ukessays.

com

http://www.ukessays.com/essays/finance/an-analysis-of-bank-al-habib-limited-finance-essay.php

An Analysis of Bank Habb limited

Need help? 0115 966 7955 The free essay below has been submitted to us by a student. The essay is the student's work and is not an example of our expert essay writers' work. READ MORE Get an Instant Quote

What did you learn from the meetings with your project mentor, including the presentation that you gave to your project mentor?
My first step in planning was downloading the research and analysis project guidelines from ACCA website. After a detailed study I noted down few topics that seemed interesting to me, requirements which were perplexing and possible sources of information. Next, I requested my mentor, Mr. Laeeq R Khan who is an ACCA member and a lecturer of ACCA professional qualifications at College of Accounting & management sciences (CAMS), to provide me quality guidance so that my submission would reflect the best practices of a good thesis. I arranged three meetings with him which all took place at CAMS. The first took place on 16th October 2010; it was a rational discussion on the expectations out of this project and the rubrics I am supposed to cover. The next was held on October 30th 2010 where I also presented to him a first outline of my thesis and asked him to evaluate it. Based on his input, I presented to him the final draft of my research analysis project on November 9th 2010 and made small changes to the word count and content arrangement based on his kind advice. Prior to the first meeting, I went through the guidelines of the research & analysis project available on ACCA website & wrote the topics which captured my interest. I discussed all the topics thoroughly with my mentor evaluating the constraints & availability of information. Finally I decided to analyze the business and financial situation of Bank AL Habib. Even though there are several other banks in the country, I rested my choice on the said bank due to its aggressive strategy in the market over the past five years. I had already started formulating a strategy in my mind & had a better perspective of the project. We also discussed briefly the project objectives and research approaches things that I could do to make my research effective. I had collected the required information on my topic and now sorted the data to produce my temporary report which was duly presented to Mr. Laeeq in the second meeting. This was thoroughly reviewed by my mentor and apart from the few mistakes; he was particularly concerned that my ratio analysis seemed to require a little more attention. Overall he appreciated my work that helped me to increase my determination. Mr. Laeeq met me for the third time on November 9th 2010 to thoroughly discuss my report before it was submitted to make sure I had followed the guidelines correctly. I was able to finalize my report based on his input and was able to present to him the brief findings of my report. I planned out my work well and had the following outline in my mind always: List and prioritize the goals that you want to accomplish. Clarity and simplicity is the key to success.

Key data should be listed at the beginning. The first impression is what will decide your last impression. Presentations should be attractive, effective and simple. Always include your comments without being shy about them. Be clear about your beliefs and ideas. One of the most important lessons that I learnt during the presentation was the importance of keeping things simple my presentation was devoid of any complexities and lexical confusions and I believe that this was one reason why it went through well. Mr. Laeeq however, pointed out some important facts that he was able to deduce from the facts and figures I presented enabling me to get a broader idea of the financial performance of the banking sector which would come in handy in future. Overall, I feel that my strength of mind towards the project and relentless research on the topic over a long time period provided me with knowledge appropriate enough to competently present my thesis.

How well do you think you have answered your research questions?
As I had stated my research questions very well I did not had to face much difficulty in answering them. I answered my research questions to the best of my knowledge and acquired the necessary skills which I needed to conduct the RAP. I started with gathering information. I examined all the available sources and their reliability and within a week of hard work I was able to gather most of the up-to-date and reliable information about my topic. The research questions that I had to answer required me to utilize all types of information that I could get. I had to define the methods of information gathering and collect all the current literature regarding the topic. For this purpose I conducted meetings with the company employees that proved to be very useful. As my RAP needed very less primary data, I started evaluating the reliability of all the available secondary data. The application of tools such as ratio analysis, SWOT analysis and Porters five forces analysis helped me ensure that I clearly addressed the need for analysis efficiently and effectively. I calculated the financial ratios of the company using its audited annual accounts as these were the most reliable source of secondary data. However, simply analyzing the situation did not completely address the needs of my research questions. As I was very much concerned about the quality of my report, I refreshed my technical skills from all the available sources I had, including my ACCA course study material, student accountant magazine, some reference books and the internet. I allowed enough time to review my draft RAP and a whole day after finalising my RAP; this helped me correct some of the concealed mistakes. To ensure the soundness of the data used in my research I collected substantiate evidence by verifying the same information from other sources which was further verified by the three gentlemen I met in my primary research process. On the whole, I have answered my research questions to the best of my efforts and knowledge. I found the suggested format of the RAP very useful in dealing with my research questions. I believe that this research has given me a lot to think about the financial evaluation of organizations, particularly the banking industry, where it is merely impossible to judge the operations of a company on the basis of a few financials. It is therefore imperative to gather first-hand information from the people running it in order to get a better perspective of the real picture.

