GOING BEYOND YOUR AREA for CMA

GOING BEYOND YOUR AREA..!! IS IT WORTH IT..?? CMA

LET’S FIND OUT!

 

Suppose you are working in Accounts dept. of a construction company. The question is knowing only about accounts would suffice or you need to have knowledge of all the other depts. (for example Procurement, Planning etc.)? And if latter is the case then the second question would arise that is it really possible to have knowledge of all the other depts. along with Accounts?!

 

So now we have two important questions, let’s discuss about the first one.

Trust me if you want to grow ahead or you want have a very good grip on your work then it is damn important to have knowledge of most of the other depts. in a company. Talking about Finance/Accounts. , it is always related with most of the other important depts. of a company, so knowledge of other depts. is very important. This thing is applicable to every type of company.

 

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Let me give you a reference. In CMA Inter, we study Operations Management and most of the students question about its relevance or importance related to Finance/Accounts. Some feel that it is not related to their domain so it is only an unnecessary addition in the syllabus but here I want to refer a paragraph of CMA Study Material Paper 9 OMIS (SYLLABUS 2012) :-

 

Why Study Operations Management?

If your major field is not operations management, you may be wondering why you need to study operations management. Actually, there are compelling reasons for studying operations management. One is that 50 percent or more of all jobs are in operations management or related fields. Also, recall the image of a business organization as a car, with operations as its engine. In order for that car to function properly, all of the parts must work together. So too, all of the parts of a business organization must work together in order for the organization to function successfully. Working together successfully means that all members of the organization understand not only their own role, they also understand the roles of others. This is precisely why all business students, regardless of their particular major, are required to take a common core of courses that will enable them to learn about all aspects of business. Because operations management is central to the functioning of all business organizations, it is included in the core of courses business students are required to take. And even though individual courses have a narrow focus (e.g., accounting, marketing), in practice, there is significant interacting and collaboration among the various functional areas, involving exchange of information and cooperative decision making. For example, although the three primary functions in business organizations, perform different activities, many of their decisions impact the other areas of the organization.

 

 

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These above lines are in line with reality!

Now let’s come to second question. (For questions refer to first paragraph)

Yes the answer is in affirmative, it is indeed possible to have knowledge of most of the other depts. but of course up to a certain extent only!

The ways of doing this are very simple. Some of the ways are,

1. Be open minded.
2. Interact with people of different depts. during work or during leisure time.
3. Show interest in the work of other people.
4. Always ask questions!

 

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The results of these things will not come instantly but after a certain point of time you will feel the difference!

The funda is simple if you want to be the CEO/CFO of a company then you have to be dynamic!

Even if you are going to leave the company (you are currently working in) after (say) 5 years then also it is important because these things enhances your performance & make you even more competitive!

By Gaurav Ganguly.