Business Infographics on LinkedIn: Key Finance & Accounting Roles Explained Credits to Aleksandar… | 25 comments (2024)

As a newly appointed CFO, below are the challenges and correlations of the various functions that depend on you. I find this realignment interesting...

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Key Finance & Accounting Roles ExplainedCredits toAleksandar Stojanović, MSc., follow him for more finance content.------Here's the original post:Key Finance & Accounting Roles ExplainedEmbarking on a career in Finance & Accounting?You would like to know where you fit and what to learn.Here’s a step-by-step guide to critical roles and responsibilities:🔘 CFO (Chief Financial Officer): For those who envision the financial big picture.1. Strategic Planning: Cultivate a holistic view of financial growth.2. Capital Structuring: Master the art of effective funding.3. Risk Management: Grasp crucial techniques to safeguard assets.4. Stakeholder Communication: Build bridges with investors and board members.5. Forecasting: Harness the power of future financial insights.🔘 Financial Analyst: Dive deep for those analytical minds.6. Data Analysis: Extract significant patterns from financial data.7. Budgeting & Planning: Understand the nuances of allocation.8. Performance Metrics: Discover vital KPIs for business health.9. Report Creation: Master the art of insightful reporting.🔘 Internal Auditor: For the diligent and detail-oriented.10. Risk Assessments: Spot vulnerabilities before they escalate.11. Process Evaluations: Streamline operations for efficiency.12. Compliance Checks: Ensure adherence to financial standards.13. Recommendations: Provide insights for optimization.🔘 Tax Specialist: Navigate the intricate maze of taxation.14. Tax Strategy: Formulate effective tax-saving methods.15. Compliance & Reporting: Adhere to the ever-evolving tax laws.16. Audit Defense: Safeguard against potential tax inquiries.17. Tax Forecasting: Predict future tax implications.🔘 Accountant: The backbone of everyday financial health.18. Record Keeping: Maintain pristine financial records.19. Financial Statements: Generate periodic business health reports.20. Reconciliation: Ensure accuracy in books.21. Tax Preparation: Assist in timely and accurate tax filing.These roles encompass different aspects of Finance & Accounting, catering to various interests and skill sets.Explore these areas, identify your interests, and tailor your learning path accordingly.-------FollowBusiness Infographicsto learn from the best visuals.

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Great insights and neatly outlines crucial finance roles, though integrating treasury and cash management could add depth, reflecting their significance in strategic finance. Highlighting the synergy between roles and the impact of tech would also offer a more comprehensive sector view.#FinanceCareers #StrategicFinance #ContinuousLearning

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Key Finance & Accounting Roles ExplainedEmbarking on a career in Finance & Accounting?You would like to know where you fit and what to learn.Here’s a step-by-step guide to critical roles and responsibilities:🔘 CFO (Chief Financial Officer): For those who envision the financial big picture.1. Strategic Planning: Cultivate a holistic view of financial growth.2. Capital Structuring: Master the art of effective funding.3. Risk Management: Grasp crucial techniques to safeguard assets.4. Stakeholder Communication: Build bridges with investors and board members.5. Forecasting: Harness the power of future financial insights.🔘 Financial Analyst: Dive deep for those analytical minds.6. Data Analysis: Extract significant patterns from financial data.7. Budgeting & Planning: Understand the nuances of allocation.8. Performance Metrics: Discover vital KPIs for business health.9. Report Creation: Master the art of insightful reporting.🔘 Internal Auditor: For the diligent and detail-oriented.10. Risk Assessments: Spot vulnerabilities before they escalate.11. Process Evaluations: Streamline operations for efficiency.12. Compliance Checks: Ensure adherence to financial standards.13. Recommendations: Provide insights for optimization.🔘 Tax Specialist: Navigate the intricate maze of taxation.14. Tax Strategy: Formulate effective tax-saving methods.15. Compliance & Reporting: Adhere to the ever-evolving tax laws.16. Audit Defense: Safeguard against potential tax inquiries.17. Tax Forecasting: Predict future tax implications.🔘 Accountant: The backbone of everyday financial health.18. Record Keeping: Maintain pristine financial records.19. Financial Statements: Generate periodic business health reports.20. Reconciliation: Ensure accuracy in books.21. Tax Preparation: Assist in timely and accurate tax filing.These roles encompass different aspects of Finance & Accounting, catering to various interests and skill sets.Explore these areas, identify your interests, and tailor your learning path accordingly.Determined to elevate your financial strategy but unsure where to start?Dive deep, identify your needs, and let's craft the best financial roadmap for your success.Olawale Segun. ACA, ACTI, MBA, MSc. BSc, HND.

