...Management Accountants Aileen Davey Adrian France* *Waikato Institute of Technology (Wintec) Tristram Street Private Bag 3036 Hamilton 2020 New Zealand Telephone: (07) 8348800 ext 8519 Fax: (07) 8348802 Email: Adrian.france@wintec.ac.nz Abstract In New Zealand there have been a number of articles about the changing profile of accountants in today’s environment. Recent debate is focusing on the goal congruence of educators and practitioners. Professional accounting bodies are also identifying the changing needs of the accounting professionals’ skill sets as a key area of future focus irrespective of what job title the accounting professionals operates under. This paper seeks to identify the key skills and characteristics of management accountants which are being looked for by employers in today’s market. Situations vacant for management accountants were surveyed. The results indicated that communication skills were advertised the most frequently, marginally ahead of technical skills. Of the Characteristics leadership was most frequently advertised. The survey in this paper confirmed the practitioners actions in situations vacant advertising are congruent with their requirements profiled as essential skills in potential employees, today’s students. Keywords: Skills, characteristics, management accountant, situations vacant, advertising. Advertised Skills and Characteristics of Management Accountants Boer...
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...As an accountant, it is vital to have excellent communication skills. Communication skills can be verbal, written, or non-verbal. When giving presentations, an accountant should keep in mind the audience, their body language, and personal presentation. Accountants also need to be well aware of non-verbal communication when interacting with top management and co-workers. Non-verbal messages receive more attention than verbal messages. Accountants have to make sure this doesn’t happen when they are dealing with clients because it could possibly offend the clients. The accountant should know the client’s background briefly in order to respect cultural differences. Communication skills are needed daily to be an accountant because it creates a confident relationship with clients. Accountants have to work as a team to reach the goals for their firms daily. In their field, accountants need to be team players. The accounting field has various types of departments such as a billing clerk, bookkeeper, budget analyst, cost accountant, payables clerk, tax accountant and many others. When dealing with clients, it sometimes requires three or four other accountants, from different departments, to work together to give the client the best service. As accountants, they must be prepared to commit to the goals and tasks given to them. Each day they also will need to learn to cooperate well with their team members. If they are having trouble completing a task, accountants should communicate...
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...Evaluating Business Communication BCOM/230 During week four, our Learning Team was assigned with writing several business communication reports to several different levels of management within the organization. There was a communication from the Accountant Manager to the CEO, Staff Accountant to peer, Staff Accountant to Sales Manager and Accountant Manager to the Ad Hoc Committee. In the communication from the Accountant Manager to the CEO, the message was conveyed appropriately, the communication was sent in a formal report, which was appropriate for the audience, the communication was appropriate level, the leadership style affected the communication, and the communication was ethically sound and did not share more information than needed. All communications in the report sent relayed the intended messages very well. However, the communication from the Accountant Manager to the CEO is a great example of a formal communication. At first, the communication was going to be sent as a memo, but after careful consideration, a formal report was created instead. This was the best form of communication sent to the CEO due to being the appropriate level for his position within the company. The report was written using very good word choices for the audience. There was not a lot of accounting jargon used or the use of overly big words. The report was well worded for anyone at any reading level to have read. However, well written the report could have had some visible numbers to...
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...Chapter 1 Summary Accountants as Communicators Accountants need to understand the importance of communication as many employers are stressing the importance of it. Accountants that can communicate are better suited for the work environment. Employers are starting to place importance on these skills then they are technical accounting skills. This chapter focuses on how accountants should write and how it affects your work and problem solving. It is important to keep in mind that writing is essential to accountants. Accountants have to be able to read and write on an everyday basis. For example tax accountants have to write memos to describe the results that they found and at times they must write letters to the internal revenue service for their clients. Auditors for example have to write memos to file in the audit working papers that are essential to any audit. After the audit is completed auditors must be able to write a letter to management advising them on any changes that should be made. Accountants at times have the responsibility to write footnote disclosures in financial statements and at times accountants were using very technical language. This resulted in many investors being misinformed due to the fact that not ever investor is an accountant. The Securities and Exchange Commission issued a disclosure rule that stated to write these notes in “plain English.” They are seven tips that writers recommend for business writing. These seven are content, critical thinking...
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...Running head: Forensic accountant 1 Forensic Accountant Tanya Pace Dr. Gina Zaffino Bus 508, Contemporary Business 11/16/2012 Running head: Forensic Accountant 2 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills that a forensic account would need are communication skills, detail oriented, professional and ethical behavior, sound judgment and discretion. Communication skills are vital in any profession. It allows you to convey information for others to receive. The problem with communication is that it can be interpreted differently by other intended parties. As a forensic accountant, communication skills, verbal and non verbal, are important...
