Building a good FP&A team is essential to the success of the finance function and even for the whole organisation. In today’s business world, FP&A teams need to build a strong foundation before they can take advantage of the new technology trends.
In this article, I would like to summarise this insightful meeting filled with practical presentations, interactive polling questions and compelling discussions around the six facets of the “New Normal” FP&A.
How can you successfully implement a Zero-Based FP&A design? There are 10 practical steps to be taken into consideration.
Zero-Based Budgeting (ZBB) has been around for a while but not all organizations use it. In this article, I present a high-level overview of ZBB implementation and give some considerations.
A budget expresses thoughts with numbers. Numbers can be financial like income and cash flow or non-financial like time and volume. Expressing thoughts with financial and non-financial numbers can be done through a variety of methods. One method is zero based budgeting which like all methods has strengths and weaknesses. The purpose of this article is to examine the strengths and weaknesses of zero based budgeting.
To most FP&A professionals and accountants there is confusion and a lack of consensus on how to allocate costs to products and service lines. I refer to this as “a mystery in a box to accountants”. To solve this mystery here are three lectures to accounting students from a skilled and experienced accountant – me – that explains the problem and how to solve it. For those who have already graduated from college and may even have a CPA, I encourage you to sit in the back of the lecture hall and audit these classes.