Finance Transformation Roles: Pathways To CFO
Accountants for BusinessFinance transformation roles: pathways to CFOFINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO1
About ACCAAbout Accountants for BusinessACCA (the Association of Chartered Certified Accountants)is the global body for professional accountants. We aim tooffer business-relevant, first-choice qualifications to peopleof application, ability and ambition around the world who seeka rewarding career in accountancy, finance and management.ACCA’s global programme, Accountants for Business, champions the role offinance professionals in all sectors as true value creators in organisations.Through people, process and professionalism, accountants are central togreat performance. They shape business strategy through a deepunderstanding of financial drivers and seek opportunities for long-termsuccess. By focusing on the critical role professional accountants play ineconomies at all stages of development around the world, and in diverseorganisations, ACCA seeks to highlight and enhance the role theaccountancy profession plays in supporting a healthy global economy.Founded in 1904, ACCA has consistently held unique core values:opportunity, diversity, innovation, integrity and accountability.We believe that accountants bring value to economies in allstages of development. We aim to develop capacity in theprofession and encourage the adoption of consistent globalstandards. Our values are aligned to the needs of employersin all sectors and we ensure that, through our qualifications, weprepare accountants for business. We work to open up theprofession to people of all backgrounds and remove artificialbarriers to entry, ensuring that our qualifications and theirdelivery meet the diverse needs of trainee professionalsand their employers.We support our 162,000 members and 428,000 students in 173countries, helping them to develop successful careers inaccounting and business, with the skills needed by employers.We work through a network of over 89 offices and centres andmore than 8,500 Approved Employers worldwide, who providehigh standards of employee learning and development. The Association of Chartered Certified Accountants,October 2014ACCA’s smart finance function campaignACCA’s smart finance function campaign showcases the good practices,challenges and opportunities corporate finance functions face. It exploreshow the quality of finance leadership, the adoption of breakthroughtechnologies, better people practices, and innovative thinking cantransform the finance function.www.accaglobal.com/smart
ContentsIntroduction41. Path to CFO through shared service and outsourcing – really?52. Career catalyst or the graveyard of ambition?63. Out of sight, out of mind?74. BPO as a source of CFO talent?85. Timing is everything96. One career door closes, another one opens107. Final thoughts11About the authors12The ACCA finance transformation, shared service and outsourcing advisory board13This report asks a simple question: arefinance shared service andtransformation roles valuable in thecareer path to becoming a CFO?FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO3
IntroductionCan all pathways, particularly thosethrough a corporate finance sharedservice role, lead to the position of CFO?ACCA’s previous reports on financetransformation have dealt with models,technology, talent, efficiency, change andeffectiveness. Yet, for finance leaders,what they do, and what it means for theircareer, especially if they aspire to a CFOposition, is just as important. Is sharedservice and outsourcing as a discipline, asan assignment within the current financialvalue chain, of any value to careers? Doesit attract the best and brightest financeprofessionals who want to be CFOs? Orare transformation roles a graveyard forthose whom the organisation believes addvalue, but who are not expected toachieve the top finance job. It is time tobe honest, brutal and very discerningabout the benefits – and challenges – offollowing a career route through financeshared service and outsourcing.4Right now, a so-called urban legendpositions finance transformation roles as adead end for those who want eventuallyto occupy the top finance seat at theexecutive table. Perhaps that is becauseof the relative immaturity of the sharedservice finance model or perhaps financetransformers just have not had time toreach the top; perhaps it is becauseorganisations need to amend their view ofthe capabilities now required to balanceagility and risk, growth and compliance inincreasingly complex market contexts. Orperhaps it stems from a lack ofimagination, resulting in leadershipdevelopment constructs that follow themore traditional pathway throughcontrollership roles.Can the organisation afford to relegatefinance transformation professionals to acareer graveyard in the face of rapidchanges in markets, globalisation,technology, and management? Are theFINANCE TRANSFORMATION ROLES: PATHWAYS TO CFOskills that leaders pick up in financetransformation roles not similarlytransformative for the organisation as awhole? Should the value ascribed to theskills and capabilities that shared serviceand outsourcing leaders bring to the tablebe reassessed?Does finance career path myopia have asilver lining for those who take ontransformation roles, creating a different,perhaps more exciting future for financeleaders? Does assignment to sharedservice and outsourcing roles open up newcareer pathways not previously available– or at least not obvious – benefiting boththe individual and the organisation?This report, informed by the ACCAfinance transformation, shared service andoutsourcing advisory board, looks into thepros and cons of taking on a financetransformation role.
