The purpose of your company’s administrative function is to support what your company sells. Support consists of departments like finance, human resources, and information technology; future articles will describe these departments in greater detail. The focus of this article is on administration as a whole.
In this video, Stefan Spiegel, CFO at Swiss Railway Freight Logistics (SBB Cargo AG), talks about the program that they used in SBB Cargo to replace management accounting. Instead of using a classical cost-accounting system, SBB Cargo switched to Intelligent business simulation engine.
Professional portfolios have always been the expected norm for creative, visual occupations, everything from computer-aided design, photography, artwork, interior design to runway models. Until recently, this was not an option for the finance professional, a non-visual occupation. Finance professionals have typically taken the approach to lengthy résumés, detailing employment history and outlining routine tasks performed.
In a recent ACCA survey about the future of the accountancy professional, digital is listed as one of the 7 quotients for success. ACCA defines digital as “the awareness and application of existing and emerging digital technologies, capabilities, practices, strategies and culture”. One of the more talked about area in technology is artificial intelligence. This article attempts to explore whether artificial intelligence can replace people in the FP&A arena.
Strong programming skills (R, SQL, Python, VBA) are coming up frequently as requirements to be successful in FP&A. Those who have not caught up with this yet need to do so.
What about strong people skills?
The opposition showed their teeth over the past fortnight, by allying to take control of the Parliamentary agenda and pass a law extending Brexit by three months. Remainers have triumphed, pushing the exit date out to 31st January 2020. The Conservative party has lost its majority and cannot even call a General Election, to attempt to resolve the issue. Notwithstanding this, Prime Minister Boris Johnson appears to be determined to leave by 31st October 2019.