Not surprisingly, a big part of working in finance is about being efficient and accurate. To paraphrase comedian Bob Newhart, “getting within a few bucks of it” isn’t usually good enough. Hence all the late nights if you work in the department.
But it’s also about being effective and adding to business results. And that means helping to grow revenue and increase margins, not just getting the numbers out each quarter.
An article from The Boston Consulting Group describes best-in-class CFOs and finance departments as value-creators. Besides being very efficient number-crunchers, they also produce business intelligence, analyses, and forecasts to highlight opportunities that move the company forward. The goal is to be efficient and effective – both at the same time.
And if you like laughing about finance as much as Bob Newhart (who was originally an accountant), here’s a list of 25 accounting jokes from Business Insider including the one we stole for the title of this post – It’s Accrual World.