Determine possible alternatives and select a cost flow method for accounting for the bike inventory.

Intermediate Accounting I

Accounting Project

Instructions

A. Submit the completed project on Canvas by Monday, April 29. Submit check-in figures on Canvas on the dates below.

· Other Income and Expense Questions: Due March 9 (6 points)

· Revenue Recognition Questions: Due March 23 (6 points)

· Inventory Questions: Due April 6 (7 points)

· Equipment Questions: Due April 20 (6 points)

· Completed Project: Due April 29 (75 points)

B. The submitted project on April 29th is required to be typed on Word or Excel.

C. This project is an individual assignment. This project is worth 10% of your grade.

D. In this project, you have three main deliverables due on April 29th:

1. Financial statements including

a. income statement

b. balance sheet

c. statement of changes in stockholders’ equity

d. all related notes. In the notes to the financial statement include notes on: significant accounting policies, cash and cash equivalents, revenue recognition, inventory, equipment, and any other notes you deem necessary.

You do not need to prepare a statement of cash flows

1. A memo to the owners of Cherry & White Bike Company explaining and justifying the following accounting choices:

a. Accounting for inventory: inventory cost flow methods.

i. Determine possible alternatives and select a cost flow method for accounting for the bike inventory.

ii. Present an analysis of the alternatives.

· Show and discuss financial statements effects of the alternative methods and estimates such as change in net income, assets, or liabilities.

· Examine the effects of the alternatives on the relevant common financial statement ratios of profitability, liquidity, and solvency.

iii. Explain why you select the alternative that you use in the financial statements.

b. Accounting for equipment: acquisition price and subsequent depreciation.

i. Determine appropriate method accounting for the acquisition price and subsequent measurement.

ii. Present an analysis of the alternatives depreciation methods.

· Show and discuss financial statements effects of the alternative methods and estimates such as change in net income, assets, or liabilities.

iii. Explain why you select the depreciation method that you use in the financial statements.

You may look at the Accounting Standards Codification (ASC) for guidance on accounting and alternatives.

1. Prepare the journal entries for all transactions in the general journal.

Check in Figure Questions and Due Dates

Submit on Canvas by 10 pm on the due date.

Other Income and Expense Questions – Due March 9 (1 point each)

1. What is the interest income for the three months ending March 31, 2019?
2. What is the total salaries expense for the three months ending March 31, 2019?
3. What is the rent expense for the three months ending March 31, 2019?
4. What is the insurance expense for the three months ending March 31, 2019?
5. What is the utilities expense for the three months ending March 31, 2019?
6. What is the supplies expense for the three months ending March 31, 2019?

Revenue Recognition Questions – Due March 23 (1 point each)

1. What is the total amount of the tune-up revenue for the three months ending March 31, 2019?
2. For one bike sold with the tune-up option on February 21st, what is the amount of the transaction price allocated to bike sales? Make your allocation using the standalone selling prices for the tune-ups and the bike.
3. For one bike sold with the tune-up option on February 21st, what is the amount of the transaction price allocated to tune-ups? Make your allocation using the standalone selling prices for the tune-ups and the bike.
4. What is the total sales revenue for bike sales for the three months ending March 31, 2019?
5. What is the total unearned revenue for tune-ups at March 31, 2019?
6. Describe CWB’s accounting policy for revenue from bike sales and for revenue from tune-ups.

Inventory Questions – Due April 6 (1 point each)

1. What is the cost of goods sold using the moving average cost flow assumption for the three months ending March 31, 2019?
2. What is the cost of goods sold using the FIFO cost flow assumption for the three months ending March 31, 2019?
3. What is the cost of goods sold using the LIFO cost flow assumption for the three months ending March 31, 2019?
4. What is the ending balance of inventory using the moving average cost flow assumption at March 31, 2019?
5. What is the ending balance of inventory using the FIFO cost flow assumption at March 31, 2019?
6. What is the ending balance of inventory using the LIFO cost flow assumption at March 31, 2019?
7. Describe CWB’s accounting policy for inventory including its cost flow assumption.