1. Path to CFO through shared service and outsourcing – really?Finance leaders on the ACCA finance transformation advisory board concur that theadoption of shared service and outsourcing models has inextricably changed thefinance career trajectory. With over 80% of the Fortune 500 consolidatingtransactional finance processes in remote centres, the formerly vertical financeoperations model has been upended. The traditional finance career equation hasbeen disrupted.Both organisational and personal benefitscome from moving to finance sharedservice and outsourcing models.Organisations can standardise processes,reduce cost, and tap into the benefits thatonly scale and scope are able to provide.By moving offshore, finance services areable to access extensive new sources oftalent and the finance organisation canpotentially move up the value chain byfreeing up management time andfocusing on value-added roles such asbusiness partnering, financial planningand analysis and strategy.Similarly, there are some skills that financeprofessionals can hone only when financemoves to a consolidated model. Severalcapabilities – managing remote and oftencross-cultural teams, managing change,and developing a greater level ofcustomer focus can be harnessedeffectively through time served in manyfinance leadership delivery roles.Nonetheless, the question remains: arefinance shared service roles an obviouspathway to the CFO position?Shared service operations – and theirleaders – generally have value in the eyesof C-suite leadership. In fact, the ACCAadvisory board believes that the vastmajority of CFOs with successful sharedservice or outsourcing models would notgo back to a vertical model. IBM’s SandyKhanna sums it by saying: ‘CFOs haveembraced the fact that having analternative service delivery model is reallyimportant for their own sanity’.Yet are shared service functions a richhunting ground for CFO material? Theboard attests that perhaps part of theproblem is the relative lack ofunderstanding of the skills financeprofessionals acquire by working in ashared service operation; perhaps it isbecause a higher value has traditionallybeen placed on planning and reporting,and other typically retained financeactivities. As Chris Gunning of Unisys says:‘I think audit experience, compliancecontrol, risk management, whether it’sfrom one of your big four external firms orinternally in the company can be morecritical to the senior finance career path’.Perhaps there is also a myopic view aboutwhere the pool of finance talent canactually be found. As Nigel Coffey ofPepsico puts it: ‘when it comes to selectinga CFO, I think the choice is a CFO whounderstands the numbers rather than whounderstands the back-office functions.There is snobbery in finance: the guys inthe front of the house think they know thebusiness; they think the guys in the backoffice don’t really ‘get’ the business. Iwould say that’s a very imbalanced functionbecause I think the guys in the back officeoften understand the business better thanthe guys in the front’.Whatever the reason, it is apparent rightnow that there is often a dual career pathfor finance professionals – a clear path toCFO through the so-called retainedorganisation with a distinctly differentpathway through shared services.‘I think audit experience,compliance control, riskmanagement, whetherit’s from one of your bigfour external firms orinternally in the companycan be more critical tothe senior finance careerpath’.CHRIS GUNNING, UNISYSFINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO5
2. Career catalyst or the graveyard of ambition?Can time served in a finance shared service role enrich the finance career? Is it aviable option for country CFOs or those with aspirations for controllership? Could afinance career move into service delivery help develop new leadership qualities? Oris career ambition compromised by such a move?Earlier in his career, PepsiCo’s NigelCoffey resisted a placement in the sharedservice organisation of the companywhere he then worked. ‘When I was askedto go into an shared service role, my firstreaction was, “you must be joking”. Icalled it the graveyard of ambition; there’sno progression, no career. I said I’d give ittwo years contingent upon a guaranteedpathway back into the business. However,at the time I didn’t understand thecomplexity and the nature of thechallenge’.With time served in a shared service role,finance professionals are able pick upskills that are difficult to attain in otherfinance roles. Julie Spillane