Be a FULL STACK Finance & Accounting professional
The term “Full stack” is most commonly used amongst software engineers, highlight someone who can focus on the front end, as well as the back end.
Finance & Accounting is no different
I’ve seen this mistake so many times in my career:
😩 A Controller who continues to focus on what’s happening, but can’t explain where the business is going
😩 An FP&A manager who knows all of the ins and outs on the financial data it is presented with, but is clueless on how accounting compiled that data
😩 An AP clerk knows how to process payables efficiently and reliably, but can’t understand the ins and outs on how an adjusting journal entry works
😩 A VP of Finance who owns the forecast an reports to the board of directors, but has no idea how a journal entry affected the 3 statements
It doesn’t have to be this way.
You have a choice
Continue to focus on what you know
Or step out of your comfort zone to learn both sides of FP&A and Accounting (learn more about the difference between there here)
Here’s what happens when you learn both
✅ Your job prospects greatly improve
✅ Your compensation, which is a reflection of the value you bring, goes up exponentially
✅ You start to understand the full picture, allowing you to perform each function better
✅ You perform higher level, more challenging tasks that stimulate your mind
✅ You get to work with many great people in unison
But that’s not where the value ends. The value also gets magnified to the company that you work for.
When FP&A and Accounting work together..
🤝 Projections are way more defensible
🤝 Timeliness of reporting is improved
🤝 Resources are used efficiently
🤝 Greater insights are gained
And this is how to be a FULL STACK Finance & Accounting professional..