Equipment Questions – Due April 20 (1 point each)

1. What is the acquisition cost of the light fixtures?
2. What is the depreciation expense related to the light fixtures for the three months ending March 31, 2019?
3. What is the acquisition cost of the display cases?
4. What is the depreciation expense related to the display cases for the three months ending March 31, 2019?
5. What is the depreciation expense related to the equipment on hand at January 1, 2019 for the three months ending March 31, 2019?
6. Describe CWB’s accounting policy for equipment including its depreciation policy.

Intermediate Accounting

Accounting Cycle Project

Grading Rubric

Requirements

Points

1 – Limited

2 – Developing

3 – Proficient

4 – Exemplary

1. Financial statements including

24

a. income statement

6

Income statement is not complete, inaccurate, or not properly formatted multi-step income statement.

Income statement presentation is lacking in being sufficiently complete, or accurate, or properly formatted as multi-step income statement.

Income statement presentation is adequate as it is mostly complete, and accurate, and properly formatted as multi-step income statement.

Income statement presentation is complete, accurate, and properly formatted multi-step income statement.

b. balance sheet

6

Balance sheet is not complete, inaccurate, or not properly formatted as a classified balance sheet.

Balance sheet presentation is lacking in being sufficiently complete, or accurate, or properly formatted as a classified balance sheet.

Balance sheet presentation is adequate as it is mostly complete, and accurate, and properly formatted as a classified balance sheet.

Balance sheet presentation is complete, accurate, and properly formatted a classified balance sheet.

c. statement of changes in stockholders’ equity

5

Statement is not complete, inaccurate, or not properly formatted multi-step statement.

Statement presentation is lacking in being sufficiently complete, or accurate, or properly formatted as multi-step statement.

Statement presentation is adequate as it is mostly complete, and accurate, and properly formatted as multi-step statement.

Statement presentation is complete, accurate, and properly formatted multi-step statement.

d. all related notes. In the notes to the financial statement include notes on: significant accounting policies, cash and cash equivalents, revenue recognition, inventory, equipment, and any other notes you deem necessary.

10

Notes are not complete, inaccurate or not well written.

Notes are not lacking in being sufficiently complete, accurate or well written.

Notes are adequate in being sufficiently complete, accurate and well written.

Notes are complete, accurate and well written.

Requirements

Points

1 – Limited

2 – Developing

3 – Proficient

4 – Exemplary

1. A memo to the owners of Cherry & White Bike Company explaining and justifying the following accounting choices:

a. Accounting for inventory: inventory cost flow methods.

18

TOTAL

i. Determine possible alternatives and select a cost flow method for accounting for the bike inventory.

3

Proposes an alternative that is difficult to evaluate because it is vague or only indirectly addresses the problem statement.

Proposes one alternative that is “off the shelf” rather than individually designed to address the specific contextual factors of the problem.

Proposes one or more alternatives that indicates comprehension of the problem. Alternatives are sensitive to contextual factors of the case.

Proposes one or more alternatives that indicates a deep comprehension of the problem. Alternatives are sensitive to contextual factors of the case.

ii. Present an analysis of the alternatives.

· Show and discuss financial statements effects of the alternative methods and estimates such as change in net income, assets, or liabilities.

· Examine the effects of the alternatives on the relevant common financial statement ratios of profitability, liquidity, and solvency.

iii. Explain why you select the alternative that you use in the financial statements.

6

6

3

Evaluation of alternatives superficial (for example, contains cursory, surface level explanation) and fails to include the following: considers history of problem, reviews logic/ reasoning, examines feasibility of alternative, and weighs impacts of alternative.

Evaluation of alternatives is brief (for example, explanation lacks depth) and includes some of the following: considers history of problem, reviews logic/ reasoning, examines feasibility of alternative, and weighs impacts of alternative.

