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You're aiming to excel as an accounting leader. How can you effectively set and achieve your goals?

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As an aspiring leader in the field of accounting, setting and achieving goals is paramount to your success. This journey requires a strategic approach, blending technical expertise with leadership skills. Whether you're managing a team, navigating complex financial regulations, or driving process improvements, your ability to set clear objectives and follow through on them will set you apart. By honing your goal-setting strategies, you can transform both your career and the organization you lead, ensuring that every ledger not only balances but propels you forward in your leadership aspirations.

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Kelly Connolly-Lekic

Principal at PAX Consulting LLC, A Certified Women's Business Enterprise…
Stephen Mburu CPA-K

CFO |Corporate Finance Expert |Risk Management |Financial Reporting |Operations Management|Finance Controller|Budgeting…
Evandro Nascimento

1 Assess Needs

To excel as an accounting leader, begin by conducting a thorough needs assessment of your department. This involves understanding the current financial processes, identifying areas for improvement, and recognizing the skills and capabilities of your team. By evaluating the status quo, you can pinpoint specific goals that align with both organizational objectives and your personal growth as a leader. This step is crucial as it lays the foundation for actionable and impactful goal-setting that addresses real challenges and leverages opportunities within the accounting sphere.

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Stephen Mburu CPA-K

CFO |Corporate Finance Expert |Risk Management |Financial Reporting |Operations Management|Finance Controller|Budgeting & Forecasting Expert|Cost Optimization|Tax Management|Strategic Finance Leader.
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In my experience to become an effective leader, you must create an environment where employees feel listened to and their contributions valued. This inspires them to deliver more. One approach that has worked for me is helping employees map out their career growth and showing them how they can progress through their current role to achieve their desired career goals. As a leader the focus should be bringing out the best in the team you are leading. This means being ready to mentor and coach your employees to reach the level you aspire for them. Being empathetic and practicing active listening are invaluable skills that help in navigate the complexities of leadership.

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Evandro Nascimento
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Antes de definir objetivos, é crucial entender como a contabilidade de custos se relaciona com a estratégia da empresa. Esta disciplina fornece informa??es sobre os custos de produ??o, permitindo que as empresas analisem sua eficiência operacional e adotem decis?es informadas sobre precifica??o e redu??o de custos.

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Christopher Nelson

Vice President, Talent with SolomonEdwards
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As a leader of any function, the first thing that needs to be achieved is an environment of safety. All members of the team need to feel comfortable giving open and honest feedback to each other, as well as upwards to the leader. If the leader actions on the feedback they are receiving from the team, trust begins to build. Once that safety and trust has been established the real work can begin. Mapping processes, identifying bottlenecks, empowering the team to address issues on their own, encouraging them to escallate roadblocks quickly, and eliminating non-value add work are some of the first tasks a leader should consider. These are critical steps for any functional team, not only accounting.

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William Caro Bautista

Consultor Emprendimiento y Empresarial | Direccionamiento y Planeación Estratégica | Estructuración Organizacional | Administración y Gestión Productiva | Gestión de Costos y Presupuestos | Planes de Negocio |
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Hoy en un mundo globalizado, cambiante, dinámico y convulsionado exige que los profesionales actúen, propongan, sirvan y generan resultados efectivos, para lo cual es indispensable mejorar, fortalecer, crear y pulir la integralidad de varios factores referentes a su cualificación, competencias y habilidades blandas aplicadas en contextos alineados con los grandes escenarios de entorno y el mercado. Para lograr desarrollarlos deberá plantear, estructurar, definir y elaborar una planeación estratégica que lo oriente, guie y forme con flexibilidad para ir ajustándose a las tendencias de su camino profesional.

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2 Set SMART Goals

Once you've assessed the needs, it's time to set SMART goals—Specific, Measurable, Achievable, Relevant, and Time-bound. For example, you might aim to reduce closing times for monthly financial statements from ten days to five by the end of the quarter. By applying the SMART criteria, you ensure that your goals are clear and quantifiable, making it easier to track progress and maintain focus. Remember, each goal should push you slightly beyond your comfort zone while still remaining within reach to encourage continuous growth and development.

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Evandro Nascimento
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Quando você define objetivos, empregue o método SMART: Específico: Seus objetivos devem ser claros e bem definidos. Em vez de "melhorar a eficiência", opte por "reduzir os custos operacionais em 10% nos próximos seis meses". Mensurável: é importante que você possa medir seu progresso. Isso pode incluir a utiliza??o de métricas relevantes, como margem de lucro ou tempo de ciclo. Atingível: Certifique-se de que seus objetivos sejam realistas, considerando os recursos disponíveis. Relevante: Os objetivos devem estar alinhados com as metas da empresa. Avalie como seus objetivos pessoais de contabilidade de custos podem apoiar a vis?o e as estratégias da organiza??o.

