#208: How Pracademics and Accounting Innovations Can Help Brew Better Results with Martin Quinn

with Martin Quinn

Our Guest Mentor:

Martin is currently a Senior Lecturer in Accounting at Queen’s Management School, Queen’s University, Belfast. Martin’s key research areas are Management Accounting change and Information Systems change. He also does some accounting history and family business accounting research.

Martin holds a CGMA designation and PhD in Accounting at the University of Dundee. Martin is based near Dublin, Ireland

Key Quotes From the Episode: 

“Practical experience is a wonderful asset to have if you engage in teaching in academia.”[7:30]

“[On teaching at the academia] there are people that are naturally good. They get education and they become great.”[10:15]

“Accountants by nature should be good communicator.” [10:51]

“If you want the things to stay the way they are, then they have to change.” [18:07]

(Other resources and how to connect with Martin below).

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Key Points From the Episode:

  • Having practical knowledge from business is helpful to students.
  • Some of the innovations driven by the accounting team uncovered in the Guinness archives, which has always made a profit since it first listed.
  • How to build respect and trust among colleagues at work;
    1. Go and work with them in their area
    2. Try to figure out the process together
    3. Interact with them as it takes time to build trust

Time Stamped Show Notes 

[02:38] Martin shared his career journey one summer when he started to work as an accountant to gain work experience. Working while finishing his CIMA and later he worked as Management and Accounting at clothing company. Had a stint at International Paper from 1996 to 2004, and then moved into academia. 

[03:49The experience of moving into academia and having practical knowledge from business was helpful to students. 

[08:29Practical experience in the industry at least you know how to do things for some time before sharing it to students. 

[9:30] Skills are needed in academia to bridge the gap with industry.  

[11:42Evolution to accounting practices from its earlier days and how it is similar today. 

[17:00] Guinness Brewery accounting practices that were an achievement and those principles that made them last until today.  

[18:34] – Financial Statements was prepared at 4-pages during the time of 1886-1947.  

[20:05] – The complexities of preparing Guinness Brewery financial statements before, and as we now going towards integrated reporting that simplify financial reporting. 

[21:11] – Condensing financial reports that provide clearer picture of the business that will be more useful to the managers. 

[22:57– Best advice Martin ever received on building respect and trust. 

[24:06– How to build respect and trust among colleagues at work; 

  • Go and work with them in their area 
  • Try to figure out the process together  
  • Interact with them as it takes time to build trust. 

[28:43– Resources Martin recommend to our audience to check. 

[28:43– Finance and Accounting professionals should find time to talk to the right people as source of information. 

[32:48– Best way to connect to Martin. 

[34:30] – Martin parting thoughts on the importance of written communication to Finance and other professionals and also don’t believe every number the accountants give (try to question every figure)… 

Resources Mentioned: 

Connect with today’s guest: 

LinkedIn Profile: https://www.linkedin.com/in/martin-quinn-5081a421/ 

Article on Guinnesshttps://www.fm-magazine.com/issues/2019/oct/guinness-brewery-accounting.html 

Blog: martinjquinnn.com 

Martin’s research: https://www.researchgate.net/profile/Martin_Quinn 


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