Description

Is it better to be a specialist or a generalist?

Specialists are subject matter experts in a field who usually attain their status by investing large amounts of time. Indeed, the 10,000-hour rule is a common guideline, stating that 10,000 hours of consistent and intensive practice are needed to achieve mastery of a content area. Once expert level is attained, specialists must utilize additional time and energy to remain at the cutting edge.

Generalists usually juggle multiple skills and interests rather than focusing on one. They typically have broad scope of knowledge within their own industry or across multiple disciplines. With the pace of economic and industry change increasing at a virtually exponential rate, understanding new developments, and applying existing skills to the practice of accounting is best achieved by generalists.

This ongoing webcast series takes a generalist approach. Once a quarter we will explore three different topics in sixty minutes (“3 in 60”) that will either provide exposure to new subject matter or enhance your understanding of areas you are already familiar with. The goals are to increase your knowledge base and improve your skills.

The May 1 2025 webcast will include the following three topics:

• Merchant Cash Advances: Funding for Risky Borrowers.
• Decision Making: The Endowment Effect and the Sunk Cost Fallacy.
• The Balanced Scorecard: Implementation Issues.

This webcast is applicable for accounting and finance professionals at every level in public, governmental, and private practice.