There is business wherever we go. It moves the people, it lets them buy their needs and wants, invest their money, maintain their earnings, and make a living.
In my daily life
Having learned about Partnerships and Corporations, it served as an eye-opener to what I also have to prepare for since I am aspiring to build my own stable business in the near future. I can get to talk with my family regarding my goal and I could also influence my colleagues in knowing and deciding what type of business organization is best and appropriate to put up.
I have always been curious of the big corporations too. Now, I get to decide sooner or later if I will invest in the stock market. Having understood how important they are in our society and what they went through to have it operating, it gives me inspiration to strive more. Moreover, it is also observable that co-ownership is being easily mistaken as partnership by some individuals. After my learnings in this subject, I can now fully differentiate them and explain how the two occurs in distinct situations.
Most importantly, since I am determined to finish my course and to work as an accountant someday, I could apply and make use of all the lessons that I’ve learned about Partnerships and Corporations as I constantly learn how to account them in different manners.
We have been discussing shares and making financial reports and things might get different now because it is the first time I get to know the inside and the real scenario on how these companies are built, how it goes on, and how it ends.
It is helpful that I understand its concept in real world and in the eyes of law. Those learnings will stay in my mind and will serve as my guide in whatever I do every day.
In my future profession
The day I decided my future profession, I entirely acknowledged all the pathways that I will have to pass through. From that day forward, I committed myself to its entirety – from how it works and moves up to its purpose, to whom will I work, and how meaningful this career will be.
Just like how accounting is done, I make stepping stones. First, I studied the different types of business organizations; I knew its differences and similarities. Second, I learned how to account it in basic terms; primarily, it provided me the skill. Lastly, I learned its technicalities and legality. Thus, I gained the comprehension that I must actually have with the future job that I am working hard for.
If I will be hired soon as an accountant of a private firm which may be a partnership or a corporation, I could wholly utilize my learnings in our subject. I will know how my job works in connection to the organization and I will be literate not only on maintaining and processing the accounts but also with the nature and the obligations of the people in the workplace not only to themselves and to the business, but also as to the third persons. This is a substantial knowledge in a way that they could ask me for consultations, I could give advices and direct them, and I know what I will expect to focus and work on in major periods of the business.
I will not be baffled in times that profits in partnership are ready for distribution or if there are industrial partners, I will apply what I’ve learned that they should receive their shares first which must be just and equitable along the circumstances. On the other hand, I will also understand to whom the shares of stocks are for and the powers that run within those investors.
It will be a requirement to know the whole aspect of the organization because it is what I will represent and what will represent me. Having my profession done correctly and in accordance with the law is important because my future job, being an accountant, means that I will have to deal with actual people and money, and there will be no room for mistakes. If I will get a thing stirred up, it will cause something to me and to the others – worst part is, I will have to take accountability by virtue of my negligence if it happened.
Hi! Thank you for going through my article. If you have comments and suggestions, please write them down on the comment box! - yanyan xx
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