February 21, 2023 • 12 mins
Our professional credentials show our commitment level in becoming an expert in the finance and accounting fields. These are badges of knowledge and expertise that show our level of technical knowledge, strategy, and in leadership. Earning professional credentials demonstrates our dedication to learning and growing so that we can provide the best level of service and advice in often tough situations. The Finance and accounting fields are constantly evolving as business and the economy changes. Top companies and clients want experts guiding them as they develop and execute an effective strategy in challenging times. Earn your credentials so you achieve a high level of expertise so you are sought after to lead.
Episode outline:
- What does it mean by having professional credentials,
- Where should you focus, and
- Ensure you manage your continuing professional credits throughout the year.
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For more resources, please visit stephenmclain.com. On the website, you can download the Leadership Growth Blueprint for Finance and Accounting Managers. You can use this guide to develop your leadership by focusing on communication, and growing and empowering your team.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Stephen McLain (00:05):
Our professional credentials show our commitment
level in becoming an expert inthe finance and accounting
fields. These are badges ofknowledge and expertise that
show our level of technicalknowledge, strategy and
leadership. Earning professionalcredential demonstrates our
dedication to learning andgrowing so that we can provide
(00:26):
the best level of service andadvice in often tough
situations. The finance andaccounting fields are constantly
evolving as business in theeconomy changes. Top companies
and clients want experts guidingthem as they develop and execute
an effective strategy inchallenging times or in your
credentials, so you achieve ahigh level of expertise. So you
(00:50):
are sought after to lead. Pleaseenjoy the episode. Welcome to
the finance leader podcast orleadership is bigger than the
numbers. I am your host, StephenMcLean. This is the podcast for
developing leaders in financeand accounting. Please consider
following me on Twitter,Facebook, Instagram, and
LinkedIn. My usernames and thelinks are in this episode
(01:12):
shownotes. This is episodenumber 104. And now we'll be
talking about earning yourcredentials. And I will
highlight the following topics.
Number one, what does it mean byhaving professional credentials?
Number two, where should youfocus and number three, ensure
you manage your continuingprofessional education credits.
Throughout the year, author andmotivational speaker Denis
(01:34):
Waitley said continuous learningis the minimum requirement for
success in any field. This week,we are talking about earning our
professional credentials whichrefer to qualifications
certifications or licenses thatindividuals earn to demonstrate
their knowledge, skills andexpertise in a particular field
or industry. For thisdiscussion, I want you to focus
(01:57):
on earning your advanced degreeand your professional
certification. But also thismeans that you continue to learn
and grow in your field becauseit is continually changing. I
have talked about earning yourcredentials previously in
several standalone episodes inEpisode 13, earning a
certification in Episode 61,earning your annual continuing
(02:20):
professional education credits,and episode 84 Do finance and
accounting professionals need agraduate degree. I have also
included the topic and manyother episodes such as Episode
77, the five pillars of careeradvancement for finance and
accounting professionals. Soplease go back and listen to
these episodes. So you can get aclearer picture and plan for
(02:41):
your development. These episodescan definitely provide
additional insights, you willnot regret it. professional
credentials can play animportant role in an
individual's professionaldevelopment, and success. They
can demonstrate expertise, buildcredibility and trust, open up
career opportunities and meetregulatory requirements.
(03:02):
Companies and clients rely onfinance and accounting
professionals to be experts andto be committed to growing and
learning the field. So theyprovide the knowledgeable advice
and to apply the best practicesto our work. Also, we have
regulatory requirements to meetwith financial reporting, and
how we maintain our records andpublish financial statements.
