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6 elements of professional judgement Logo cgma

  Sir Andrew Likierman |   Free |   Dec 2019 |   FM magazine

Having the right professional judgement is essential to being part of the management team. It is very much concerned with ethical objectivity and avoiding bias. This article offers six elements that determine judgement and suggests ways of improvement. It can enable skilled technicians to progress to CFOs and general managers.

Topics covered:
  • Management accounting: People: Communication, Advanced

3 Comments/Reflections

Jessica Smith

Jessica Smith Mar 2020

A good quote to remember from this article: 

"To give an idea of the personal qualities involved, they include acumen, character, common sense, discernment, emotional intelligence, insight, intelligence, intuition, gut feel, perceptiveness, reason, risk awareness, and wisdom. Under professional standards come the qualities associated with integrity and ethical behaviour."

I also found it interesting that the implementation is classed as part of judgement, and I liked that the article pointed out various portions of projects that require judgement, which essentially covers all aspects. I think in the role of management accountant there is a need to build good relationships and ensure a strong reputation to aid in judgement implementation and discussing the various aspects of judgement and what this means for the project/department, etc. This relationship will foster better decision making within the team rather than the management accountant/business partner appearing to make unilateral decisions.
Mary O'Dwyer

Mary O'Dwyer Feb 2020

Good reminder of our habits and 'rote' thinking  in all areas
Challenge from peers and managers should be welcomed and not seen as obstructive
but as ever it the manner in which this is put across is key.

Claire Lewis

Claire Lewis Feb 2020