Assistant FC new job advice needed

FMI

Hi Guys,

Looking for some advice here, starting job as assistant FC next month with new company. Currently working as assistant accountant experience is AP/AR chasing debts, weekly payroll 200+ cash flow forecast prepare month end for current FC but have never done it or been showed how to do it.

The Assistant FC job I've been offered is a fantastic opportunity as current FC guy wants to retire within next 18 months, and my contract has next 3 yrs planned out with been installened as FC in third.

They know what exp i have i.e. that cant do month end/accrauls and prepayments etc but have said i will get all help and training to bring me up to speed.

Can you recommend any books i can read in the meantime, never done month end accounts etc. also there will be one person under me who will do debtors creditors chasing money etc. i've never told anyone what to do or had experience telling someone what to do, im the kind of person who will normally do it than ask someone, how do i get out of this habit and do it tactfully? any books again can you reccomned?

Any help appreciated,

Cheers,

FMI

smcgiff

Don't sweat it. They know your experience and you are going to be trained in. Spend time getting to know the business, and in particular what drives its costs and revenues. What accruals are needed at month end? When you get into the company look at the prior month's records/workings and learn from them.

I don't think there's any book on how to deal with month end.

Re delegation. Think of someone that you reported into - take the strong points from this person and apply them to the position. There's a good possibility that the person you will have under you will know more about the company than you do when you start, so don't try and BS them!

Remember titles are very fluid. What an assistant FC does in one company will be a lot different in another company. Some assistant FCs will be doing exactly what you were doing in your old company. Other assistant FCs, in larger companies, will be doing more than what the FC does in the company you are joining.

Good luck!

FMI

Thanks smcgiff,

I think i will be ok as assistant as still learning from current FC but really worried that this guy is retireing and i will solely be responsible, dont get me wrong its exactly what i want. But because i've not had that level of responsibility before its a bit daunting.

Yeah like you said dont BS person who will be supporting me, i want to get off on the right foot with this person but at same time i want to be firm with them, as i said i tend not to be great at delegation and end up doing it myself, is there any good books that you have read reagrds this managing people body language etc or is it all down to experience?

Thanks again,

FMI

smcgiff

Hi FMI,

Afraid some things need to come from experience - and that includes being able to manage. Books may exist, but no substitute for experience. I don't know of any.

BTW, don't go mad on the firmness.

It depends on management style I guess. I give people the benefit of the doubt and that we're all in it together. Take month end for example. We're a team and month end wont get done without all of us. Each team member knows this and will do their best. If you think someone is slacking off then that's a different story, but in that case it may be best to involve the FC if it happens soon after you join. Basically, trust your instincts, but don't be afraid to ask for help.

The most important piece of advice I will give you is that you being prepared or not for when the current FC leaves is not a problem.

It will be two years time by the time the FC leaves and it's up to you to get up to speed in that time. It's up to you whether you want it badly enough.
But, if you're not up to speed you wont be given the job - simples!

Despite what the company says now be in no way certain you will be made FC in two years time. The company will make that decision in two years time. Their current statement is really meant for motivation. That's my opinion anyway, which may be unfair to the company.

FMI

Thanks smcgiff,

Really appreciate your advice have found it very helpfull and i guess its best to just go with the flow rather than trying to prepare for everything before i start, first get in settle down and once i hav my bearings really put the effort in.

Thanks again,

FMI