Managing a team of accountants is like being in charge of any other group of employees, which means chief financial officers need to be sure to keep them apprised of what is going on within the company.
"Employees want to be kept in the loop and feel appreciated," said Max Messmer, chairman of Accountemps*, a service for staffing temporary accounting positions. "An organization can only be successful if its employees have the information and support they need to do their jobs well and a forum for two-way communication."
Accountemps recently provided a list of conversations accounting managers should have with their employees to ensure they are happy in the workplace
Telling employees what is going on in the company is something managers should be sure to on a regular basis. It is important to discuss the company's financial performance, department initiatives or group projects to ensure everybody feels like they are in the know.
Making sure employees have the necessary materials to succeed is another suggestion for CFOs. Being sure that all employees are fully accommodated can allow managers to expect the most from their staff.
Thanking employees is a must in every workplace. Employees want to feel appreciated within a business. CFOs can thank their accountants through group emails, during staff meetings or on conference calls.
Asking a team of accountants for potential improvements to the workplace is another smart practice for CFOs. Professionals that were able to receive a degree in accounting
are knowledgeable in the industry, and they will be able to provide some ways to improve business function.
Managers can also help their accountants by teaching them the COVEROD acronym when going over individual audit procedures, according to an AccountingWeb blog post**.
The acronym stands for completeness, occurrence and cutoff, valuation and accuracy, existence, rights, obligations and disclosure and presentation, which are all things to remember for accountants who are evaluating financial statement assertions.