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Re:Evolution of the Accountant (1 viewing) (1) Guest

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TOPIC: Re:Evolution of the Accountant
#1476
Evolution of the Accountant 5 Years, 2 Months ago Karma: 0  
Get ready for yet more change. In a recent survey by Robert Half Management Resources, chief financial officers interviewed said they expect issues outside of traditional accounting functions to occupy 40 percent of a senior-level accountant's time five years from now (up from 36 percent now). More than 25% of respondents said these issues would require as much as 50% of a senior-accountant's time in the coming years.

The increased focus on cost savings and liquidity highlights the impotance of the finance function and senior-level accounting and finance managers are being asked to step into leadership roles.

Are you ready? And is this change a good change?
 
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#1485
Re:Evolution of the Accountant 5 Years, 2 Months ago Karma: 2  
So, I'm wondering what exactly the other functions are that senior accounting executives will be doing? 50% is a lot of time. And also what are the implications for training? Starting at the business school level, does this mean people on this track need to learn different things? Should they receive coaching on the job?
 
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#1494
Re:Evolution of the Accountant 5 Years, 2 Months ago Karma: 0  
Hey Anne,

You got me curious so I went back to Robert Half for a bit more input about just what those senior accounting professionals might be doing....The word from them is that they will be required to give advice and counsel to other department managers because of their broad knowledge of expenses, revenues, and overall company operations.

There will also be more input on information technology proejcts: Highly experienced accountants should be able to analyze, from a cost-benefit standpoint, the efficacy of an IT or systems upgrade. The advice they give on implementing such projects would be an important factor and highly valued, particularly when considering ERP systems.

And building relationships...Senior level accountants may need to form relationships with other operational managers, functional counterparts, bankers, insurance companies, accounting firms, lawyers, customers and suppliers. The benefits of establishing these relationships are that it helps ensure accurate financial reporting and more informed decision making.

As for training, they will need to improve those soft, interpersonal skills, not just the technical accounting skills.
 
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#1525
Re:Evolution of the Accountant 5 Years, 2 Months ago Karma: 0  
Tell you the truth, I've never understood why a company didn't embed an accountant (with good tech chops) in its IT department.

That employee would report directly to the CFO, not the head of tech. That way, finance folks wouldn't be bamboozled when tech comes looking for big bucks for projects that aren't critical, or won't help growing the business.
 
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#1529
Re:Evolution of the Accountant 5 Years, 2 Months ago Karma: 2  
I think it might be a good idea to put an accountant in IT. But I also wonder what the politics of that would be. Wouldn't there be enormous animosity between the accountant and the IT department? I wouldn't want to be that accountant, even if he he or she does report to the CFO.

Do you know of other similar situations? Where an accountant was placed in a department and then reported to the CFO?
 
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#2795
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Re:Evolution of the Accountant 3 Years ago Karma: 0  
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