Evaluation of alternatives is adequate (for example, contains thorough explanation) and includes most of the the following: considers history of problem, reviews logic/ reasoning, examines feasibility of alternative, and weighs impacts of alternative.

Evaluation of alternatives is deep and elegant (for example, contains thorough and insightful explanation) and includes, deeply and thoroughly, all of the following: considers history of logic/ reasoning, examines feasibility of problem, reviews alternative, and weighs impacts of alternative.

b. Accounting for equipment: purchase price and subsequent depreciation.

12

TOTAL

i. Determine appropriate method accounting for the acquisition price and subsequent measurement.

3

Proposes an accounting treatment that is difficult to evaluate because it is vague or only indirectly addresses the problem statement.

Proposes one appropriate accounting treatment that is “off the shelf” rather than individually designed to address the specific contextual factors of the problem.

Proposes one or more appropriate accounting treatment and any possible alternatives that indicates comprehension of the problem. Alternatives are sensitive to contextual factors of the case.

Proposes an appropriate accounting treatment and any possible alternatives that indicates a deep comprehension of the problem. Treatments and alternatives are sensitive to contextual factors of the case.

ii. Present an analysis of the alternatives.

· Show and discuss financial statements effects of the alternative methods and estimates such as change in net income, assets, or liabilities.

iii. Explain why you select the treatment that you use in the financial statements.

6

3

Evaluation of appropriate accounting treatment and any possible alternatives is superficial (for example, contains cursory, surface level explanation) and fails to include the following: considers history of problem, reviews logic/ reasoning, examines feasibility of alternative, and weighs impacts of alternative.

Evaluation of appropriate accounting treatment and any possible alternatives is brief (for example, explanation lacks depth) and includes some of the following: considers history of problem, reviews logic/ reasoning, examines feasibility of alternative, and weighs impacts of alternative.

Evaluation of appropriate accounting treatment and any possible alternatives is adequate (for example, contains thorough explanation) and includes most of the following: considers history of problem, reviews logic/ reasoning, examines feasibility of alternative, and weighs impacts of alternative.

Evaluation of appropriate accounting treatment and any possible alternatives is deep and elegant (for example, contains thorough and insightful explanation) and includes, deeply and thoroughly, all of the following: considers history of logic/ reasoning, examines feasibility of problem, reviews alternative, and weighs impacts of alternative.

Requirements

Points

1 – Limited

2 – Developing

3 – Proficient

4 – Exemplary

b. Prepare the journal entries for all transactions in the general journal.

10

Writing and Communication – See Fox BBA Rubric

10

FOX BBA: Written Communication Rubric – Adapted for Intermediate Accounting

Written Communication Traits

1 – Limited

2 – Developing

3 – Proficient

4 – Exemplary

Language

Uses language (word choice, vocabulary) that generally conveys meaning with several errors. Jargon used somewhat appropriately.

Uses language (word choice, vocabulary) that mostly conveys meaning with some errors. Jargon used appropriately

Uses language (word choice, vocabulary) that effectively conveys meaning with few errors. Jargon used appropriately

Uses language (word choice, vocabulary) that skillfully and clearly conveys meaning with no errors. Jargon used strategically and appropriately.

Grammar/

Spelling/

Punctuation

Occasional grammatical, spelling or punctuation errors, but does not distract reader or obscure meaning

Generally free or almost free of any grammatical, spelling or punctuation errors.

Free of any and all grammatical, spelling or punctuation errors.

Demonstrates sophisticated awareness and use of grammar and written mechanics. Free of any and all grammatical, spelling or punctuation errors.

Style and Appropriateness

Somewhat uses an appropriate, professional style and tone for the audience. Ability to somewhat analyze and address the needs of the assignment and intended audience.

Generally uses an appropriate, professional style and tone for the audience Suitable ability to analyze and appropriately address the needs of the assignment and intended audience.

