TRG Blog

4 Most Effective Training and Development Methods for Finance Professionals

Posted by Rick Yvanovich on

In a study by the Chartered Institute of Management Accountants (CIMA), different types of training and development methods were ranked according to how useful each one was rated by senior finance professionals.

The top 4 useful types were “learning through doing”, followed by “external training courses supported by the organisation”, “external continuing professional development supported by the organisation”, and “in-house education and training face-to-face”.

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Topics: Financial Accounting Management Software

Global Management Accounting Principles Explained in 800 Words

Posted by Rick Yvanovich on

Businesses, no matter how big or small, all want to make high quality, impactful business decisions. In order to be able to do so, the business must be equipped with accurate, fact-based and timely data. This is where management accounting comes in.

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Topics: CFOs, Financial Accounting Management Software

Management Accounting vs. Financial Accounting

Posted by Thai Pham on

Since the early days, Management Accounting has played a critical role in helping executives to make impactful decisions. However, many people have easily mistaken Management Accounting for "Financial Accounting". When you clearly understand these two concepts, you will see that they have obvious fundamental differences.

Read more: Why Management Accounting is Essential for Sustainable Success

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

Must-have Qualities of Hotel Accounting Information

Posted by Thai Pham on

In today’s modern business environment, accounting is not solely about getting the numbers right anymore. It is how the data generated from accounting can contribute to decision-making, and thus drive growth. The same applies to accounting for hotels.

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Topics: Hospitality solutions, Financial Accounting Management Software

Revamping Financial Analysis to Gain Business Insight

Posted by Rick Yvanovich on

Financial analysis dates back centuries, at least to the codification of double-entry bookkeeping in the 15th century. The analysis of balance sheets and income statements has long served as the basis of credit and lending decisions.

The discipline of management accounting developed in the early 20th century as a way of using accounting data to keep corporate executives and managers informed about what happened or is happening and why.

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

Why Management Accounting is Essential for Sustainable Success

Posted by Thai Pham on

In today’s ‘VUCA’ world—characterised by volatility, uncertainty, complexity and ambiguity— it is becoming harder and harder to get right. As discontinuity becomes the norm and the most established business models come under threat, business leaders may need to adapt their models or develop new ones. How can organisations achieve sustainable success in a constantly changing environment?

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Topics: CFOs, Financial Accounting Management Software

The Link between Sustainability Management and Business Financial Management

Posted by Rick Yvanovich on

More and more companies are coming to realise that sustainability performance management (SPM) can create and protect their businesses’ long-term value. Thus, defining the link between sustainability and business performance becomes critical in business management, especially in financial aspects.

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Topics: Financial Accounting Management Software

Revamping Corporate Financial Planning: 8 Points to Remember

Posted by Thai Pham on

As the world is heading towards an uncertain future, businesses can expect some unexpected events along the way. Therefore, agility needs to be embedded in every business process, including corporate financial planning.

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Topics: CFOs, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Financial Accounting Management Software

What is Investment-based Budgeting and Why It Matters

Posted by Thai Pham on

Shortcomings associated with the traditional budgeting approach can undermine the true value of the process. Budgeting should be less cost-driven and more investment-based, i.e. all forecasted costs of a department should be attached to deliverables—the products and services that department delivers to other departments or to the clients. Doing so will make budget decisions investment decisions.

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Topics: CFOs, Financial Accounting Management Software

Why You Should Strive for an Efficient Financial Close

Posted by Rick Yvanovich on

In today’s fast-moving world, companies have to juggle multiple priorities when managing their business, such as overseeing financials transactions, measuring corporate performance, attesting financial reports, timely closing and consolidating financial data. Thus, it is no surprise that CFOs are always aiming to close books and comply with regulations faster and more efficiently.

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Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Financial Accounting Management Software

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 Rick Yvanovich
 /Founder & CEO/

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