fromAccenture considers the CFO role as twosided, on the one hand focused onstrategy and investor relations, and on theother a traditional finance operationalleadership with greater internal focus. Shesees time in a shared service rolepotentially beneficial for the latter. ‘WhenI think about shared service and6outsourcing experience I think it isextremely helpful for the CFO operationalleadership role because you learn to beleaders of people, and how to organiseand operate effectively’.By its very nature, a shared service rolecan give access to the top CFO and canprovide visibility for the person carryingout the role. Country CFOs, for example,who have spent time in a transformationarena may find that they suddenly havebetter access to the C-suite, moreresponsibility and vital global experience.Country CFOs are not the only ones whocould potentially benefit from a stint in afinance shared service role. Nigel Coffeysuccinctly confirms the value of a sharedservice rotation for ambitious controllers,saying that: ‘having some time in sharedservice is pretty essential if you’re goingto be a good financial controller becauseyou need to understand those blocks thatcreate the data that you’re using’.FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO‘I spent ten years as acountry CFO and I nevermet or spoke to theglobal CFO. On my veryfirst day in shared serviceI was presenting to thesenior leadership team.As a shared serviceleader you get access toa much more senior layerin the organisation thanyou will ever get as anindividual country CFO’.NIGEL COFFEY, PEPSICODeloitte’s Peter Moller goes further,stressing that time spent in a financeshared service operation could now beseen as essential for today’s controller –but not for the top CFO position.The advisory board suggests that sharedservice experience alone will not make afinance transformation leader into a CFO.In fact the board is adamant that theremust be a life before shared services, inmore traditional finance roles. If you wantto become CFO ‘you don’t start off inshared services’, declares Moller, ‘but youcan use a position there to hone andsupplement your finance skills’.
3. Out of sight, out of mind?Is there a risk that moving to a shared service role means less visibility at grouplevel? How important is wider enterprise buy-in to service delivery, or indeed CFOsponsorship? Does maturity or the culture of the finance shared service operationhave an impact on the perceived value of finance leadership roles in deliverycentres?Some finance organisations with verymature – and successful – shared serviceand outsourcing models are nowconsciously plotting career pathwaysthrough shared service or outsourcingoperations, acknowledging that the skillsdeveloped in these centres can be key tobuilding a strong finance managementbench as well as top-tier talent.The ACCA advisory board also seessponsorship as a critical success factor innurturing shared service leadership talentand believe it can enhance the perceptionof the value of time served in a sharedservice environment. In short, the CFO’sbelief and reliance on shared service playsa key role. Unisys’ Chris Gunning believesthat ‘if you’ve got a CFO who’s a fan ofshared services, it certainly helps peopleon the career path to higher seniorfinance-level positions’. In addition, theadvisory board also highlights theimportance of the right corporate culture.SpecSavers’ Dilesh Magdani says: ‘thecompany and their attitude towardsleadership and people managementweighs in on the value of shared services.Obviously I work for a company where it’sall about people and so leadership skillsare more important than the technicalaspects’. IBM’s Sandy Khanna concurs:‘You’ll always find that the good financeleaders find great roles because they’re indemand’.PepsiCo’s Nigel Coffey qualifies SandyKhanna’s comment slightly, saying that thecareer path to bigger and better thingsstill depend in great part upon theperception of the shared service functionby the business: ‘If it’s valued, as it is inmany mature organisations, it becomes animportant talent pool’. He goes on to saythat in companies such as Unilever, ashared service rotation is seen as animportant step in ascendancy. SandyKhanna agrees, saying that he has seenorganisations that have deliberatelymoved individuals onto the fast track tofinance leadership through transformationor shared service roles because theyunderstand, and really value, the businessexperience gained.‘If you’ve got a CFOwho’s a fan of sharedservices, it certainly helpspeople on the careerpath to higher seniorfinance-level positions.’CHRIS GUNNING, UNISYSNonetheless, selling this view to financeprofessionals fixed on following atraditional career path is not easy,especially if their organisations have notyet designed and implemented careerpathways that encourage them to take upa transformation role. Many country CFOsor controllers, doggedly following atraditional career trajectory, may still see astint in shared service as a sideshow andmay hold concerns of visibility.FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO7