Mostly uses an appropriate, professional style and tone for the audience Good ability in analyzing and appropriately addressing the needs of the assignment and intended audience.

Consistently uses an appropriate, professional style and tone for the audience. Strong ability in analyzing and effectively addressing the needs of the assignment and intended audience.

Organization

Lacks a consistently organized, logical and effective message. Main points somewhat clear. Paragraphs reasonably coherent with some effective transitions.

Presents a generally organized, logical and effective message. Main points mostly identified. Paragraphs are generally coherent with effective transitions.

Presents an organized, logical and effective message. Main points clearly identified. Paragraphs coherent with effective transitions.

Presents an organized and influential message supported by very clearly identified main points. Paragraphs coherent, well sequenced and transitions display progression of thoughts/ideas.

Design and Formatting

Document formatting and supporting visuals somewhat enhance the effectiveness of the presentation and slightly limit clarity/cohesiveness

Document formatting and supporting visuals appropriately enhance the effectiveness of the presentation and its clarity/cohesiveness

Document formatting and supporting visuals display creativity and appropriately enhance the effectiveness of the presentation and its clarity/cohesiveness

Document formatting and supporting visuals strongly enhance the effectiveness of the presentation and its clarity/cohesiveness

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Internship SMART Goals Report

Part I: Internship Description

I work as an intern in Mass Co Worldwide Travel, a business that operates in the tourism industry. The firm’s vision is “to establish our company as a premier purveyor of the best hospitality services in the globe while observing our core principles as we take our business to the next levels.” To achieve its vision, Mass Co has the mission of inspiring and nurturing the experience of its visitors by bringing their homes closer to its stores. The vision and mission statements of Mass Co highlight the commitment of the entity to offer high-quality hospitality services while maintaining its principles and continuously inspiring its customers. The travel company has operated for a significant period of time, which equips it with much-needed experience, enabling it to thrive in a sector characterized by a competitive landscape.

I will work in the Human Resource Management (HRM) department during my internship, which starts on 1 January 2019 and ends 31 May 2019. Mass Co’s HRM section has the responsibility of hiring new employees and retrenching others. Additionally, the unit organizes training and development activities for new staff members or old ones when necessary. It also handles aspects like compensation, worker benefits, and employee relations. It ensures that the conduct and behavior of personnel conform to Mass Co’s vision of becoming a premier global hospitality company. Research shows that the HRM of any company plays the role of inspiring its workforce through suitable remuneration, benefits, and relationship management (Carraher 25). Thus, Mass Co has implemented advanced HRM practices to ensure that its staff remains motivated.

I work as an unpaid Human Resources Assistance at Mass Co Worldwide Travel. My job is to help the HR manager meet company goals as they pertain to staff management. My responsibilities include creating daily work plans for company personnel that must be accomplished within set deadlines. I ensure smooth flow of information within the departments to enhance output at the end of the day. I also analyze the current state of human resources in the firm with respect to its development strategy to establish whether the entity shows progress in achieving its key goals and objectives or not. Additionally, I help the HR manager summarize employee reports regularly.

Organizational variables such as compensation and benefits policies, career development and promotion, work and environmental conditions, and relationships with supervisors directly affect employee satisfaction. Therefore, an entity’s top management should implement appropriate HRM approaches and augment the above-mentioned aspects to ensure that staff motivation remains high (Sageer, Rafat, and Agarwal 34-35). HRM practices contribute significantly to organizational factors that influence job satisfaction. Thus, I believe that my internship will provide me with an opportunity to explore various HRM activities and analyze their impact on worker satisfaction and performance.

