Assessment Description:

Making decisions often involves financial and nonfinancial factors. Provide a hypothetical example from your personal life of a situation in which you would consider both financial and nonfinancial factors. What factors would be considered?

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SOLUTION to ACC 240: Fundamentals of Accounting- Topic 7 DQ 2.

Hello class,

As an Emergency Room (ER) nurse, I frequently encounter situations where both financial and nonfinancial factors play crucial roles in decision-making. A hypothetical example from my personal life where I would consider both types of factors is deciding whether to accept a night shift position in the ER or maintain my current day shift schedule. From a financial point of view, I would start with the aspect of pay that is in line with working at night. Commonly, shift allowances for night shift vary from $5 to $15 for each shift (Stimpfel et al., 2019). This additional income could make a difference as it can be used to pay off student loans earlier or even save for future education. I would also consider the aspect of being able to save on the costs of transport as there would be favorable traffic patterns during certain time of the day than during others.

However, the nonfinancial factors in this decision are equally important. Working night shifts can disrupt circadian rhythms, potentially leading to sleep disorders, fatigue, and decreased overall well-being (Boivin et al., 2022). Understanding the significance of health promotion for healthcare practitioners to deliver the finest care to patients is critical for me as a healthcare professional. Thus, I would need to analyze the implications of this change in terms of physical health, mental health, and the opportunity for job performance. Additionally, I would consider the impact on my personal relationships and social life. Night shifts could limit my ability to spend time with family and friends who operate on traditional schedules.

Nonetheless, the decision as to whether to accept a night shift position in the ER or maintain my current day shift schedule would necessitate weighing of monetary benefits against self and employment interests and ideal career interests. I believe that by looking not only at the financial perspective but also at the non-financial one it is possible to make a better choice that will conform to my life goal and values.

References

Boivin, D. B., Boudreau, P., & Kosmadopoulos, A. (2022). Disturbance of the circadian system in shift work and its health impact. Journal of Biological Rhythms, 37(1), 3-28. https://doi.org/10.1177/07487304211064218

Stimpfel, A. W., Fletcher, J., & Kovner, C. T. (2019). A comparison of scheduling, work hours, overtime, and work preferences across four cohorts of newly licensed registered nurses. Journal of Advanced Nursing, 75(9), 1902-1910. https://doi.org/10.1111/jan.13972