(03:25):
And it's even more rigorous forpublic companies. There are so
many changes occurring all thetime, just want to give you one
good example of change. Now thisis early 2023. At the time of
this recording, are you trackingall the changes to the crypto
industry that are happeningright now? Every day there is a
new development in crypto. Andif your company is deeply
(03:49):
invested in it or accepts cryptofor payment, you will need to be
up to speed on all thesechanges. I believe that every
finance and accountingprofessional should earn at
least two credentials, anadvanced degree like an MBA, or
even a specific degree inaccounting or finance. To me it
does not matter which degree NoGo earn one. And the other
credential is a professionalcertification. Like certified
(04:11):
public accountant. A CPA licenseis the most sought after is the
most respected and often paysyou more in the long run, you
will see many job qualificationsthat lists CPA as a desired
requirement. Learning does notend with the earning of your
credentials. It's only thebeginning. finance and
(04:32):
accounting professionals areexpected to be lifelong learners
who embrace the constant changethat we face, who discover and
research best practices and whostay on top of all the
regulatory updates thatgovernments publish continually.
Learning is the bridge tobecoming better and sought after
by companies and clients whowant to have us lead their teams
(04:53):
and organizations. One othergreat consideration for earning
professional credentials. Arethe networking opportunities.
Your certification opensopportunities to meet other
professionals in the field whocan help you with your career.
Don't disregard this importantaspect of being a professional
in finance and accounting youget in the room with other
(05:13):
professionals. This gives you anadvantage over those who choose
not to earn one. After you earnyour certification, you will
need to plan and earn continuingprofessional education credits.
To maintain the certification.
It is on you to plan andcomplete this requirement on
time to keep the certification.
Don't wait until the end of theyear. Earn a few credits each
(05:36):
month. So you stay current.
There are often many ways toearn credits. Listen to Episode
61. For a few resources that youcan use to earn credits. I love
learning, growing anddevelopment. It's the heart of
getting better every day, and iscritical to your success. Every
time we learn something new. Weget to apply it in our career,
(05:59):
and to make a positivedifference in our organization.
Never stop learning never stopgrowing. Never stop developing.
Your individual development planis a working document that is
never complete. You only keepupdating it with your progress
and your new goals. Now let'stalk about earning your
professional credentials. Numberone, what does it mean by having
(06:22):
professional credentials?
professional credentials candemonstrate that an individual
has the necessary knowledge andskills in a particular field or
industry. They can provideevidence that the person has
completed relevant education,training or examinations and has
achieved a certain level ofproficiency. They can also help
individuals build credibilityand trust with employers,
(06:43):
colleagues, clients andcustomers. They can provide
assurance that the individualhas met certain standards and is
committed to maintaining theirprofessional knowledge and
skills. Additionally, it canopen up new career opportunities
by increasing an individual'svisibility and marketability.
They can also be a requirementfor certain jobs or promotions,
(07:06):
and can make an individual morecompetitive in the job market.
Number two, where should youfocus, you have many choices of
where you spend your time andwhere you focus on your
development. There is nothingmore important than earning
credentials, so an employer cansee and understand better what
you bring in terms of technicalexpertise and leadership. I
(07:27):
recommend earning an advanceddegree and a professional
certification. Having both canopen doors to certain jobs
within our profession. Also,they may lead to higher
compensation and higher jobsatisfaction. You will be seen
as an expert and will be askedto provide analysis and advice
based on those credentials.
(07:50):
Number three, ensure you manageyour continuing professional
education credits throughout theyear. Managing continuing
professional education creditsis an important part of
maintaining your professionalcredentials, and staying up to
date in your field. The firststep in managing your CPE
credits is to understand therequirements of your
professional credential. Checkwith the professional
(08:12):
organization or regulatory bodythat issued your credential to
determine how many CPE creditsyou need, and what types of
activities are acceptable forearning credits. It's important
to keep track of your CPEcredits, including the date of
the activity, the number ofcredits earned and the provider
of the activity. This can bedone manually in a notebook or
(08:34):
spreadsheet or through onlinetools like CPE tracking
software, or mobile apps. Make aplan for earning your CPE
credits throughout the year sothat you don't have to rush to
earn them all at the end of yourcredentialing period. Look for
opportunities to earn CPEcredits, do conferences,
workshops, online courses andother relevant activities. When
(08:56):
selecting activities to earn CPEcredits. Choose activities that
are relevant to your profession,and provide valuable learning
experiences. Look for activitiesthat are offered by reputable
providers and that are approvedby your professional
organization or regulatory body.
