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Former accountant here. I have issues with your accomplishments:
1) That 60% figure lacks context and is basically unverifiable. I would view it as probably B.S. and mostly puffing.
2) OK to say you exceeded expectations, but saying you are understaffed is a slap at your company and former boss. Not to mention a possible red flag to customers, their competitors and regulators. That's not stuff you say in a resume.
3) Don't mention errors, focus on your ability to spot exceptions and resolve them.
4) Did you draft new rules or procedures, did you author any changes or were part of a committee that made these changes.
5) This is vague. Notice no mention of any substantive GAAP analysis or research. Lack of substantive GAAP experience makes it hard to progress to a manager in most firms or larger corporations.
6) Honestly, this sounds like puffing to me. As an accountant, I know that most of us don't do advanced modeling (that's a financial analyst or budgeting job), so this isn't that useful of a skill. Yet you had to train other accountants in modeling? For what? If you had duties involving advanced modeling, you should describe that as a major part of your accomplishments. Since you didn't, I assume this is just puffing.
1) Good, it's fairly estimated by the way but since it's how it sounds to the employer that matters, is there a way to make it sound credible?
3) OK, but the errors were an exceptional case.. I read many times that I should mention accomplishments to prove abilities, how can I address this one otherwise?
4) I was one of a two-member commitee for my department. I re-prioritized some procedures to reduce monthly closing deadline as per the group new policy. Also, the new procedures that I set were used later as the basis of SMART KPI's for our department staff.
5) Fine, I work in treasury, my focus is rather on things like cash management, financing, and accounting for cash and interest accounts. We report according to IFRS but it's not a core part of 'our' work to care of it. My IFRS knowledge is mentioned elsewhere in my qualifications.
By the way, I think I didn't quite get it, how would I include GAAP or IFRS in an accomplishment? Would you give me an example?
6) ^, and noted
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Anyways, I am used to a lot of puffing and just read in between the lines. But I have had other colleague be really, really turned off by it
Okay, I don't have to be puffing here, so they are generally true and I explained some of them. Do you suggest that I just ignore them? Or, is their a way to make them sound credible to a potential employer? Would highly appreciate your response on that.
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By the way, I wouldn't quantify the losses that you help recover either. That stuff is usually confidential and certainly not resume material. Knowing that you did it is enough. Otherwise they will wonder if you have loose lips.
Alright, it's a total amount that I mentioned for several incidents anyway (the fraud is one of them). I know confidentiality matters in any work that involves money, but many HR consultants now focus on quantifying accomplishments, and this number means probably nothing other than "somehow big money". How would I quantify this otherwise?
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Also, being a manager in accounting requires a lot of interaction with regulators, auditors, and internal auditors. So you should describe your interactions with them as well.
Good point, I mention that in a brief description of duties. I am the main (and only, actually) contact for the department with the auditors (for the last 3-4 years), but there's probably no way to list that as an accomplishment. The reports that I automated are generally requested by them. I deal with regulators too but not directly, so there's no good way to address that either.
I'd appreciate any help in the rewording as I am not a native English speaker.
Geeze, I wouldn't have expected you to put down interaction with regulators and auditors - is that really an achievement?? My impression was you were only going through the achievement part of your resume - not the whole thing.
By putting 60% of an amount exceeding $xxx it doesn't lack context.
There are many reasons departments can be understaffed, it's not always a slap in the face to an employer. Try two women out on maternity leave at the same time - is that really saying something negative? No.
I can't even go through the rest of the nonsense to dispute what the previous poster has advised. The bottom line is - you NEED to showcase what you did if you're going to land the job that you want. If a hiring manager has a problem with that, it shows he has some issues around it and you wouldn't want to work with him anyway.
Look, consider my advice or not. It maybe nonsense or not. I was a supervisor at a Big 4, then a manager in financial reporting in a CFO's office of a Fortune 500 company, then did a short stint in the IRS's Office of Chief Counsel before going to law school. I was involved in hiring committees at all three locations, but my experience in the last two would be relevant to you.
I noted that a lot of the so-called advice for resumes in general, sort of backfired for accountants. The reason is there are usually defined career paths and positions, and we know what is done and what is expected at each. So the accomplishments that aren't what we normally saw in our experience just seemed unrealistic or puffing.
For example, that 60% figure. Um, what time period? What base year period calculated? Is it representative of your impact? Is it based on budgeted time vs. actual? How can you tell whether your improvements resulted in the change vs. cyclical changes in timing? Is it hours? Is it payroll expenses? How many employees does it involve?
As an accountant, part of my job was to verify claims of third parties and make sure that the data provided was accurate, but also not cherry picked to provide the favorable, albeit misleading, light. So providing quantitative figures in your resumes just invites more concerns then say a job for a sales manager. And yes, I have been in interviews where detailed questions about cited figures were asked and basically determined to be cherry picked or just B.S. which made the candidates look foollish. Wall Street and CEOs brutally does this to CFOs and your CFO will do it to their managers. The reason why there are pages and pages of financial statement footnotes and MD&A to provide context.