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...Business Research: Characteristics and Skills of the Forensic Accountant Ellen Lapid LeBlond RES/351 June 15, 2015 Dr. Jennie Wagner Business Research: Characteristics and Skills of the Forensic Accountant I have long been interested in Forensic Accounting, I find this field of accounting very fascinating and in this article the authors are researching what are the important specialized skills and technical abilities of Forensic Accountants. The authors conducted the business research by surveying three groups of individuals: (1) CPA’s who are working as forensic accountants, (2) lawyers who employ the services of forensic accountants, and (3) academics in the field, which are accounting professors. The survey was given to the three groups in a questionnaire format and it was divided into eight sections, which are demographics, areas of specialty for forensic accountant, traits and skills of forensic accountant, credentials for forensic accountants, protocols and abilities, effectiveness of forensic accountants, the need for additional specialization, and educational issues. The authors surveyed these particular groups because they wanted viewpoints from the forensic accountants, who provides the services and the lawyers, who employs their services. They also surveyed the academics because they develop the curricula of auditing and forensic accounting. The authors utilized an online survey program to field out the questionnaire to the three groups...
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...The Language and Culture of the Accountant, Auditor and Forensic Accountant Jerry Brockman Davenport University Abstract The overall purpose of this Professional Language and Culture report is to detail the accountant’s communication style and culture, as well as, their specialized language. The report begins with a brief discussion of the origin of accounting, as well as, the distinction between bookkeeping and accounting. Additionally, an examination of the Financial Accounting Standards Board (FASB) provides insight into the culture, ethical values and professional standards of accountants. Other areas of discussion in this report are the voice and tone used in various forms of communication by the accountant. Also, included in this report is an excerpt from an interview of an accounting professional as well as an example from a journal article. These artifacts will provide the reader with examples of the mind-set and communication style of the accountant. Finally, this report concludes with an examination of the auditor’s as well as the forensic accountant’s culture and communication style. Table of Contents Contents Abstract 2 Table of Contents 3 Accounting has been around for centuries.. 4 Professional Standards and Ethics 4 Culture of Professional Standards 5 Language of Business 6 Voice and Tone 6 Specialized Areas of Accounting 7 Communication 8 Forensic Accounting 8 Communication 9 Conclusion 9 References 11 Appendix A 13 Appendix...
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...belief, accounting is not a “walk-in-the-park” career. Accountants do not sit at a desk one-hundred percent of the time crunching numbers that always add up perfectly. In fact, accounting fraud is one of the largest scandals found today. When an accountant enters an engagement with a client, who are they liable to? Certainly not just to the client, but also anyone who could negatively be affected by a material misstatement, as well as the government. These responsibilities are not easily assumed, nor are they equally distributed. Accountants assume a large responsibility to their clients. They enter a contractual agreement through an engagement letter, and use engagement letters to minimize the risk they assume under the contract. Many engagement letters include memos limiting the recovery. (Reinstein, Lobingier, & Green, 2009) Accountants expressly agree to do a project by a specific date, and imply that the work will be completed carefully. If an accountant breaches the contract, they can be found liable for damages. If it can be found that an accountant did not act with skill and competence, causing harm to their client, negligence can be proved. Accountants also may be found guilty of fraud. Fraud can be proved if an accountant makes a false statement, knowing it is false, and the client relies on the information, resulting in damages. Another liability to the client is the trust clients give their accountants. They are liable to keep the information confidential...
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...Contemporary Business Forensic Accountants Forensic accounting is accounting that result from actual or anticipated legal disputes. Forensic accountants are the auditors of the forensic accounting practice. They investigate, coordinate data and offer their evidence in trial; and because it is forensic business, the evidence they find is suitable to present and will hold its proof in a court trail. Forensic accountants usually engage in different sectors of the business world; economics, finance, accounting, business management and marketing, to name a few. They utilize their understanding of these different sectors to gather and investigate data that will be used in litigation. Currently though, we live in a world in which financial fraud is becoming increasingly more prevalent. Forensic accountants are expanding their roles and venturing into financial fraud prevention. Forensic accountants are utilizing their skills and designing policies to reduce the risk of fraud, and working closely fraud deterrence research. To be a forensic accountant, the individual needs to possess certain skills and abilities to effectively perform the tasks at hand. A forensic accountant needs to have excellent communication skills, both in oral and the written language. Communication is the effective way to convey thoughts, messages and information. It requires the individual to actively convey the message to the receiving party. The communication is complete when the receiving...
