{"id":65729,"date":"2021-08-27T12:48:21","date_gmt":"2021-08-27T12:48:21","guid":{"rendered":""},"modified":"2021-08-27T12:48:21","modified_gmt":"2021-08-27T12:48:21","slug":"principles-of-good-writing-and-formatting-english-language-essay","status":"publish","type":"post","link":"https:\/\/www.ukessays.com\/essays\/english-language\/principles-of-good-writing-and-formatting-english-language-essay.php","title":{"rendered":"Process of Preparing Financial Statements"},"content":{"rendered":"<p>The process of preparing financial statements may also required you to provide accompanying reports or recommendations. Below are some principles that should be followed when preparing this written communication.<\/p>\n<h2>Principles of good writing and formatting<\/h2>\n<p>Proper grammar and correct spelling are the underpinning elements of any written communication. Other writing and layout skills contribute significantly to the communication and acceptance of any document. Here are some principles that provide evidence of good writing.<\/p>\n<h2>Principles of good writing<\/h2>\n<ul>\n<li><strong>Audience \u2013<\/strong> Always design with an audience in mind. Where possible, state up front what the reader profile is. Aim at a specific reader and assume that the reader is intelligent but uninformed.<\/li>\n<li><strong>Purpose \u2013<\/strong> Before writing your document, determine the exact purpose of the report.<\/li>\n<li><strong>Language \u2013<\/strong> Use language that is simple, concrete, and familiar.<\/li>\n<li><strong>Structure \u2013<\/strong> When preparing explanatory notes follow the standard speaker\u2019s approach \u201cFirst tell your readers what you are going to tell them, then tell it to them, and finally tell them what you told them\u201d<\/li>\n<\/ul>\n<h2>Culturally appropriate communication<\/h2>\n<p>According to the website of the Department of Families, Community services, \u2018culturally appropriate\u2019 communication means:<\/p>\n<p>Finding away to communicate effectively that also respects and accepts cultural differences. Communication is a two-way process, so all parties need to work together to achieve culturally appropriate communication. It\u2019s about discovering, recognising, understanding and working effectively within the influences of each other\u2019s culture.<\/p>\n<p>Effective communication is an important component of any job. Effective communication ensures that ideas, instructions and information are shared in a way that ensures the organisation achieves its objectives. For communication to be effective it needs to be understood and interpreted by the person receiving the message in the same way that the sender intended. So, effective communication becomes a challenge when the person you are communicating with is from a different background, has different values and perhaps has a different language to your own. In these situations you need to deliver your communication in a culturally appropriate way if effective communication is to be achieved.<\/p>\n<p>Some important points to consider to ensure culturally appropriate communication are:<\/p>\n<ul>\n<li>Remember that you are communicating with individuals. Beware of the assumption that all people from a certain cultural share the same values and beliefs.<\/li>\n<li>All cultures are equal \u2013 A different culture to your own does not mean a lesser one. While you are most comfortable with your own culture, this does not mean it is the \u2018the best\u2019 or \u2018the only\u2019 way people should behave.<\/li>\n<li>Speak clearly and concisely \u2013 Sound words out properly rather than slowly, which can sound patronising. Shorten your sentences and convey one idea per sentence. Add visual support like charts, images and diagrams to your text or verbal communications.<\/li>\n<li>Check for understanding \u2013 Ask the person to repeat your communication back to you to ensure they understood the message how you intended.<\/li>\n<li>Be aware of non-verbal communication \u2013 Not all communication is verbal. Some studies report that up to two-thirds of the meaning of a message is interpreted by the non-verbal communication such as facial expressions, hand gestures, posture and tone of voice. Take care not to allow your non-verbal communication to be misinterpreted by people from by other cultures.<\/li>\n<\/ul>\n<h2>Language for report writing<\/h2>\n<ul>\n<li>Be precise: Use short sentences and be simple and direct. Avoid using excess words and cumbersome phrases. Express your meaning clearly and do not use clich\u00e9s, jargon or ambiguous terms.<\/li>\n<li>Be objective: Present data impartially and without bias. Present facts and avoid using emotive terms. Clearly distinguish opinion from assumptions.<\/li>\n<li>Be accurate: Ensure your report is free of spelling and grammatical errors. Proof read your work carefully before finalising and presenting it.<\/li>\n<li>Be impersonal: Avoid the use of personal terms like \u201cI\u201d, \u201cmy\u201d and \u201cme\u201d.<\/li>\n<\/ul>\n<h2>Organisational requirements for producing reports<\/h2>\n<p>Your organisation may have templates or style guidelines that direct how documents are to be produced. This may include directions for use of company logos, headers and footers, page numbering and file naming protocols.<\/p>\n<p>You should ensure your report follows all necessary guidelines, contains all the relevant information and is presented professionally. Have a colleague check your work for details you may have missed.<\/p>\n<h2>Communication and Interpersonal skills<\/h2>\n<p>Interpersonal skills are a necessary component in the process of preparing financial statements. You must be able to effectively confirm the requirements for reporting in order to produce useable statements and recommendations.