Financial Management (FM) magazine
The Financial Management (FM) magazine podcast series features conversations with executives and thought leaders in management accounting. We discuss topics including governance, risk management, performance management, technology, corporate strategy, and leadership. Interviews are conducted by FM editors and contributors.
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A road map to avoid losing your way on digital transformation
05/01/2024
A road map to avoid losing your way on digital transformation
The best time to start on digital transformation? Well, it was five years ago. But, says digital transformation expert David Rogers, starting now is the next best time. Rogers, an author, speaker, and corporate consultant, is also a professor at Columbia University. He explains some of the ways companies hurt themselves in transformation efforts, why people management is such a big part of those digital changes, and how some companies are making gains even without big budgets or fancy, new apps. What you’ll learn from this episode: · A discussion on why digital transformations are so difficult. · The importance of people alignment in a digital transformation effort. · Why budgeting is not a vital part of such transformations. · The advice about planting a tree that also applies to digital transformation urgency. · Why there is no single KPI for digital transformation.
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April FM: Sustainability, credible leadership, delivering bad news
04/03/2024
April FM: Sustainability, credible leadership, delivering bad news
This episode features Oliver Rowe, the editor-in-chief of FM, detailing the contents of the April digital edition of the magazine. Rowe explains how members can access the most recent edition of the online magazine. He also highlights several articles, including this edition’s theme of sustainability. One noteworthy column, on businesses increasingly taking a multicapital approach to maximising value, was written by CIMA President Sarah Ghosh, FCMA, CGMA. Ghosh recently was a guest on the FM podcast, speaking about . Also, features Rowe speaking about the February edition. What you’ll learn from this episode: · The paths for members to access content in the digital editions. · Highlights of the April edition, including focus areas of sustainability and leadership. · The advice regular contributor Rhymer Rigby gives for delivering bad news. · The focus of Liam Bastick’s column on using Microsoft Excel.
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Davos debrief: A firm CEO shares her unforgettable experience
03/20/2024
Davos debrief: A firm CEO shares her unforgettable experience
Avani Desai, CPA, attended the World Economic Forum’s annual meeting in Davos, Switzerland, in January. It was her first visit to the mountain town’s famed event that brings together world leaders and subject matter experts. In this episode of the FM podcast, Desai reflected on the lessons she learned and on the perspective she gained — as an attendee and a discussion moderator. Desai led a panel discussion on the intersection of artificial intelligence (AI), supply chains, and cybersecurity. She summarised some of the lessons she can apply to her role as CEO of a large US accounting firm. What you’ll learn from this episode: · Desai’s description of the World Economic Forum meeting in Davos, Switzerland. · Details of the panel discussion that Desai led. · The session that was “definitely a highlight” for Desai. · The tie-in between AI and cybersecurity. · Why the International Women’s Day theme resonates with her. · How one mentoring experience changed Desai’s view of Schellman’s messaging about the profession. · The lessons from Davos she has taken back to her firm.
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Inspire inclusion: Amplifying women’s voices, seizing the future
03/06/2024
Inspire inclusion: Amplifying women’s voices, seizing the future
, FCMA, CGMA, is most of the way through her one-year term as CIMA president. In this episode of the FM podcast, intended to recognise International Women’s Day, she reflects on people she’s met, questions she’s asked, and progress made on numerous fronts. Ghosh discussed the launch of an AICPA & CIMA mentoring programme, reflected on her background in technology, and shared highlights of her global travels. FM resources: Article about a Article about a Article about a AICPA & CIMA resource: Main page on What you’ll learn from this episode: · Three themes of her term as CIMA president. · How the accounting profession can continue to be purpose-driven. · Ways in which the profession can take the lead on inspiring inclusion. · The stories of female leaders that “are really powerful”.
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Condensing business ethics: ‘Focus on problems you can solve’
02/27/2024
Condensing business ethics: ‘Focus on problems you can solve’
Author Alison Taylor, a clinical associate professor at New York University’s Stern School of Business, explains the reasons business ethics has become a “confused topic” and why treating ethical problems as “tick-the-box PR” can make leaders look directionless. Taylor’s book, Higher Ground: How Business Can Do the Right Thing in a Turbulent World, opens up a discourse on new ways to approach this complex landscape and highlights the importance of prioritising fundamental values, with the impact on human beings at the centre of decision-making. What you’ll learn from this episode: Why business ethics is a complex issue. The problems arising from conflating ethics and ideology and treating “CEOs as politicians”. How to cut through the noise by taking a people-centric approach. The reasons that leaders should avoid treating ethics and impact issues as public relations problems. The importance of understanding and focusing on your core values.
