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.
What keeps CFOs up at night? Quite a few things, as it turns out. Increased global competition, the volatile economy, cybersecurity risks and an overwhelming amount of big data—to name a few topics. But it’s another subject which consistently comes up in my conversations with CFOs and other finance leaders, that hits even closer to home: talent. Today’s finance departments have a real need for the right team with the right mix of skills and competencies, not only in accounting, but in business, leadership, communications and other non-financial disciplines.
I’ve spoken to many executives whose organizations don’t have the resources or funding (or neither) to provide the full range of learning opportunities to their employees. According to a study by Deloitte, “Leadership and learning have dramatically increased in importance, but companies seem less capable to address those challenges. While the importance of learning and development quadrupled compared with last year, companies have struggled to redesign the training environment, incorporate new technologies, or employ digital learning tools.”
Continue reading "The Secret to Retaining Top Talent? Development" »
Between the demands of the job I love, my travel schedule (hectic even when the flights are hassle-free and on time) and my family commitments, there’s just not much time left in the day. Sound familiar? In our profession, sometimes “free time” seems like a non-existent commodity.
On top of all of this, I’m always looking for opportunities for learning. But when? And with so many great options for CPE coming from so many varied sources, wading through it all can be both daunting and time prohibitive.
At the airport recently, I had a little time to kill before my flight and thought it would be the perfect opportunity for some CPE. Instead of searching several different sources, I went straight to the new AICPA | CIMA Competency and Learning website.
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The AICPA’s CPA Outlook Index (CPAOI) fell four points in the first quarter, the first time the Index has dropped in more than two years. The Index, which polls chief executive officers, chief financial officers and controllers, found these executives were tempering their expectations for profit, revenue and expansion in the coming year.
Optimism about those key performance indicators still remains high, but the survey found a decline in sentiment since last quarter. The one survey measure to rise from the previous quarter was sentiment about the US economy, which found that 68 percent of respondents are now optimistic about the U.S. economy, a new high for the survey.
Continue reading "CPA Outlook Index Finds Increased Optimism for US Economy, Lowered Expectations Elsewhere" »
Did you see “Moneyball?” It was a fascinating look at how an underperforming professional baseball team used big data (player stats and figures) and computer-generated analytics to identify and hire high value players who were available at low salaries. To the surprise of everyone, it gave the once hapless team a decidedly competitive advantage on the playing field.
That’s the power of big data.
Today, big data is big news in the global marketplace, as organizations look for their own competitive advantages. Should we be surprised? Big data offers unlimited potential to change the way business is done, for almost any type of company. In a recent CGMA survey, almost nine out of 10 finance professionals agreed the revolution is not only coming, it’s already here.
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Almost overnight, organizations have found themselves managing an entirely new paradigm: the open workforce. Driven by globalization, technological advances and a constantly fluctuating market, businesses must now look for expertise from new sources to work with their in-house teams. This new talent includes a complex mix of local and international freelancers, contractors, consultants and businesses partners.
New CGMA research shows that in more than a quarter of all organizations globally, at least 50 percent of talent is external. While the open workforce trend started in the US and Canada, it is expected to become the norm for more than a third of organizations worldwide within the next five years.
Continue reading "The Open Workforce Presents New Challenges (and Opportunities) for Finance Professionals" »