Magazine article Strategic Finance

Transitions

Magazine article Strategic Finance

Transitions

Article excerpt

WITH MY TRANSITION into the role of IMA Chair as this new fiscal year begins, I'm reminded of other important transitions I've experienced in my life.

During my many years at Cummins, I've worked in a variety of different roles, each presenting new responsibilities, challenges, and rewards. I've also been involved in a variety of transitions during my time of service to IMA[R] (Institute of Management Accountants)-first as a volunteer leader within my local chapter and then moving on to leadership at the council, U.S., and, eventually, global levels.

Some of us may be experiencing significant transitions right now, in part due to forces in the profession that are beyond our control. Disruptive technologies are affecting many management accountants, particularly as digital advancements such as artificial intelligence, machine learning, and robotic process automation change the skills employers demand most. These changes are impacting entry-level accountants to be sure, but they also have the potential to shake up even the most senior professionals.

Here are a few recommendations to help you with your transitions in life:

* Be a realist. It's best to face up to the reality of the situation rather than deny that change is occurring. That doesn't mean being overly negative or pessimistic but rather having a realistic, honest perspective on what's really happening. It's only then that you can identify and pursue solutions to address the situation. …

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