Tips for accountants as the calendar year draws to a close
With the holiday season just around the corner, things may be quietening down for some.
So for those of us with desk jobs, and by ‘us’ I mean accountants, it’s a great time to clear the leaning tower of Pisa. Not the one in Italy, which dating back to 1173, took 344 years to build and started leaning after 5 years, but the one in the ‘In-Tray’ which took almost no time to build and leans precariously with the inclusion, at times, of one-sided input.
However there is a lot more to an accountant’s life than dealing with and reacting to input from any number of different sources from both within and from outside the company.
It is a good time to put on a stethoscope and examine the overall health of the company.
For SYSPRO users, it’s good to know that DataRapt works tirelessly, 24/7 365 to keep tabs on the integrity of the fixed and working capital control accounts and, provides corrective action guidelines to resolve imbalances.
However DataRapt cannot identify imbalances and other issues that may reside deep within the detailed sub-ledger supporting records. Hence the need for an in-depth look into the pertinent records to confirm or otherwise that, in the main, the investment in working capital is without deadwood, is in balance with demand, meets liquidity requirements and responds dynamically to market changes. Not something achieved and maintained without good teamwork.
While Santa Claus has the resources to meet the expectations of zillions of children of all ages, cultures and backgrounds, so accountants, with a somewhat smaller team, play a key role in the more demanding and ongoing requirement to manage company resources to generate wealth and maintain liquidity levels to meet the expectations of the diverse stakeholder groups.
It is again time to get together with colleagues to review and reflect on the company’s growth, financial and service delivery performance in the light of its mission statement objectives and the expectations of its stakeholders who are comprised of the entities and individuals who have a gainful interest in the company.
Internal stakeholders’ expectations are those of the individual employees and the infrastructure support service groups they comprise. To this end we encourage and endeavour to provide a supportive interactive working environment across the organisation to promote team spirit and individual self-worth and growth which is a key requirement for maintaining high performance company standards and meeting internal stakeholder expectations.
Communications, informal and in the course of business, pertinent company records and the company share performance provide the information required to determine external stakeholder satisfaction levels.
Last but not least, it is time to meet my own expectations of a welcome and eminently enjoyable break from the office leading up to a great year ahead that exceeds my expectations.
And on that note, all of us at DataRapt take this opportunity to wish you well over the holiday season. Whatever it is you choose to do, may it take you into the New Year with renewed inspiration.