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February FM: Fraud, working with a new boss, tech adoption
01/31/2024
February FM: Fraud, working with a new boss, tech adoption
This episode features an occasional host of previous FM podcasts, Oliver Rowe, who is editor-in-chief of FM. Rowe explains how members can access the most recent edition of the online magazine. He also details some of the articles, including those by AICPA & CIMA leaders. Resources: n The to access FM editions. n The public link for , featuring news, podcasts, and more. n A previous, hosted by Xose Lumor. What you’ll learn from this episode: · Details on the frequency of FM editions. · Two paths for members to access the content in the editions. · An explanation of the fraud triangle and highlights of Xose Lumor’s article on the topic. · More on Rhymer Rigby’s career-focused article about dealing with the departure of the boss who hired you. · One article’s practical advice on leading digital strategy.
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‘Always keen to learn’: Advice on fuelling finance’s future
12/20/2023
‘Always keen to learn’: Advice on fuelling finance’s future
Andrew Harding, FCMA, CGMA, chief executive—Management Accounting at AICPA & CIMA, made the trip to Orlando, Florida, last week to continue in the knowledge sharing that occurs at the Future of Finance Summit, a US event in its third year and one with companion events in other parts of the world. In this FM episode recorded at the summit, Harding shared key takeaways, insights into the optimism from businesses in China, and why one session topic took him back to his days as a coach on the football pitch. He also offered a succinct, three-pronged message for the profession in 2024. What you’ll learn from this episode: · The importance of “learn, unlearn and relearn” for finance professionals. · An explanation of the T-shaped model for skill and knowledge development. · Why a session on how women can gain appointments to corporate boards resonated with Harding. · His observation about China’s use of digital payments being different than in other parts of the world. · An explanation of the T-shaped model for skill and knowledge development. · The key trends affecting the profession in the new year.
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Staying one step ahead: A cybersecurity tool for all
11/29/2023
Staying one step ahead: A cybersecurity tool for all
A single cybersecurity breach can cost millions of dollars, so it’s critical that companies take a proactive approach and commit to shoring up their defences by making informed decisions and investments. An updated CGMA cybersecurity tool provides a place to start. Ken Witt, CPA, CGMA, AICPA & CIMA's associate director–Management Accounting Research and Development, joins the FM podcast to discuss the latest trends in cybersecurity and share details about what the recently released tool offers organisations of all sizes. What you’ll learn from this episode: · How digitalisation sped up by the pandemic has accelerated cyber risk. · The stunning price tag of a security breach and the areas that are most vulnerable to breaches. · The unique challenges facing small entities, and a small step they can take to combat their concerns. · Top “amplifiers” and “mitigators” that finance decision-makers should keep in mind. · How the CGMA cybersecurity tool can help IT pros and non-IT stakeholders alike.
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Distracted by digital communication? How to regain control
11/15/2023
Distracted by digital communication? How to regain control
Productivity expert and author discusses the reasons people struggle with productivity and why digital correspondence is, despite its advantages, creating a challenging environment for communication. at the UK and Ireland ENGAGE several months ago, and she offers tips to help leaders and employees to channel productivity into their working lives. Watts, a co-author of How to Fix Meetings: Meet Less, Focus on Outcomes and Get Stuff Done, explains why technology can sometimes be more of a hindrance than an aid, why less is more when it comes to setting priorities, and shares strategies we can use to “get in the zone” in an era of urgency and distraction. What you’ll learn from this episode: § Three common reasons why people struggle to stay productive. § Why our reliance on digital tools to improve communication can be antithetical. § How leaders and managers can respond to cultures that are enabling burnout. § Why flexible working is a challenging balancing act. § How to get a better understanding of daily goals and priorities.
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Integrated performance management: A framework to inspire success
10/25/2023
Integrated performance management: A framework to inspire success
from AICPA & CIMA, together as the Association of International Certified Professional Accountants, and the World Business Council for Sustainable Development (WBCSD) found a disconnect between the way leaders operate in day-to-day business and the long-term strategic initatives that keep businesses relevant and competitive amid constant change and transformation. Peter Spence, associate technical director of management accounting at AICPA & CIMA, and Andy Beanland, a former consultant with the WBCSD, provide further insight into why business strategies are becoming increasingly complex, and why a holistic, adaptive approach to performance is necessary to set businesses up for long-term success in an era of disruption. Resource page AICPA & CIMA What you’ll learn from this episode: § How integrated performance management can help drive better business decision-making. § Some of the reasons businesses today may fail to fully execute their strategies. § Why silo mindsets make for weak management systems. § Analysis of the differences between weak-matrix and strong-matrix management systems. § The importance of adaptability and innovation in an era of change. § How to create a performance culture that engages workforces.