Anyways. That's why you should just avoid it. It is just enough to say you because of your changes (be descriptive though) you streamlined your accounting process. That way in the interview they question you and what exactly you did, why you did it, and how it turned out. Vs. them just being very skeptical upfront of your seemingly unverifitable claims. They are not looking for geniuses that will revolutionize the accounting department. They are looking for competent people with the requisite skills that they can count on. If they are already skeptical of you and your claims, you are going to be in trouble. For an accountant, credibility is everything.
There are many reasons departments can be understaffed, it's not always a slap in the face to an employer. Try two women out on maternity leave at the same time - is that really saying something negative? No.
You should always be positive and not make your employer look bad, because they are going to think you will do the same thing to them.
FYI, as a lawyer, I actually have seen performance evaluations where an accountant praised a subordinate for getting a job done despite being understaffed as evidence that the accountant department was not properly run and the reason why a mistatement occurred. Companies and accounting firms get sued all the time for negligence. There is a lot of sensivity on the issue and I am surprised that any accountant would put that in a resume as an accomplishment. To me, it shows poor judgement or unsophistication. Yes, I know in the REAL WORLD, accounting departments are pretty much always short staffed and you just have to roll with it and get done with what you have. No CEO is going to say hey, let's give the CFO another $1M to hire a bunch of people unless there is a major accounting blow up. But like fight club you don't talk about it. Instead you just twist it around about meeting aggressive budgets.
As for GAAP/IFRS and experience with auditors, etc., these are crucial aspects of manager level jobs with major corporations and accounting firms. The GAAP/IFRS stuff isn't that important day to day, but when you have an big blow up, you better be able to grasp the relevant technical standards and research what is applicable. Since a lot of accounting depts. focus so much on accounting operations (i.e. G/L maintenance, cash, payroll, etc.), managers get the brunt of this work when it happens. I saw who got promotions and those that the CFO or Controller didn't think that had the research skills to do even rudimentary GAAP/IFRS analysis and relied too much on the auditors never got promoted very high. That just got labelled as accounting ops. folks.
So if you don't have experience with these issues, you should focus on your CPE, hopefully GAAP/IFRS intensive, and also any research projects you have done over the years. Anything involving regulatory issues would be similar. If you have spare time, you should see if there is any research project that your boss always wanted to do but never had time. Even better, if you have an intern, get them to do the work and just supervise it.
OK, I am done ranting and proscrastinating from my job. Good luck. Sorry for coming off brusque. Tough day for me and you get real jaded after reading hundreds of resumes. I wouldn't stress over figures or HR. Your education, years of experience, title, CPA, and company is more important than trying to come up with seemingly impressive accomplishments. Like I said before, no one expect miracles from junior to mid level accountants.
No HR person is going to reject you because you didn't say I saved this company X amount of dollars. They mostly just want to know what you've been doing. For example, for interacting with auditors, saying your are the point of contact is OK. But it is more impressive to say that you help resolve or explain preliminary audit exceptions or unusual transactions, implement suggested changes in things like internal controls, or work with your employer and the auditors to come up with changes in internal control that are effective yet not too costly. Stuff like that is dynamite in job interviews and give you a chance to shine.
you seem very knowledgeable. I am currently a cost accounting analyst pursuing his CPA who wants to get the hell away from cost accounting as far as possible; I've realized that accounting is not unlike other professions where you will end up specializing and I don't want to get pigeon-holed with cost accounting.
I don't have any plans on going to the Big 4 unless no one will certify me, what do you recommend?
you seem very knowledgeable. I am currently a cost accounting analyst pursuing his CPA who wants to get the hell away from cost accounting as far as possible; I've realized that accounting is not unlike other professions where you will end up specializing and I don't want to get pigeon-holed with cost accounting.
I don't have any plans on going to the Big 4 unless no one will certify me, what do you recommend?
I did an internship as a cost accountant at a Fortune 500 company. Honestly, I didn't think it was that bad of a gig, as you have much more contact and interaction with operations folks. The downside was that you were in some far flung factory and it was hard to move up unless you uprooted your family and moved to HQ or a divisional HQ.
At that corporation, they basically rotated accounting staff to different functions every few years so you got to experience a bunch of different things. I'd say the easiest transition would probably be internal audit, since you deal with a lot of the same people and internal audit deals with operations people too.
I'd get your CPA, but really just try to diversify your skills. Ask for special projects, especially task forces that involves a bunch of different accounting offices, kick butt and volunteer to do a lot of the heavy lifting, etc. Once you do that and impress folks (and don't come off as overbearing or a jerk), they will put you up for job openings. I know the cost accounting folks always argued that they understood the business better than us financial reporting folks and that that insight would provide better financial statements.
