Winning CFOs: Implementing and Applying Better Practices, with Website

CHAPTER 6

Managing the Accounting Team

In this chapter I have extracted some of key lessons chief financial officers (CFOs) need to learn about managing staff from my recent book, The Leading-Edge Manager’s Guide to Success.¹ At some point it would be worth reading the other issues that I have had to omit due to space constraints.

There are many ways for you to better manage your accounting staff. Some of the major ones are discussed in this chapter.

Hold an Off-Site Meeting for the Accounting Team at Least Twice a Year

Some teams hold a half-day, off-site meeting every month after they have completed their quick month-end. Exhibit 6.1 shows the agenda items of a typical off-site meeting. One of the meetings will set the annual goals of the team. The CFO will prepare the first cut of the goals for the accounting team, which support the organization’s operating plan. During discussion these are broken down, developed, and taken on by individuals on the team. The benefits of this approach are that the team members are fully aware of one another’s goals and there is a greater degree of ownership to make it happen.

EXHIBIT 6.1 Agenda of a Team Off-Site Meeting

Agenda of the Accounting Team MeetingDate and Time: xxxxxxLocation: xxxxxxSuggested Attendees: All the accounting team with special guests xxxxxxxx, xxxxxxxx, xxxxxxxxRequirements: Session secretary (Pat Carruthers), laptops × 2, data show, whiteboards × 2
8:30 A.M.	Welcome by CFO, a summary of progress to date, outline of the issues, ...