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American Academy of Financial Management ™ Boards of Standards

The American Academy of Financial Management™ Journal

Volume 7- Spring 2009

International Assigned ISBN(0-9749946-0-X)

Featured Articles

     
 
In the News
Keep Calm and Carry On 04/15/09
The last month or so was marked by a maelstrom that included a clumsy backing maneuver that put part of my car in a ditch, a frozen hot water pipe, and the emergency purchases of a new natural gas furnace and a new car thermostat. In the midst of all this, I received an e-mail purporting to be from "HM Government."
Network Even When You Have a Job 04/13/09
Networking isn’t just for the unemployed. As more workers look over their shoulders in anticipation of the dreaded tap, they’re increasingly reaching out.
A Twitter Cheat Sheet 04/10/09
As ever more businesses and individual professionals take up microblogging on Twitter, "tweeting" may become an indispensable career tool. A recent post on Susan Weiner's Investment Writing blog offers tips for coming up to speed. While aimed at financial advisors, her advice is useful for other professionals too.
Managing Your References 04/09/09
The care and feeding of references has taken on greater importance in today's market. As reported in The Wall Street Journal, you'll enhance your chances of getting a job if you go the extra mile when you’re preparing them.
Our Take: Job-Search Bubble 04/06/09
Riding the subway home from a job-search networking party at which you met more jobless-services entrepreneurs than job-seekers, you skim a free local newspaper. One page is divided into two distinct advice columns, each about coping with a layoff. The next page reviews a career consultant's latest how-to book about bouncing back from being laid off.
Recruiters Not Responding? Here's Why 04/03/09
A story on our sister site eFinancialCareers that showcased recruiters' complaints about "crazy" candidates struck a nerve among many users there. Several comments draw a link between overeager job-seekers - who recruiters may view as pests - and uncommunicative recruiters whom sincere and well-behaved job-seekers may label rude and unprofessional.
New Grad's Job Strategy Primer 04/01/09
If experienced pros can't find jobs today, what's a new graduate with little or no professional experience supposed to do? College students who adopt the same tactics as their experienced counterparts have better chances of success than you might think.
Your Options In Negotiating Severance 03/30/09
As the number of layoffs has risen, the willingness of companies to negotiate the contents of severance packages has fallen off due to fears of creating inequalities among classes of employees and the necessity to hoard cash.
Don't Be Like These Guys 03/27/09
Successful individuals often urge keeping a positive mind-set, even while between jobs. As a cautionary flag, here are a couple of examples of its opposite. The poisonous attitudes that follow are markers of what not to let yourself do, or even think, in the course of your job search.
Larger-Than-Life Job Search Tactic 03/25/09
Mark Heuer turbo-charged his job search by attracting potential employers to his online resume through an outdoor billboard advertisement. But he says the most important thing job-seekers should do is communicate directly with people.
An Accounting Student Meets the Job Market 03/23/09
Kim Kaemmer thought for sure she wanted to earn her CPA and work in public accounting. But as she readies for her May 2009 graduation from the University of St. Thomas, a regional Catholic school in St. Paul, Minn., she's beginning to have second thoughts.
Our Take: Be Visible, Not Desperate 03/20/09
Was Joshua Persky ahead of his time? Nine months ago, the laid-off investment banker made his pitch to passers-by in midtown Manhattan wearing a poster that read, "Experienced M.I.T. Grad For Hire." His out-of-the-box tactic brought encouraging words, worldwide media attention and many a contact - but few concrete job opportunities, and no offers. Persky found a new job in October, a full four months after his week inside the sandwich board.
Changing Jobs? Leave Bad Habits Behind 03/18/09
People with experience in accounting bring a great amount of knowledge and skills with them when they move to a new job. But they also bring their old habits, including some harmful assumptions about how work should be done.
Your Facebook 'Friend' May Want a Favor 03/16/09
With 175 million members and counting, Facebook is so firmly entrenched in so many lives that the time has come to start asking the tough questions: What’s Facebook really for? And how can Facebook help with your career?
Speak Up and Speak Better: Communication Skills Primer 03/13/09
"Hi. Okay, you guys, hi. How's it goin'? I'm your presenter today, so just, like, open your packets and, like, follow along with the PowerPoint so we can jargon, jargon, jargon, gobbledygook, thirty-six million four hundred twenty-nine thousand eighteen point one percentage points and more, you know, like, jargon. Okay?"
