Thread by @IAmOanaLabes

1/ If I had a penny for every CEO out there frustrated with their Controller not handling reporting, and tax planning, and financial analysis, and strategic long term forecasting and dynamic financial modelling...

Accounting and Finance are not the same.

2/ They are distinct functions.

They have distinct responsibilities.

And they each require a different focus and set of skills.

3/ Accounting looks back conservatively, focusing on reporting, compliance, and record keeping.

Finance looks forward strategically, focusing on analysis & decision-making.

Both play critical & complementary roles in the company's financial success.

4/ 🎯Accounting Roles include: Staff Accountant, Senior Accountant, Accounting Manager, Controller, Chief Financial Officer

🎯Finance Roles include: Financial Analyst, Senior Financial Analyst, Financial Manager, Chief Financial Officer, Investment Banker

5/ ⚫Accounting designations & certifications include: CPA (Certified/Chartered Professional Accountant), CMA (Certified Management Accountant), CIA (Certified Internal Auditor), CGMA (Chartered Global Management Accountant)

6/ ⚫Finance designations and certifications include: CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), CAIA (Chartered Alternative Investment Analyst), CPA (Certified/Chartered Professional Accountant)

7/ ➡️ Key Soft Skills in Accounting include: Detail oriented, Conservative thinking, Analytical and Organized, Process driven, Business acumen, Problem solving and Critical thinking

8/ ➡️ Key Soft Skills in Finance include: Research Oriented, Analytical and Collaborative, Risk-taking, Innovative thinking, Results driven, Business acumen, Communication, Problem solving and Negotiation

9/ So let's make sure we put the right people with the right skills and knowledge in the right roles to drive the finance and accounting function forward.

#Finance #Accounting #FinanceIsNotAccounting