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Beyond the Code: Full disclosure is the right ethics move
10/12/2023
Beyond the Code: Full disclosure is the right ethics move
This episode of the FM podcast is the start of an occasional series on the show. That series is called Beyond the Code. In this case, that means taking a close look at the . Xose Lumor, manager, Advocacy and Professional Ethics – Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants, talks with disputes attorney Alastair Campbell, of the firm Level, about some of the ethical issues that accountants should be prepared to face. The vast majority of CIMA members comply with regulations, and misconduct is not the norm. But there are instances where ethical violations are reported or alleged. Campbell takes listeners through some of those examples and reminds accountants that being “unimpeachable in terms of your integrity” is one key way to make sure no ethics missteps occur. Resources: Campbell’s contact information: and Lumor’s contact information: and More about
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Advice from sibling CEOs: Be yourself, be curious, be accountable
08/23/2023
Advice from sibling CEOs: Be yourself, be curious, be accountable
It makes sense that the themes emerging from the words of Phillipa Spicer, FCMA, CGMA, and Bruce Martin, ACMA, CGMA, are similar — they are sister and brother, both having ascended to CEO roles in the UK. Spicer set forward on a path to becoming a management accountant, and her younger brother followed. In this conversation, hear about their early trips to the office while growing up in South Africa, the questions they got from students, and the advice they give about being your own self as a CEO. What you’ll learn from this episode: · Martin and Spicer’s youth in South Africa (2:24). · The early exposure they had to office “work” (5:50). · Spicer’s reflection on “being really fortunate” to land a temporary role with Unilever (7:01). · How Spicer has applied her work in other sectors to the role as CEO of a charity (9:03). · Martin’s path to a role at Vodafone in the UK and then other businesses (12:26). · The top challenges that Spicer (17:42) and Martin (20:03) have overcome to make the move from finance leader to chief executive. · The siblings’ recall of speaking about career journeys with university students (Spicer at 22:25 and Martin at 24:57). · Advice from Martin (28:15) and Spicer (29:39) for aspiring CEOs. · Why Spicer advises budding leaders to “make your own kind of music” (30:54).
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Future of finance: The power of people and mindset
07/19/2023
Future of finance: The power of people and mindset
AICPA & CIMA research on the future state of the finance profession found emerging themes from global discussions with leaders around the world. Some of these themes include automation, hybrid working, sustainability, and moving beyond traditional finance roles. Rebecca McCaffry, FCMA, CGMA, associate technical director at AICPA & CIMA, together as the Association of International Certified Professional Accountants, discusses the shift from traditional finance in a digital world, to a new era of soft skills as the value of people and connection takes focus. What you’ll learn from this episode: § How finance roles are becoming less fixed and more adaptable. § An overview of focus areas for management accountants and finance leaders across the globe. § The shift of focus from digital to soft skills, and why those skills are becoming more ingrained into the culture and priorities of accountants now. § How the younger generation is influencing change in the profession.
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Advice on lifelong learning, difficult conversations, time management
06/21/2023
Advice on lifelong learning, difficult conversations, time management
Christina Thomas-Lewin, FCMA, CGMA, is now assistant financial controller for a US company, but she got her start in finance in the UK. In this podcast episode, Thomas-Lewin discusses her career moves, the value of lifelong learning, and the meaning behind the phrase “block it out to knock it out.” She also talks about the importance of delivering potentially negative feedback and how that skill can help both employees and managers. What you’ll learn from this episode: · An overview of Thomas-Lewin’s career path. · The overseas destinations that she had in mind before moving to the US. · Why lifelong learning is one of Thomas-Lewin’s passions. · More about her advice phrase “block it out to knock it out.” · What she learned from being a trampolining coach.
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Global Management Accounting Principles: The art of thinking and doing
06/06/2023
Global Management Accounting Principles: The art of thinking and doing
This episode of the FM podcast focuses on the newly updated (GMAPs). The principles, first released nearly 10 years ago, provide a framework for management accountants. The most recent version updates that framework to reflect new business realities. David Hackett, an AICPA & CIMA technical manager, looks back at the previous version of the GMAPs and explains some of the key updates. The GMAPs, scheduled to be Wednesday at AICPA & CIMA ENGAGE 2023, are designed to lead management accountants and their organisations to better decision-making. What you’ll learn from this episode: · An explanation of the GMAPs. · A timeline of the most recent update to the GMAPs and some of the changes that spurred the update. · Some of the external factors leading to a need for more agility, according to Hackett. · How a management accountant can use the GMAPs to solve problems. · The GMAPs’ application to wider business and not just finance.