Part II: SMART Goals and Their Stepwise Implementation

The internship program is a prime opportunity for me to learn, interpret, and implement various HRM practices using Mass Co as a case study. I have identified three SMART goals and drawn up schedules to guide their execution during my internship. The goals and their realization processes are explained below:

SMART Goal 1. I will explore the history of Mass Co’s HRM practices, changes in strategy over time, and impact of such innovations on employee satisfaction by 5 May 2019. I will be responsible for the following activities, which will be conducted under the authority of the HR manager.

a) I will evaluate current HRM practices and changes, if any, that the department has implemented. Next, I will connect these practices and changes, where applicable, with employee satisfaction levels.

b) The activities I will pursue to achieve my goal include assessing the annual reports of the company, its human resources policies, and changes made over time.

c) I will collect information regarding the compensation and benefits of employees of different cadres using 2000 as the base year.

d) Additionally, I will gather data about the company’s revenue in the corresponding years and record them in an Excel Spreadsheet.

e) The task should be accomplished by 5 May 2019.

SMART Goal 2. I will assess the current rate of employee turnover and determine the contribution of HRM practices to the status quo by 15 May 2019. These activities will be completed at the office of the HR manager with the authorization of the department.

a) I intend to assess the current rate of employee turnover and determine the influence of HRM practices over the process.

b) Specific activities will include collecting data about the history of workers at Mass Co using 2000 as the base year.

c) I will evaluate the records of former personnel to identify possible factors that may have led them to leave the company. I will collect data about areas of dissatisfaction and their impact on staff turnover.

d) I will also gather information from current workers to examine their intentions and potential reasons for discontent.

e) I will be committed to completing these tasks by 15 May 2019.

SMART Goal 3. I will determine the readiness of Mass Co to implement changes resulting from the exploration of its HRM practices and turnover rates by 25 May 2019. I will accomplish these activities at the office of the HR department.

a) I intend to determine the readiness of Mass Co to implement the proposals I might make regarding a change in HR strategy.

b) I will conduct interviews with key leaders in the department.

c) I will also assess past strategies to predict the receptivity of the management to the current proposal.

d) I will analyze data collected through interviews and records of previous changes to make informed interpretations of the company’s ability to implement changes.

e) I will accomplish this goal by 25 May 2019.

The three SMART goals will help Mass Co to gain a clear picture of employee satisfaction levels, and hence, reduce the turnover rate. Identifying the indicators of the turnover rate will help the HR department reevaluate its policies through the correlation of the history of HRM practices, worker turnover rate, and company revenue. The internship will offer me an excellent opportunity to understand various HRM practices and their impact on employee satisfaction. Consequently, information about the firm’s receptivity to change will determine its ability to consider the proposals I will make at the end of my study. Its acceptance of novel tactics will be instrumental in discerning untapped opportunities, which can contribute to the establishment’s success. Moreover, the entity’s willingness to implement new HRM approaches will become its competitive advantage by considering innovative strategies when current methods may fail to produce expected outcomes.

Works Cited

Carraher, Shawn M. “Turnover Prediction Using Attitudes Towards Benefits, Pay, And Pay Satisfaction Among Employees and Entrepreneurs in Estonia, Latvia, And Lithuania.” Baltic Journal of Management, vol. 6, no. 1, 2011, pp. 25-52. doi:10.1108/17465261111100905.

Sageer, Alam, Sameena Rafat, and Puja Agarwal. “Identification of Variables Affecting Employee Satisfaction and Their Impact on the Organization.” IOSR Journal of Business and Management, vol. 5, no. 1, 2012, pp. 32-39. doi:10.9790/487x-0513239.

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Leadership challenges

When I joined the organization that I currently work for it was doing well or so I thought. The firm had many customers, and everybody seemed busy with their work. For instance, the company was getting so many orders that we could not service within the required timeframe. The management decided to add more people to the team. I thought that it would be a competitive process, but it did not happen (The CEC Report, 3). The HR manager and the finance manager hired their friend, and the general manager brought his niece. All the slots were filled without going through the competitive process. Yet the company continues to make mistakes in its business. For example, we missed the opportunity to offer our clients the lowest price. Since we are a travel company, the price will change with time, I think the company should provide the best and most suitable quotation for customers. So, I realized that there was a management problem at the top of the company.

