Essay about CBI index M1

Submitted By mc1222
Words: 713
Pages: 3

Module 1: The accountant as strategic business advisor
The
need for advice
Nine
issues to require advice/ support
Table
1.1: Characteristics of diff-­‐sized org (by IFAC)
Request
for advice: Operational-­‐Strategic-­‐Global
Debates
of accountant for tradiational/ advisory role
(Soft
skills and APES110)
Ques
1.2 Do accountants are well placed provide advisory services?
Fig
1.1 Steps to provide business advisory services
Expand
1.1: Fig 1.2: Chain of events for business advisory services
Accounting
Roles (CPA: 118) & their activities (IFAC)
Reading
1.1: The middle man
South
Africa: PAIB with challenges of Mid-­‐size enterprise
Fortifying
the Business Pillars
The
PAIB payoffs
Ques
1.3 Business during change/ hardship will thrive
Eg
1.3: Specialist accounting roles
1.
Forensic accountants-­‐Risk analysis & reduction
2.
Taxation acconutants-­‐Compliace related service
CPA
Video for Allan Gaukroger: CFO, Crisco
Ques
1.4: importance of soft-­‐skills, work life balance and understand & passion for the org
Accounting
roles with reactive/ proactive
1.)
Tra. Roles: Reactive; take place after event
2.)
Contemporary: Proactive; forecast future needs, influence how org attends them
Eg
1.4: The 1st strategic decision: Business structure
Types
of adv that prof. acc provide
1.)
Financial mgt
2.)
Productivity & Operations
3.)
Risk & Org Structures
4.)
People mgt
5.)
Sustainability
6.)
Communications & IT
Strategic
Services must have
1.)
Soft Skills
2.)
Accounting Skills
3.)
Executive Skills
Accountant
as internal adviser: creating strategy to costing etc
Fig
1.3 Roles and domain of the prof accontant in business
Inwards:
Consultants, Advisors & Members in other roles
Outwards:
Other Directors, business assurance & educators
SME
1.) Definition
2.)
Requirement for staff
3.)
Reason to help SME & Solution
Reading
1.3: Roel van Vegge_Violinist Andre Rieu
Building
Factual foundation
1.)
Revamp org financial IS
2.)
Hiring acc specialist
3.)
Communication with internal & external
4.)
Provide more strategic decision making activities
Outcome
1.) Show the cost & profit immediately
Eg
1.5: Accountants advising on human resources (voluntary turnover)
Family
Owned Business (Subset of SME)
OECD
& CADBURY-­‐ PRO & CON FOR ~ & RECON
Accountant
as external adviser (one off, public practise)
1.)
Cross-­‐selling & straegic partnering (financial planner)
2.)
Marketing (to build up relationship with client)
Ques
1.5: Accountant advise to S/M/L enterprise
Eg
1.6: Advise: Cash Flow (Debt) collecting improvement
From
reporting to advising
1.)
How & when invoicing is done
2.)
how credit terms are establised
3.)
establishing whether statements are provided
4.)
when & how reminders to customers are made
5.)
how slow payments are followed up
Next
step: fr receivables to working capital
Ethical
interaction (final consideration of accountant act as strategic advisor
Traditional
attributes acc: intergrity,…