Business schools tend to divide their curriculum between hard quantitative-oriented courses, such as operations management and finance; and soft behavioral courses, such as change management, ethics and leadership. This separation of the curriculum is like chambers in a mansion.
Companies reducing the size of their Financial Planning & Analysis (FP&A) finance teams are cutting valuable resources in the misbelief that is not a priority. That’s untrue. So what’s the role of FP&A in today’s company anyway?
This article is my sequel to my previously published “Can Accountants Grow the Beans Too?” article posted this past January, 2019.
Despite some advances in the application of new costing techniques such as activity-based costing, are management accountants and FP&A professionals adequately satisfying the needs of managers and employee teams for decision-based cost information?
By Thorsteinn Siglaugsson, Consultant / Corporate Trainer / Manager
The daily routine of FP&A professionals revolves around providing reports and analyses for senior and operational management, to manage core processes such as budgeting, forecasting, cost allocation and consolidation. And usually they are hard-pressed for time.
Imagine you have 3 minutes to explain to a six year old what FP&A is and what place it takes in a business ecosystem. Tough, isn’t it? What are things that a six year old would understand? For example, animals, right?