I started my career in Nigeria at a time when the unemployment rate was 12%. As a result, it didn’t make sense to invest hard-earned money to acquire a degree to spend years after graduation stuck in the job market. So I asked myself: ‘What profession is the most hired?’ Salespeople first followed by accountants was the answer – because every business needs to make sales and once the money starts rolling in, someone has to account for it. To maximise my chances of getting a job after graduation, I went for accounting.
I work with a global logistics and supply chain management company as a commercial financial analyst. This role enables me to implement the output of my doctoral research, specifically financial distress diagnosis, revenue and cost models. What I enjoy about my role is the opportunity to combine finance and business competence in assessing business performance and evaluating customer quotes as well as pricing.
Although SMEs are more flexible in adapting to changing government policies, this also deters long-term strategic planning
The manner in which business is conducted has changed significantly over the past decade. The lower end of the accounting profession, such as accounts receivable and accounts payable, is gradually being eroded by non-accountants and accounting applications. This is more so in smaller markets like New Zealand, where broad career specialisation is valued over narrow specialisms.
SMEs represent 97% of all businesses in New Zealand. These miss out on economies of scale and synergy enjoyed by larger businesses. Although they are more flexible in adapting to changing government policies, this also deters long-term strategic planning.
I have advanced my career and academic endeavours side by side. To date, I have both bachelor’s and master’s degrees across accounting, finance and business, and I am completing a PhD. Gaining my ACCA membership back in 2011 was strategic and instrumental to this achievement.
Financial distress and business failure is a plague to any economy, and that inspired my doctoral research. I aspire to build a robust diagnostic tool that diagnoses early stages of financial distress before actual failure by assessing historical financial and non-financial results.