OBU SLS

1. Oxford Brookes University BSc (Hons) in
Applied Accounting
SKILLS AND LEARNING STATEMENT
“The financial and business performance of
Pfizer from 1 January 2011 to 31 December
2013”
Name:
ACCA Registration No.:
Word Count:

2. Skills and Learning Statement
My journey in conducting the research and preparing the research report has
been a rich and rewarding experience. I have learned new skills and improved on
those that I already had. The skills have been learnt from my interactions with
my mentor and through reading books and researching through the Internet.
The Skills and Learning Statement gives me the chance to look back on the
journey and reflect on the lessons learned, what went wrong, improvements
needed and what benefit I expect to achieve from undertaking the research. My
reflection will be split into four main sections by providing answers to specific
questions.
1: What did I learn from the meetings with my Project Mentor, including
the presentation I gave to my Project Mentor?
The meetings with my mentor were rich learning grounds. I have learned some
very important skills and lessons from the advice obtained from him. The skills
and lessons learned are described below:
Self-assessment
My mentor advised me to select a research topic that would match the skills that
I am good at. This should be done after conducting and honest self-assessment of
my skills set and my weaknesses. I absolutely related to this advice as my first
attempt on conducting the research and preparing the report ended in failure as
I chose a topic that I had insufficient skills in and was not prepared well.
Following his advice, I conducted the assessment and realised that my skills set
were ideal for research topic number eight, “The business and financial
performance of an organisation over a three year period”.
Planning
The importance of having a plan for achieving an objective was also another
lesson that my mentor taught me. Previously, I would set my set objectives and
targets to achieve but would not have a detailed plan on how I was going to
achieve them. As a result, I sometimes failed to achieve the objectives that I had
set. This was also the case with my first attempt at doing the research which

3. ended in me failing as I did not have detailed plan on what I was going to do and
what I was suppose to produce. I did not submit the project presentation, which
is one of the requirements for obtaining a pass mark, as it was not something
that I had planned for. Based on my previous failures and the advice received
from my mentor, I developed a detailed plan complete with the different tasks
involved and time allocations that were then used to assess my progress.
Time management
My mentor highlighted the importance of managing the time that I had set aside
to complete the research and report. This was something that I had very painful
experiences of during my life as a student. I had marginally failed a couple of my
ACCA exams due to poor time management which saw me spent to much time on
questions with few marks and set aside less time for those questions with more
marks. The order of priority was also wrong as I started with those questions
that were difficult and took much of my time. For this project, I made sure that I
set myself timescales based on the importance and complexity of the tasks
involved and constantly checked my progress to avoid any time overruns. I am
glad that I was able to complete all the tasks set within the budgeted time.
Report writing
Having good ideas is worthless if they are not presented in a way that the
intended audience will understand them. Having have previously failed in my
first attempt of preparing the research report, I was determined not to fail in my
second attempt. To this end my mentor gave me some tips on what a good
research report entails and gave me some titles of books which could help me
perfect my report preparation skills. The knowledge obtained from reading the
books have helped me significantly improve my report writing skills and
produce a report which, in my view, of a higher standard and quality than my
previous attempts.
Presentation skills
As this was one of the areas that I failed in my previous attempt, I was
determined to get it right this time. My mentor gave me some advice on what
was required of me and also shared with me some of his techniques that he uses
in preparing presentations used for teaching. He also gave me some books to
read on the subject that he himself used to improve his presentation skills. Based
on his advice and from reading the books, I was able to prepare the research
findings presentation and deliver the actual presentation, which based on the

