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.
What are behavioral forensics? Why would accountants and financial analysts and planners even need to consider behavior. Behavioral economics and behavioral finance tackle the issue of how people make economic and financial decisions if they are not completely rational.
There are different financial indicators to monitor the financial results of a company. Focussing on ‘value creation’ is sometimes considered ‘rocket science’ for the local management team. However, by explaining the steps of calculating ‘value’, management will quickly see what is meant by it and how they create it.