Page 7 - The Pakistan Accountant

JOIN THE DISC OURSE Humayun Habib, ACA (R-5111) Munir Muhammad Shafi, ACA (R-7432) Johor Bahru, Malaysia Karachi Recently I read in HBR companies that turn employees' The word Professionalism is a multidimensional struggle into growth opportunities are discovering a terminology. Many precious traits like Knowledge, skills, new kind of competitive advantage. To an extent that we determination, honesty and hard work etc. grace this ourselves are only beginning to appreciate , most people word with its true essence. The display of Professionalism at work , even in high-performing organizations, divert at work eventually leads to the quality generated from considerable energy every day to a second job that no every output produced with the sincere effort of an one has hired them to do; preserving their reputations, individual. In the field of Accounting and Finance, the putting their best selves forward, and hiding their quality is basically linked with transparency in financial inadequacies from others and themselves. We believe reporting, compliance with regulatory requirements, this is the single biggest cause of wasted resources in productive analysis to help decision making that nearly every company today. enhances shareholder’s value and a good display of ethics at work. All these milestones cannot be achieved Shafiq Ahmed, ACA (R-4421) without a real display of ‘Professionalism’ at work. The Muscat role of an accountant has now been evolved far more than a mere number cruncher. A finance professional is Professional competence, integrity and due care are the hall mark of any profession as it is evident from the code of now even expected to diligently assist in key strategic ethics for professional accountants by IFAC. Nevertheless, decision making that enhances Shareholder’s value. quality of work drives from an unrelenting attitude to A good display of dynamic and proactive approach is continued learning and professional development. The required to produce the required quality and embark work of the accountants and its products are a source with professional excellence. of information and decision making to a wide spectrum of users. The best products are normally thought to Fawad Hassan, ACA (R-7108) have derived from compliance with the standard Islamabad minimum requirements and operating procedures, however, continued professional development, use of World is competitive, and it has been this way since technology as well as continuous effort for objective inception. Its basic human instinct to acknowledge and based value addition are equally pivotal to the quality respond to competition going around. It’s not surprising of an accountant’s work and its products. The advent of that in corporate world, everyone is striving to be the the latest technological advancements has significantly best and irreplaceable. Quality Output can make you the cut down the cost of resources enabling the accountants finest arrow of quiver. to focus more on quality driven efforts matching with ever growing requirements of the entrepreneurs and “ABILITY” and “WILLINGNESS” are traits which can be other users. The professional accountants affiliated with pronounced as pre-requisites for a quality output. recognized accounting bodies have added pressures Beware of instances which can blunt any of these from the regulators and other monitoring authorities attributes. who act as deterrent for them to maintain the quality of the work and meet minimum compliance requirements. What impairs ABILITY? …..Of course, carelessness would be a stock answer, cope it !!! Secondly, knowing Abdus Slam, ACA (R-7627) nitty-gritty of a task may not be enough, if you know Faislabad how to do a job by yourself, learn to get it done through your vice also, especially when you are working Quality objective - State of being free from deficiencies, somewhere at middle or top levels of hierarchy. Freeing work from deficiencies does not mean covering Understand assignments, delegate them, keep follow mistakes rather eliminating them through care. up and supervise. Achieving Quality - Quality does not happen How WILLINGNESS is blunted? You think you instantaneously but it’s being created. To achieve quality are a marathon worker but your efforts are not in work requires “Quality Care”. acknowledged. Your peers get appreciation despite the fact that you work more than anyone else. Workplace Quality care - It exists when you follow “Better than has become a place of depression…… Refresh yourself before approach”. It means to adopt a cyclic approach---- and understand the difference between efficiency and errors/problems----correction/solution-----improvement effectiveness. You may be efficient but may not be -----Quality. Cycle recurs again. It means not being effective !!! Admit your weaknesses, as it is the first step complacent with your existing performance but careful towards excellence. in finding ways to insert improvements in the work. The Pakistan Accountant | Apr-Jun 2014 5