Accounting and Finance

Hot Jobs presents

June 14, 2000

Robert Worthington, Vice President of Finance and Administration, discusses in an online interview issues concerning accounting, finance, the Internet, and E-commerce.

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HotJobs: Welcome to Hotjobs.com's bi-weekly event! We're glad you're here, because that means you're ready to take control of your career. Tonight we'll be talking to AllBusiness.com Vice President of Finance and Administration Robert Worthington about how the accounting and finance professions have changed with the advent of the dot com businesses. Welcome, Robert, glad you could join us!

Robert: Glad I could be here!

Holloway J: What are some tips for preparing for cash flow imbalances?

Robert: A good cash flow analysis requires an understanding of the cash needs of a business so as an accounting professional we need to understand the dynamics of our cash burn on a 12 to 18 month basis.

Sakugawa: I earned my B.S. accounting in 1983, M.B.A. finance 1985 but never worked in these fields. I was involved in restaurant management, I owned my own business, and I held a civil service position. How do I go about getting back into the accounting and or finance fields?

Robert: Assuming that you have no experience, you are basically starting your career over. So, you will be basically taking an entry-level position and in order to get into an entry-level position you need to prove your technical ability, whether that is by passing the CPA or the CMA exam or some sort of volunteer basis to demonstrate your technical skills.

Fernando: I am bilingual and hold a B.S. in finance how useful is this in today's market?

Robert: The Internet economy reflects the offline economy so the extent that you have bilingual abilities will help you in your career just as much on the Internet as in the offline world.

Nomad: I have a Masters Degree in economics but I lack hands on experience. How do I get my foot in the door?

Robert: Network. Use whatever network they have to try to get into an entry position to get that real world experience. In the Internet economy networking is critically important to get that first position.

Valiant One: Any simple recommendations for a new accountant like me? Things to be aware of, watch out for, etc?

Robert: I assume you are talking about getting your first job. And there is nothing to be aware of. Just jump right into this Internet economy. And learn from whatever mistakes you make.

Fernando: How much technological experience are dot com companies expecting from recent college grads?

Robert: Again, I assume you are talking accounting majors; basically, none. The Internet economy, as I previously talked about, is reflective of the offline economy. Whether it is an internet company or donut shop, the principles of running a business are the same.

Chris: How has the finance profession changed since dot com businesses?

Robert: Quickly! Internet companies move at the light of speed. So it is important, as an accounting professional, to adapt quickly in a rapid environment.

Tanic: How willing are banks to make loans for e-commerce businesses?

Robert: Cash burning e-commerce businesses, as any other cash burn business, have difficulty getting such loans. There is in the economy out there that markets loans, however, those loans generally require some sort of equity coverage such as warrants. And generally come with a higher interest rate.

Billibong R: What types of people should companies hire to handle their books?

Robert: Ethical, detail-oriented, smart people.

EZ Guest: What is the salary range of operations financial analysts, beginning, middle, etc?

Robert: I assume you are talking about the San Francisco Bay area because that is my area of expertise. A beginning analyst will earn in the neighborhood of $40,000 and can go up as high as $120,000 with 8 years experience. And, of course, that excludes the equity position that those positions would earn.

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