Final answer:
After submitting an Accounting Configuration, expect the system to align with business reporting needs and to help in decision-making. Reflection on the objectives, challenges, and impact should be documented in a portfolio entry, showing application of accounting principles.
Step-by-step explanation:
When you have completed and submitted the Accounting Configuration for a client or within an organization, there are typically two primary outcomes to expect. Firstly, the accounting system should now reflect the operation and reporting needs of the business, ensuring that financial data is recorded and categorized correctly. Secondly, it should provide the necessary foundation for generating analytical reports and facilitating decision-making processes at various levels.
Cover letters or journal entries added to a portfolio should address questions such as the objectives met through the configuration, the challenges faced and how they were overcome, and the impact the configuration will have on the efficiency and accuracy of financial reporting. This reflection is crucial as it demonstrates your analytical thinking and how you apply accounting principles in a practical setting.