4. BPO as a source of CFO talent?With so many finance organisations turning to the outsourcing model, anotherquestion arises: are business process outsourcing (BPO) providers a source oftalent? They should be, given that the global trend to outsourcing and sharedservice in effect ‘hollows out’ the supply of talent by moving transactional roles outof the organisation, disrupting the traditional career pathways of financeprofessionals.The ACCA advisory board suggests that itis difficult for finance professionals inbusiness process outsourcing to movethrough a career trajectory to becoming aCFO on the client side. There is a viewthat the outsourcing provider’s role is torun a factory comprising strongtransactional talent, not to serve as abreeder of CFO talent.In addition, the finance and accountingBPO career construct itself may also getin the way of talent interoperability.Leaders relegate talented providerpersonnel into roles as executors ofquality finance transactional tasks, not asaspirants to CFO roles.The advisory board does not yet perceivethe need to cultivate BPO-based talent asa source of finance leadership. Theybelieve that ‘captive’ talent pools remainplentiful, obviating the need to build orlook for talent in the provider ranks. Yetwhere do skilled finance BPO resources8go for advancement? Although ChazeyPartners’ Anirvan Sen sees providerpersonnel as ‘extremely hungry to moveup the ladder’, there’s no clear answer.After all, shared service leaders withgreater proximity and contextualunderstanding who are already in theorganisation are naturally at the front ofthe queue when it comes to securing CFOroles. Perversely the advisory board seesthe success of off-shoring as one of thekey impediments as to why BPO roles maynot be a future source of talent for theCFO role – put simply with more financeactivities ‘pushed out’, there are fewerroles in the retained finance function tofacilitate career moves towards the CFOdestination.As Unisys’ Chris Gunning says ‘the bulk ofthe finance jobs that we’re creating todayare in India so I think there are feweron-shore or near-shore opportunities forthese staff to move through a careerpathway to CFO’.FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO‘I would say our loyalty would be to our owncolleagues first but if we can assist in thedevelopment of our partners and staff, absolutely. Ihave had people come in from a provider onsecondment for one or two years to work with thebusiness and it’s great development for them. But Iwould say even with that experience it’s very hard forthem to make the jump into the CFO career pathbecause they’re competing against people thatalready have 10, 15 years’ experience withinmultinationals’.NIGEL COFFEY, PEPSICO
5. Timing is everythingWhile finance leaders on the ACCA advisory board acknowledge that sharedservice roles are a valuable training ground in which to attain vital capabilities inleadership, virtual management, transformation and finance operations, they alsoacknowledge that, in some organisations, staying too long can be hazardous to thecareer plan if the finance professional’s ambition is to take on a top CFO job.Specsavers’ Dilesh Magdani sums it upsuccinctly: ‘There’s a risk that you couldget labelled as a back-office guy’. G4S’sSimon Newton also stresses that thepathway through shared service is amatter of careful timing: ‘getting in andout of shared service quickly or changingyour career aspiration is important; 12–18months is the right tenure unless you aremoving down a career path that doesn’tinclude a top CFO role’.Newton believes that at an advancedstage in a finance professional’s career, arotation through shared service is lessthan advantageous on the pathway toCFO. ‘I think if you step into a sharedservice role typically you’re stepping awayfrom the business, unless you’re doing itunder two circumstances. First, if you arein an organisation which manages careersreally well and