How a project accountant and a CFO are a match made in heaven


How a project accountant and a CFO are a match made in heaven

It’s difficult to say whether an algorithm can accurately predict the suitability of two romantic partners, but that’s exactly what many dating sites around the world attempt to do.

Applicants fill out pertinent information that include “markers” which provide indicators for match suitability. Some of your markers might be that you love the outdoors, enjoy literature, like running and live in Johannesburg. A potential match would be assessed for the number of markers they have in common with you. The more markers a person shares with the ones you are seeking, the more happy the match is anticipated to be. Theoretically, if a person’s markers met all the criteria you were seeking, it would be a “match made in heaven”.

If the same theory were to be applied in the business world, the project accountant and the chief financial officer would surely be a highly compatible match. If your chief financial officer is looking for a suitable “mate” — someone who can meet all of her needs or delight her senses — then hiring a project accountant would be a move orchestrated by Cupid himself!

Here are some of the “markers” of a CFO that would be met by a project accountant:

1. Helps the CFO plan finances. The CFO has overall jurisdiction for the planning of finances, but she needs help ensuring projects stay on target. Not having her nose in the details, it’s difficult to accurately anticipate what is needed for a single project. The project accountant, on the other hand, is in the coal face: he knows the intimacies of the project and exactly what needs to be allocated where. The project accountant can ensure that accurate cost forecasts are put in place.

2. If one of the main markers of a chief financial officer is to stay on budget, the project accountant will perfectly complement this need! Not only is the project account responsible for staying within budget, he’ll put systems in place to track expenses as they go. The result? No nasty surprises at the end of the project or financial year when things didn’t quite go “according to plan”.

3. Communicate, communicate, communicate! They say that all successful relationships have a foundation of healthy, open communication — and that is exactly the mandate of the project accountant in his role with the CFO. The chief financial officer expects information to reach her in a timely, sustained manner — and the project accountant is there to do just that. Together they use the latest data and information to shape decisions going forward.

4. If your CFO is a “lonely heart” battling to keep the wheels turning or just needs the assistance of someone compatible with him or her, contact The Finance Team. Choose a finance executive who specializes as a project accountant and makes a good personal team with your CFO. Even though you might not see yourself as a match-maker, this is one of Cupid’s jobs that you just may want to take on.

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