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Samantha Frazier, CPA

From Overwhelmed with accounting to being able to focus on your success | Entrepreneur, Fractional CFO, Tax Advisor, Tax Planner, Accountant, Tax Preparer | Wife, Mother, Runner, Bicyclist
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I have found SMART goal setting to be very effective. You can explain it easily, and create it with your team. Asking your team to help, creates a shared experience everyone is working towards. The buy-in makes a huge difference in accomplishing the goals with a willing team.

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3 Develop a Plan

With your SMART goals in place, develop a comprehensive plan to achieve them. This should include detailed steps, resources required, and potential obstacles. For instance, if your goal is to implement a new accounting software system, your plan might involve training sessions for your team, a phased rollout schedule, and contingency measures for any technical issues that arise. A well-thought-out plan acts as a roadmap, guiding you and your team towards the successful accomplishment of each goal.

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Michael Murray

General Manager at Greif, Inc.
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Planning… failing to plan, your plan to fail… this step is often seen as “we’ll figure it out as we go” success is not accidental. It is small steps that are positive and successful. This is where overall success happens. Word to the wise, take time to plan. Successful people plan their success. Dumb luck stories are just that.. dumb luck. Control your steps and control your future

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Evandro Nascimento
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Após definir seus objetivos, crie um plano de a??o detalhado. Esboce as etapas necessárias para atingir cada objetivo, incluindo prazos e responsabilidades. Isso pode incluir a implementa??o de novas ferramentas de software, treinamento da equipe ou revis?es de processos existentes.

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4 Execute Effectively

Effective execution of your plan is critical. This means managing your time wisely, delegating tasks appropriately, and maintaining open communication with your team. For example, if one of your goals is to improve the accuracy of financial forecasts, you might schedule regular review meetings and provide feedback loops for continuous improvement. By staying actively involved and adapting as necessary, you can ensure that your plan is carried out efficiently and that your goals are met with precision.

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Evandro Nascimento
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Definir e alcan?ar objetivos eficazmente na contabilidade de custos requer um plano bem estruturado, envolvimento da equipe e uma abordagem voltada para resultados. Ao aplicar essas estratégias, você n?o apenas se destacará como líder contábil, mas também contribuirá significativamente para o sucesso da sua equipe e da organiza??o. Em um campo dinamico como a contabilidade, habilidade em definir e atingir metas pode ser o diferencial que impulsiona sua carreira para novos patamares.

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5 Monitor Progress

Monitoring progress is essential to keep your goals on track. Establish regular check-ins to review milestones and make adjustments where needed. If you're working towards streamlining the audit process, regular updates will help you gauge the effectiveness of new strategies and identify any areas that require additional attention. Monitoring allows for timely interventions and reinforces accountability, both of which are key to achieving your goals as an accounting leader.

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Michael Murray

General Manager at Greif, Inc.
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Monitoring progress is crucial in any process. Monitoring with accurate information and numbers will provide thresholds to determine if the process or goal is on track. It is a little too late to let time expire and look back and make adjustments. Monitor results early and often.

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Evandro Nascimento
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Estabele?a uma rotina para revisar o progresso em rela??o aos seus objetivos. Use relatórios e análises de custos para medir o desempenho e fa?a ajustes conforme necessário. Ferramentas de visualiza??o de dados podem ser especialmente úteis para apresentar informa??es complexas de forma clara.

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6 Reflect & Adapt

Finally, take time to reflect on your achievements and the challenges you've faced. Reflection enables you to learn from your experiences and adapt your approach for future goals. If you've successfully enhanced the financial reporting system, consider what worked well and what could be improved. This reflective practice not only celebrates successes but also fosters a culture of continuous learning and adaptation, which is vital for long-term leadership growth in accounting.

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Kelly Connolly-Lekic

Principal at PAX Consulting LLC, A Certified Women's Business Enterprise (WBENC)
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To achieve any goal, you must look at your past processes and outcomes. Mistakes are inevitable. Regardless of how good you are, how refined your skillset, there will be mistakes or errors. Being able to look back on it constructively, and use them as lessons and then build on them, is the best way to reach any goal. Even if the growth is incremental, it's still growth.

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Michael Murray

General Manager at Greif, Inc.
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Any true success is from making adjustments along the way. Anytime something is being designed or a process being built, there needs to be a reflection period. Are the results what were desired? Was the success rate at it above the initial set point? Review and adjust will allow people to know if success is around the corner with some minor adjustments or if there is major work to be done to achieve desired results

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You're aiming to excel as an accounting leader. How can you effectively set and achieve your goals?

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2

3

4

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1 Assess Needs

2 Set SMART Goals

3 Develop a Plan

4 Execute Effectively

5 Monitor Progress

6 Reflect & Adapt

Accounting

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