Talent performance is a key differentiator in business, separating leaders from laggards, and often drawing the line between profitable and bankrupt operations. For this week’s roundup, Sutherland’s editorial team has gathered some articles from across the web that delve into the subject of F&A skills development. Have a look! (Feel free to tweet us, or follow us @CLARITYes_SGS to continue the conversation…)
Think Outside the Box
The accounting profession is changing, and the following three articles examine how nontraditional skills are playing an increasingly important role within the industry:
When it comes to succeeding as a financial professional, it’s no longer enough to fall back on excellent mathematical skills and financial knowledge. In today’s business climate, people need to master essential skills that fall outside the traditional “finance” box – skills like communication, project management and relationship development – if they want to rise to the top of their field.
It takes a particular type of person to handle the responsibility of managing other people’s money, so employers are understandably choosey when looking to fill positions within the banking, accounting and financial services sector. Jobs and requirements vary, but there are several key skills and personal attributes that are in demand no matter what the position – and none of them are specific to math or finance.
Accounting and finance professionals who have nontraditional accounting skills are in high demand. According to a new survey by specialized staffing firm Accountemps, CFOs value candidates with expertise in general business knowledge, IT, communication, leadership and customer service, in addition to traditional accounting knowledge.
The Flip Side of the Coin
Just as finance professionals are rewarded for having overall business skills and expertise, CEOs are well advised to have a solid understanding of accounting. It’s better for business if the CEO can interpret financial information on their own, without having to rely on accounting departments and financial executives to guide them.
Supply & Demand: Bridging the Skills Gap
It’s all well and fine to identify which skills accountants and CEOs should have, but when finance students aren’t given the necessary framework to begin with, it complicates matters. This article explores how The Institute of Management Accountants (IMA) is helping to address the sector’s skills gap through its new website, which is designed to bring together accounting and finance professionals, students, employers and academics to work toward a common solution.