Add a touch of Hemingway to your next finance report

What did the authors Raymond Chandler, John Steinbeck and Ernest Hemingway have in common? Well, aside from being American, they all had a writing style that was direct; they did not waste words.

Sometimes I like to read a book with a lyrical style but for the most part I prefer the direct style of Chandler and co.

When it comes to writing financial reports I encourage you to adopt a plain, direct style. If you do not then, at best, your reports will be over-written and, at worst, you will obfuscate the message you are trying to communicate. (I suppose I should, on that basis, permit over-writing if your intention is to obfuscate!)

It is easy to fall into the trap of over-writing. When I first qualified as an accountant I wrote letters that included phrases like “I would be grateful to receive your remittance at your earliest convenience.” Now I would write, “please pay promptly,” or, better, replace promptly by a deadline date. This is much easier to understand, and takes fewer words, too.

None of us are in the league of Nobel prize-winning authors but we can improve through practice. When we write something of any length we can always read over it with a view to simplify it. These days we can also use technology to help us. Recently I came across a web service called Hemingway. All you need to do is paste the text you have written into Hemingway and it will assess the reading age needed to understand it and highlight sentences that are long and complicated, and words that can be replaced by simpler words.

If you’re interested, the first draft of this post had a reading age of Grade 10, 5 of its 17 sentences were hard to read, and 3 sentences were very hard to read. Using the app I fixed four of those problem sentences and got down to Grade 8.

If you want some help to improve your writing it is worth checking out Hemingwayapp.com. As well as the free web version, you can pay for a desktop version for Windows or macOS.

New Year, New Direction, New Course

January 1st is an arbitrary day to be the first day of the year. As a former public servant in the UK I would also see 1 April as the first day of the financial year. Several years ago I wrote a post explaining why the UK tax year starts on 6 April (which itself refers to the first day of the year traditionally being 25th March, “Conception Day”). Anyway, 1 January is the conventional start of the year in terms of the change from 2018 to 2019 (CE, not AD) and the extended break I had over the Christmas and new year period has given me a chance to think about this blog.

Hitherto I have regarded this blog as something aimed at anyone working in government or public sector organisations who is responsible for managing money. This includes people working in finance/accounting departments but also all the managers and frontline staff with budget responsibilities, the politicians and others who direct the organisations, and even volunteers. My reason for this was, I think, an attempt to have the broadest impact. To some extent it also reflected my mindset in writing my first book, Financial Management and Accounting in the Public Sector, which was conceived to be a book that librarians, social workers, police officers and nurses would find useful.

Over the last 9 months or so I have been developing online training courses based on my books and my experience of real-life teaching. I confess at times to have struggled to know who my target audience is and what, therefore, they would need from the courses. This has been a tension between the fact that I’m an accountant and I best understand the skills and needs of accountants and my wish for my courses to appeal to the librarians, etc. My recent reflections have resulted in a decision, for the next year at least, to focus my courses, and this blog, on skills and productivity tips for accountants working in public sector organisations, whether in the UK or elsewhere. This means parking, for now, the major finance for non-financial managers course I was working on and focusing on a programme of shorter courses: Essential Skills for Public Sector Accountants. 

I have five courses planned for the first half of 2019:

• Financial modelling in the public sector

• Presentation skills for public sector accountants 

• Writing for public sector accountants

• Procurement skills for public sector accountants 

• Measuring value in the public sector

The titles of these courses may change if/when I think of titles that are better in marketing terms. Whatever the titles ultimately are I think the content will be unique. I know there are courses about financial modelling but I do not think anyone has created on specifically about the kinds of spreadsheet models used in public sector organisations. And I am almost sure that no-one has ever targeted presentation skills at accountants. This course, by the way, is about how to communicate financial messages and information and not about helping introverts to speak up. (I’m in the 99th percentile of the scale of introversion—really, I am—and yet I can and do stand in front of audiences and talk to them. Introversion is not the same thing as shyness.)

What does this all mean for this blog? Well, first I hope to post here more frequently than I’ve managed over the last few years. Second those posts will be related to the content of the courses I’m developing so they are more likely to be practical tips than news items.

Creating an online course about managing public money

For several years I have been thinking about doing less consulting work and making a living from selling products instead. The beauty of selling products is that it is unconstrained. When I work as a consultant, or as a teacher, I can generally only be paid for the time spent on the project. I have tried, and sometimes I succeed, in selling my service at a fixed fee, which gives me an incentive to work faster rather than slower, but many of my clients seem to see this approach as too risky. Essentially, that puts a limit on what I can earn because I can only sell my time once. Selling products, on the other hand, does not have that limit: the limit is the demand for the product at the price being charged.

As I said, I’ve had that on my mind for a few years and this year I decided to do something about it. The products I want to sell are online courses, books, e-books and coaching that are focused on various aspects of managing public money. Earlier this year I wrote a blog post about my online school and the free mini-course I created (Five Questions To Ask About Your Budget).

This week I made a start on creating my first paid-for course. It is a course aimed at anyone working in the public sector who wants to know more about the big picture of financial management. It is concerned with explaining the differences in financial management between the public and private sector, how public bodies are funded, and the governance arrangements that tend to apply to public workers. It also explains the concept of value for money, something which is vitally important to organisations that do not sell their products and services in a free market.

I thought it might be interesting to write a series of blog posts over the next few weeks that show how the course was created. Step 1 has been sketching out the content in the form of a mind map.

I created the mind map in an application called Mindnode. One of its nice features is the ability to switch from a map view to an outline view. Another feature is the ability to export the mind map into OPML format, which can then be opened by an outliner app or in rich text format (RTF) to be opened in a word processor like Word or Pages. 

The next stage of the process is to expand the headings and notes in the mind map into a set of steps. Each of the main branches in the mind map will be a topic within the course. Each topic will be broken into a set of lessons that will take less than 10 minutes each to complete. The plan also has to set out how each lesson will be taught (whether the lesson will be text, video, slide presentation, etc) and what downloadable material is needed to support it.

If you are interested in the course then sign up to my list so that you don’t miss its launch.