In this interview recorded before COVID-19 had fully taken hold, Heather Baxter, ACMA, CGMA, administrative director at the Royal Ballet in London, describes the company’s funding model and complex multi-season budgeting process. She also gives advice for management accountants on developing careers in the arts that are interesting if sometimes nonlinear. What you’ll learn from this episode: - About the Royal Ballet’s changing funding model. - How its multi-season budgeting process works. - The impact of Brexit on the company. - When a sideways move can advance your career for the long term. - How management accountants can develop careers in the arts.

Financial Management (FM) magazine

Leading on finance at the Royal Ballet

The remote work revolution has been accelerated dramatically as a result of the coronavirus pandemic. How our work environments look in the next year remains unsettled, but some changes are already evident. Career expert and author Rhymer Rigby, a regular contributor to FM, offers advice for workers who no longer commute to an office, wonders why video meetings now seem to be a communication default, and shares some key elements of employability for today’s professional.

13 answers to questions about work amidst the pandemic

Andrew Harding, FCMA, CGMA, chief executive–Management Accounting at the Association of International Certified Professional Accountants, reacts to the UK Chancellor of the Exchequer’s Summer Economic Update and describes UK advocacy efforts on behalf of Association members. What you’ll learn from this episode: - Details of the 20 recovery suggestions that CIMA presented to the UK government. - The suggestions taken up by the Chancellor in his 8 July Summer Economic Update. - Why CIMA is calling for the apprenticeship levy to encompass existing workers’ skills. - The success of the Association’s advocacy efforts during the pandemic. - How management accountants are leading the business recovery.

CIMA engages with UK Chancellor’s crisis recovery work

Loretta Outhwaite, FCMA, CGMA, a director and CFO with a particular interest in wellbeing, shares tactics leaders and managers can use to better support employees in these turbulent times. What you’ll learn from this episode: - The way people cope with uncertainty and stress differs from person to person, but there are ways managers can spot the signs that an employee or colleague may be suffering. - How to build a resilient, high-performing organisational culture where staff feels comfortable sharing concerns. - Critical steps leaders and managers must take to support wellbeing and team members who are finding it hard to cope. - Each furloughed employee returning to work is an opportunity for an organisation to learn, adapt, and prepare for the future.

Leadership tactics to better support employees in turbulent times

Whether you are making a big speech as a CFO or having a one-to-one business conversation, there are simple ways to ensure your message is heard, says speechwriter, author, and TEDx speaker Simon Lancaster. What you’ll learn from this episode: - How you can enhance your communication by “painting pictures”. - Why the use of metaphors is so powerful. - The “rule of three” and why it is effective in speech. - Ways to better engage with a videoconference audience. - How the language of money is changing.

The language of financial leadership

Many organisations have had to rethink their business continuity plans in the wake of the COVID-19 pandemic — if they had a plan to begin with. Cecilia Locati, FCMA, CGMA, the founder of consulting company Internal Control Toolbox, has worked with organisations of many types, and she shares where they fall on the spectrum between “no plan” and “world-class plan”. She describes the key traits of a strong plan, the human obstacles to such plans, and more in this episode. What you’ll learn from this episode: - What a business continuity plan should include. - The obstacles companies face in carrying out a business continuity plan. - The importance of being generic and specific at the same time in putting together a business continuity plan. - How human biases sometimes get in the way of strong planning.

The traits of a strong business continuity plan

CIMA President Amal Ratnayake, FCMA, CGMA, who is also CFO of the Official Community Corporation in Canada, and Sherin Cader, CFO of the financial services industry group and executive vice-president at John Keells Holdings Plc in Sri Lanka, discuss the skills and experience needed to become a trusted and effective CFO. What you’ll learn from this episode: - How the scope of the CFO’s role has expanded. - What CFOs are doing to lead businesses through the coronavirus crisis. - Why CFOs need to communicate regularly with remote teams. - The importance of being an ethical leader to build loyalty and productivity. - The value of gaining experience in multiple businesses.

The traits of an effective CFO

Tim Burghout, ACMA, CGMA, the head of finance and accounting for Metro China, a wholesale cash and carry, tells about how he built a playbook as changes due to the novel coronavirus progressed, why it’s important to take time thinking through decisions, and why we see empty shelves in supermarkets. What you’ll learn from this episode: - Burghout’s road map the past three months. - If he could go back in time, what resource he wishes he had. - Empty supermarket shelves — fact or fiction? - How consumer behaviours have changed and what trends will stay after the coronavirus pandemic.

After initial crisis mode, take time to reflect

Numerous in-person professional events have been shifted to online only, delayed by months, or cancelled in 2020 as a result of the coronavirus pandemic. That doesn’t mean that we can’t strengthen connections with those we know or make new business contacts, according to Todd Cohen, a consultant, speaker, and author. What you’ll learn from this episode: - Tips for how to display presence on a video call. - Why presence “is the most powerful selling tool we have”. - The value of continuing to build connections despite a lack of in-person interaction. - The importance of specific questions in online meetings.

How you show up matters, even on a video call

Ankur Agrawal, McKinsey partner and co-author of “The CFO’s Role in Helping Companies Navigate the Coronavirus Crisis”, offers tips and insights on how CFOs can most successfully steer their organisations through the crisis.

How CFOs can create a COVID-19 crisis war room

When one country after another took measures to slow the spread of the coronavirus, BrewDog faced a 70% drop in revenue because customers could no longer visit its 102 bars worldwide. The Scottish brewer, distiller, and bar operator decided to switch from producing gin, vodka, and rum to making hand sanitiser. Ben Press, ACMA, CGMA, BrewDog’s retail finance manager, explains how the international company managed to change production quickly and how it plans to survive the economic impact of the coronavirus pandemic.

COVID-19: From distilling spirits to making hand sanitiser

CIMA President Amal Ratnayake, FCMA, CGMA, and Alfred Ramosedi, FCMA, CGMA, the CEO of Bayport Financial Services in South Africa, discuss the traits of effective leaders and how they can get “buy-in” from employees to drive change.

What makes an effective leader?

Chris Clearfield, author of Meltdown: Why Our Systems Fail and What We Can Do About It, talks to FM magazine senior editor Drew Adamek about how the coronavirus pandemic is exposing complexity in global supply chains, trade, and economies. Clearfield offers advice on how finance professionals can improve their strategic decision-making in the face of this complexity.

COVID-19, complexity, and strategic decision-making

Byron Patrick, CPA/CITP, CGMA, knows what he is talking about when it comes to technology — he co-authored FM’s popular 2019 article "100 Quick Technology Tips", which included ways to save time when using email. In this podcast episode, he shares more advice on how to use email effectively: what to do, what not to do, and why you should think twice before sending email.

Email tips you don’t want to miss

Since the start of the coronavirus outbreak, companies in Asia have been dealing with supply chain disruptions and have implemented large-scale work-from-home policies to keep the business going. What can companies in other parts of the world learn from their experience? Guru Balasubramaniam, ACMA, CGMA, acting managing director of Rentokil Initial Hong Kong, and Arthur Yu, FCMA, CGMA, China CFO of Jaguar Land Rover, share what their teams have been doing to stabilise the business.

Managing coronavirus disruption: Lessons from Asia

The Financial Management (FM) magazine podcast series features conversations with executives and thought leaders in management accounting. We discuss topics including governance, risk management, performance management, technology, corporate strategy, and leadership. Interviews are conducted by FM editors and contributors.

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