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Adding value to business in a challenging global environment

New ACCA report reveals best practice planning for finance professionals

'The report looks at how accountants add value to business in what remains a very dynamic and challenging environment,' said Tony Osude, ACCA acting director of professional development and one of the report's authors.

'We see finance professionals adding value in five areas that we call the five domains of finance - strategy, analysis, operations, custodial and regulation. We have used the finance function as a case study to demonstrate the role that professional accountants play and to identify the differences between the good and the great.

'The skills of finance professionals are examined, revealing that organisations and accountants have an opportunity to enhance the value they provide by understanding more clearly how and where value can be added in the business, and developing an operating model for finance that clearly aligns skill capabilities to this value provision. The report provides a framework for organisations assessing and reviewing the effectiveness of their finance function, and suggests how an optimal model can be derived.'

Source: ACCA Global

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