Whalen CPAs’ Post

Finding the right person to head up your company’s finance and accounting department can be challenging in today’s labor market. Don’t overlook non-CPA candidates who may possess other valuable skills to help your company thrive. Outsourcing could also be an effective solution as well. Click the article below to learn more. https://lnkd.in/erZ_58P9

Don't miss our latest blog on the 2024 Finance & Accounting Talent Shortage! Discover how Oggi Talent bridges the gap and supports businesses in finding top-notch talent. #Finance #Accounting #TalentShortage #Oggi #OggiTalent https://lnkd.in/ggzhTCHW

Are you looking to boost your marketability, check out these 5 strategies!

📈 Looking to boost your marketability in accounting and finance? Check out these 5 crucial strategies that can set you apart and propel your career forward! 💼💡 #Accounting #Finance #CareerAdvice https://lnkd.in/eRwQTV8J

"The majority — nine out of 10 — of executive leaders described their finance teams as either “lean” or “overextended,” according to a recent survey by Paro, which offers an AI-enabled marketplace of finance and accounting solutions." This is a very common reason why prospective clients find and reach out to us. It has a few different flavors: - The CFO of the company doesn't have sufficient support to own/manage clean and useful financial data AND think bigger picture regarding strategic finance, so they look to us to provide the accounting and finance foundation for them to think big-picture. - The most senior Accounting & Finance resource on the team is someone with formal bookkeeping training, and the complexities of the business has outpaced their ability to keep up. They look to us to build the accounting processes necessary to deliver consistent/quality closes (working with the bookkeeper) and serve as the founder's trusted advisor. These are two examples of a variety of ways our process-oriented approach can be applied to capacity and capability constraints for SMB finance and accounting needs. If any of the above hits close to home, don't hesitate to reach out. https://lnkd.in/egVGWKD4

As specialists in accounting and finance recruitment, we understand the critical nature of the ongoing accountant shortage. This insightful article explores how this challenge is escalating and what it means for businesses nationwide. A must-read for industry professionals! #Accounting #Finance #TalentAcquisition #Recruitment

The finance and accounting sectors are evolving rapidly with increased turnover and niche skill demands. Learn how leveraging strategic resources can help your team stay resilient and competitive.  https://lnkd.in/gHkzbzwa

#Accountants #Finances #What is your current role according to the following article? People's perception of accounting vs finance: Accounting vs Finance: Clearing the Fog of Confusion In the business world, the terms "accounting" and "finance" are often used interchangeably, leading to a blurred understanding of their distinct roles and responsibilities. This confusion not only affects those within the field but also extends to the general public, who may struggle to differentiate between the two professions. On the surface, accounting and finance may seem like closely related disciplines, both dealing with numbers and financial matters. However, upon closer examination, they are distinct fields with unique objectives, skill sets, and career paths. Accounting: The Language of Business Accountants are the stewards of an organization's financial records, ensuring accuracy, compliance, and transparency. Their primary responsibilities include recording, classifying, and summarizing financial transactions, preparing financial statements, and maintaining a company's books. Accountants serve as the guardians of financial information, providing vital insights into an organization's financial health and performance. Finance: The Strategic Allocation of Resources Finance professionals, on the other hand, are responsible for the strategic management of an organization's financial resources. Their focus lies in areas such as investment analysis, capital budgeting, risk management, and financial planning. Finance professionals utilize financial data and analysis to make informed decisions about investments, funding sources, and the allocation of capital to drive growth and maximize shareholder value. The Perception Gap Despite these clear distinctions, many individuals, both within and outside the business world, struggle to differentiate between accounting and finance. This perception gap often stems from a lack of familiarity with the nuances of each field, leading to a tendency to lump them together as "number-crunching" professions. For those working in accounting or finance, this misconception can be frustrating, as it fails to recognize the unique skill sets and responsibilities required in each discipline. Accountants may feel their role is reduced to mere data entry, while finance professionals may be perceived as glorified number-crunchers rather than strategic decision-makers. Bridging the Gap Addressing this perception gap requires a concerted effort from both the accounting and finance communities. By clearly communicating the distinct roles, responsibilities, and career paths within each field, professionals can help demystify these disciplines and promote a better understanding among the general public.

Accountants can become great CFOs. Here's why: 1. They understand financial statements inside and out. As accountants, they have extensive experience analyzing income statements, balance sheets, cash flow statements, and key financial ratios. This financial literacy and reporting experience is invaluable for a CFO role. 2. They are skilled at budgeting and forecasting. Creating budgets and financial projections is a core part of an accountant's job. They know how to use past financial data to accurately estimate revenues, expenses, and cash needs in the future. 3. They ensure compliance with financial regulations. Accountants are well-versed in GAAP, SEC guidelines, and tax laws. As CFO, they can guarantee the company follows all required financial policies and reporting standards. 4. They can improve processes and controls. With their process-minded nature, accountants often see ways to streamline systems like accounting, payables, inventory, etc. As CFO, they can implement new procedures to gain efficiencies and strengthen internal controls. 5. They provide strategic business insight. Beyond number-crunching, accountants understand how the financials affect and are affected by the overall business. Their blended operational and strategic skills help them advise executives on important decisions and directions. So accountants, don't underestimate your value. Your technical expertise, paired with your strategic mindset, can create a powerful force in your career. -- P.S. I'm Howard Katzenberg and I post daily at 8:15 am EST to share finance insights and help my finance friends grow.

Leaders from corporate finance and the profession share their advice for upskilling and reskilling for the next era of management accounting. #HORNE #weareHORNE