After completing an activity,make sure to obtain
documentation of yourcompletion. This may include a
(09:16):
certificate of attendance orcompletion, a transcript, or
other proof of completion. Keepthese records in a safe place so
that you can easily access themwhen it's time to report your
CPE credits. To be seen andaccepted as a finance and
accounting professional. Youmust work on your credibility
and expertise. I earned amaster's degree in business and
(09:37):
a professional certification asI was advancing in my career.
These were considered nearlymandatory in a competitive
environment. Do you want to becompetitive for promotion and
for additional opportunities?
Then you need to grow yourexpertise and leadership. Now
for action today.
If you don't already hold aprofessional certification or an
(09:59):
advanced degree I am asking youto do the analysis and add these
goals to your individualdevelopment plan, do the self
assessment and make a decisionon when you can work to these
goals into your plan. If youhave not already, I want to
invite you to download aleadership guide for finance and
accounting leaders, you can goto Finance leader academy.com
and select Free leadership guideon the main menu. It's free, and
(10:22):
it may give you a few ideas foryour own leadership development.
Today, I talked about earningyour professional credentials,
and I highlighted the followingpoints. Number one, what does it
mean by having professionalcredentials? Number two, where
should you focus, and three,ensure you manage your
continuing professionaleducation credits throughout the
(10:43):
year. Professional developmentis important because it helps
individuals stay up to date withthe latest developments in their
field, improve their skills andknowledge and advance in their
careers. Earning yourcredentials is important to our
professional development and forour career advancement and
overall satisfaction for what wedo every day. keep learning keep
(11:04):
growing and keep developing soyou have opportunities to
advance your career. And so youcan maximize your chance to be
promoted to CFO and even CEO.
You must stay competitive tomove forward. I know you are
making progress, so don't quit.
Don't let up keep moving forwardtowards your long term goal no
matter how long it takes, orwhat obstacles you have to
(11:27):
overcome. Remember, we are beingbold this year. Believe overcome
leadership and decisive now yougot this next episode I will be
talking about finance andaccounting trends for 2023. I
hope you enjoyed the financeleader podcast I am dedicated to
helping you grow your leadershipskills to change your mindset
(11:47):
and to clarify your goals and soyou advance your career. You can
find this episode wherever youlisten to podcast. If this
episode helped you today, pleaseshare and leave a quick review
so that others would find thepodcast. Until next time, you
can check out more resources atfinance leader academy.com and
sign up for my weekly updates soyou don't miss an episode of the
(12:09):
podcast. And now the lead yourteam and I'll see you next time.
Thank you
Our professional credentials show our commitment
level in becoming an expert inthe finance and accounting
fields. These are badges ofknowledge and expertise that
show our level of technicalknowledge, strategy and
leadership. Earning professionalcredential demonstrates our
dedication to learning andgrowing so that we can provide
(00:26):
the best level of service andadvice in often tough
situations. The finance andaccounting fields are constantly
evolving as business in theeconomy changes. Top companies
and clients want experts guidingthem as they develop and execute
an effective strategy inchallenging times or in your
credentials, so you achieve ahigh level of expertise. So you
(00:50):
are sought after to lead. Pleaseenjoy the episode. Welcome to
the finance leader podcast orleadership is bigger than the
numbers. I am your host, StephenMcLean. This is the podcast for
developing leaders in financeand accounting. Please consider
following me on Twitter,Facebook, Instagram, and
LinkedIn. My usernames and thelinks are in this episode
(01:12):
shownotes. This is episodenumber 104. And now we'll be
talking about earning yourcredentials. And I will
highlight the following topics.
Number one, what does it mean byhaving professional credentials?
Number two, where should youfocus and number three, ensure
you manage your continuingprofessional education credits.
