Complex Made Simple: Is It Really Possible?
Complex Made Simple: Is It Really Possible?
The world is becoming complex and so are the financial terms and business concepts. The accounting standards have been improved over the years for better transparency and quality of financial reporting. But, this is increasing complexities in the treatment and representation of various accounting transactions especially the transactions like leasing, stock compensation, revenue recognition, etc.
The question is “can these complex accounting transactions be made simple?”
Yes, it’s possible!
The best way to do so is by breaking down these intellectually complex questions into simple concepts. After that link details to simple concepts.
Just like that, in the case of complex operational projects such as good-sized internal control work, they are difficult to manage because of so many interrelated pieces.
With the “complex made simple” perspective, it will be easier to manage such a huge project, if the huge and complex tasks are broken down into simple manageable tasks. Also, it is important that one task is handled at a time for the sake of simplicity and efficiency.
It is important to keep your focus on concepts and then, on the details. Why this approach makes sense?
- It makes project management extremely efficient since you know what you are dealing with.
- You keep delivering value to your clients continuously by making small yet identifiable progressions.
Hence, the concept comes first and details next so that the “complex is made simple.”
Why was FinAcco set up?
Our managing partner, Nick Larchenko spent many years at a big four accounting firm and a couple of other consulting firms in Southern California. While working there, he realized most of the work he was doing was related to finding a way around someone else’s issue. Those issues were mostly related to corporate inefficiencies.
He realized that instead of working on the resolution of those issues, his job was more about finding a way around without addressing those issues.
That’s when he realized that he needed to set up his own business so that he can get to the bottom of these business issues and be open about them.
What makes FinAcco different from other firms?
In the case of client service-based business, two main competencies are involved:
- Professional skill set
- Client relationships
It’s really difficult to be unique on that front. However, FinAcco on the top of these two concepts offers the complex made simple advantage. This really makes our project management very efficient and quick. We at FinAcco make sure to get things done in a simple, efficient and organized manner.
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