Download your copy today and keep it nearby as you go through this busy season.

Need relief from tax season or just want to get out of the house? Then this social is for you. Don’t miss out on this great networking opportunity.

Date: Wednesday, March 21

Register online.

I have been working on a presentation about Finance shared services for the upcoming AICPA Controllers Conference in May, and  thought it would be a good subject to share with you.

Outsourcing has long been a part of corporate operations, and during the recent downturn, accounting and finance shared service centers have become popular. Companies such as Agilent Technologies, InterContinental Hotels Group, Federal Express and the New York Times implemented shared services years ago. Additionally, over the past three years, my company has implemented shared service centers for accounts payable, cash, payroll and general ledger accounting.

Our company moved to a shared service environment for the same reasons as other companies: to reduce cost and increase process/procedure efficiencies. These efficiencies generally result from specialization and the standardization of certain tasks that can otherwise be redundant when they are carried out in multiple locations. Elimination of these redundant processes is generally accomplished by centralization, which is what happened in our situation.

High-performance businesses usually think of finance executives as drivers of value. Financial thinking, value-oriented data and financial analytics create a culture in which strategic decisions depend upon metrics and financial analysis. The finance role is generally thought of as a strategic resource that enables organizations to strategize effectively to meet short- and long-term goals.

The creation of a shared services center in an accounting environment impacts the whole company. It usually involves a large-scale cultural and process transformation. For example, when a company uses a shared services facility to reduce costs and become more efficient, the company might fall short of its goals. For example, the new process can depict a hands-off, transactional approach that is perceived as disrupting the organization.

When moved to a central location, workflow significantly changes and sometimes causes re-work or duplication of work. Centralization also increases the number of times each task is worked on (which opposes one of centralization’s primary goals). For example, centralization can increase the delivery time of the services, complicate work processes and create a situation in which the people processing transactions are not as attached to the results than if they were more closely aligned with the operational departments.

In our company, we have achieved the short-term goal of reducing costs; however, the jury is still out in terms of the shared service center’s overall effectiveness. A few lingering issues include:

• Do we have the right personnel with the right skill sets in the right positions?
• Do we have the proper internal controls in place for this new structure?
• Does the new structure provide good growth opportunities to attract and retain top-level finance professionals?
• Does current finance staffing complement or help the company’s other operational departments?
• Do we have the right personnel with the proper skill sets to handle tasks remaining in non-centralized locations?
• Are finance professionals spending time in a strategic role or simply acting as a liaison between the centralized location and local staffing?

As we work through these issues that are further complicated by significant changes to our industry and in the midst of tough economic conditions, it is kind of difficult to isolate what is working and what needs revamping.  Many of us are anxious to find out what the fully developed shared services process will look like going forward. I am also curious about how others who may be going through this transition are dealing with the changes. I would love to hear from you.

Review financial data from real organizations and practice calculating ratios, developing relationships and understanding how the pieces all come together to tell the story of a business.

Note that this is our chapter’s scholarship fund-raising event.

Date: Friday, Jan. 13
Register online.

Realizing our dreams is about having persistence, determination, education, getting and accepting good advice, mentoring (both receiving and giving), taking advantage of opportunities, and maintaining focus, dedication and active involvement. Having survived the holiday season, many people find that January is a good time to focus a little more on the things that we are thankful for. In that spirit, I would like to share some of the things about CalCPA that I am thankful for. Maybe you can share them with other CPA professionals wondering what being a member can do for them.

• Friendships—Being a CalCPA member has enabled me to meet and befriend some dynamic people and foster wonderful relationships. Friendships start with building strong relationships and getting to know people. By getting involved, it is impossible not to bond and develop long-lasting relationships with this group of professionals, including chapter members, Leadership Institute classmates, CalCPA Council and Board members, event speakers and local meeting attendees.
• Networking—Unlimited opportunities to network with other business professionals: CPAs in public accounting and those in business and industry, educators, attorneys and bankers. Also, there are numerous volunteer opportunities and CalCPA provides teaching materials for Financial Literacy training and other accounting and tax-related topics.
• Education—Discounted CPE training and maintaining top-level awareness of rules and regulatory issues impacting the profession. The Education Foundation, CalCPA Leadership Institute and Emerging Leaders Certificate Program are just a few of the top-notch learning opportunities CalCPA provides.
• Escape/Expand Professional Bandwidth—CalCPA provides opportunities to focus on issues outside of my primary job, gain from the opinions of others not directly associated with my organization, seek guidance and objective opinions regarding work-related issues, and engage with young and emerging professionals. All of this further broadens my understanding of new issues, technology and social mediums used for communicating.
• Professionalism—The efficiency and effectiveness with which our organization is run can compete with any top-notch company or organization. Council meetings are exceptional and provide ample opportunity to address industry, business and local chapter-related issues. Monthly local meetings offer excellent opportunities for learning about issues directly related to members as well as gaining valuable insight regarding others area of finance, accounting or tax.

These are just a few of the reasons that I value my membership. If you want to get more actively involved, CPA Day at the Capitol in Sacramento is an excellent opportunity. Several of us will be traveling to Sacramento Jan. 18 to meet with our legislators to specifically address issues impacting our profession. We will network with CPA professionals from across the state, with all of us having one common goal: make our voices heard. This day of activities provides an excellent learning opportunity for you, accounting/finance students or any young and emerging professional you would like to sponsor. For more information, please contact chapter program associate Monica Thompson.

As always, I would love your feedback or comments on this message or any topic involving our organization.

Help legislators understand the issues facing California CPAs and sign up to attend CPA Day at the Capitol. How can your presence help? Take a look at our successful 2011 advocacy efforts for an idea and read the experience of past participants.

Don’t underestimate the importance of your presence!

Review the qualifications and download nomination forms online. The nomination deadline for all awards is March 30.

Date: Monday, Jan. 16
Register online.
Info. and a copy of the book: Grace Clark