Throughout the year, author andmotivational speaker Denis
(01:34):
Waitley said continuous learningis the minimum requirement for
success in any field. This week,we are talking about earning our
professional credentials whichrefer to qualifications
certifications or licenses thatindividuals earn to demonstrate
their knowledge, skills andexpertise in a particular field
or industry. For thisdiscussion, I want you to focus
(01:57):
on earning your advanced degreeand your professional
certification. But also thismeans that you continue to learn
and grow in your field becauseit is continually changing. I
have talked about earning yourcredentials previously in
several standalone episodes inEpisode 13, earning a
certification in Episode 61,earning your annual continuing
(02:20):
professional education credits,and episode 84 Do finance and
accounting professionals need agraduate degree. I have also
included the topic and manyother episodes such as Episode
77, the five pillars of careeradvancement for finance and
accounting professionals. Soplease go back and listen to
these episodes. So you can get aclearer picture and plan for
(02:41):
your development. These episodescan definitely provide
additional insights, you willnot regret it. professional
credentials can play animportant role in an
individual's professionaldevelopment, and success. They
can demonstrate expertise, buildcredibility and trust, open up
career opportunities and meetregulatory requirements.
(03:02):
Companies and clients rely onfinance and accounting
professionals to be experts andto be committed to growing and
learning the field. So theyprovide the knowledgeable advice
and to apply the best practicesto our work. Also, we have
regulatory requirements to meetwith financial reporting, and
how we maintain our records andpublish financial statements.
(03:25):
And it's even more rigorous forpublic companies. There are so
many changes occurring all thetime, just want to give you one
good example of change. Now thisis early 2023. At the time of
this recording, are you trackingall the changes to the crypto
industry that are happeningright now? Every day there is a
new development in crypto. Andif your company is deeply
(03:49):
invested in it or accepts cryptofor payment, you will need to be
up to speed on all thesechanges. I believe that every
finance and accountingprofessional should earn at
least two credentials, anadvanced degree like an MBA, or
even a specific degree inaccounting or finance. To me it
does not matter which degree NoGo earn one. And the other
credential is a professionalcertification. Like certified
(04:11):
public accountant. A CPA licenseis the most sought after is the
most respected and often paysyou more in the long run, you
will see many job qualificationsthat lists CPA as a desired
requirement. Learning does notend with the earning of your
credentials. It's only thebeginning. finance and
(04:32):
accounting professionals areexpected to be lifelong learners
who embrace the constant changethat we face, who discover and
research best practices and whostay on top of all the
regulatory updates thatgovernments publish continually.
Learning is the bridge tobecoming better and sought after
by companies and clients whowant to have us lead their teams
(04:53):
and organizations. One othergreat consideration for earning
professional credentials. Arethe networking opportunities.
Your certification opensopportunities to meet other
professionals in the field whocan help you with your career.
Don't disregard this importantaspect of being a professional
in finance and accounting youget in the room with other
(05:13):
professionals. This gives you anadvantage over those who choose
not to earn one. After you earnyour certification, you will
need to plan and earn continuingprofessional education credits.
To maintain the certification.
It is on you to plan andcomplete this requirement on
time to keep the certification.
Don't wait until the end of theyear. Earn a few credits each
(05:36):
month. So you stay current.
There are often many ways toearn credits. Listen to Episode
61. For a few resources that youcan use to earn credits. I love
learning, growing anddevelopment. It's the heart of
getting better every day, and iscritical to your success. Every
time we learn something new. Weget to apply it in our career,
(05:59):
and to make a positivedifference in our organization.
Never stop learning never stopgrowing. Never stop developing.
Your individual development planis a working document that is
never complete. You only keepupdating it with your progress
and your new goals. Now let'stalk about earning your
professional credentials. Numberone, what does it mean by having
(06:22):
professional credentials?
professional credentials candemonstrate that an individual
has the necessary knowledge andskills in a particular field or
industry. They can provideevidence that the person has
completed relevant education,training or examinations and has
achieved a certain level ofproficiency. They can also help
individuals build credibilityand trust with employers,
(06:43):
colleagues, clients andcustomers. They can provide
assurance that the individualhas met certain standards and is
committed to maintaining theirprofessional knowledge and
skills. Additionally, it canopen up new career opportunities
by increasing an individual'svisibility and marketability.
They can also be a requirementfor certain jobs or promotions,
(07:06):
and can make an individual morecompetitive in the job market.
