New Year Resolutions for 2010 Management Accountant

I am looking back at Year 2009 resolution that I had posted on the Management Accountant Blog. The focus had been on social and professional networking with professionals in the industry and keeping up-to-date with the latest happenings.

This year as before has marred with financial scandals, banker's bonuses and recession. So there are new challenges, upgrading of skills and an approach that is solution driven to help the businesses get past the difficult times. A Management Accountant has to be customer focussed to be a most sought out professional in the business.

Few pointers

Listen to your customer:  I often call up the customer support when I have trouble with my mobile phone and the call is connected to a support centre abroad. Sometime when I try to explain my problem but they give me all the bullet points that they can read from the list.  At that point, I have tell the support analyst, did you listen to my problem. I am not looking for what you know, but a solution that will fix my problem.  As Management Accountant are you listening to your customer before recommending a solution ?

You aim to be a good accountant and you are doomed: I would consider good accountant is one who knows the formats, accounting standards, management theories by heart. He can prepare financial statements from the trial balance by plotting the amounts correctly, talk about management theories and updates himself by reading lots of books. And above all he will be saying IFRS is coming. But when the business asks him for advise on strategies and interpretation of the financial statements, then he is not sure what his role is.  Have you trained yourself to be a business advisor who can provide alternative solutions ?

Satyam Scandal: The tremors in accountancy profession and corporate governance has not been that great in India before Satyam (people generally don't remember). Accounting bodies / business associations and bodies have been talking about an Public Independent Oversight body to oversee all the accountants in practise in India. Will the approach help ? The question is whether it is the time to reform and redesign the accountancy profession in India based on what the stakeholders need ?
Communication : I have been participating in various forums and interacting with lots of people. People share articles and post new topics and expect the discussion and interaction be wholesome. A general observation is people who become popular on the various forums are the ones who substantiate their views with references and facts rather than their perception. This provide the members in the discussion to come up with a better solution.  Many people prefer to communicate with them directly. Do you feel you as a accounting professional bring in an added-value to the interaction  or whom you are associated with ?

My New Year Resolution for year 2010 would be to improve myself on above aspects but also help you in doing so. The role as described by CMA Kedia - The management accounting professional should have attributes of a learning professional, a change agent and be hands on latest technology.

Keep reading Management Accountant Blog and stay tuned. Happy New Year to all of you.

Best Wishes,

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