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Key Finance & Accounting Roles ExplainedEmbarking on a career in Finance & Accounting?You would like to know where you fit and what to learn.Here’s a step-by-step guide to critical roles and responsibilities:🔘 CFO (Chief Financial Officer): For those who envision the financial big picture.1. Strategic Planning: Cultivate a holistic view of financial growth.2. Capital Structuring: Master the art of effective funding.3. Risk Management: Grasp crucial techniques to safeguard assets.4. Stakeholder Communication: Build bridges with investors and board members.5. Forecasting: Harness the power of future financial insights.🔘 Financial Analyst: Dive deep for those analytical minds.6. Data Analysis: Extract significant patterns from financial data.7. Budgeting & Planning: Understand the nuances of allocation.8. Performance Metrics: Discover vital KPIs for business health.9. Report Creation: Master the art of insightful reporting.🔘 Internal Auditor: For the diligent and detail-oriented.10. Risk Assessments: Spot vulnerabilities before they escalate.11. Process Evaluations: Streamline operations for efficiency.12. Compliance Checks: Ensure adherence to financial standards.13. Recommendations: Provide insights for optimization.🔘 Tax Specialist: Navigate the intricate maze of taxation.14. Tax Strategy: Formulate effective tax-saving methods.15. Compliance & Reporting: Adhere to the ever-evolving tax laws.16. Audit Defense: Safeguard against potential tax inquiries.17. Tax Forecasting: Predict future tax implications.🔘 Accountant: The backbone of everyday financial health.18. Record Keeping: Maintain pristine financial records.19. Financial Statements: Generate periodic business health reports.20. Reconciliation: Ensure accuracy in books.21. Tax Preparation: Assist in timely and accurate tax filing.These roles encompass different aspects of Finance & Accounting, catering to various interests and skill sets.Explore these areas, identify your interests, and tailor your learning path accordingly.Determined to elevate your financial strategy but unsure where to start?

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Key Finance & Accounting Roles ExplainedEmbarking on a career in Finance & Accounting?You would like to know where you fit and what to learn.Here’s a step-by-step guide to critical roles and responsibilities:🔘 CFO (Chief Financial Officer): For those who envision the financial big picture.1. Strategic Planning: Cultivate a holistic view of financial growth.2. Capital Structuring: Master the art of effective funding.3. Risk Management: Grasp crucial techniques to safeguard assets.4. Stakeholder Communication: Build bridges with investors and board members.5. Forecasting: Harness the power of future financial insights.🔘 Financial Analyst: Dive deep for those analytical minds.6. Data Analysis: Extract significant patterns from financial data.7. Budgeting & Planning: Understand the nuances of allocation.8. Performance Metrics: Discover vital KPIs for business health.9. Report Creation: Master the art of insightful reporting.🔘 Internal Auditor: For the diligent and detail-oriented.10. Risk Assessments: Spot vulnerabilities before they escalate.11. Process Evaluations: Streamline operations for efficiency.12. Compliance Checks: Ensure adherence to financial standards.13. Recommendations: Provide insights for optimization.🔘 Tax Specialist: Navigate the intricate maze of taxation.14. Tax Strategy: Formulate effective tax-saving methods.15. Compliance & Reporting: Adhere to the ever-evolving tax laws.16. Audit Defense: Safeguard against potential tax inquiries.17. Tax Forecasting: Predict future tax implications.🔘 Accountant: The backbone of everyday financial health.18. Record Keeping: Maintain pristine financial records.19. Financial Statements: Generate periodic business health reports.20. Reconciliation: Ensure accuracy in books.21. Tax Preparation: Assist in timely and accurate tax filing.These roles encompass different aspects of Finance & Accounting, catering to various interests and skill sets.