Performance of the group. All the workers were divided into three groups so that they could pursue their goals more effectively. My supervisor was given two new members; James and Jane. I was required to closely work with them but unfortunately their performance was below average. They do not have the knowledge necessary to do the work required of them. Of course, they are also very good people, but they have not been exposed to this kind of work before. So, when I asked them to sell two products, they told me that they had no experience in marketing. They wanted to be trained in their new roles (The CEC Report, 3). My supervisor asked me to help them understand their new roles, But I’m also just an intern, and I spend a lot of time communicating with people in a second language. This made me feel a lot of pressure, because I was very worried about whether the content, I expressed was clear and whether the words would hurt them unintentionally. And I have my own goals to accomplish at the same time, I think I need to take some time to adapt and relieve my pressure.

I was lagging behind my goals because I had to train the new members. Besides, I did not have experience in training staff. I was quite new myself and had a hard time with my job duties… Furthermore, James was not productive. He did not put a lot of effort into his work. I felt that I was spending too much time trying to explain to him what is was required to do. He was also much older than myself and I thought that I ought to learn from him. Jane looked eager to know things, but it felt intimidating to be around her, as she was very close to the managing director. Therefore, it was difficult when talking to her. It was believed that she discussed her experience with the director. Another problem is that she failed to grasp whatever we were trying to do in our group, no matter how much she tried. I think the kind of work we were doing was too complex for her. She once told me that she would be better off in another department, that dealt with product development. However, her uncle, the managing director wanted her to learn about marketing. This kind of situation is also very common in China, I understand her mood very much, but I am just an intern, I can’t help her. But I think we should do our job well and we shouldn’t affect the interests of the company.

The company organized a performance evaluation exercise in which several staff members were determined to be performing below average. Supervisors of the affected teams recommended that the poor performers be terminated or moved to other departments. However, when the list reached the human resources department, it was decided that it must be reviewed further before it can be taken to the managing director (Amaral, 44). Some names were dropped before it was forwarded to the director. The final list contained only two names. Eventually, one was moved to another department while the other one was terminated. Another issue I noticed is how targets were determined. The top management had a meeting and decided on the targets of each and every department of the company. These targets were communicated to departmental supervisors without an opportunity for their input. Besides, the targets were revised upwards every time the departments met them. Therefore, the company’s leadership did not allow departmental managers to participate in decision making.

After a lot of reflection, I realized that there were leadership challenges in the company. The managing director was using his position to reward friends and relatives. The immediate top managers were also doing the same. The other problem was that there was no proper job description for the employees. People were just given roles that did not fit their training nor education qualifications (Amaral, 44). As a result, many people could not do their jobs. There was also a lot of cronyism in the performance reviews conducted by the company’s managers. Some people owed their positions to their relationships with the managing director and top managers. Another problem was that the company lacked a vision and a strategy towards its objectives (Amaral, 44). There was no strategy on how to achieve the targets developed by the top management.

When I joined the company, it seemed to be doing well. Everyone is busy with their work. However, the company had problems in hiring people. New employees reduce productivity and make mistakes, which cost the company. So does the pressure on employees. The hiring of staff is not a competitive process. Some, though underperforming, are still protected by management. In addition, the goal setting of the company did not involve the department manager. I also realize that some workers don’t have job descriptions. After much reflection, I came to the conclusion that the company was experiencing management and leadership problems.

Works Cited

Amaral Dionisio, Marcelo, “Strategic Thinking: The Role in Successful Management.” Journal of Management Research, Vol. 9, 2017, No. 4.

The CEC Report, “Leadership of the future Skills and practices for better performance.” CEC European Managers, Sept 2017, www.cec-managers.org/wp-content/uploads/2017/07/CEC-Leadership-Report.pdf Accessed 3 Mar 2019.