Anger in the Workplace Isn't All Bad 03/11/09
We've all been taught that anger is harmful and dangerous – especially at work. But a long-term study by Harvard researchers of 824 adults points to a different conclusion: expressing anger in a controlled way serves both careers and personal lives far better than keeping frustration bottled up all the time.
No Stimulus For Hotels, Sports Events 03/09/09
Congress last month approved $787 billion in new spending to stimulate the economy and preserve jobs. Somebody tell that to the 13.2 million Americans who work in the leisure and hospitality industry – whose customers are standing aside in droves, partly because of those very same lawmakers' sermons against corporate "excess."
New Grads' Entitlement Colliding With Reality 03/09/09
Bankers aren't the only people whose sense of entitlement is taking a beating lately. College students feel pretty entitled too, if a post in the Daily Beast blog is any indication.
Plug and Play Resume Customization 03/05/09
Customizing your resume to match each job opportunity will result in more interviews and offers. But is the potential return worth the time investment?
Severance and Your Rights 03/02/09
The firestorm surrounding Microsoft's severance package gaffe - first overpaying about 25 laid off workers, and then asking for the money back - brings up a question: Are former workers legally obligated to return money to a company that's let them go?
TU for the Interview? NVR! 02/27/09
Thanks to mobile technology, you can find new job opportunities, network online and research prospective employers on the run. But be warned: When you call a prospective boss or send him a post-interview thank you e-mail, you should sit down and turn off your Blackberry. Formal communications standards and traditional etiquette rules still apply to the job hunting process.
How to Do Unto Others 02/25/09
A recent blog post by corporate consultant Richard Skaare serves up a fresh slant on networking: the best ways to help a friend who is unemployed.
How to Manage an Exit Interview 02/23/09
For whatever the reason - maybe you've been let go, maybe you're leaving for another firm - you're facing a human resource officer on your last day of work.
What NOT to Include in Your Resume 02/18/09
It’s a tough job-hunting environment, so in your zeal to stand out you may have made a mistake on your resume that could sink your chances instead of enhancing them. So, in the interests of helping you stay safe, we present highlights of HR World’s list of 25 things you should never include in your resume.
Economy Pressures Smaller Firms 02/13/09
If the economy continues to crash, accounting firms may find themselves forced to lay off employees to balance the books after the busy season.
Grow Professionally Online 02/09/09
Looking for career guidance or growth? Want to share your wisdom with others? Then consider becoming an online mentor or protégé and let the coaching begin.
Half of CFOs Plan to Retire On Schedule 02/06/09
Economic conditions have led about a quarter of chief financial officers (CFOs) to delay their retirement - bad news for those who were hoping to move up when the boss stopped working.
Good Background, Strong Skills - And No Job? 02/04/09
Despite a perfect resume, flawless references and years of experience, some finance professionals are finding it difficult to land a job suitable to their skills. Even people who've put in time at Big Four accounting firms or well-known investment banks have sometimes gotten less-than-receptive reactions from prospective employers.
Firms Still Hiring, But More Slowly 02/02/09
If there's an unwritten rule not to change public accounting jobs during tax season, plenty of accountants are ignoring it. And despite the emergence of some interesting staffing options, hiring in accounting and finance has slowed.
A Career Change Road Map 01/30/09
Changing careers requires intensive research, self-knowledge, and passionate commitment to a goal. Ultimately, getting hired may rest on devising a marketable idea you can present to an employer in the field you’ve trained your sights on.
Coping With Difficult People At Work 01/28/09
Vicky Oliver's book, Bad Bosses, Crazy Coworkers & Other Office Idiots, comes at the right time. Until a year or so ago, "retention" was a mantra for HR officers. Now the shoe is on the other foot: It's employees who obsess about retaining their own jobs. So a tool kit for coping with difficult workplace personalities falls on fertile soil.
How Managing Up Positions You For Growth 01/26/09
Even if no one reports to you, your job still involves managing people - the ones occupying slots above yours on the organization chart. It's called "managing up," and those who do it well can become indispensable to their organizations, resulting in choice assignments and promotions.
Fraud Threat Creates Opportunities, Too 01/23/09
The financial crisis and recession will stimulate both fraud and employers' efforts to combat it. That spells danger as well as opportunity for financial professionals, says fraud expert Ralph M. Fatigate of BDO Seidman's consulting division.
SEC Could Add Enforcement Jobs 01/21/09
The SEC might add as many as 120 new slots for enforcement lawyers and accountants later this year. That's how many new bodies one securities law expert believes the agency will need to restore its reputation as a market watchdog.
