Effective finance functions can bring great value to every organisation. Whether in times of economic growth, recession or gradual recovery, finance professionals need to provide the information required for managers to make strategic decisions and achieve day-to-day operational success.
This forum looks at how talent management can shape and influence the structure of finance functions, and will highlight some of the practices organisations should be adopting in order to deliver the best possible talent development for finance professionals.
For more information or to register for this conference, please click here
‘Finance Transformation’ - There’s No Turning Back From Shared Services and Outsourcing say Experts
There is ‘no turning back’ from finance shared services and outsourcing as a future delivery model for the finance function, say finance experts from 20 leading global organisations including Coca Cola, Deloitte, PwC, Shell, Unilever and WPP, in a new report from ACCA called Finance Transformation: expert insights on shared services and outsourcing.
The report reveals that the use of finance shared services and outsourcing to transform the finance function is here to stay, with gains already made in reducing costs and improving processes.
To download the key findings of this report, please click here
To download the full report, please click here
Professional Development More Reliant on e-technologies Now and in the Future
Online approaches to learning and assessment are making a huge impact on professional development and training for finance professionals – and will continue to do so in the future - finds new research from ACCA and Lighthouse Global, the strategic research and consulting group.
For the report, called The e-professional: embracing learning technologies, a distinguished panel of experts from multinational corporations, global professional services firms, learning providers and other professional bodies offered their opinions about the present and future of online learning.
Their views reveal that:
- e-learning provides more sophisticated options for gaining knowledge and applying it than in the past, due to rapid developments in mobile devices and applications such as Skype and smart phones;
- these technological advancements are changing the way professionals learn, so that options are more flexible and fit for purpose. Learning now revolves around work, rather than work accommodating study leave.
To download the full report, please click here
ACCA Members' Global Salary Survey
Encompassing accountants at all career stages, from newly-qualified individuals to senior business leaders across all regions, the survey provides a valuable new service for ACCA members – highlighting the wide range of career opportunities, and the diversity of role and sector, that ACCA opens up.
Our findings show that ACCA members develop personally fulfilling and financially rewarding careers, regardless of sector or location. A majority have continued to receive salary increases, despite the tough economic climate recently experienced in numerous countries. Salaries remain attractive in all locations, dispelling old myths and misconceptions about some local pay levels. Many ACCA members have enjoyed rising bonuses, and the range of benefits offered by employers is extensive.
To read more about how the value businesses are placing on accountants is paying dividends, please click here
How to... encourage your ACCA trainee to answer challenge questions correctly
What is a challenge question?
When you and the trainee have decided that they has achieved a performance objective, the trainee needs to answer three challenge questions which are related to the performance objective. They do this using the trainee development matrix (TDM).
What is the purpose of the challenge questions?
The challenge questions help the trainee to summarise their work activity so that you can evaluate whether they have achieved the standard required by the individual performance objective. Challenge questions are not tests or exams that have to be passed. They allow the trainee to reflect on their work and demonstrate that they can analyse the quality and value of their work, and see where they may continue to improve.
What format should the trainee follow?
How they decide to present the answers to the challenge questions is up to the individual trainee. For example they can use an essay style, bullet points, or any structure they prefer – it is the content, not the format, of the answers that is important. They need to be sure that their answers fully address the challenge question.
Any tips I can pass on?
The trainee is limited to 500 words when entering their answer in the TDM. So it’s not about writing an essay, but about giving a concise but descriptive answer to the question.
As a guide, someone who doesn’t know the trainee’s work should be able to read their answer and fully understand and appreciate what work they have completed.
It’s recommended that the trainee drafts their answer and then copies and pastes it into the TDM, so they don’t lose their work by mistake.
How will I know if my trainee has answered the challenge questions appropriately?
ACCA has developed a booklet of sample answers. These will help you consider whether you feel the trainee is giving you adequate information. Remember – these are just examples and not model answers, as there are many ways to answer the questions. Your trainee’s situation and experience will be unique, so you should expect to see unique answers.
To access the booklet about challenge questions, please click here
For more ideas and information about helping a trainee achieve their PER, please click here