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Internship Key Learnings and Future Career Plans

Surname 1

Internship Key Learnings and Future Career Plans

The internship is a crucial part of the advanced learners as it acquits them with adequate skills relevant to their areas of studies. On the other hand, interns play a critical role in a company, where they help in timely fulfillment of various duties (Jenny, Pun, and Selden 13). In my case, the exposure contributed to adequate understanding of many of these crucial aspects. Furthermore, working with colleagues and interacting with customers has improved interpersonal and managerial skills significant in career development. Training new employees has assisted in identifying areas that needed improvements in management. In brief, the internship promoted self-growth, career development, and exposure to the human resource field that added to gaining crucial experience and understanding of the company’s performance.

Key Learnings Gained from Internship Experience

I gained knowledge in diverse fields in business management, such as marketing, accounting, and business law. Understanding all these sectors is significant in career building. It involved selling the services offered by Mass Co. to potential customers all over the world. Moreover, the assignment of new workers to train paved the way for learning in the process. The lessons include content marketing through communicating the products to customers, which demand understanding the product. In this context, following the marketing metrics has been significant because it has helped realize where the company is going wrong in acquiring the customers. Hence, the internship has promoted my understanding of the marketing strategies and appropriate marketing personnel’s contribution to product sales success.

Apart from the above mentioned, the internship brought about the understanding of the recruitment and selection process. The latter being the significant role for the human resource department, it has been vital to understand the strategic plan laid out by the company in acquiring suitable candidates for specific positions. Planning has involved determining the needs of the company and then developing an action plan to attract talent. Moreover, it is the responsibility of the department to create an employer brand impression that would be appealing to the potential candidates. After that, the selection and hiring procedure followed involving a selective process of thorough assessing qualification and experience. Therefore, being part of that step has enhanced knowledge and skills to incorporate in the future post.

Training the newly recruited employees was another responsibility assigned to me during the internship. The purpose therein was to acquaint the selected candidate with the company’s work pattern. The human resource team developed training program guidelines depending on the skillset required by the job description. The training not only served as an insight into the artistry of the employee to the human resource department but also became a task guide for the newly enrolled. It prepared the latter with the skills necessary for the duties allocated to them to ensure adequate performance within those roles. Taking part in the training enhanced soft skills of leadership, time management, communication, and critical thinking. Therefore, it has acted as a catalyst to grow and improve practical skills important in the human resource sector.

In this regard, to further engage the employees, they were enrolled in seminars, trade shows, and conferences to acquire additional skills for professional development. The human resource department played a major role in developing a strategy to implement the latter. It was done through assessing performance records of the staff members to determine the skills that required improvement. Each one was asked to enroll for either the seminars or/and conferences for their career development and the overall business performance. The programs have created the opportunity to engage and associate with colleagues to learn further about the human resource field and explore the company’s improvement and growth strategies. As a result, the engagement programs have proved essential in developing the career skill set for the future.

Carrying out performance appraisal to motivate and encourage employees to maximize their potential was another assignment during the internship. It is meant to assess performance and provide feedback to each member to understand what is expected of them. Approving and awarding those who excelled in their positions is done aiming to encourage and motivate their commitment and hard work. Furthermore, th workers are guided through their task requirements and expectations by the human resource interns. The role helped implement effective communication skills and develop a relationship with colleagues to understand them and provide necessary support, motivation, and encouragement for productivity. Hence, the aid has created the opportunity to build interpersonal and professional skills for upward career mobility.

The internship has also helped me learn how to maintain a work culture within the company. The latter ensures active conflicts resolution amongst colleagues to keep a conducive environment. Further, the human resource department is responsible for ethical professional relations at every level of the company’s structure. The human resource team does the mediating of the conflicting parties by establishing effective means to resolve the existing issues. Critical thinking and in-depth understanding of the respective policies were requirements to bring together employees to enhance cordial relationships in respect to the professional culture. Therefore, the human resource intern had to create a relationship with the peers based on trust and honesty and be proactive in cooperating with the latter to provide fair judgment without discriminating any party. It enhanced growth in conflicts management skills and experience in handling employees.

