Responsibility Analysis Of Financial Profession

From supporting strategic decision making to strong accounting supervision, all these progress require effective balanced accounting leadership and emphasize the importance of the traditional guardian role of the accounting function department. ACCA qualification has independently designed the omni-directional capabilities of accountants, including enterprise reporting, leadership and management, strategy and innovation, financial management, sustainable management accounting, law and taxation, auditing and accreditation, risk and control, stakeholder relationship management, professional quality and professional ethics.

That is to say, in today's accounting functional departments, it is critical to ensure the balance of skills in the accounting value chain. A comprehensive and comprehensive accounting and professional qualification certification system, such as ACCA professional qualification, helps to fully grasp the knowledge of various disciplines in financial accounting and management accounting, and focuses more on auditing, taxation and law learning, laying a solid foundation for training skills needed by enterprises.

For today's internal accounting positions, the overall grasp of the concept of accounting value chain is still very important. Before the accounting department assumes the highest level of responsibility, the vast majority of accounting professionals in large enterprises need to focus more or less on a certain accounting field, such as internal audit, management accounting, financial accounting or risk management.

Nevertheless, it is still beneficial to broaden the scope of knowledge.

If a financial analyst can have a solid understanding of risk issues, it will help enterprises to make correct decisions based on the results of financial analysis.

If an accountant understands the auditing principles, it will not only help prepare financial information that has laws to follow, but also help to understand the role of authentication in good governance.

Internal auditors should have extensive knowledge of financial accounting and management accounting, so as to correctly understand financial control and risk performance.

People who take part in investment appraisal should understand the knowledge of Taxation and supervision, and realize that the coordinated development of society and environment is more and more important for deciding the priority of investment projects.

In addition, the understanding of basic financial accounting knowledge and financial management needs to be deepened. These principles are all kinds. Accounting post Foundation. It is impossible for each accounting profession to be independent. Because of this, a wide range of accounting professional qualifications can be of such important value: providing the necessary foreshadowing and knowledge reserves, which are necessary for all accounting positions of today's accounting functional departments. It is for this reason that we have always been concerned about the attractiveness of accountants who have been trained in the external auditing environment and have entered the accounting profession through new qualifications. Enterprises have always recognized the value of external audit training. Because of its focus on financial accounting, reporting, auditing and control, it has laid an excellent foundation and platform for all kinds of accounting positions in enterprises.

ACCA's latest research finds that Chief financial officer It is also considered that it is very important to cultivate a comprehensive understanding of the value chain of accounting, especially for newly qualified accountants. Financial leaders also believe that a wide range of accounting fields is very helpful to the growth of enterprises.

To achieve sustainable growth, the ability to grasp balanced accounting leadership is receiving increasing attention.

The survival environment of today's enterprises is particularly difficult: Treasury bonds, exchange rate fluctuations, emerging market growth, commodity prices rise, bond financing challenges continue and risks increase, all of which prove that the current climate is very unstable.

Managing multiple risks, supporting strategic decisions, promoting sustainable long-term values, and effectively controlling enterprises are extremely difficult. But for financial leaders, the above work is more important than ever.

For CFO and accounting functional departments, the rules of the game have changed. The evolution of accounting functions has been pushed from the backstage to the central stage, supporting enterprises to create and maintain value. The background of all this is that the volatility and complexity of the global economy are increasing, competition is increasing and risks are higher, and the East and West are looking for balance again. {page_break}

Many challenges and priorities of the financial and accounting functional departments have become increasingly evident after the financial crisis of 2008~2009 years, especially the desire for sustainable wealth creation. Financial and accounting functional departments should play a key role in helping enterprises achieve this ambitious goal. But at the same time, we need to play a slightly different accounting leadership. Functional departments Must have.

There is a marked sign of financial leadership in the post crisis era: we must strike a balance between the pursuit of growth and the moderate control of enterprises. In essence, it is to support enterprises in promoting sustainable growth. Today's CFO must have all kinds of abilities when it comes to the top of accounting positions. It must show the balance of accounting.

In practice, what does it mean to be good at grasping balanced accounting leadership? Financial leaders play a very important role in supporting enterprise strategy and developing effective cooperation with enterprises. But if you want to do so, enterprises must first get effective control. Sustainable value creation is inseparable from effective risk management. Because poor risk management is inconsistent with creating long-term value. This requires enterprises to improve their financial management. If we can not protect the funds created by enterprises and maximize the utilization of capital, they will not be consistent with the spirit of long-term wealth creation; CFO should formulate financial strategies that focus on long-term interests, and know that quarterly reports are the most attractive; in complex investment environment, we should hit the nail on the back of poor investment decisions; this requires a clear understanding of the past and future corporate performance through proper performance measurement; perfect corporate governance is essential, and of course, we must ensure that our regulatory responsibilities are fulfilled. In today's fiercely competitive business world, this balanced financial stewardship capability is the cornerstone of achieving sustainable value creation.