The Importance of Context in Financial Data Reporting - November 2015
As a market leader in the accounting and finance recruitment space we have noticed that whilst recruitment managers are still requiring specific accounting technical skills, there is an increasing demand for candidates that are multi-talented with strong analytical capabilities.
With managers’ roles becoming increasingly multi-faceted and the time available to focus on interpreting the numbers delivered by the accounting team diminishing, a new type of accountant is required. An accountant who is not only expected to provide high quality, accurate accounts, but who is able to offer valuable insight and reliable recommendations based on their findings.
According to a report by CEB, only 20% of managers who utilise financial data provided by their accounting function found that the data offered insights or any notable trends, with only 35% deeming the data as applicable to their business needs.
CEB note that although many accounting functions have settled on a clear, standardised, one-size-fits-all presentation of financial data, this is still open to misinterpretation. As the majority of organisations gear their financial reporting towards external stakeholders, ensuring the information is trustworthy and precise, the area that is often overlooked is the commentary and recommendations for business decisions and direction.
The best way for this to be collated is directly from those with the greatest understanding of the numbers, who can cross-reference different reports and data and are able to use their hands-on knowledge to leave no room for misconception amongst management.
If this changing environment leaves you seeking a high-calibre accountancy or finance professional with a real gift for providing analytical insight and influencing decision-making processes, get in touch with your local Sheridan Maine office to hear more about some of the talented candidates we are currently working with!
Sheridan Maine’s unmatched knowledge of Finance and Accountancy Recruitment is why they are the go-to specialists for permanent, contract and interim positions for a broad range of clients across Basingstoke, South Hampshire, Reading, Bournemouth, Bristol, London and Birmingham.