<\/p>\n<p>Some useful communication skills are outlined below:<\/p>\n<ul>\n<li>Third-personing \u2013 This technique can be used to normalise a client\u2019s feelings. Example \u2018Many retirees are looking for ways to get a better cash flow option\u2019 This technique allows the client to respond to the statement and talk about the statement if they choose. It also allows the client to correct advisor\u2019s assumptions.<\/li>\n<li>To the Nth Degree \u2013 This skill allows the client to define their own priorities and needs. \u201dYou are concerned with many different financial issues. What concerns you most?\u2019 This technique shows respect for the client\u2019s needs and allows the client to control the interview\u2019s direction.<\/li>\n<li>Offering Options \u2013 When a client is struggling with a decision, an advisor can offer a range of options, which allows the client to choose which options might work for them.<\/li>\n<li>Paraphrasing \u2013 Paraphrasing lets the client know that they have been heard and understood by the advisor. This technique uses different language to reinforce what the client has said. It also allows the client to give an advisor feedback if they have been misunderstood.<\/li>\n<li>Acknowledge\/normalise \u2013 Acknowledge or normalise a client\u2019s feelings to reassure them. This helps builds trust, openness and self-respect. Example \u2018That\u2019s a pretty common reaction.\u2019<\/li>\n<li>Affirming Statements \u2013 Genuine affirmation improves the client\u2019s sense of well-being and builds on client strengths and past successes. Examples: \u2018Thanks for your input today. It was very informative\u2019<\/li>\n<li>Things to avoid \u2013 There are ways in which communication can be interrupted or blocked unintentionally by the listener\u2019s response. Some of these responses to avoid include arguing, lecturing, moralising, preaching, judging, withdrawing, distracting or ridicule.<\/li>\n<\/ul>\n<h2>Learning activity: Interpersonal skills<\/h2>\n<p>Identify and describe three benefits that you think that a person charged with the responsibility of preparing financial statements would secure by possessing good interpersonal skills to deal with clients.<\/p>\n<h2>Listening<\/h2>\n<ul>\n<li>Become an active listener \u2013 There are five key elements to this to help ensure you are really listening to what the person has to say:<\/li>\n<li>Pay attention \u2013 Give the client your undivided attention and acknowledge the message. Recognise that what is not said also speaks loudly.<\/li>\n<li>Show that you are listening \u2013 Use your own body language and gestures to convey your attention.<\/li>\n<li>Provide feedback \u2013 Ask questions to clarify certain points. \u2018What do you mean when you say\u00e2\u20ac\u00a6?\u2019 \u2018Is this what you mean?\u2019<\/li>\n<li>Defer judgment. Allow the client to finish. Don\u2019t interrupt with counter-arguments.<\/li>\n<li>Respond appropriately. Be candid, open, and honest in your response.<\/li>\n<\/ul>\n<h2>Learning activity: Active listening<\/h2>\n<p>Am I being an active listener when I \u2026<\/p>\n<p>Argue my point<\/p>\n<p>Yes\/No<\/p>\n<p>Look around the room<\/p>\n<p>Yes\/No<\/p>\n<p>I am honest in my response<\/p>\n<p>Yes\/No<\/p>\n<p>My body is facing away from the other person<\/p>\n<p>Yes\/No<\/p>\n<p>I ask them to clarify a point<\/p>\n<p>Yes\/No<\/p>\n<h2>Liaising<\/h2>\n<p>When confirming reporting requirements, you will need to liaise effectively with relevant stakeholders. Gathering information, answering queries and resolving difficulties rely on good communication skills and your job will be made easier when you can deal with everyone efficiently and effectively. Most problems hindering project outcomes are tied back to communication difficulties. To make this liaising process easier, consider implementing the following;<\/p>\n<p>Firstly have a clear idea about what you\u2019re supposed to be doing. Clearly outline the terms and conditions under which you\u2019ll be operating. Knowing who is responsible for what and how things are going to get done, makes later disagreements less likely. Some tax agents use a standardised contract to establish and manage this relationship.<\/p>\n<p>Secondly don\u2019t report to multiple people. Insist on one constant point of contact throughout the process. Requests for changes or updates should come from one person. This way there is less chance that you\u2019ll end up chopping and changing as different people express their opinion.<\/p>\n<p>Thirdly, keep your client abreast of your progress on a regular basis. Maybe it\u2019s a regular email just to let them know that you have everything under control. This will stop the client checking in on progress at times that may be inconvenient and disrupt your work flow.<\/p>\n<h2>Learning activity: Client liaisons<\/h2>\n<p>Identify different situations where you may need to liaise with a client when providing financial statement preparation services, and describe how this might be done. In particular, note what trigger points there are in the process that may require you to liaise or clarify information with a client.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The process of preparing financial statements may also required you to provide accompanying reports or recommendations. Below are some principles that should be followed when preparing this written communication.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-65729","post","type-post","status-publish","format-standard","hentry","category-essaysenglish-language"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Process of Preparing Financial Statements | UKEssays.com<\/title>\n<meta name=\"description\" content=\"The process of preparing financial statements may also required you to provide accompanying reports or recommendations. 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