Being responsible for formulating contract policies the human resource team was responsible for ensuring compliance with the existing laws. It was a requirement for the interns to learn the rules that were to be considered within the company’s operations. The opportunity was to educate the interns on the labor laws, tax laws, policies of indiscrimination, and minimum wages applicable for individuals at different levels of the management hierarchy. Consideration of the requirements was to ensure the company had the upper hand with the law and did not violate legal conviction. Therefore, the exposure contributed to the understanding of all the legal requirements that affected the operation of the company, in particular the human resource department, in the implementation of policies related to employees.

The human resource department has the responsibility to manage the payroll of the company’s workforce. Among other duties assigned by the supervisor, one can mentioned monitoring of leaves, efficient generation of pay slips, reimbursements, and transparently managing salaries raise and cut, as mandated by the company’s policies. The department provided the payment information as a guideline for effective execution. Therefore, the role created the opportunity for calculation of salaries, dues, and compensations to promote the effectiveness of delivery and implementation of the knowledge gained to care for valid assistance to the human resource manager. In brief, evaluating the salaries of the company provided an insight to learn more through collaborating with the HR team to manage payrolls.

Therefore, the internship provided essential skills in the field of human resource that will play a significant role in the future. Furthermore, the position was an insight to encourage and motivate cultivating on career growth and professional development. It helped lay the foundation of leadership and promote upward mobility through effective delivery in the field. The training has enhanced effective communication skills among other interpersonal skills gained throughout the internship, for instance leadership, problem-solving, and critical thinking. Therefore, it was an opportunity to grow and advance career-wise.

My Future Career Plans in the Next Three to Twelve Months

Among the career plans in the future, one can mentioned exploring the company to identify the strategic changes and the impact that they have on the employees’ satisfaction. The latter will involve evaluating the current human resource management practices and changes that the department has applied, then connecting these elements with employee satisfaction levels. The activities will also include assessing the annual reports of the company, its HR policies, and changes made over time. Eventually, collection of information will be made regarding the compensation and benefits of employees of different cadres. Further gathering of the data about the company’s revenue will be done the corresponding years to record them in an Excel Spreadsheet and help evaluate the efforts being put in place to improve the working conditions of the employees.

Furthermore, another future task will involve assessing the current rate of employee turnover and determining the contribution of HR practices to the status quo. These steps will be completed at the office of the HR manager with the authorization of the department, where the specific activities will cover collecting data about the history of workers at Mass Co. using 2000 as the base year. Afterwards, one has to evaluate the records of former personnel to identify possible factors that may have led them to leave the company. More so, collect data about areas of dissatisfaction and their impact on staff turnover. One should also gather information from current workers to examine their intentions and potential reasons for discontent. Conducting these activities will help understand the strengths, weaknesses, and risks facing the human resource department and determining the ways of mitigating risks associated with employees leaving the company. Finally, the collected data will help evaluate the readiness to implement the changes for employees’ welfare in the business.

Therefore, the internship has been significant in advancing career goals and gaining the skills and experience required to hold the position of an HR manager at any company in the future. Moreover, the post gave the opportunity to nurture, develop, and demonstrate an aptitude and desire for career growth. Primarily, HR management requires discipline and hard work, which were demonstrated during the internship period. Finally, in this context, the internship goals were realized through training, which encouraged effective communication. Interacting with colleagues during the development conferences and seminars built further engagements for learning and improving skills, hence giving me the opportunity to learn, grow, and plan for the future career.

Works Cited

Chan, Jenny, Ngai Pun, and Mark Selden. “Interns or Workers? China’s Student Labor Regime.” The Asia-Pacific Journal, vol. 13, no 2 (2015): 1-25.

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