Examine the Impact of Accounting and Finance
Accounting and finance each play a crucial role in understanding the performance of an organization through the various reports they create. Generally, different internal managers and possibly external stakeholders (bankers, CPA firms, etc.) will have access to the various financial reports. It is rarer that the reports are shared with other employees. For this discussion, think about your current job or think back to a prior job, and answer B below:
B. In your place of work, you have (or had) access to accounting and financial reports, and given what you just read in the Peregrine modules, how did you use the reports from accounting and/or financial information in the performance of your job? Briefly describe your career and how you used the information about your company’s financial position in your job performance.
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In my career as a Safety Manager in the U.S. Navy and now transitioning into civilian Environmental Health and Safety (EHS) roles, I’ve had periodic access to accounting and financial reports, particularly when involved in budgeting for safety initiatives, training programs, and compliance upgrades.
While my primary focus was not in finance, understanding the organization’s financial position was essential for strategic decision-making. For example, when proposing new personal protective equipment (PPE) upgrades or requesting funding for safety training, I had to align these needs with available budgetary allocations. I often collaborated with logistics and finance personnel to ensure that purchases stayed within approved funding lines and justified expenses with data tied to risk reduction or compliance requirements.
Additionally, during safety inspections and audits, financial reports helped me assess the feasibility of corrective actions. If deficiencies required capital improvements—like upgrading fire suppression systems or hazardous materials storage—I had to present cost-benefit analyses and understand funding cycles to plan effectively.
Overall, access to financial information enabled me to prioritize safety needs, advocate for necessary investments, and support a proactive safety culture without exceeding operational budgets.
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