That divisional controller I was an intern with would definitely try to give you some non-cost-accounting related work if you asked for it and would help people to transition to HQ work. So you should seek out someone like that and maybe they would have connections to the areas you want to work. The path to divisional controller isn't start at as a cost accountant and then spend 15 years doing that. They usually had a vareity of jobs and know that you will need to do so as well if you have any ambition. If not him or her then some other senior accountant in your group.
One thing to do while you are in cost accounting is try to make some friends in operations and keep in touch (especially those your own age). You never know if that engineer that you worked with becomes a divisional general manager or president. Nice to have a few of those folks in your corner as you progress. If you ever want to make the leap to operations from the finance and accounting functions, you'll need people like that.
You should always be positive and not make your employer look bad, because they are going to think you will do the same thing to them.
FYI, as a lawyer, I actually have seen performance evaluations where an accountant praised a subordinate for getting a job done despite being understaffed as evidence that the accountant department was not properly run and the reason why a mistatement occurred. Companies and accounting firms get sued all the time for negligence. There is a lot of sensivity on the issue and I am surprised that any accountant would put that in a resume as an accomplishment. To me, it shows poor judgement or unsophistication. Yes, I know in the REAL WORLD, accounting departments are pretty much always short staffed and you just have to roll with it and get done with what you have. No CEO is going to say hey, let's give the CFO another $1M to hire a bunch of people unless there is a major accounting blow up. But like fight club you don't talk about it. Instead you just twist it around about meeting aggressive budgets.
You make a great point I hadn't considered. Thanks for the clarification!
You pretty much hit the nail on the head. I work at one of the larger subsidiaries of a Fortune 500 food processing company. You also addressed one of my main concerns with the cost accounting profession. You are essentially limited to working at a manufacturing plant; at the company I work you aren't anything unless you are at the HQ. Your points are very good in regards to operations and branching off.
I've had intense discussions with my good friend I graduated with (who's now working in the rotational accounting/finance program with Disney) and we can't really see ourselves doing accounting forever. As of now, I believe we project a little better in our career tracks in getting up to higher level positions than just regular staff accountants and definitely if we ever branch off into general management.
Unfortunately, though our company is big it does not have a large accounting function (no internal audit, small general accounting group) and it'd be difficult to get non cost accounting work. One of the worries I have is the person I replaced for this position had been turned down several times for Financial Analyst type positions (no experience in forecasting, budgeting; things that are typically required as experience for these positions). He eventually found a Sr. Cost Accounting position which he accepted; I am afraid to end up like him. Although he may very well end up as a cost accounting manager/plant controller, his general accounting knowledge has dwindled and I question his career projection desires to CFO/Controller/VP Finance without a CPA or MBA down the line as well as the typical GAAP/IFRS/SOX knowledge usually needed for those positions.
Slim, I feel that if I get another year of experience I project well as either Financial Analyst II (if I can sell myself well and combine it with the CPA) or Auditor II/or Sr. Accountant (depending on the size of the company)
Our branching off into non-accounting/general management discussion not with standing; assuming that for all intents and purposes my goal is be the CFO of a fortune 500 company, Do you feel between those three options there's a wrong choice?
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Originally Posted by slim04
I did an internship as a cost accountant at a Fortune 500 company. Honestly, I didn't think it was that bad of a gig, as you have much more contact and interaction with operations folks. The downside was that you were in some far flung factory and it was hard to move up unless you uprooted your family and moved to HQ or a divisional HQ.
At that corporation, they basically rotated accounting staff to different functions every few years so you got to experience a bunch of different things. I'd say the easiest transition would probably be internal audit, since you deal with a lot of the same people and internal audit deals with operations people too.
I'd get your CPA, but really just try to diversify your skills. Ask for special projects, especially task forces that involves a bunch of different accounting offices, kick butt and volunteer to do a lot of the heavy lifting, etc. Once you do that and impress folks (and don't come off as overbearing or a jerk), they will put you up for job openings. I know the cost accounting folks always argued that they understood the business better than us financial reporting folks and that that insight would provide better financial statements.
That divisional controller I was an intern with would definitely try to give you some non-cost-accounting related work if you asked for it and would help people to transition to HQ work. So you should seek out someone like that and maybe they would have connections to the areas you want to work. The path to divisional controller isn't start at as a cost accountant and then spend 15 years doing that. They usually had a vareity of jobs and know that you will need to do so as well if you have any ambition. If not him or her then some other senior accountant in your group.
One thing to do while you are in cost accounting is try to make some friends in operations and keep in touch (especially those your own age). You never know if that engineer that you worked with becomes a divisional general manager or president. Nice to have a few of those folks in your corner as you progress. If you ever want to make the leap to operations from the finance and accounting functions, you'll need people like that.
Last edited by cheeseman777; 08-15-2014 at 08:38 PM..
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