Traditional budgeting process normally starts with forecasting sales levels, cost of goods sold then all operation expenses until reaching to the proforma income statement without understanding how changes in costs (both variable and fixed) & sales will affect profits in future periods. But modern FP&A professionals started to implement CVP analysis during the annual profit plan to study the interaction of sales with variable & fixed costs on the profits received.
Belal El-Shaf'ei
Belal has 16 years of strategic & operational finance experience with a successful track record in leading corporate finance functions with turnover up to $400m and late-stage startups with total funding of $160m across the MENA region with exposure to different Finance & Business Transformation projects in the Technology sector with a primary focus on new FinTech Innovation, Digital Finance & Operational efficiency.
Author's Articles
Ask anyone working in the finance field now, how much time you consume in some manual tasks; such as data entry, accumulation & validation of data, accounts reconciliation & preparing some basic statements or reports. Unfortunately, statistics say that more than 35% from Accounting & Finance Teams spent from 50 to 70% from their time on manual processes & data entry on ERP systems!
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