Member Article

Yorkshire management accountants hold the key to future

Local management accountants are training in effective negotiation this evening as a shortage of suitable talent stifles global growth plans and a new report released today by the Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA), sponsored by recruitment experts Hays, highlights how businesses have greater expectations of their finance professionals.

‘The fast track to leadership – the challenges, opportunities and action plan’ concludes that as organisations operate in an increasingly challenging climate, a board’s expectations of the finance function are becoming far more complex. Local management accountants and business are meeting at the Aston Hotel Sheffield, Rotherham on Monday 23rd July at the CIMA ‘Effective Negotiation’ event as part of expanding their skills base.

This report shows how management accountants apply non-financial, qualitative information alongside the financial facts to inform decision making, drive strong performance and are trusted to guide critical business decisions, bringing independence and objectivity.

Robert Elliman, local CIMA Branch Secretary representing Rotherham and Sheffield, said: ““In the more forward-looking organisations, finance is evolving from a focus on the transactional and cost efficiency areas to a real strategic focus where it can make a massive impact. This evolution is influencing the capabilities that finance professionals now need to demonstrate and bring to an organisation. This Effective Negotiation event will give local management accountants more skills to use throughout their businesses.”

Despite many organisations cutting investment in training, highlighted by the CGMA Q2 Global Economic Forecast which showed that spending is predicted to decrease in the UK and Europe over the next 12 months, leading employers still recognise management accountants ability to provide these capabilities and support business success. This is reflected by new student growth, with over 26,000 joining CIMA last year.

Paul Venables, Group Finance Director for Hays, said:

“Organisations are recognising the critical role that the finance function plays in informing the strategic decisions that will define their success. Management accountants who can deliver technical financial expertise along with commercial awareness are in demand from employers and should take every opportunity to develop these skills in order to become the financial leaders of the future.

This was posted in Bdaily's Members' News section by CIMA UK Regional News .