Fostering Innovation

35Accounting, My Worst Subject

In the fall of 1997, I was working as a manager of applications at Express, Inc., which was a division of Limited Brands. Our director (my boss) and our CIO (his boss) both resigned in rapid succession. Three of the managers—Gary, Bob, and I—were summoned to the CFO's office. In 1997, Express wasn't the open-door culture that companies cultivate these days. The CFO's office was a scary place that I had never visited before.

The CFO informed us that we were now directors and should divvy up the IT Department accordingly. I spoke first and said I'd take the planning, merchandizing, and replenishment systems. Bob jumped in and claimed purchasing and distribution, leaving Gary with point-of-sale and the general ledger. The three of us were happy with the arrangement, since we were essentially already doing these jobs. Gary then added, “I have a degree in accounting. I can manage the IT expenses.”

I was relieved. The prior director and the CIO had managed the expenses. I barely scored a C in my only two accounting classes, and I was already working long hours. The last thing I wanted to do was some double-entry accounting.

A few weeks passed, and I asked the CFO if I could send a few team members to a training class. His reply was, “Is it in the budget?” Looking back, that's a common CFO question that I should have been prepared to answer. I said, “I have no clue; I'll go ask Gary.” Gary told me, “Sorry, there is no money for training—they can't go.” ...