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Learning the power of finance — one management accountant’s path
05/17/2023
Learning the power of finance — one management accountant’s path
Grace Baxter, ACMA, CGMA, initially thought she would pursue a career in physics. But she’s happy with the switch she made to accounting, where she became CIMA qualified and later landed a role at the UK Department of Environment, Food and Rural Affairs (DEFRA). Baxter is now head of management reporting for DEFRA, and she also serves on a CIMA regional advisory group, service that helps her gain perspective from other finance professionals. Baxter shared advice to aspiring accountants about perseverance and trying different roles in this episode of the FM podcast. What you’ll learn from this episode: · An overview of Baxter’s path from a physics degree to her role at the Department of Environment, Food and Rural Affairs. · Baxter’s thought on the influence of finance on day-to-day business decisions. · The value Baxter has found in both CIMA qualification and the CGMA designation. · The part of Baxter’s early training about which she said, “I wanted to cry.” · Baxter’s advice to aspiring finance professionals about perseverance.
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A business imperative for promoting employees’ mental health
05/10/2023
A business imperative for promoting employees’ mental health
Genevieve Hawkins, a business leader based in Melbourne, Australia, had a previous career in occupational therapy. That’s one part of her background that contributed to the decision to write a book about workplace mental health. Hawkins said that, in the past, most organisations left mental health to the employee. That’s changing, but it can change more. In this podcast episode, to recognise mental health awareness in the month of May, Hawkins explains simple ways that leaders and companies can create a sense of belonging for staff. She also addresses how managers can “understand their shadow”. What you’ll learn from this episode The reasons Hawkins decided to write a book about mental health in the workplace. Her explanation of the multiple layers of connection. One aspect of working from home that is good for Hawkins’ mental health. Why Hawkins said that the move to remote and hybrid work has been both a benefit and an obstacle to employee mental health. What Hawkins means by understanding “our shadow”. A Stephen Covey quote that stands out to Hawkins.
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Understanding the opportunities presented by ESG
04/19/2023
Understanding the opportunities presented by ESG
Jeremy Osborn, FCMA, CGMA, wants to make sure finance professionals are prepared for all that's coming their way. Osborn, AICPA & CIMA's global head of ESG, joined the FM podcast for a two-part discussion on the rising importance of ESG initiatives. In , Osborn explained why ESG, along with related auditing and assurance opportunities, is becoming mainstream. In this part, he discusses his early interest in ESG topics, describes the current landscape of ESG reporting, and shares three reasons people take ESG seriously. Osborn also explains how ESG has had a role in the shift that has happened related to understanding a company’s value. What you’ll learn from this episode: · An overview of the reporting requirements of the UK’s Task Force for Climate-related Financial Disclosures (TCFD). · How activities such as skiing in Switzerland have been affected by climate change. · Why sustainability-related concerns are no longer simply “a risk to be managed”, according to Osborn. · How an understanding of ESG information can shed light on the value of an organisation. · Why the growing importance of ESG is, according to Osborn, one of the most significant changes the accounting profession has faced.
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ESG reporting: Ready or not, here it comes
04/12/2023
ESG reporting: Ready or not, here it comes
It’s a big year for ESG initiatives, and Jeremy Osborn, FCMA, CGMA, wants to make sure finance professionals are prepared for all that’s coming their way. Osborn, AICPA & CIMA’s global head of ESG, joined the FM podcast for a discussion on the business reasons to pay attention to ESG, how he became interested in the topic about 15 years ago, and why he was excited to be part of a niche practice area that is today becoming mainstream. This is part one of a two-part interview with Osborn. The second part will publish on 19 April.
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International Women’s Day: Embracing equity, empowering others
03/08/2023
International Women’s Day: Embracing equity, empowering others
This episode of the FM podcast features two leaders in the accounting profession globally. Alicja Dworowska, ACMA, CGMA, is finance director at Thermo Fisher Scientific and also a coach and mentor. Lindsay Stevenson, CPA, CGMA, is chief transformation officer at the firm BPM LLP and chair of the AICPA Women’s Initiatives Executive Committee (WIEC). Role models for all, Dworowska and Stevenson are passionate about advancing women in the profession. That passion came through in this conversation, recorded in February and published to celebrate International Women’s Day. They spoke about mentorship.
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Future of finance: A beyond-the-numbers focus on people, process
12/16/2022
Future of finance: A beyond-the-numbers focus on people, process
The themes of sessions at the Future of Finance Summit, which concluded earlier this month in Austin, Texas, were global in nature: talent development, transformation of the finance function, and managing amidst uncertainty. There was, however, one comment from a speaker that stood out to Andrew Harding, FCMA, CGMA, chief executive–Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants. The comment was about numbers, yet as Harding pointed out, the Future of Finance Summit had no sessions about numbers.
