Question

What do you perceive as an immediate threat confronting modern organizations now? What about opportunities? Technology...

What do you perceive as an immediate threat confronting modern organizations now? What about opportunities?

Technology plays a major role in the success of many businesses. Because of this it is also a threat. According to principal analyst Dan Newman many business have yet to understand how digital transformation can affect their businesses (Business Insider, 2017). A prime example of how technology can affect your business took place yesterday, March 13, 2019. Facebook, Instagram, etc were all reportedly down yesterday which had many of its users in a frenzy. Many businesses use these applications to conduct business. My small businesses are heavily reliant on these apps because this is how we showcase merchandise and process sales. There are so many threats that are presented, such as security breaches by hackers, which can affect the finances of any company. Companies must put in the proper procedures to prevent these issues from happening.

How do you see the financial reporting requirements for companies shifting in 10 to 20 years? Are they going to become more stringent or more relaxed? Are countries across the globe going to standardize their filings into a single system?

In the next 10 to 20 years I foresee that financial reporting will have to be more stringent in an effort to have accounting principles accepted globally. In order for financial statements to be in unison globally they must be prepared using International Financial Reporting Standards (IFRS), and audits must be done in accordance with International Standards on Auditing. By everyone following the same accounting procedures it allows companies to be on the same page.

What skills and knowledge do you hope to gain in this course, and what are your career goals for your MBA?

I hope that this course will expand my knowledge of having a better understanding of financial reporting. Seeing that my career choice is Corporate Finance this course is vital to the foundation of my future in Finance. This course will put me in a better position to understand the daily financial information of any company. Once I have successfully completed my MBA I will place all of that knowledge into my businesses as well as my family’s shipping business.

For chegg: In reference to the above post, find common ground and/or remark on any differences in experience, interests, and goals. Was there anything in my posts that you perhaps had not considered?

Homework Answers

Answer #1

You mentioned that your career choice is corporate finance and your goal is do a masters in business administration. These two both are one of the common grounds in experience ,interest and goals. Furthermore it was mentioned that you believe that Financial and reporting norms will be more stringent and adopting of IFRS by all organisations globally is one of the beliefs. So Career in finance will help you to further your understanding of the Finance & Reporting World.

I could only find differences with respect to threat spotted and interest to pursue finance. You believe that technology is biggest threat, however your interest and career goals are in finance stream.

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