sees a shared service roleas a plus; or second, you’re relativelyjunior, relatively young and ticking boxesand getting experience’. He alsoemphasises the need for what he terms‘recency’ in career management. On thispoint Nigel Coffey from Pepsico agrees,saying that corporate memories are short:‘What you did a few years ago can be longforgotten’.Once in a shared service leadership role,how do you move back out to thebusiness? Do you leave the organisation,moving into another, larger SSO role?What’s your logical next step? Theadvisory board generally agrees withG4S’s Simon Newton that there is somelength of shelf life to a shared serviceleadership role, regardless of personalcareer aspiration. That ‘shelf life’ may notbe in a transformation role per se, butrather in a specific organisation.‘I think you have to move. That’s what I didafter a long career with another company.You’re looking for a new challenge andyou move and you find the organisationthat’s going to provide that newchallenge’, says Nigel Coffey.One of the challenges of shared service isits lifecycle – change the model, then runthe model. For leaders up to thetransformation challenge, the change part– albeit with all its difficulties, such asrecalcitrant stakeholders, developing asuccessful outsourcing providerrelationship, standardising processes,putting in new technology – is anadrenaline high for many. Once the modelis bedded down, the ‘thrill’ is gone and itis probably time to move on.Shared service management can also beparsed as a series of projects. Once aproject is completed, boredom can set inand the challenge is gone. ‘I think by thenature of what we do it tends to be veryproject-type-related. When that projectcomes to an end or is getting too staidand steady, I think some leaders will pickup sticks and move on to the nextchallenge, and that may require that theychange company’, says Nigel Coffey.‘Getting in and out ofshared service quickly orchanging your careeraspiration is important;12–18 months is the righttenure unless you aremoving down a careerpath that doesn’t includea top CFO role’.SIMON NEWTON, G4SFINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO9
6. One career door closes, another one opensHere is a bit of heresy: perhaps a CFO role as an aspiration is just not big enoughor good enough for the successful finance transformation leader. Are there othercareer options on the table for aspirational shared service and financetransformation leaders with broader appeal?Could we posit that the skills a financeleader picks up running a global businessservices operation or large shared servicecentre are better placed, and can createas much (if not more) value in other partsof the organisation? Perhaps theimportance of running a major sharedservice operation, which is concentratedon transactions, statutory reporting or (asis increasingly the case) financial insightand data analytics, should not beunderestimated.For many finance transformation leaders,a pan-enterprise opportunity to make theorganisation more effective and efficientmay be more tempting as a careeraspiration. ‘Perhaps a COO path is asgood, or even better, next step, for thefinance transformation leader’, positsPeter Moller of Deloitte.Andrew Bacon concurs and says, ‘maybeit’s not the best route to CFO but forsomebody who’s entrenched in finance,the move into a more operational rolemight be a good move toward a CEOrole’. In short, he suggests that sharedservice provides a great breeding groundfor broader leadership talent, but maybenot for CFO talent.‘We don’t want to be thebean counters of old. Ask100 shared serviceleaders and you’ll findthat few aspire to be thetraditional CFO’.ANDREW BACON OF DOOSAN.10FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFOTransformation roles may providedifferent opportunities for growth tocontrollership or roles outside the financeorganisation. Unisys’ Chris Gunning adds‘I think what’s interesting now is themovement to global business services orGBS (aggregating all business deliveryfunctions under one functional group).While traditionally finance shared servicesat under the CFO function, now the headof the GBS function, often the formerhead of finance shared services, is at thesame table. As far as the executivecommittee is concerned, the CFO and theGBS leader are almost equals. It’s adifferent route; the finance shared serviceleader now says “I’m not part of thefinance team. I’m going to run thebusiness team separately while one of mymany stakeholders is now the CFO”’.
