New position.

NickyW

This might seem like a strange post but was wondering if anyone out there is in the same boat as I am.
I have been studying AAT and just need to sit the tax papers and will then be finished.
I have been in minor Accounts roles for quite a few years but recently got a postion within a very small company where I can actually use the information I have learnt from AAT.
I now find myself in a position where my Boss is asking me to do stuff such as forecast P & L, Balance Sheets, performance indicators etc. I know how to do it but as I have never done it I find myself trawling through the internet and using forums such as this to make sure I have got it right.
I suppose my question is is this OK to do?? And are there any people out there who have been in a similar postion.?
I am sort of thinking that maybe I am unqualified to do this job or maybe lacking from a crippling lack of self confidence!!
Any comments gladly welcomed!
Nicky

Woooof

Your not unqualified, the main problem is getting to grips with all the procedures/equations/layouts etc again after you have not used it for a while.

And another thing, I see our IT guy regularly on Google trying to find answers he doesn't know

NickyW

Thanks for this. Think I had a bad day at work. Have now started to draft a forecast P & L something I have never done before - and do you know, it wasn't as hard as I had anticipated!
Nicky

coojee

We all look things up when we're not sure how to do things. It's not a sign of weakness, it's actually a strength because you've got the gumption to realise that you don't know the answer. The people who make a mess of things are the ones who think they know what they're doing and go at things like a bull in a china shop not realising that they're making a pigs ear of it because they don't know what they're doing.

I'm sure there's a saying something along the lines of, intelligence is realising when you don't know the answer and doing something about it.

Good luck in your new job and enjoy!

JaffasGirl

coojee wrote: »

I'm sure there's a saying something along the lines of, intelligence is realising when you don't know the answer and doing something about it.

Good luck in your new job and enjoy!

'Intelligence is not to make no mistakes, but to quickly see how to make them good' - Bertolt Brecht

i also like -

'It is wiser to find out than to suppose' - Mark Twain

coojee

JaffasGirl wrote: »

'Intelligence is not to make no mistakes, but to quickly see how to make them good' - Bertolt Brecht

i also like -

'It is wiser to find out than to suppose' - Mark Twain

Ah, thank you. I knew there was one somewhere!

anniem

Disappointed - I just read this as I thought it may relate to the Karma Sutra .........

Never mind!

anniem

NickyW - I think it's fantastic that you have a role you can grow into.

Think of it this way - how dull might your job be if you didn't have to learn new skills ..... I think you will be happier for longer if you feel challenged and useful, rather than doing something mundane and routine

A-Vic

bad anniem bad bad anniem

anniem

A-Vic wrote: »

bad anniem bad bad anniem

Am I the only one who read the title and wondered?????

Jan

anniem wrote: »

Am I the only one who read the title and wondered?????

Yes!

Now go & find that German website

anniem

Jan wrote: »

Yes!

Oh

blobbyh

When it comes to management accounts and executive reports, these are often bespoke for the directors and other decision makers of the business you're working for. Our first friend is Excel but our close second is Google! Of course, you're right to be a little wary but this sounds like a fantastic opportunity that many on here would give their right arms for. As far as the KPI's go, you'll need to discuss with your boss what he wants to analyse. An example that I produce is cost cover ratios of our recruitment consultants - their gross salaries + taxes, commissions, healthcare, other benefits etc - against their revenues earned, with a target of three times covered. This has been especially important to help us get through the past eighteen months where we cannot afford to keep employing non-fee earning, highly paid sales staff.

You know how to produce the financial statements and manipulate data from DFS, so you already have the basic tools. Train yourself at Excel to advanced level, think a little differently and set your imagination free with the wealth of other reports you can make.

PGM

NickyW wrote: »

crippling lack of self confidence!!

This is what effect many of us.

Profit projection is quite simple, is us that complicate it with fancy layouts.

NickyW

I haven't been on this forum for a while and just wanted to say thanks for all your replies!
Nicky

rawtec

I can fully understand the self-doubt, I would be much the same in your position.

But what an opportunity! The best way of learning is by practice and repetition in the real world. As long as you know exactly what information the boss requires then your AAT knowledge, Google, Forums and referring back to the text books would be perfectly exceptable.

Before you know it, you'll be a dab-hand and probably have more in-depth knowledge than people who do this on a template by rote-number.

Best wishes, I hope it all goes well.

Rob

Londina

NickyW wrote: »

I now find myself in a position where my Boss is asking me to do stuff such as forecast P & L, Balance Sheets, performance indicators etc. I know how to do it but as I have never done it I find myself trawling through the internet and using forums such as this to make sure I have got it right.

But don't everybody think that this boss should at least give some training to Nicky in order to do this new job? Cannot expect a person to suddenly do a new job without explanation?

it's like my job, where I have been asked to do tax returns for individuals and didn't receive any traning (also don't have the knowledge, as I didn't study PTC!!)