is that it's basically transparent to any industry and setting a standard that people around the world appreciate. SETTI
David Carlisle CPA, CGMA
Managing Director CPACVA
SETTING GLOBAL BENCHMARKS CGMA David Carlisle is currently Managing Director of his own company, CPACVA. Today he uses his CGMA skill set and years of experience to provide crisis management for $25 million to $50 million businesses that need help getting back on track.
David’s top tips: • Don’t take anything at face value. Matters are usually more complex than you’d think from the outset. • Work on your listening skills. Listening is an art. Become proficient at it. • Pick up problem solving tools. Your approach to problems will dictate your success in solving them. • Don’t neglect your people skills. These are crucial if you want to lead teams and influence management. • Don’t be shy to take on a challenge. Capitalise on challenges you meet and make them work for you.
When David Carlisle left his last position as chief executive officer and chief financial officer of industrial manufacturer Constellation Enterprises, he was due to retire. He had enjoyed a long and varied career which included serving in the US military in the 1970s, becoming an auditor in the 1980s, and working for different companies as finance director, vice president of finance, group director and CFO. On his way up the finance career ladder, he had built on the solid base of finance skills that his CPA training had given him to become a CGMA. As it turned out, David found that he wasn’t actually ready to give up work yet. Instead, he turned to his extensive networks to start up his own business-to-business crisis management consultancy, CPACVA, in Ohio. “Over the years, I have been able to have a real impact on the businesses I’ve worked for, assisting management to achieve results and expanding the scope of multiple organisations,” says David. “I’ve had a lot of fun along the way, but my work with distress management was always the most rewarding part of what I do. So it was natural for me to return to focus on this in my semi-retirement. Helping a business to overcome setbacks and get back on track so that they can be audited successfully and achieve solid financial results requires more than just a financial perspective. You need to also understand the managerial and operational side and be able to evaluate the
business across the board. Now when working with distressed companies, I look to bring in people with a CGMA skill set that allows them to do this.”
Complete toolkit For David, being a CGMA is a culmination of the professional experience and practical business acumen that he has built up over the years. He expanded on his CPA training, developing managerial skills that he says have got him to where he is today. “If you want to really add value to a business, it’s crucial to develop a toolkit of learning, skills and experience,” says David.
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The beauty of being a CGMA is that it’s basically transparent to any industry and setting a standard that people around the world appreciate.
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“Being a CPA was an excellent basis from which to move forward, lending me credibility and respect, teaching me how to communicate both internally and externally, and give me a firm grounding in the rigours of accounting. But at that stage my focus was primarily on statutory accounting and reporting. I recognised that I needed to understand not only how financial accounting works, but also how it fits into an organisation. As a CGMA, I have the know-how to evaluate a company’s historical data and information to form an analysis of its future potential. I’m a pragmatic person and I take a systemic approach to business processes. By developing a better understanding of the activities that generate the numbers, I have been able to make an impact on the managerial teams I have served, turning daily operations into meaningful results.”
Varied career David’s career has been varied in every possible way. His experience covers industries as diverse as private equity, steel, manufacturing and power. He has worked with different markets, including Europe, the Middle East and Africa, China and Mexico. He has had a hand in restructuring, mergers & acquisition, forward strategic planning and establishing a global treasury function. “The beauty of being a CGMA is that it’s basically transparent to any industry and setting a standard that people around the world appreciate,” says David. “Regardless of the industry you’re working in, you have to focus on processes across the board and grasp the internal trigger factors that have an impact on a given business. Over the years, I used my CGMA skill set to work my way up through higher and further reaching financial roles.
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Today, what’s more important is that people are in tune with processes and know how to get the most out of them, that they have the type of analytical skills that CGMAs develop.
CGMAs have analysis skills above and beyond what you pick up as a CPA, and this designation can propel you more rapidly up the career ladder. I believe that my success is based on my ability to interact with management to achieve financial and operational results. This has allowed me to move through the financial arena in the middle market (businesses valued at $15 to $500 million), where there’s more of a need for management than for pure accounting.”
DAVID’S GLOBAL SKILL SET Understand managerial and operational sides of a business
Ability to communicate both internally and externally
Automated accounting
Understand how accounting fits into an organisation
David has always embraced advances in technology in his field of expertise. He himself has carried out several systems installations that have introduced totally new practices and changed the very nature of the financial role.
Evaluate historical data and information to form an analysis of a company’s future potential
“The way a financial role is carried out today is a far cry from the world of pencils, erasers and handwritten worksheets in which I got my degree and CPA qualification,” says David. “Technology advances have really revolutionised financial reporting, with sophisticated systems taking over from manual skills. Today, what’s more important is that people are in tune with processes and know how to get the most out of them, that they have the type of analytical skills that CGMAs develop.”
Interact with management
Be in tune with processes and know how to get the most out of them
Committee work Having been a member of AICPA for many years, David volunteered to serve on the Business and Industry Executive Committee (BIEC). The BIEC’s role is to consider global issues affecting AICPA relations with its members in business and industry, and to identify future trends and issues. One of David’s interests is to get word out to people about CGMA and the high degree of professionalism embodied by CGMA designation holders. “My colleagues on the BIEC come from a range of backgrounds, both academic and business, and we are working together to represent and support accountants in business, industry and not-for-profits,” says David. “One of our roles is to identify and promote courses of study that head people towards CGMA designation. It’s important for us to take a global perspective and to learn from our colleagues around the world. I am fully behind the work that CGMA is doing in setting global benchmarks for skills and best practice in the finance community.”
Financial expertise and business insight About the CGMA designation Success in today’s highly competitive business landscape requires insight and innovation. The Chartered Global Management Accountant® (CGMA®) designation recognises the most talented and committed management accountants who combine core financial skills with business acumen to drive strong business performance. CGMA professionals are either AICPA members with qualifying management accounting experience or associate or fellow members of the Chartered Institute of Management Accountants. CGMA designation holders are helping many of the world’s leading organisations achieve sustainable business success.
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