Here's how you can respond to feedback in Corporate Accounting without making common mistakes.

Receiving feedback is a crucial part of growth in corporate accounting, a field where precision and adherence to financial regulations are paramount. When you get feedback on your work, it's an opportunity to refine your skills and enhance the quality of your reporting. Whether the feedback is about a simple ledger entry or a complex financial statement, your response can either pave the way for professional development or lead to repeated mistakes. It's essential to approach feedback with an open mind and a commitment to improvement, ensuring that your work continues to meet the high standards expected in corporate accounting.

1 Listen First

Active listening is the cornerstone of effectively responding to feedback. When you're given critique or suggestions, make sure to fully understand the points being made before responding. This means not only hearing but also processing the information, which can sometimes involve complex accounting principles or practices. By showing that you value the feedback and are willing to consider it thoughtfully, you demonstrate professionalism and a willingness to learn, which are highly regarded traits in the field of corporate accounting.

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Muhammad Waleed Abdul Sattar

Chief Accountant at Almahdod Quick Architectural Construction Company
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Here are some tips to avoid common mistakes: 1. Pay attention attentively 2. Give Appreciation and Acknowledgement 3. Remain Calm and Professional 4. Adopt Accountability 5. Provide a Detailed Answer. 6. Formulate an Improvement Strategy 7. Monitor 8. Gain Knowledge and Adjust. 9. Always seek for improvement

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2 Clarify Doubts

If any part of the feedback is unclear, don't hesitate to ask for clarification. It's better to seek further explanation than to make assumptions that could lead to errors in your accounting work. Remember, accounting often deals with intricate details and regulations, so grasping the full context of the feedback is crucial for accurate financial reporting. Clarifying doubts also shows that you are engaged and proactive about your professional growth.

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3 Reflect Objectively

Take time to reflect on the feedback objectively, separating personal feelings from professional critique. In corporate accounting, feedback is typically aimed at ensuring compliance with accounting standards and improving the accuracy of financial data. Reflecting objectively helps you understand how the feedback can be applied to your work to enhance your performance and contribute positively to your team's efforts.

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4 Plan Your Action

Once you've understood and reflected on the feedback, create an actionable plan to address the points raised. In corporate accounting, this might involve revising financial statements, adjusting accounting methods, or improving internal controls. Your plan should be specific and measurable, ensuring that you can track your progress and demonstrate your commitment to implementing the feedback.

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5 Execute Changes

Implementing changes based on feedback is where you can truly show your adaptability and dedication to excellence in corporate accounting. This could involve reworking financial reports, adopting new accounting software features, or improving your communication with stakeholders. By executing changes effectively, you not only improve your work but also contribute to the reliability and integrity of your company's financial information.

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6 Follow Up

After making changes, it’s important to follow up on the feedback you received. This might mean reviewing your work with the person who provided the initial feedback or monitoring the outcomes of the changes you implemented. Following up shows that you take feedback seriously and are committed to continuous improvement in your role within corporate accounting.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Mannir Musa, ACA, ACTI, MBA

Team Lead, Group Internal Audit
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At the center of today's corporate accounting is collaboration. It's impossible to be an effective corporate accountant if you're not able to engage with others. Feedback is a critical part of that engagement. Your receptiveness to feedback impact how others open up to you on matters that could affect your deliverables and ultimately your performance. The growing complexity of corporate accounting and reporting ushered by today's ever-changing world of business has made the business partnering role of corporate accountants even more collaborative and impossible to do for a corporate accountant who is not open to feedback.

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Here's how you can respond to feedback in Corporate Accounting without making common mistakes.

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1 Listen First

2 Clarify Doubts

3 Reflect Objectively

4 Plan Your Action

5 Execute Changes

6 Follow Up

7 Here’s what else to consider

Corporate Accounting

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