7. Final thoughtsHow do finance leaders manage their own career paths to a CFO position if theyfind themselves in a transformation role? Or how do they position themselves tomove in other equally satisfying directions? According to the experience of theACCA advisory board, there is no single answer but here are some considerationsfor those currently in finance transformation or shared service roles, orcontemplating a career turn through such a role.CONTEXT MATTERSSome organisations prize the value thatfinance transformation brings to theorganisation, while others still view sharedservice and outsourcing merely as afactory for transactional, rules-basedwork. Finance leaders need to look closelyat a number of factors before taking up atransformation role or considering thelength of stay in a leadership position. It iscritical to ask several questions. How aggressively is top leadershipmoving to a services model? Is it anenterprise sideshow, or part of anoverall plan to transform the business? Do those working in outsourced orshared service centres have access tomanagement, or does the organisationonly prize silent running (the ‘out ofsight/out of mind’ view of the world)? Does the CEO or CFO activelysponsor the move to shared service oroutsourcing? Has he or she pushed itas part of the corporate mandate?LOOKING OUT FOR ROLE MODELSTIMING IS (ALWAYS) EVERYTHINGMany finance transformation leaders arepioneers, the first occupants of their jobs.Nonetheless, some organisations havebeen engaged in finance transformationfor over 10 years, which can seem alifetime in corporate history. Whathappened to the previous transformationleaders? If they have moved on into other,perhaps larger or more responsiblecorporate roles within the organisation,the shared service job is probably not acareer-ender. If the previous incumbentshave taken on bigger roles in anothercompany, it is likely that the organisationis seen as a best practice operation and abreeder of good talent. In either case, timein that shared service organisation neednot always be a career-limiting move.While the ACCA advisory board generallyagrees that watching the calendar is agood thing for those in finance sharedservice roles, keeping an eye on thecorporate agenda and the leadership castof characters is also important.Organisations do shift their approach tobusiness service models, often as a resultof a change in top leadership. Not allCEOs or CFOs are converts to theconcept; with a management change or amerger, the career prospects for the mostsenior of finance transformationprofessionals can be swiftly turnedinside-out.FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO11
About the authorsJAMIE LYONDEBORAH KOPSJamie Lyon is head of corporate sector atACCA, and is the global knowledge leadfor ACCA’s activities and research on therole of the CFO across the C-suite, thefuture of the CFO function, human capitaland talent management.Deborah Kops is the founder andmanaging principal of Sourcing Change.Formerly a founding partner of one of thefirst global business processingoutsourcing (BPO) units, the chiefmarketing officer of a leading offshoreBPO, managing director of FleetBoston’sServices Group (now Bank of AmericaServices Group), managing director ofglobal sourcing transformation forDeutsche Bank and a partner atPricewaterhouseCoopers and ArthurAndersen.Jamie regularly speaks at events andconferences and has contributed tonumerous management and financemedia including the Financial Times,Accountancy Age, Finance DirectorEurope, Outsource Magazine and ITN.Before joining ACCA he qualified as anaccountant and spent many years inindustry working in the UK andinternationally for leading FTSE 100businesses.12FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFODeborah now works with leadingcompanies to manage globalisationchallenges. She is also programmedirector focusing on global businessservices for the eminent US-basedresearch organisation The ConferenceBoard, and a member of the editorialboard of the industry-leading publicationOutsource Magazine.
The ACCA finance transformation, shared service and outsourcing advisory boardThe ACCA finance transformation,shared service and outsourcingadvisory group supports ACCA’sglobal research and insight work.Bringing together a panel ofleading industry experts, itprovides unique perspectives on thekey issues affecting organisationsseeking to transform their financeand business operations.JOHN ASHWORTH, GLOBAL HEAD OFFINANCE TRANSFORMATION, PEARSONJohn joined Pearson plc as part of the internalaudit team from Coopers & Lybrand beforeworking in a variety of roles in Penguin Books,a division of Pearson, including those ofinternational finance director, supply chainbusiness manager and UK controller. He wasCFO, then CFO and IT director, beforebecoming managing director