Strategic Career Change 01/19/09
Since Change is the national theme of the week, we thought we'd look at a recent article in Psychology Today that, while it focuses on personality change, can apply to the idea of career change, as well. If nothing else, it's a helpful guide to taking stock of your position and whether it's really the right one for you.
Avoid Getting Axed for Interviewing 01/16/09
Should employees be fired for interviewing with another company?
More Ways to Hurt Yourself with E-Mail 01/14/09
The day before we warned about new ways to injure yourself online - in particular, by losing control of important correspondence - a personal experience hammered home the message.
To Calculate or to Communicate, That Is the Question 01/13/09
Question: To build a successful career in public accounting is it more important to have solid information technology skills or effective communication skills?
Analysts, Accountants Needed At FBI 01/12/09
If you're looking for a way to utilize your analytical skills and the Madoff story makes you hopping mad, the Federal Bureau of Investigation has several openings with your name on them. But you'd best act fast, because most of those career doors are set to shut on Jan. 16.
Our Take: Networking is Hard 01/09/09
Networking your way to a job opportunity takes both ingenuity and a significant time commitment. That's why so many of us get it wrong.
Wield New Tools, But Wear Protective Gloves 01/07/09
Job-seekers are often urged to ramp up their use of online tools like personal Web sites, social networking, live-blogging and mobile Web-based e-mail. Just as with physical tools, however, any relatively new product poses a risk of self-injury.
Finance Smarts Needed at NCIS 01/05/09
You won't get to work with Mark Harmon, star of the television drama NCIS, but if you take a job at the real Naval Criminal Investigative Service, you could find yourself leading the real-world version of his on-screen life.
‘Preparation’ Tops the list of 2009 Resolutions 12/30/08
The events of 2008 remind us that job security can be fleeting. Job market vigilance has become a modern day career survival technique, requiring professionals to keep a constant eye open for that next opportunity and be prepared to launch a job search on a moment’s notice.
Dating for Jobs 12/29/08
Having spent the last six months of my life on a fairly concentrated job search - I'm looking for a position as a financial writer or communications professional - it's become obvious to me there are parallels between finding the perfect job and finding the perfect date or future mate.
CareerWire: Out-of-the-Box Visibility Tactics 12/22/08
Taking a risk can help a candidate to stand out amid the clutter.
Success with Behavioral Interviewing Questions 12/19/08
Interviewing for a job can be nerve racking. Even experienced professionals can have a hard time demonstrating their capabilities and expressing themselves effectively, given the tension of an interview situation. The best way to reduce your anxiety and increase your interviewing proficiency, is to eliminate the element of surprise by anticipating the questions you’ll be asked, and preparing some answers.
Evolving Choices in New York's CPA Market 12/17/08
Employers regard New York and New Jersey as homes to standout, experienced accounting talent. Here are some observations on the dynamics of the market.
CareerWire: Become a Passive Candidate 12/15/08
If it's not obvious you're looking, headhunters will be more inclined to look favorably on you.
Charting a Course to the Controller's Office 12/12/08
So, you want to be a corporate controller. To make yourself a viable candidate, you'll need a CPA, acumen in auditing, finance and operations, and a career focus on a narrow set of industry sectors.
Strategize Your Job Search 12/10/08
There's always room for good, solid people in the workplace. Industries may be different, but there's always a need for good managers. But if you're searching for a job in today's marketplace, you need a plan of attack. The fact is most people are skilled as job holders - but not as job hunters.
CareerWire: Clueless on MySpace 12/08/08
If you don't want your private life to ruin your career, then take steps to keep it private. And stop whining about free speech.
CPAs Move to Consulting from Controller/CFO Spots 12/05/08
New York area CPAs working in distressed industries are gaining valuable experience as they're tested in their roles as CFOs and controllers.
Ex-Bankers Make Good Accounting Candidates 12/03/08
If hordes of unemployed investment bankers and fund managers are contemplating a switch to finance-related jobs, Seiki Murono hasn't seen the evidence. The managing director of Boyden Global Executive Search's San Francisco office says he's received a few extra resumes from ex-bankers - but hardly an onslaught.
CareerWire: Watch Your Back! 12/01/08
An economy in recession encourages the in-house blame game. Take steps to avoid being scapegoated by an ill-motivated colleague or boss.
Selecting Your Ideal Boss 12/01/08
It's often said people don't leave companies - they leave bosses. The expression suggests that bad chemistry with their supervisors can cause employees to quit. But the relationship between you and your boss is more complicated than that, and in truth even a boss you adore may not be a good match for you professionally.
