This article is my sequel to my previously published “Can Accountants Grow the Beans Too?” article posted this past January, 2019.
Despite some advances in the application of new costing techniques such as activity-based costing, are management accountants and FP&A professionals adequately satisfying the needs of managers and employee teams for decision-based cost information?
Ever notice how the personalities and dispositions of animals often resemble humans'? An organisation’s pursuit of adopting FP&A involves personalities of all types. How are they like the creatures that populate our planet? Here is a zoology of analogous types of employees that you might recognise.
How many people in your organization love the annual budgeting process? Probably none. The mere mention of the word "budget" raises eyebrows and evokes cynicism.
Usually I am fairly rational and do not let my personal emotions interfere with how I interact with others. However, as the readers of my blogs and articles may have detected, my more recent writings increasingly reflect my frustrations with old school accountants.
A paradox which continues to puzzle me is how chief financial officers (CFOs) and controllers can be aware that their managerial accounting data is flawed and misleading, yet not take action to do anything about it.
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Generally, certified accountants have not had a reputation for deep involvement with operations, marketing, and sales management nor being a strategic advisor to their executive team, although articles by the media, consulting firms, and IT analysts have been claiming this is a trend and direction for them.
Business schools tend to divide their curriculum between hard quantitative-oriented courses, such as operations management and finance; and soft behavioral courses, such as change management, ethics and leadership. This separation of the curriculum is like chambers in a mansion.
This article is my sequel to my previously published “Can Accountants Grow the Beans Too?” article posted this past January, 2019.
Despite some advances in the application of new costing techniques such as activity-based costing, are management accountants and FP&A professionals adequately satisfying the needs of managers and employee teams for decision-based cost information?