of Pearson’s UKshared service team running a 1,000-headcaptive operation supporting F&A, IT,customer services, logistics and facilities.ANDREW BACON, HEAD OF EMEA SHAREDSERVICE CENTRE, DOOSAN INFRACOREAndrew Bacon is located in Dublin. DoosanInfracore is a Korean multinational and theseventh-largest construction equipmentcompany in the world. The EMEA Sharedservice Centre provides IT and financeback-office support to the region. Andrew isalso the chief accounting officer for DoosanInfracore’s operations in EMEA, a role he heldbefore establishing the shared service centrein Dublin in 2012. Andrew is a Fellow of theAssociation of Chartered Certified Accountants(FCCA) and will complete his MBA from theUniversity College Dublin, Michael SmurfitGraduate Business School, in August 2014.NIGEL COFFEY, SENIOR DIRECTOR OFFINANCE PROCESS TRANSFORMATION,PEPSICONigel Coffey qualified as an accountant withArthur Anderson & Co in the UK in 1993 beforegoing on to work with Pricewaterhouse inIreland and subsequently as a finance directorwith Novo Nordisk Pharmaceuticals and Pfizerin Ireland. As finance director of Pfizer’s Irishcommercial operations, Nigel was involved inthe initial set-up of the company’s EuropeanShared Service operations in Dublin in 2002before joining the shared service organisationas European service delivery director. Nigel
Finance leaders on the ACCA finance transformation advisory board concur that the adoption of shared service and outsourcing models has inextricably changed the finance career trajectory. With over 80% of the Fortune 500 consolidating transactional finance processes in remote centres, the formerly vertical
The roles of the finance function in organisations 4. The role of ethics in the role of the finance function Ethics is the system of moral principles that examines the concept of right and wrong. Ethics underpins an organisation’s sustained value creation. The roles that the finance function performs should be carried out in an .File Size: 888KBPage Count: 10Explore furtherRole of the Finance Function in the Financial Management .www.managementstudyguide.c Roles and Responsibilities of a Finance Department in a .www.pharmapproach.comRoles and Responsibilities of a Finance Department .www.smythecpa.comTop 10 – Functions of Business Finance in an Organizationwikifinancepedia.com23 Functions and Duties of Accounting and Finance .accountantnextdoor.comRecommended to you b
of Managerial Finance page 2 Introduction to Managerial Finance 1 Starbucks—A Taste for Growth page 3 1.1 Finance and Business What Is Finance? 4 Major Areas and Opportunities in Finance 4 Legal Forms of Business Organization 5 Why Study Managerial Finance? Review Questions 9 1.2 The Managerial Finance Function 9 Organization of the Finance
Descriptif des cours Course Outlines 10 Catalogue des cours/ Course Catalog 2017-2018 FIN: Finance/Finance A : Actuariat/Actuarial, Insurance E : Finance d’entreprise/Corporate Finance The course liste tables and the course outlines G : Finance générale/General Finance M : Finance de marché/Market Finance S : Synthèse/Synthesis IDS: Systèmes d’Information, Sciences de la Décision et .
Introduction to Behavioral Finance CHAPTER1 What Is Behavioral Finance? Behavioral Finance: The Big Picture Standard Finance versus Behavioral Finance The Role of Behavioral Finance with Private Clients How Practical Application of Behavioral Finance Can Create a Successful Advisory Rel
10 Catalogue des cours/Course Catalog 2021-2022 FIN: Finance/Finance E : Finance d'entreprise/Corporate Finance G : Finance générale/General Finance M : Finance de marché/Market Finance S : Synthèse/Synthesis IDS: Systèmes d'Information, Sciences de la Décision et Statistiques/ Information Systems, Decision Sciences and Statistics
Pathways Train-the-Trainer Manual !6 Introduction.This section provides an explanation of the problem that Pathways attempts to address, the way in which Pathways attempts to solve the problem, and overall structure of the Pathways teacher training. Rationale. This section explains the principles of identity-based motivation that
career pathways than did colleges in earlier rounds. Round 4 colleges also secured more comprehensive partner support and funding for career pathways systems. Colleges in states with past career pathways or sector partnership experience may have found it easier to expand career pathways systems. This suggests sustained investment, as
Abrasive water jet machining Ultrasonic machining. Difference between grinding and milling The abrasive grains in the wheel are much smaller and more numerous than the teeth on a milling cutter. Cutting speeds in grinding are much higher than in milling. The abrasive grits in a grinding wheel are randomly oriented . A grinding wheel is self-sharpening. Particles on becoming dull either .