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An intense rowing challenge and its management accounting lessons
08/03/2022
An intense rowing challenge and its management accounting lessons
David Tiplady, ACMA, CGMA, head of commercial, Vodafone Automotive, is in training for an intriguing and difficult competition. He’s part of a four-man team rowing without support across the Atlantic Ocean, from the Canary Islands to the Caribbean, in 2023. He joins host Kyle Hannan to discuss the planning and training that’s underway, along with contingencies already being considered, well before the team hits the open water. He shares advice for reaching a stretch goal, concern about marlin strikes, and risk management lessons.
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‘Unlocking hidden value’: Why purpose should be more central to business
05/06/2022
‘Unlocking hidden value’: Why purpose should be more central to business
Harvard Business School professor and author Ranjay Gulati says that sentiment is growing among business leaders that companies have a larger role to play than simply providing shareholder value. He joined the FM podcast to discuss that topic and others highlighted in his recent book, Deep Purpose: The Heart and Soul of High-Performance Companies. Gulati explains about when he realised the expectation “that businesses have to do more” is growing dramatically and what a leader at Lego said about finding purpose.
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Freezing and unfreezing: Thoughts on the redesign of work
04/01/2022
Freezing and unfreezing: Thoughts on the redesign of work
Well before the COVID-19 pandemic led to a remote work revolution, Lynda Gratton was thinking about how work should be redesigned. Gratton, an author, consultant, and professor, is a world-renowned expert on organisational behaviour. She joined the FM podcast to discuss some of the thoughts in her new book, Redesigning Work: How to Transform Your Organisation and Make Hybrid Work for Everyone. Gratton also spoke about what organisations around the world are saying about the future of hybrid work and what she’s learned from keeping a journal for more than two years.
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Better risk management: A worthy pursuit at a critical time
02/02/2022
Better risk management: A worthy pursuit at a critical time
Risk management is no longer an annual, tick-the-box exercise. It’s a regular, vital part of an organisation’s business plan. To provide a framework and questions that risk leaders should consider, a new tool has been developed and published. Jeff Parkison, CPA, CGMA, a US finance leader, is a co-author of the updated document, which is called “”. He explains why enhanced risk management is needed and how the tool and its checklists can help organisations.
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Excel tips: Top 4 functions to improve efficiency in 2022
01/26/2022
Excel tips: Top 4 functions to improve efficiency in 2022
In this second part of this series on Excel, Liam Bastick, FCMA, CGMA, an Excel MVP, shares what he thinks are the top functions for accountants and finance professionals, Excel’s limitations, and what he thinks is the future direction of this most popular spreadsheet software in the world.
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Excel tips: Power Query, LAMBDA function, and why Excel is still relevant today
01/12/2022
Excel tips: Power Query, LAMBDA function, and why Excel is still relevant today
In this first episode of a two-part FM podcast series on Excel with FM contributor and Excel trainer Liam Bastick, FCMA, CGMA, we look at the most common mistake accountants make when using Excel, whether Excel is outdated and should be replaced with other software, and the new LAMBDA function.
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Skills development: How to create a learning plan
12/08/2021
Skills development: How to create a learning plan
In this second episode of a two-part FM podcast series on skills, Gary Cox, ACMA, CGMA, a coach for businesses and individuals, describes how to create a learning plan. He recommends conducting an audit of current skills and those needed over the next three years. Making incremental progress and finding someone to support or champion you from inside or outside the finance team — or outside your company — can also move you toward your goals. In “”, the first of the two FM podcasts, Cox discusses the in-demand finance skills of effective use of data, insights, and “really good storytelling”.
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Breaking down COP26 announcements and their implications
12/02/2021
Breaking down COP26 announcements and their implications
There was a dizzying array of announcements during the two-week UN climate change summit last month. Which ones matter for accounting and finance professionals? Martin Farrar, Ph.D., associate technical director at AICPA & CIMA, breaks down key pledges by governments and businesses, and new requirements on the horizon that accounting and finance professionals should know.
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Skills development: Which ones will you need?
11/24/2021
Skills development: Which ones will you need?
In this first episode of a two-part FM podcast series on skills, Gary Cox, ACMA, CGMA, a coach for businesses and individuals, describes the in-demand finance skills of effective use of data, insights, and “really good storytelling”. The second episode will look at how to create a learning plan — analysing the skills you have today and those you will need over the next three years.
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