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...business fraud, forensic accountants are in great demand. Forensic accounting is the practice of utilizing accounting, investigative, organizational, analytical and communicational skills to conduct examination into a company’s financial statements in legal matters (Crumbley, 2007). Forensic accountants can own their own accounting firms or be employed by lawyers, insurance companies, banks, or large corporations. The use of accountants has played an important role in assisting the government as well as the public. Forensic Accountants participate in detecting scandals and financial crimes caused by individuals, companies and organized crime networks. This profession consists of three main areas litigation support, investigation and dispute resolution (Harris, 200). Litigation support involves the factual arrangement of financial issues, investigation comes in when criminal matters have occurred, and the dispute resolution is the process of bringing justice and fairness. To work effectively within these three core components, forensic accounts must have a set of skills to perform their job efficiently. Important Skills Forensic Accountants must posses more than the fundamental knowledge of financial accounting and auditing. Each project requires analysis, interpretation, summarization and presentation of complex financial- and business-related issues (Matson, 2012). There are several core skills that are required and expected for the accountant to perform their job proficiently...
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...Working as an accountant is more complex than simply crunching numbers. A successful accountant must possess a particular set of skills, both with handling massive amounts of money-related information and with navigating the sphere in which he works. This is because accountants can work in one of several fields, including working for the public, the government or major corporations. According to the IFAC, international federation of accountants, “the attitude and skills professional accountants require are grouped under five main headings: (a) Intellectual skills (b) Technical and functional skills (c) Personal skills (d) Interpersonal and communication skills and (e) Organizational and business management skills. Above all, an attitude of continual inquiry and life –long learning is essential. An attitude of accepting and seeking continual improvement, both of self and the profession will lead to life-long learning.” Intellectual skills enable a professional accountant to understand the determining forces in a given situation and to predict their effects. Other intellectual skills include the capacities for inquiry, abstract logical thinking, inductive and deductive reasoning and critical analysis. The ability to identify and solve unstructured problems in unfamiliar settings and to apply problem-solving skills in a consultative process is also an important intellectual skill to possess as an accountant. A professional accountant encompassing these traits will have the...
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...In 2012, accountants were in the top 10 demand for job professions. The demand for accountants in the business industry is still constantly increasing each year. Coming into 2015, we are even expecting higher percentage increases in salary for public accountants ranging from 3-4%. However, with this high demand, the profession only becomes more aggressively competitive. The minimum degree requirement for accountants is a bachelor’s, while a Master’s is preferred by majority of firms. Firms are constantly seeking newly graduates each year, making the desire for an accounting degree highly sought after. Due to this, students seeking accounting as their future profession must have a strong set of acquired skills in order to keep up and stand out from the crowd. General accounting is becoming a skill acquired by many business professionals. More all-around skills are valued as employers seek for the best and top in this field. Technical skills alone are simply not enough, as employers seek for versatility, communication skills, and the all-around package. Communication skills are key in standing apart from others in a competitive field such as accounting. As a matter of a fact, it is a lacking skill in today’s modern world of social media and texting. For young accountants, these stressed skills may be what land that promotion or helps get on the fast track at a firm. Communication is critical in building client relationships and working on team projects with other departments...
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...practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet, cash book, cash flow statement, income and expenditure accounts. The application of Information and Communication Technology (ICT), on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. It is obvious that the biggest impact of Information and Communication Technology (ICT) has been made on accounting; and it is the ability of companies to develop and use computerized system to track and record financial transactions...
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...practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet, cash book, cash flow statement, income and expenditure accounts. The application of Information and Communication Technology (ICT), on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. It is obvious that the biggest impact of Information and Communication Technology (ICT) has been made on accounting; and it is the ability of companies to develop and use computerized system to track and record financial transactions...
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...forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills that a forensic account would need are communication skills, detail oriented, professional and ethical behavior, sound judgment and discretion. Communication skills are vital in any profession. It allows you to convey information for others to receive. The problem with communication is that it can be interpreted differently by other intended parties. As a forensic accountant, communication skills, verbal and non-verbal, are important when it comes to conducting interviews and gathering information. After gathering the records, forensic accountants often conduct interviews with the accused and other involved parties to get individual stories about the irregularities. Forensic accountants have...
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