Public Accounting: Year end Attack Strategy
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PUBLIC ACCOUNTING Year-end Attack Strategy
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This is a light-hearted powerpoint to educate new associates on year-end planning. The concentration is federal advisory, but the concepts could be applied to any deliverable-dense environment. A math problem is read aloud before being showed and the audience is asked to solve it in their head. The problem is then shown visually and the example is revisited throughout the presentation to underline that strategic planning is the only way to survive. ----About author, I love to make power poitns. Please contact me with any topic needs!
Transcript of Public Accounting: Year end Attack Strategy
PUBLIC ACCOUNTING
Year-end Attack Strategy
Year-end Attack Strategy
The purpose of this slideshow is to outline important techniques and approaches for a successful, mostly smooth, and satisfying year-end experience.
Relevance of topic
New associates, new opportunities Year-end is every year
Client’s requirements or your role may change—be adaptable!
Planning and practice techniques apply everywhere in life
Stress is hard on your body, wallet, AND friends and family
We did it! So can you!
MATH PROBLEM
Please listen carefully and solve the following problem in your head.
1+2+3 +21-7+72 +(4x4)6
AB
CD
EF
G
x12 x1/4
10
HIJ
KL
MN
OP
QR
ST
UV
-3-2-1WXYZ
)
)
Know your opponent Identify what the client is asking from you—i.e. the
role the team plays in year-end closing and reporting Become aware of what the government and other
bodies require of your client Find out when deliverables are due, both internal and
external dates Note areas of comfort or experience, as well as
brand-new-to-you tasks Locate prior year copies where applicable Study closing schedule and understand order of
items—why is it important to finish A before B? or D after C?
1+2+3 +21-7+72 +(4x4)6
AB
CD
EF
G
x12 x1/4
10
HIJ
KL
MN
OP
QR
ST
UV
-3-2-1WXYZ
)
)
1+2+3+21-7+72 +(4x4)
6
ABCDEFG
x12 x1/4
10
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
Acknowledge and remove items peripheral to task
)
)
1+2+3+21-7+72 +(4x4)
6
ABCDEFG
x12 x1/4
10
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
Note types and order of tasks, as well as complexity
Subtract last!
)
) Easy, can be done before
Pay attention to
steps!
..what’s a fraction again?
Train to win
Now that tasks are outlined and on a calendar, revisit your analysis of what you need to learn and what you can already do confidently Determine what an item or task really is
○ Do you need to make a spreadsheet from scratch?○ Is it turning over a PDF from July?○ Feel comfortable with what each item requires of you
Learn how to do any special queries or formatting when you’re not in a time crunch—saves profanities and time
Figure out as much as you can by recreating prior year deliverables or numbers—it’s good to know how to check numbers you get later, too
Tag which items you will be able to do in advance○ Look deeper, this may mean setting up print formats or requesting
information from an outside source○ Anything pre-done allows for more time for difficulties or problems (there
WILL be some, whether they’re your fault, the computer’s fault, or somebody else’s fault)
1+2+3+21-7+72 +(4x4)
6
ABCDEFG
x12 x1/4
10
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
Do simple preparatory work as soon as possible
+16
-6
03x3)
)
ATTACK ATTACK ATTACK
Stay organized Keep track of what’s done, what’s left Know where everything is and which copy is final Stay on top of your deadlines and manage your time Every Monday, review your upcoming week and plan your team’s time and
attention Every morning, review your deliverables list to see what is due today and
tomorrow, and what was due yesterday REVIEW REVIEW REVIEW
Keep track of critical changes and updates and make sure they flow from drafts to the FINAL final
Look out for common mistakes like alignment, consistent number formatting (1,000s vs. 10,000s)
Check attached submissions for completeness Make distinctions between what is a change for this year and what is a
change for next fiscal year ( a list for next FY makes next FY your favorite )
1+2+3
+21
-7 +72+(4x4)
6
ABCDEFG
x12 x1/4
10
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
Organize completed tasks and assess work space again.
+16
-6
3x3
)
)
1+2+3
+21
-7 +72+(4x4)
6
ABCDEFG
x12 x1/4
10
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
Do your thing ;)
+16
-6
3x3
)
)20
1+2+3
+21
-7 +72+(4x4)
ABCDEFG
x12 x1/4
10
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
Keep doing it
+16
-6
3x3
60
1+2+3
+21
-7 +72+(4x4)
ABCDEFG
x12 x1/4
HIJKLMNOPQRSTUV
-3-2-1
WXYZ
…until it’s done
+16
-6
3x3
6 =0
Tie your results and review for reasonableness
..what’d you guys get?
REVIEW REVIEW REVIEW
I already said this. But it is no joke! B makes Million a Billion. One letter can matter! Proofread spelling, format, and for sense!
GOOO SLOOOOWWWWW
Rushing will never ever ever ever make year-end fun or better.
Call for help
If you’ve consulted the prior year workpapers and you still can’t make sense of it, ask someone to look at it with you. Or ask your manager or old boss for help. You may even ask the client if all else fails. People like you. They’ll want to help.
HAAAAAVEEE FUNNNN
Being positive and in good spirits makes it easier to maintain a can-do, will-do attitude. Plus, might as well embrace it. 6 weeks is 6 weeks is 6 weeks. Sometimes 8.
In conclusion..
Year-end, or any deliverable-dense high-stress time of year, is a manageable event and opportunity
Preparation is your best friendKnow, really know, what you need to doPractice and prepare whatever you can in
advance Think