Number two, where should youfocus, you have many choices of
where you spend your time andwhere you focus on your
development. There is nothingmore important than earning
credentials, so an employer cansee and understand better what
you bring in terms of technicalexpertise and leadership. I
(07:27):
recommend earning an advanceddegree and a professional
certification. Having both canopen doors to certain jobs
within our profession. Also,they may lead to higher
compensation and higher jobsatisfaction. You will be seen
as an expert and will be askedto provide analysis and advice
based on those credentials.
(07:50):
Number three, ensure you manageyour continuing professional
education credits throughout theyear. Managing continuing
professional education creditsis an important part of
maintaining your professionalcredentials, and staying up to
date in your field. The firststep in managing your CPE
credits is to understand therequirements of your
professional credential. Checkwith the professional
(08:12):
organization or regulatory bodythat issued your credential to
determine how many CPE creditsyou need, and what types of
activities are acceptable forearning credits. It's important
to keep track of your CPEcredits, including the date of
the activity, the number ofcredits earned and the provider
of the activity. This can bedone manually in a notebook or
(08:34):
spreadsheet or through onlinetools like CPE tracking
software, or mobile apps. Make aplan for earning your CPE
credits throughout the year sothat you don't have to rush to
earn them all at the end of yourcredentialing period. Look for
opportunities to earn CPEcredits, do conferences,
workshops, online courses andother relevant activities. When
(08:56):
selecting activities to earn CPEcredits. Choose activities that
are relevant to your profession,and provide valuable learning
experiences. Look for activitiesthat are offered by reputable
providers and that are approvedby your professional
organization or regulatory body.
After completing an activity,make sure to obtain
documentation of yourcompletion. This may include a
(09:16):
certificate of attendance orcompletion, a transcript, or
other proof of completion. Keepthese records in a safe place so
that you can easily access themwhen it's time to report your
CPE credits. To be seen andaccepted as a finance and
accounting professional. Youmust work on your credibility
and expertise. I earned amaster's degree in business and
(09:37):
a professional certification asI was advancing in my career.
These were considered nearlymandatory in a competitive
environment. Do you want to becompetitive for promotion and
for additional opportunities?
Then you need to grow yourexpertise and leadership. Now
for action today.
If you don't already hold aprofessional certification or an
(09:59):
advanced degree I am asking youto do the analysis and add these
goals to your individualdevelopment plan, do the self
assessment and make a decisionon when you can work to these
goals into your plan. If youhave not already, I want to
invite you to download aleadership guide for finance and
accounting leaders, you can goto Finance leader academy.com
and select Free leadership guideon the main menu. It's free, and
(10:22):
it may give you a few ideas foryour own leadership development.
Today, I talked about earningyour professional credentials,
and I highlighted the followingpoints. Number one, what does it
mean by having professionalcredentials? Number two, where
should you focus, and three,ensure you manage your
continuing professionaleducation credits throughout the
(10:43):
year. Professional developmentis important because it helps
individuals stay up to date withthe latest developments in their
field, improve their skills andknowledge and advance in their
careers. Earning yourcredentials is important to our
professional development and forour career advancement and
overall satisfaction for what wedo every day. keep learning keep
(11:04):
growing and keep developing soyou have opportunities to
advance your career. And so youcan maximize your chance to be
promoted to CFO and even CEO.
You must stay competitive tomove forward. I know you are
making progress, so don't quit.
Don't let up keep moving forwardtowards your long term goal no
matter how long it takes, orwhat obstacles you have to
(11:27):
overcome. Remember, we are beingbold this year. Believe overcome
leadership and decisive now yougot this next episode I will be
talking about finance andaccounting trends for 2023. I
hope you enjoyed the financeleader podcast I am dedicated to
helping you grow your leadershipskills to change your mindset
(11:47):
and to clarify your goals and soyou advance your career. You can
find this episode wherever youlisten to podcast. If this
episode helped you today, pleaseshare and leave a quick review
so that others would find thepodcast. Until next time, you
can check out more resources atfinance leader academy.com and
sign up for my weekly updates soyou don't miss an episode of the
(12:09):
podcast. And now the lead yourteam and I'll see you next time.
Thank you
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