4. initial response gathered from the audience that I made the presentation to, I
had done a good job.
2: To what extent do you think you have achieved the RAP research
objectives you set?
The main aim of the research was to analyse the business and financial
performance of an Pfizer over a three year period from January 2011 to
December 2013. To successfully achieve this aim, I had to set a couple of
research objectives which could enable me break down the main aim into
smaller manageable objectives as shown below:
a) Identify the factors that can have an influence on the performance of
companies in the pharmaceutical industry.
b) Identify Pfizer’s strengths and weaknesses.
c) Identify the factors that have affected Pfizer’s financial performance fro
January 2011 to December 2013.
d) Advice Pfizer on what can be done to improve their business and financial
performance.
Having set these research objectives, I then developed some research questions
which would help me focus on the main areas that I needed to concentrate on in
order to achieve the research objectives. The research questions are as shown
below:
a) How does the general business environment affect the business and
financial performance of pharmaceutical companies?
b) What are the opportunities and threats that Pfizer faces?
c) What are the factors that provide Pfizer with its strengths and
weaknesses?
d) How has Pfizer performed financially from January 2011 to December
2013?
e) What can Pfizer do to improve its business and financial performance?
By seeking the answers to these research questions, I would be directly
contributing towards the achievement of the research objectives. The answers to
the research questions were obtained by using different tools such as PESTEL,
SWOT and ratio analysis and the information gathered from different sources.
PESTEL tool was used to gather information and provide answers to question
number one. The environment that the pharmaceutical companies operate was
analysed to identify the factors that could affect the business and financial
performance of companies.
The SWOT tool was then used to get answers to research question two and three.
The opportunities and threats as presented by the general environment and
identified using the PESTEL tool as well as the weaknesses and strengths found
within Pfizer were identified and summarised.

5. Answers to question four were obtained by using ratio analysis on the financial
statements of Pfizer from 2011 to 2013. Information from various sources was
obtained and used to assist in getting a good understanding of the behaviour of
the ratios.
This approach successfully enabled me get the answers to all the four research
questions set and achieve the research objectives and aims.
This systematic approach to performing the research has led me to believe that I
have successfully achieved the aims of the research project

6. 3: How has undertaking the RAP helped me in my accountancy studies
and/or current employment role?
My studies and current employment role will benefit from my participation in
this process.
My studies will benefit from the improvement in my planning and time
management skills. I will now be able to plan my studies much better so as to
achieve all the objectives set within the available time. I will also be able to plan
my answers to the exam questions such that I am able to complete all the
questions in the time allowed.
My report writing and presentation skills should also enable me present my
exam answers using the most appropriate format in a well structured way that
can easily be understood.
The experience obtained from using the PESTEL, SWOT and ratio analysis tools
in conducting the research will enable me apply them effectively in the ACCA
exam paper P3, which deals with Business Analysis.
My current employment role as an accountant will also benefit from the
knowledge and skills obtained from this project. The reports that I prepare for
my superiors are going to see huge improvements. I will also be able to
contribute more effectively in the meetings conducted following my improved
confidence obtained from the presentation that I made to my mentor and
colleagues.
Meeting set deadlines is another benefit that my current employment role will
experience. My new planning and time management skills should enable me plan
and execute my tasks more effectively and efficiently and ultimately complete
them within the assigned time.

7. 4: How have I demonstrated my interpersonal and communication skills
during the project work?
The whole process of conducting the research and preparing the corresponding
report has required me use good and effective interpersonal and communication
skills.
The meetings that I conducted with my mentor required good interpersonal and
communication skills. The meetings required me to listen effectively to my
mentor without any unnecessary interruptions, provide feedback on the process
by way of asking questions. I also ensured that my body language was
appropriate and gave the impression that I was focused on what was going on.
Maintaining eye contact at all times without being intimidating, good posture
and dressing appropriately are just some of the interpersonal and
communication aspects that I demonstrated.
The report preparation also provided another avenue fordemonstrating good
communication skills. I made sure that the report was prepared such that it
presented my findings effectively. The way I chose to present the information
was crucial in achieving this. Numeric financial information was presented in
tables and charts which made it easier to understand. The use of section titles
and numbering enabled easy referencing. Appropriate language was also used to
enable the intended audience understand It well.
The presentation made to my mentor and fellow students was another way that I
demonstrated good interpersonal and communication skills. I had to summarise
my findings into a handful of PowerPoint slides and still be able to communicate
them effectively to the audience. The way I conducted the presentation was
crucial in demonstrating good communication skills. The venue selected was
appropriate, free from noise and had good lighting. The language, tone and
volume used during the presentation were appropriate and everyone was able to
hear and understand me well. I displayed high levels of confidence and good
posture to keep the audience focused and engaged in the presentation. At the
end of the presentation, I provided an opportunity for the audience to ask
questions on any issues that were not clear and effectively responded to them.
Lastly I displayed good interpersonal and communication skills in the way I dealt
with my family demands. I had to balance my time between family matters and
studies as well as conducting the research and had to make my family appreciate
the challenges that I was facing.