Stabilizing an organization’s financials is crucial in times of financial distress, and company executives are leaning on their financial and accounting teams now more than ever before amid the COVID-19 outbreak.
From ensuring all financials are recorded accurately and ensuring collections are done meticulously to account for all outstanding revenue, to understanding and applying for the various loans available to support businesses, financial professionals are being called on by company executives on now more than ever before. Heavily reliant on cashflow to stay afloat, companies are putting an even bigger magnifying glass on the organization’s financial management to ensure no detail is missed.
It’s important that financial and accounting professionals continue to stay knowledgeable about the many laws and regulations coming out, as well as what other financial teams are doing so they can be the go-to source of information for their company leaders. Here are a few:
American Institute of Certified Public Accountants (AICPA): The AICPA is the national organization for Certified Public Accountants, which is broken out further by state-specific chapters. They’ve made their virtual learning opportunities, specific to how to respond to COVID-19, complimentary with topics ranging from financial planning guidance to Q&As with global financial leaders. Click here to access.
Financial Accounting Standards Board (FASB): The FASB is a non-profit organization that provides financial accounting and reporting standards for public and private companies that adhere to the Generally Accepted Accounting Principles (GAAP). For free access to their educational webinars, click here.
LinkedIn Learning: There is no shortage of excel training financial professionals can revisit regardless of career level or years of experience. LinkedIn Learning offers free online trainings in a range in topics, including Excel. Click here to access.
Toastmasters: Financial professionals oftentimes are introverted and typically don’t raise their hand to speak in front of a large audience, in person or virtually. However, in a time of financial distress and being called on by a range of executives to deliver critical information, it’s important to fine tune communication skills, and Toastmasters is a great resource to do so. This global organization teaches public speaking and leadership skills through its various city chapters, hosting meetups to practice public speaking. Since COVID-19, the organization has been hosting virtual sessions and you can find one to join here.
EY: With a schedule of upcoming webinars and those available on-demand, recorded from recent days and weeks since the COVID-19 outbreak, EY has a library of webinars ranging in topics that are pertinent to financial leaders, from tax policies in response to COVID-19 to navigating M&A in a crisis to planning for the next COVID-19 outbreak. Access the webcasts here.
Data analytics: Crisis or not, having data analytics savvy is imperative for any financial professional in order to successfully collect, sort and analyze financial data and reports. eduCBA has free material that not only trains on data analytics but features free data analysis tools. Access here.
Problem-solving: Excelling at problem-solving in conjunction with data analytics is what sets apart top financial professionals from the rest. Especially in times of financial distress, problem-solving is a top skill sought after in a financial professional. There are free courses offered through Coursera that you can access here.
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