How have you demonstrated your interpersonal and communication skills during the project work?
An important aspect of successful communication is effective listening, which includes concentrating on the speaker and use non verbal cues for indicating responses, showing your interest, avoiding interruptions and allowing silence. I listened to my mentors commands cautiously in all the three meetings and where ever I felt something was not clear or I needed to add something I spoke, while making sure that I do not disrupt when he spoke. We also developed a plan of action to approach RAP. At the time of our second meeting we were already comfortable with listening to each others views as a result we were able to resolve the conflicts of opinion that arose during discussion. My interim report needed to be improved in some areas and my mentors helped me identify those areas. Questions were also a major part of our meetings however, in the first meeting it was mainly my mentor asking me general, open-ended questions to assess my interest and knowledge of general industries and trends and thus selecting a topic. By the second meeting I had written any queries I had regarding the banking sector or otherwise relevant to the topic, I kept reading these questions to the mentor and writing short answers in my notebook for later reference. In the third meeting, my mentor put towards me challenging questions with regards to my analysis and presentation findings. Apart from face-to-face meetings, communication was also carried out through e-mails, which was really convenient for both of us. At the end of every meeting, I tried to manage and summarize all the discussion that I learned during the meeting in the form of short points and also made sure that I understood each and everything that he said. Prior to the meetings, I made sure that all the possible sources of distractions were dealt with. I made eye contact, body movement and postures of involvement to make the communication more productive. Interviews with the senior management at Bank AL Habib were also well-organized as the concept of professionalism was kept in mind regarding my attitude, style and dressing. I had to make sure that I phrased my questions in such a way so as to facilitate the other person in answering. What was even more impressive was the support the three gentlemen namely Mr. Atif Rehman, Mr. Khurram Abbas and Mr. Murtaza Ali rendered to me in ensuring that I had all my questions answered. At the end I could conclude that effective listening ensured messages were well received by both of us, and hence, in totality, effective listening and questioning skills coupled by the use of appropriate body language for instance proper eye contact, dressing, verbal and non verbal gestures paid off to polish my communication skills enabling me to make more use of my analytical proficiency.

How has undertaking the RAP helped you in your accountancy studies and/or current employment role?
The research and analysis project helped in practically applying the knowledge clasp throughout the whole ACCA program. It did not only spark my existing skills but also gave a very good example of how to perform in the upcoming practical working life. This was the reason for applying for BSc (Hons) in applied accounting which I think was marvelously met with the help of this project. There are a few learning aspects which ACCA does not cover as such and which this RAP covered well. These are the use of IT skills for educational purposes. The various components of RAP required me to work extensively on different suites and packages thereby polishing my IT skills and enabling me to learn my way around different packages swiftly. Carrying out formal as well as informal meetings with my mentor and interviews with senior management at Bank AL Habib improved my communication and interpersonal skills and taught me how to handle different varied state of affairs effectively. Interacting with the different executives at Bank AL Habib and learning from their experiences was also an inspirational experience for me. These meetings also gave critical insight into the working of these

companies as well as their practices to handle different situations. It also helped in getting to know senior accountants and reputed companies and their best practices that have helped them to progress in their careers. All the textbook knowledge was practically applied during the course of this project and both the financial and business aspects were considered while preparing the project report. This helped in getting a multidimensional view of the company as well as the environment it operates in. This learning also accentuated the use of a broader vision to look at things instead of only focusing at the accounting standpoint. Tools such as ratio analysis, SWOT analysis, and Porters five forces model have been studied by me in my ACCA courses and RAP enabled me to apply them practically. In general I feel that the effort presented towards this project helped me get a clearer understanding of the industry and taught me how to practically apply the knowledge grasped throughout this thesis.

Share This Essay

Did you find this essay useful? Share this essay with your friends and you could win 20 worth of Amazon vouchers. One winner chosen at random each month.

Request Removal
If you are the original writer of this essay and no longer wish to have the essay published on the UK Essays website then please click on the link below to request removal: Request the removal of this essay.

More from UK Essays Need help with your essay?

We offer a bespoke essay writing service and can produce an essay to your exact requirements, written by one of our expert academic writing team. Simply click on the button below to order your essay, you will see an instant price based on your specific needs before the order is processed: Order an Essay - via our secure order system!