore will not be returned with an audit requirement. Each time I am tasked with a file now, I no longer hesitate and/or the correct information to be inputted as per the knowledge I have gained through this course, I know exactly what is acceptable and what is not acceptable. Seneca College, being a very realistic learning environment also means that everything taught is directly hands on and can be directly

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4 translated into the workplace which is much more beneficial in comparison to the learning atmosphere at a university level. Being a previous university student, I can safely say that the curriculum taught at the university I had attended is very much theory based as compared to experience and real workplace scenarios. Discuss and explore the implications of the work experience for learning in the final semesters of your program: Working in an actual accounting firm has taught me many things. Not only have I learned life skills of working in a professional field, but I have also learned many educational skills. As forementioned in the previous section, I have never been a student that excelled in anything school related. School was tough for me growing up as I found it difficult to fully understand why I was learning certain topics. However, after working in the accounting firm, I now acknowledge truly how important what we learn in the courses we take is. If I never took the courses, I was enrolled in last semester seriously, I truly think I would have had a very difficult time at work over the past couple of months. Nevertheless, I strongly believe that I will work much harder and focus more on everything I learn in my courses. The reason I say this is because I have seen first-hand how everything I learn in my courses directly applies to what I am assigned to do at work. This shows that in the future, the chances of me learning something in the courses I take will directly translate to future tasks assigned to me at work is very high. Thus, in order to perform well and not let anyone down, I must focus on everything I learn and make sure that I not only understand the concept, but also know how to accomplish it. In the final semesters of my program, I can safely say that it will be the semesters I work much harder in. Although I believe I tried hard in my other semesters, I will most definitely give

5 it my all in these coming semesters as I want to continue developing my skills that are seen to directly translate to work. Explain how the work experience will influence future work and/or study choices: My current work experience has had a major impact on the way I perceive how I will approach work in the future as well as my study choices. Like I mentioned previously, I was never a great student growing up. Being studious never came to me naturally, it was something that I struggled to work towards. However, after working for a couple of months in this accounting firm, I can safely say that I have gained many new skills, learned how important it is to be able to pick up topics quickly, and how important it is to be able to be diligent. It became more apparent to me through work that I need to continue working and growing my studious skills towards school. For example, I will continue to create a daily schedule for myself that indicates which tasks I must complete and what to review from my courses each day. In terms of how my current work will influence my future work, I strongly believe that I will work much harder and focus more on everything I am taught. Working in this accounting firm has shown me about crucial it is to learn from those who have more experience. I understand they are there to help and thus, I will constantly remind myself that they are there to help. Furthermore, my current work has showed me how much I truly enjoy the accounting field. It makes me more motivated to work and study hard to be able to continue greatly in this field. I look forward to hopefully being able to continue working with this company, continue learning from those who have much more experience than I do, and to potentially receive a greater role.

6 January Journal First month of co-op, how exciting and although, a positive COVID-19 test was how I started my year, going into work was not as highly intensive as I'd assume it would be leading into tax return season. I went into work with not much on my desk and in fact with the open time, my co-op colleagues and I were brought into a common space to learn and prepare for the upcoming tax filing season. Since the work tempo was moderate, I thought I could take my time on files unknowingly to what would become a mountain of work on my desk. Looking back, one huge mistake was coasting and a significant improvement would be to incorporate better time management and allocation. I learned a lot of technical skills and also better felt out the working environment through the month. February Journal Into February was when I started to get a hang of the work flow and the culture of the workplace. Going into the second month I had already began improving my work habits and assimilated into how to manage the never-ending inflow of projects and files. February was more a battle within as day in day out, although the files were for different companies and clients, the overall methodology and skills required were the same. I started to feel burnout and at times even dreaded going into work. I began to question myself whether this line of work was really where I saw myself for the rest of my working life. It wasn’t until my boss pulled me aside to have a very comforting conversation with me regarding how to manage everything happening. I learned a lot from that conversation and changed my overall point of view towards

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7 the work in front of me. Being in an accounting firm, what I’ve now picked up is that its not just numbers and getting work done for the sake of getting work done; I am helping people. The mindset now is I get to help people not only save money on taxes but also plan their financial futures also, meaning each file I touch will directly affect other’s futures. One thing I would do differently which isn’t directly related to work is taking proper time to unwind after each day so the burden from the day before will not get carried on to the next. March Journal March is when tax season officially began. What we call tax season is the time of the year where all the firm's clients start bringing in their personal information for us to file tax returns. March was hard, minutes became hours, hours became days, but the work coming in did not let up just like a water flowing through a river damn. Although I had starting taking time to unwind daily, that amount of time progressive became shorter as we started having to stay behind and do overtime hours to catch up on work. What started as a half hour change from 5:30 to 6:00 became 7:30 and all the time I would usually go out to take my mind off things became time travelling to commitments I had made prior. To be honest, I don't think there is much I can do differently in the situation and I continue to think of new ways to cope even now. It really is difficult. One thing I will do in the future as a note to self is to reduce the number of commitments during this time period in the future as even fun events are energy tolling and cut back the amount of resting time I have between weekdays. Overall, though burning out once again, I don't hate work nor my current work limiting life. I am confident when I continue this line of work in the future eventually, this will become easier.