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Strategic Finance vs. Traditional Accounting Role.🔍 Navigating the Finance Landscape: Traditional Accounting vs. Strategic Finance 🔍Are you intrigued by the intricate workings of finance? Let's delve into the captivating disparities between traditional accounting and strategic finance roles!Traditional Accounting:📊 Primarily concerned with recording, organizing, and reporting financial transactions.📈 Ensures compliance with regulatory standards and delivers accurate financial statements.💼 Responsibilities encompass bookkeeping, ledger maintenance, and managing accounts payable/receivable.🔍 Focuses on short-term objectives, addressing immediate financial needs and periodic reporting requirements.Strategic Finance:🚀 Centers on fortifying long-term financial health and formulating growth strategies.💡 Involves dissecting data to furnish insights crucial for decision-making regarding investments, risk mitigation, and business strategy.💼 Key duties include financial planning & analysis (FP&A), budgeting, forecasting, and evaluating investment prospects.🔍 Explores medium to long-term perspectives, discerning the future implications of present actions.Key Contrasts:🔍 **Focus:** Traditional accounting deals with historical records and regulatory compliance, while strategic finance is forward-thinking and growth-oriented.📈 **Responsibilities:** Traditional accountants manage day-to-day transactions and reporting, whereas strategic finance professionals steer strategic decision-making.📊 **Skills:** Traditional accounting demands precision and adherence to accounting standards, while strategic finance requires proficiency in financial analysis, modeling, and strategic acumen.🌟 **Impact:** Traditional accounting ensures financial accuracy, while strategic finance shapes the company's trajectory through strategic planning and analysis.Whether your passion lies in meticulous record-keeping or strategic business maneuvers, both traditional accounting and strategic finance offer captivating avenues within the finance domain. Which path resonates with your aspirations?Let's continue this enthralling discussion! Share your insights in the comments below. 👇#Finance #Accounting #StrategicFinance #CareerGrowth #FinancialAnalysis #BusinessStrategy #LinkedInConversation

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Dear ProfessionalsFINANCE IS NOT ACCOUNTING.I discovered that alot of young professionals cannot really differentiate between Finance and Accounting even though in theory, they knew it is not the same but they can't really pick out the difference.finance and accounting are two separate disciplines within the field of business. While they are closely related, they focus on different aspects of managing an organization's resources.Accounting involves recording, organizing, and analyzing financial transactions. It deals with the preparation of financial statements, maintaining financial records, and ensuring compliance with regulatory requirements. Accounting provides insights into the historical financial performance and current financial position of a company.Finance is concerned with the management of money and investments. It involves assessing the financial needs of an organization, making decisions regarding the allocation of resources, and analyzing the potential risks and returns of different investment opportunities. Finance covers areas such as financial planning, budgeting, raising capital, and managing financial risks.Both accounting and finance requires some specific skills: Accounting skills:1. Knowledge of financial principles: Understanding accounting principles, concepts, and standards is essential for accurate recording and reporting of financial transactions.2. Financial statement analysis: Ability to analyze and interpret financial statements such as balance sheets, income statements, and cash flow statements to assess the financial health of an organization.3. Attention to detail: Accounting involves maintaining accurate records and ensuring that financial transactions are properly recorded.4. Mathematical and analytical skills: Proficiency in basic math and analytical reasoning is important for performing calculations, reconciling accounts, and identifying discrepancies.5. Technical expertise: Familiarity with accounting software and spreadsheet applications like Excel is crucial for data entry, analysis, and financial reporting.Finance skills:1. Financial analysis: The ability to analyze financial data, identify trends, and make informed decisions based on financial information is key in finance.2. Financial planning and forecasting: Developing budgets, financial plans, and projections to guide the organization's financial goals and strategies.3. Investment analysis: Assessing investment opportunities, evaluating risks and returns, and making investment decisions that align with the organization's objectives.4. Risk management5. Communication and presentation skills.Let us continue in the comments section Found this useful? Please share with others to learn and follow my page for more updates #ican #acccounting #finances #corporatefinance #managementaccounting #acca #skills #decisionmaking #tax #audit #investment #management

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Hello LinkedIn connections. Today i want to share some valuable insights between Accounting vs. Finance 📊1.Accounting: The Language of Business Transactions 📚Accounting serves as the meticulous translator of financial events. It records, classifies, and interprets transactions, providing the historical narrative of a company's financial story.2.Finance: Shaping Future Financial Landscapes 🚀💡Finance, on the other hand, takes the historical data provided by accounting and uses it as a canvas for future financial masterpieces. It involves strategic planning, risk assessment, and decision-making to drive growth. 3.Accounting's Precision vs. Finance's Vision 🎯🔍Accounting thrives on precision—balancing ledgers, ensuring compliance, and providing an accurate financial snapshot. Finance, however, thrives on vision—using data to forecast, strategize, and propel the organization toward its goals.4.Past Reflections vs. Future Innovations: Building on History 🕰️🚀Accounting reflects on the past, capturing historical transactions and financial snapshots. Finance, however, embraces a forward-looking approach, utilizing historical data as a foundation to innovate and drive future success. 5.Compliance Rigidity vs. Strategic Agility: Navigating the Regulatory Landscape 📜🔄Accounting ensures compliance with rigid financial standards and regulations, providing a structured framework. Finance, on the other hand, operates with strategic agility, adapting to regulatory changes while maintaining a focus on organizational goals.

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