Barden Part Qualified Career Blog Series...Next Up Organisational Structure
Are you a part qualified accountant and planning your professional future? If so, then this is the perfect blog series for you. Over the next few weeks we’ll share some excellent insights from the Barden Part Qualified Career Guide, which will help you plan and navigate your professional career.
Next Up…Organisational structure
Where you sit in your firm will have a big impact on your future opportunities. Fact.
Organisational structure is a fundamental concept to working in accounting. This thinking is a must for anyone, and in particular part qualified accountants, thinking of a new role and planning their professional future.
Where you sit in the organisational structure of your next employer will have a key impact on the structures you can access in the future. To make this simple, we’ve broken down the market into four key structures:
- Group Functions: consolidation environments (HQ) where the Global/ Group CFO and CEO sits. Where decisions are made but are often at an arm’s length from actual business activity.
- Finance Hubs or Shared Services Centres: these have lots of different names but are fundamentally where accounting functions are centralised for a particular geography (EMEA or APAC). All financial and statutory accounting for different jurisdictions is done here and information is then pushed to HQ for consolidation.
- SMEs: the most common type of company ranging from the small local store to very large, privately-owned companies that are not part of a bigger multinational. Over 80% of people in Ireland are employed in SMEs and they come in every shape and form imaginable.
- Strategic Business Units: a trading entity for a multinational that serves Europe or focuses on the Irish (domestic) market. It can look like an SME from the outside but has the structures, systems and politics of a larger organisation.
These structures (or a hybrid thereof) can be used to describe 95% of companies out there. And if you work in a group function, do you know where you’ll be most likely to get a job in the future? In a group function…the ‘like with like’ concept strikes again! Also, keep in mind that some structures are further away from each other than others. For example, small SMEs are very far away from Group functions – move to an SME and you reduce your chances of working in a group structure in the future.
To view previous blogs in this series click the link below:
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