Management Accounting Feed

management accounting

Management accounting deals with the use of accounting information to managers within an organization. Management accounting provides managers with necessary information to make informed business decisions. Management accounting is essential for an organization to be better equipped and control functions.

 

 

 

 

 

 

 

 

 

 


 

Just Kidding: Humor at Work

HumorI bought the world’s worst thesaurus yesterday. Not only is it terrible, it’s terrible.

I recently read a CGMA Magazine article which reported that more than 75 percent of CFOs in an Accountemps survey said that an employee’s sense of humor was very or somewhat important for fitting into the company’s corporate culture. I was intrigued by this and inspired to do a little more research on the importance of comedy in the workplace and what I could be doing to add a little levity to my remit. Here’s what I found:

  • There’s a reason we call funny people “witty;” a good sense of humor makes you appear more competent and confident
  • Research suggests that teams who joke more, communicate better (WSJ)
  • It matters what “kind” of funny you are, always be authentic and humble (HBR)
  • Use the right medium; humor rarely goes well over email (CGMA Magazine)
  • It’s OK to tell an unfunny joke; it’s not OK to tell an inappropriate joke (HBR)

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"Inconvenience Everybody Equally" and Other Management Tips

Global meetingsMuch has been written on how best to manage virtual teams, but my favorite tidbit is one I recently picked up from Harvard ManageMentor that suggests managers “inconvenience everybody equally.” What I love about this philosophy is that it's as effective as it is simple.

The issue plaguing June Delano, Partner, ClearLake Group (a management consulting firm), was that her team of 17 was spread out across 10 different countries and time zones. They had to meet at least every other week, but scheduling was tough. After a bit of trial and error, June implemented her “inconvenience everybody equally” rule. By rotating the time of the meeting, somebody was always up in the middle of the night and somebody was always in the middle of their workday. Everyone else fell at another point on that spectrum. “It meant that everybody got a chance to be drowsy and falling asleep and everybody got a chance to be wide awake and full of energy,” she said.

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Salsa, Scenery, and the CGMA


BSachdeva-3605Bikram Sachdeva loves salsa and bachata dancing. You might also find him capturing landscapes, skyscapes, and nature scenes with his camera during travels to Senegal, Ghana, Tanzania, Mongolia, El Salvador, Nicaragua, and Jordan—countries where he’s monitored over $ 1.5 billion portfolio of projects.

Sachdeva is a CPA and CGMA, to name just two of five professional designations on his business card. “I hear a lot of stereotypes when people see my business card,” said Sachdeva, director of fiscal accountability at the Millennium Challenge Corporation (MCC), an independent U.S. Government aid agency that works to reduce global poverty through economic growth. “Some people assume that because I’m a CPA, I’m not outgoing. They’re surprised when I tell them I love to dance and take pictures, especially because these interests tend to be outside the norm of what people expect from an accountant.”

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Passion for Performance: A CGMA’s Perspective

Lindsey Branston for AICPA_074Lindsey Branston, CPA, CGMA, is director of financial operations for the 70,000-member BMW Car Club of America and director of finance for the club’s charitable foundation in Greenville, S.C.

What’s your passion?

I’ve been fortunate to join an organization where my passion for strategy and financial analysis fit hand in glove with my love for cars and driving. As a CGMA, I know many financial strategies work on paper, but success depends on a deep understanding of how the club operates and of our members’ needs and desires. Our members are BMW enthusiasts—I’m one too. I go to car events all over the world to keep my finger on the pulse of BMW owner culture. Both my husband and I drive BMWs: an X5 SUV and a 435 convertible. Like many of our members, there’s a car I dream about owning. For me it’s an E9, a coupe built from 1968 to 1975.

How did you end up in a finance job for BMW?

When I was in public accounting, I worked with the BMW Car Club doing their audits. Then I started my own accounting firm and contracted with the club to provide financial management services. Since becoming a CGMA, I’ve expanded the work that I’ve done with the club and the foundation.

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Lifelong Learning and Leadership: A CFO Perspective

YousefAwwadAs CFO of Portland Public Schools in Oregon, Yousef Awwad, CPA, CGMA, manages an operating budget approaching $1.2 billion annually. He is directly responsible for the school district’s finance, budget, purchasing, risk management, publication services and records management functions, comprising a total head count of 70 directors, managers and employees. Before coming to Portland in 2014, Yousef served as finance director for the Arizona Department of Education and as CFO and deputy superintendent for the Tucson Unified School District.

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