INTRODUCTION

Today, the ability of management accountants to communicate effectively is being tested as never before. From entry level accountants to senior financial executives, management accountants must be able to communicate not only with their peers but also with managers and employees across the corporation, as well as with investors, shareholders, regulators, the media and others about complex audit, tax, business, financial, regulatory, strategic and other issues. Communicating effectively is one of the most important—and challenging—issues that management accountants face.

Study after study has confirmed that business communication skills are essential, regardless of accounting specialty. The Vision Project of the AICPA groups communication and leadership skills together as one of the five core competencies of accountants. The project defines these skills as ‘Able to give and exchange information within meaningful context and with appropriate delivery and interpersonal skills. Able to influence, inspire and motivate others to achieve results.’¹ That statement mirrors this book’s conviction that communication and leadership skills go hand in hand. Whether you have just entered an accounting programme or are at the pinnacle of your career, improving your communications skills can help you to become a better leader and more valuable employee.

How, then, can management accountants use communication to inform, influence and persuade others? How do they know if they are effective at communicating? This book explores these and other communication issues of vital concern to management accountants. It looks at how management accountants communicate within and outside of their organisations, identifies best practices in the use of communication, and offers guidance about how management accountants can improve their communication skills. In short, this book is intended to help management accountants become better communicators.

The book begins with an examination of the changing role of CFOs over the past two decades. Future CFOs can learn from the challenges facing today’s CFOs and prepare themselves to take on more responsibilities. As the first two chapters explain, excellent communications skills are essential for the next generation of management accountants.

The third chapter delves into what good communication skills are and how they apply to a business setting. Listening, speaking and writing skills are the three core communication skills, along with an awareness of nonverbal communication. Some cross-cultural communication considerations are also discussed.

Chapter 4 applies the information about communication presented in the previous chapter to specific business scenarios, such as hosting meetings or writing e-mails. Chapters 5 and 6 focus specifically on writing business reports, while chapters 7 and 8 focus exclusively on presentations. Throughout the text, the importance of good listening, speaking and writing skills is emphasised.

Finally, the last chapter explores a new frontier in business communication: social media. Social media platforms, such as LinkedIn and Facebook, are still fairly new, but their benefits for communicating with clients, customers and investors are enormous. The benefits and risks of social media are discussed, along with some considerations of specific social media platforms.

If you want more information on any specific area, the bibliography compiles the sources cited in footnote references with other relevant articles and books organised by topic. Also, throughout the book, references are made to interviews that can be found compiled in appendix A. These interviews give first-hand accounts of the importance of communication to people at various stages of their accounting careers. From accounting professors to analysts to CFOs and vice presidents, each interviewee offers insights on the role of communication in his or her career. The appendixes also provide other helpful material, such as a resource list and checklists to help you write documents and compose presentations.

Endnotes

1 ‘CPA Vision Project: The Vision in the CPA Vision Process,’ AICPA www.aicpa.org/about/missionandhistory/CPAvisionproject/Pages/CPAVisionProject.aspx