CareerWire: Zig Where the Market Zags 11/24/08
Classic bear-market specialties like litigation support, risk management and crisis management are among areas spawning opportunities for accounting and finance pros lately.
Considering Coaching? Consider This 11/24/08
Many financial professionals view a personal cheerleader as a necessary investment on their way to achieving their goals. But before you embrace the idea that coaching is indispensable to success, think carefully about whether it's the best approach for you. To start, consider whether any of these descriptions apply to you.
Six Ways to Not Get the Job 11/21/08
If you want to know all the stupid things people do when job hunting, ask Ed Navis. He's been reading resumes for two decades as a human resources consultant to mid-size companies and non-profits. Here are the top six mistakes he sees job hunters make.
Valuation Experience Needed in N.Y. Area 11/19/08
Despite concerns over layoffs at Citigroup, Morgan Stanley and other financial institutions, CPAs remain positive about valuation work. With increasing regulatory oversight and forced consolidation in the financial services sector, more accountants are needed to deal with valuation matters.
CareerWire: Mergers Chase Talent 11/17/08
At least one firm says the need for talent drove its recent merger.
Correcting Your Credit Report Before Your Job Interview 11/17/08
More and more companies are checking the credit and background reports of their employment candidates. Before sending in a resume, smart job-seekers should pull their own documents to make sure their information is correct. Here's how you do it.
Recruiter Sees Drop in CPA Searches 11/14/08
A leading California-based recruiter of CPAs and finance executives says his business has fallen off significantly since the start of the year. Paul Herrerias, who heads the San Francisco office for Stanton Chase, says his volume of search assignments is down to a trickle, and he is having to market himself more vigorously than he has before.
Profiting From Performance Reviews 11/12/08
To many, the annual performance review is about as welcome as a colonoscopy. Could any good ever come from a one-on-one where your boss - no matter how much he might respect your work - is required to detail your strengths and (mostly) weaknesses? Surprising as it may seem, experts answer in the affirmative.
CareerWire: Pitfalls of Counter-Offers 11/10/08
Leveraging an outside job offer into a raise from your current employer is a risky strategy that requires careful thought.
Interviewing in Cyberspace 11/07/08
Virtual jobs fairs and interviewing by avatar instead of by phone are moving into the mainstream, and could be standard several years from now. Here are some perspectives and coping tips from people on the front lines of cyber-recruiting today.
Public Accounting Still Favors Job Seekers 11/05/08
While it may appear that all jobs in the financial markets are evaporating or experiencing severe reductions in compensation, public accounting continues to be healthy, with salaries increasing at high levels for experienced tax and audit professionals.
CareerWire: Tax Work, N. Calif. Top Pay Gains 11/03/08
New surveys by Robert Half and Ajilon Finance provide detailed insights into expected movement in accounting and finance salaries for various specialties and metropolitan areas.
Options, Demand in Corporate Accounting 10/31/08
Despite layoffs and a tightening job market in various industries, corporate accounting remains a strong line of work nationwide. Not only is there continued need for corporate accountants in a variety of positions, salaries are holding steady - and even increasing in certain high-demand areas.
Guide to Surviving a Merger 10/29/08
The news hits you like a truck: the corporation or financial institution you work for has agreed to be acquired. Now what to you do?
SALT Skills Needed in N.Y., N.J. 10/24/08
Given the ever-increasing complexity of the region's state and local corporate tax laws, New York and New Jersey CPAs with SALT experience are in increasing demand. The jobs offer strong pay and job security, but require some grueling hours and tons of reading.
Mass Customization and Your Job Search 10/22/08
By utilizing a direct marketing technique called "mass customization," a job seeker can send out volumes of documents to prospective employers without having to hand-tailor each one individually.
Building Your Internal Network 10/17/08
Building a network within your company can be as important to your success as developing contacts outside. But watch out: The wrong moves can sink you. Here’s how to avoid some of the most common pitfalls.
Q&A: Greg Burke, Chair, CalCPA 10/15/08
California Society of CPAs Chair Greg Burke has an ambitious agenda. At the top of his list, Burke, wants to overhaul educational requirements that are beginning to restrict California CPAs from practicing out of state and can limit career opportunities. He also wants to recruit more veteran accountants to academia, and revamp committees to address industry trends more quickly.
CareerWire: Get Ready for Crazy Hat Day 10/13/08
Corporate HR staffs trawl for retention tools that don't cost much.
Craft Cover Letters, Resumes that Earn You a Second Look 10/10/08
If you plan to make a job move soon distinguish yourself from the thundering herd of job-seekers that's building in the market. You'll need a dazzling